Fintech funding seems to have picked up steam this week, with home-selling platforms, online insurance carriers, personal finance apps, and e-commerce companies all getting a healthy boost of capital. This brings us to our top five fintech funding rounds of the week:
It’s the venture funding round we’ve all been waiting for: homeowner and rental insurance company Lemonade just raised $33.1 million in venture funding, which together with its seed money, brings the company’s total equity up to $46.1 million. The New York-based company, which is licensed as an insurance carrier, aims to replace traditional brokers and insurance processes with artificial intelligence and machine learning—and the company’s underwriting profits go to nonprofits.
Personal finance mobile app MoneyLion today raised $22.5 million in a Series A in a round led by Edison Partners. The money is earmarked to help expand the app’s growth by expanding its lending capabilities. MoneyLion utilizes machine learning techniques in order to provide one holistic space for tracking spending, savings, and customer credit, together with in-app personalized recommendations for better financial management.
Taipei-based e-commerce platform KKday raised $7 million in a Series A in a round with two investors, bringing the platform’s total equity funding up to $11.5 million. The new funding joins KKday’s existing capital as fuel for its expansion to other markets in Asia.The company currently has offices operating out of Hong Kong and China but wishes to expand to additional countries soon, according to data from Crunchbase.
In additional fintech news, fintech startup investing platform AngelList has acquired Product Hunt, which will continue to operate independently. Product Hunt is a crowdsourcing platform where contributors vote products up or down. Finally, Stripe has gained a new executive from the wide world of Twitter, and it’s looking like 2017 will be the Year of the Blockchain.