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The Mobile Fin Tech Landscape

June.09.2015 0 Comments

Mobile Fin Tech companies are garnering significant interest from investors. We looked at the financing trends, biggest deals, and top companies.

Overall Q1’15 funding, which reached $372M, was up 238% versus the same quarter a year prior.

One97 Communications, the maker of Paytm, India’s largest mobile commerce platform, has accounted for 2 of the 3 largest deals to Mobile Fin Tech thus far this year, having raised a cumulative $575M from Alibaba and their financial arm Ant Financial Services Group. The company is now valued at upwards of $1.8B.

Overall, 4 of the 10 largest deals went to Asian companies, with Enniu Internet Technology, maker of u51, a mobile credit card management and analytics platform raising $50M, and India’s MobiKwik, a mobile wallet company, raising a $25M Series B. Cumulatively the top 10 deals thus far in 2015 have raised over $1B.

Largest Global Mobile Fin Tech Deals – 2015 YTD

Company Round Quarter Amount ($M) Country Select Investors
One97 Communications Corporate Minority – II Q2’15 375 India Ant Financial Services Group
Affirm Series B Q2’15 275 United States Andreessen Horowitz,  Khosla Ventures, Spark Capital
One97 Communications Corporate Minority Q1’15 200 India Alibaba Group, Ant Financial Services Group
Enniu Internet Technology Series B Q1’15 50 China GGV Capital
Robinhood Series B Q2’15 50 United States New Enterprise Associates, Index Ventures, Ribbit Capital
MobiKwik Series B Q2’15 25 India American Express Ventures, Cisco Investments, Sequoia Capital India
Acorns Grow Series C Q2’15 23 United States, Greycroft Partners, Sound Ventures
eDo Interactive Series D Q2’15 19.77 United States Baird Venture Partners, Voyent Partners
YellowPepper Series C Q1’15 19 United States LIV Capital, Mexico Ventures
Remitly Series B Q1’15 12.5 United States DN Capital, Draper Fisher Jurvetson

We used CB Insights Company Mosaic to assess the health and momentum of some of today’s top Mobile Fin Tech companies. Mobile payments company Square scored the highest, with a 960 (out of 1000) overall Mosaic score. Square most recently raised a second tranche of Series E investment from Victory Park Capital and Colchis Capital for an undisclosed sum. The company was last valued at $6B.

Robinhood, the commission free investment platform ranked second, with a 940 Mosaic score. The company just raised a $50M Series B in early May, which drove a jump in news mentions and social media traffic.

India-based MobiKwik rounded out the top three, as the mobile wallet company has a Mosaic score of 920. Mobikwik raised a $25M Series A in April 2015 from investors such as Sequoia Capital India, American Express Ventures, and Cisco Investments.

The top 10 Mobile Fin Tech companies by Mosaic below (click the logo for more company information).

Mobile Fin Tech Companies with Momentum

Company Overall Mosaic Score Total Disclosed Funding ($M)
square-logo-2 960 $716.75
robinhood logo 940 $66
mobikwik logo 920 $30
affirm logo 910 $325
izettle logo 900 $109.74
remitly-logo-blue 890 $23.75
number26 logo 870 $12.6
Coin-Inc logo edit 870 $17
mozido-logo 860 $313.71
 stratos card logo 850 $9.45