Armed with some data from our friends at CrunchBase, we broke down the largest London startup funding rounds during the month of May. I have included some additional information as well such as industry, founding year, brief funding description, founders, total funding raised, to further the analysis for the state of venture capital in London. For the purposes of this analysis, only equity funding rounds were considered.
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7. Florence $35.0M
Round: Series B
Description: Florence is an online marketplace that connects vacant care home shifts to local nurses and carers looking for extra work Founded by Charles Armitage and Dan Blake in 2016, Florence has now raised a total of $44.3M in total equity funding and is backed by AXA Venture Partners, Seek Ventures, and Roo Partners.
Investors in the round: AXA Venture Partners, Roo Partners, Seek Ventures
Industry: Health Care, Marketplace, Nursing and Residential Care, Recruiting
Founders: Charles Armitage, Dan Blake
Founding year: 2016
Total equity funding raised: $44.3M
MarketplaceLIVE is evolving and expanding this year into a hybrid format across several days. Over the three days, you’ll be able to engage in global stories, speed network with industry peers, join our first-ever technical user conference, and end with our thought leadership event taking place both virtually and in-person from The Glasshouse in NYC. MarketplaceLIVE is the place where the complete community of cloud and digital stakeholders can come together to learn, cross-pollinate ideas, and network If you’re unable to join us in person, we have you covered with an interactive virtual experience.
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6. BVNK $40.0M
Round: Series A
Description: BVNK plugs the gap between traditional finance and crypto in the market. Founded by Donald Jackson and Jesse Hemson-Struthers in 2021, BVNK has now raised a total of $40.0M in total equity funding and is backed by Tiger Global Management, Kingsway Capital, Avenir Growth Capital, Nordstar, and Concentric.
Investors in the round: Avenir Growth Capital, Base Capital Partners, Concentric, Kingsway Capital, Nordstar, Raba, Tiger Global Management
Industry: B2B, Banking, Enterprise Software, Financial Services, FinTech, IT Infrastructure
Founders: Donald Jackson, Jesse Hemson-Struthers
Founding year: 2021
Total equity funding raised: $40.0M
MarketplaceLIVE is evolving and expanding this year into a hybrid format across several days. Over the three days, you’ll be able to engage in global stories, speed network with industry peers, join our first-ever technical user conference, and end with our thought leadership event taking place both virtually and in-person from The Glasshouse in NYC. MarketplaceLIVE is the place where the complete community of cloud and digital stakeholders can come together to learn, cross-pollinate ideas, and network If you’re unable to join us in person, we have you covered with an interactive virtual experience.
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6. Token $40.0M
Round: Series C
Description: Token is an open banking payments platform driving the shift from traditional payment methods to bank payments. Founded by Marten Nelson, Steve Kirsch, Todd Clyde, and Yobie Benjamin in 2016, Token has now raised a total of $90.0M in total equity funding and is backed by Plug and Play Tech Center, Cota Capital, Element Ventures, EQT Ventures, and SBI Investment.
Investors in the round: Cota Capital, Element Ventures, MissionOG, Octopus Ventures, Opera Tech Ventures, PostFinance, SBI Investment, TempoCap
Industry: Financial Services, FinTech, Payments
Founders: Marten Nelson, Steve Kirsch, Todd Clyde, Yobie Benjamin
Founding year: 2016
Total equity funding raised: $90.0M
MarketplaceLIVE is evolving and expanding this year into a hybrid format across several days. Over the three days, you’ll be able to engage in global stories, speed network with industry peers, join our first-ever technical user conference, and end with our thought leadership event taking place both virtually and in-person from The Glasshouse in NYC. MarketplaceLIVE is the place where the complete community of cloud and digital stakeholders can come together to learn, cross-pollinate ideas, and network If you’re unable to join us in person, we have you covered with an interactive virtual experience.
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5. Elwood Technologies $70.0M
Round: Series A
Description: Elwood Technologies is an established global fintech building institutional-grade digital assets trading infrastructure. Founded by Alan Howard in 2020, Elwood Technologies has now raised a total of $70.0M in total equity funding and is backed by Digital Currency Group, Galaxy Digital, Goldman Sachs, BlockFi, and Barclays.
Investors in the round: Barclays, BlockFi, Chimera Investment, CommerzVentures, Dawn Capital, Digital Currency Group, Flow Traders, Galaxy Digital, Goldman Sachs
Industry: Cryptocurrency, Finance, FinTech, Trading Platform
Founders: Alan Howard
Founding year: 2020
Total equity funding raised: $70.0M
MarketplaceLIVE is evolving and expanding this year into a hybrid format across several days. Over the three days, you’ll be able to engage in global stories, speed network with industry peers, join our first-ever technical user conference, and end with our thought leadership event taking place both virtually and in-person from The Glasshouse in NYC. MarketplaceLIVE is the place where the complete community of cloud and digital stakeholders can come together to learn, cross-pollinate ideas, and network If you’re unable to join us in person, we have you covered with an interactive virtual experience.
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****The first 10 to register for in-person will receive complimentary registration (valued at $499), use discount code: ALLEYWATCH***
4. Modulr £83.0M
Round: Series C
Description: Modulr is a fintech company that provides a payments as a service API for digital businesses. Founded by Cyrus Wadia, Jakub Zmuda, Kevin Hayes, Martin Threakall, Myles Stephenson, and Ritesh Tendulkar in 2015, Modulr has now raised a total of $170.3M in total equity funding and is backed by PayPal Ventures, General Atlantic, Highland Europe, Frog Capital, and Blenheim Chalcot.
Investors in the round: Blenheim Chalcot, Frog Capital, General Atlantic, Highland Europe, PayPal Ventures
Industry: Financial Services, FinTech, Mobile Payments, Payments
Founders: Cyrus Wadia, Jakub Zmuda, Kevin Hayes, Martin Threakall, Myles Stephenson, Ritesh Tendulkar
Founding year: 2015
Total equity funding raised: $170.3M
MarketplaceLIVE is evolving and expanding this year into a hybrid format across several days. Over the three days, you’ll be able to engage in global stories, speed network with industry peers, join our first-ever technical user conference, and end with our thought leadership event taking place both virtually and in-person from The Glasshouse in NYC. MarketplaceLIVE is the place where the complete community of cloud and digital stakeholders can come together to learn, cross-pollinate ideas, and network If you’re unable to join us in person, we have you covered with an interactive virtual experience.
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****The first 10 to register for in-person will receive complimentary registration (valued at $499), use discount code: ALLEYWATCH***
3. Carbon Clean Solutions £121.0M
Round: Series C
Description: Carbon Clean Solutions develops CO2 separation technology designed for industrial and gas treating applications. Founded by Aniruddha Sharma and Prateek Bumb in 2009, Carbon Clean Solutions has now raised a total of $200.2M in total equity funding and is backed by US Department of Energy, Chevron, Samsung Ventures, Saudi Aramco Energy Ventures, and Marubeni.
Investors in the round: AXA Investment Managers, BloombergNEF, Cemex Ventures, Chevron, Marubeni, Samsung Ventures, Saudi Aramco Energy Ventures, TC Energy, WAVE Equity Partners
Industry: CleanTech, Oil and Gas, Pollution Control
Founders: Aniruddha Sharma, Prateek Bumb
Founding year: 2009
Total equity funding raised: $200.2M
MarketplaceLIVE is evolving and expanding this year into a hybrid format across several days. Over the three days, you’ll be able to engage in global stories, speed network with industry peers, join our first-ever technical user conference, and end with our thought leadership event taking place both virtually and in-person from The Glasshouse in NYC. MarketplaceLIVE is the place where the complete community of cloud and digital stakeholders can come together to learn, cross-pollinate ideas, and network If you’re unable to join us in person, we have you covered with an interactive virtual experience.
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2. Thought Machine $160.0M
Round: Series D
Description: Thought Machine is a Fintech company that builds cloud-native technology to revolutionize core banking. Founded by Paul Taylor in 2014, Thought Machine has now raised a total of $562.8M in total equity funding and is backed by Eurazeo, Temasek Holdings, Morgan Stanley, Molten Ventures, and Nyca Partners.
Investors in the round: Eurazeo, ING Ventures, Intesa Sanpaolo, JPMorgan Chase & Co., Lloyds Banking Group, Morgan Stanley, SEB (Skandinaviska Enskilda Banken), Temasek Holdings
Industry: Banking, Enterprise Software, Financial Services, FinTech, IT Infrastructure
Founders: Paul Taylor
Founding year: 2014
Total equity funding raised: $562.8M
MarketplaceLIVE is evolving and expanding this year into a hybrid format across several days. Over the three days, you’ll be able to engage in global stories, speed network with industry peers, join our first-ever technical user conference, and end with our thought leadership event taking place both virtually and in-person from The Glasshouse in NYC. MarketplaceLIVE is the place where the complete community of cloud and digital stakeholders can come together to learn, cross-pollinate ideas, and network If you’re unable to join us in person, we have you covered with an interactive virtual experience.
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****The first 10 to register for in-person will receive complimentary registration (valued at $499), use discount code: ALLEYWATCH***
1. Paddle $200.0M
Round: Series D
Description: Paddle offers SaaS companies a completely different approach to their payments infrastructure. Founded by Christian Owens and Harrison Rose in 2012, Paddle has now raised a total of $293.3M in total equity funding and is backed by Silicon Valley Bank, Kindred Capital, Kohlberg Kravis Roberts, Notion Capital, and Business Growth Fund.
Investors in the round: 83North, FTV Capital, Kindred Capital, Kohlberg Kravis Roberts, Notion Capital
Industry: Apps, B2B, FinTech, Internet, Payments, SaaS, Software
Founders: Christian Owens, Harrison Rose
Founding year: 2012
Total equity funding raised: $293.3M
MarketplaceLIVE is evolving and expanding this year into a hybrid format across several days. Over the three days, you’ll be able to engage in global stories, speed network with industry peers, join our first-ever technical user conference, and end with our thought leadership event taking place both virtually and in-person from The Glasshouse in NYC. MarketplaceLIVE is the place where the complete community of cloud and digital stakeholders can come together to learn, cross-pollinate ideas, and network If you’re unable to join us in person, we have you covered with an interactive virtual experience.
