Greater Boston FinTech startups got off to a good start in 2016 on the funding front. Twelve firms raised more than $153 million in the first six months of the year, led by Circle, which raised $60 million. This is significantly more than Greater Boston FinTechs raised in the second half of 2015, and roughly equal to the $157 million raised by 15 firms in the first half of 2015 (which was also led by a big round for Circle).
As always, if I’ve missed your funding event, please raise your hand.
Financial Technology Boston
In other Boston FinTech news, Bob Reynolds, President & CEO of Putnam Investments and co-Chair of the Boston Financial Leadership Council, announced a new initiative to improve competitiveness and advocate for the financial technology sector in Massachusetts. Financial Technology Boston will promote the Greater Boston region as a hub for FinTech through an integrated media, outreach, and talent strategy, and through a network that links leading firms, startups, venture capitalists, universities, and government.
In conjunction with the announcement, the Boston Financial Services Leadership Council released the latest Financial Services Sector Impact Report, prepared by PwC and Mass Insight Global Partnerships, on the importance of financial services to the Massachusetts economy, and the importance of access to talent to the financial services sector.
* Some combination of equity and debt. Round not closed.
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Fundraising for Boston FinTechs so far! @redphase https://t.co/rBr9wTJOtp
RT @FinTechSandbox: Fundraising for Boston FinTechs so far! @redphase https://t.co/rBr9wTJOtp
Here’s one I missed: Vestmark, which provides technology to the wealth management and investment advisory industry, raised $30 million in April.