Market Insights

Fintech Funding and Privacy Matters: Friday Deal Book for 7/12/2019

July 12, 2019

The fintech frenzy continues, with Anchorage raising $40 million and OPay raising $50 million. Both Anchorage and OPay play in the digital financial services space – Anchorage focuses on cryptocurrency management, while OPay facilitates digital payments in day-to-day transactions. In conjunction with N26’s announcement on Thursday of its expansion into the US market, this continued investment (by some pretty big players, to boot) clearly indicates that fintech is drastically reshaping financial services as we know it.

 

The Top Deals Covered by OWI this Week

 

Anchorage \ anchorage.com \ Founded in 2017

Developer of a platform created to provide investment solutions for digital assets. The company’s platform is a crypto-native digital asset custodian which offers modern security engineering, enabling institutional investors to safeguard their investments while getting more out of their assets.

The company raised $40 million of Series B venture funding in a deal led by Blockchain Capital on July 10, 2019. Visa and Andreessen Horowitz also participated in the round. The funds will be used to accelerate the growth of crypto finance.

 

OneTrust \ onetrust.com \ Founded in 2016

Developer of a technology platform designed for privacy management. The company’s comprehensive, integrated, technology-based services include readiness and privacy impact assessments, data inventory and mapping automation, website scanning and consent management, subject rights requests, incident reporting and vendor risk management, helping businesses globally to comply with data privacy regulations across sectors and jurisdictions, including the EU GDPR and privacy shield.

The company raised $200 million of Series A venture funding in a deal led by Insight Partners on July 11, 2019, putting the company’s pre-money valuation at $1.1 billion.

 

OPay \ operapay.com \ Founded in 2018

Developer of a mobile-based platform for payment, transportation, food & grocery delivery, and other services. The company’s platform provides millions of users a convenient and accessible way to send and receive money, pay bills, and order food and groceries.

The Nigerian mobile payments startup has raised $50 million from IDG Capital, Sequoia China, Source Code Capital, Meituan-Dianping, GSR Ventures and Opera Limited, which will be used in part to help with the company’s plans to expand into other African markets.

 

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Investor Highlight

 

Insight Partners \ insightpartners.com \ Founded in 1995

Description of Investor

Founded in 1995, Insight Partners is a venture capital and private equity firm based in New York, New York. The firm seeks to invest in growth-stage technology and software companies. Insight has over $20 billion of assets under management, invested in more than 300 companies, and completed more than 200 M&A transactions for our portfolio companies. 

Active Portfolio – 186

Investments – 679

Med. Round Amount – $30.00M 

Med. Valuation – $170.14M

# of Exits – 229

Deal History

In the past year, Insight Partners has invested in the following 9 identity companies:

OneTrust

RedTrust

Armis

Shield Screening

US Information Search

Feature Space

Keyfactor

CoreView

Crime Finders, Inc.

*Data acquired using PitchBook with proprietary keyword searches set by OWI Analysts