tracxn research — investment tech landscape, october 2016

Investment Tech Report – October 2016


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2


Contents

Topic Page No.

Scope of Report 04

Entrepreneur Activity 06

Investment Trend 09

Who is Investing 17

Exit Outlook - IPO, Acquisitions 21

Sub Sector Analysis 24

Interesting Companies 39

Useful Links 55

Company List 57

Team 369


Sector Overview

Scope of report

The scope of this report includes platforms offering investment opportunities to retail and institutional investors and alsoincludes companies which provide software solutions to these players. The feed would include following type of companies:

• Retail Investing: Companies that allow retail investors to invest in capital markets. It could be in single stock trading viabrokerages or investment in capital market products like Mutual Funds.

• Institutional Investing: Companies that allow institutional investors to trade in capital markets. It also includes companiesthat provide mid and back office solutions to institutional investors such as hedge funds, asset managers and wealthmanagers.

• Private Market Investing: Platforms that allows investors (both institutional and retail) to invest in alternative investmentclasses. These include Venture Capital, PE, real-estate, precious metals etc. It also includes companies that enable theseplatforms by providing the allied technology solutions.

• Financial Data: These include platforms that provide data on private and public market asset classes. They enable investorsto make investment decisions.

The scope of this report includes equity as well as debt funding received by the companies.

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Scope of Report

Entrepreneur Activity

Investment Trend

Who is Investing

Exit Outlook - IPO, Acquisitions

Sub Sector Analysis

Interesting Companies

Useful Links

Company List

Team

5


136148

210

279

375396

70

0

90

180

270

360

450

2010 2011 2012 2013 2014 2015 2016 (YTD)

Nu

mb

er o

f C

om

pan

ies

6

YoY – Number of companies founded

Jusfoun Big Data VTS Fantex Nvest Jimubox Madai Licai Pagaya Investments

Motif Investing Snowball Finance Robinhood iAngels Cadre Roofstock Active AI




No. of Companies Founded

Average Age

No. of Companies Funded

Business ModelTotal

FundingExample

179 Feb, 2013 50Private Market Investing > Investment Platforms > Real Estate

$11MCadre

2014, New York City

489 Sep, 2012 174 Private Market Investing $169MFundpundit

2014, Mumbai

488 Sep, 2012 174Private Market Investing > Investment Platforms

$169MEquity Brick2016, Austin

217 Sep, 2012 80Private Market Investing > Investment Platforms > Venture Capital

$114MCircleUp

2011, San Francisco

127 Feb, 2012 51Retail Investment > Trading Platform > Social Trading

$7MeToro

2007, Tel Aviv

330 Jan, 2011 117 Retail Investment > Trading Platform $343MQuchaogu

2014, Beijing

Large Upcoming Sectors




Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

8


YoY – Number of Rounds and Total Funding

Note: The funding includes debt rounds also.

$226M

$469M$560M

$330M$275M

$577M

$1.0B

$2.3B

$1.0B

50 48 76

96

121

180

270

338

201

0

50

100

150

200

250

300

350

400

0

500

1000

1500

2000

2500

2008 2009 2010 2011 2012 2013 2014 2015 2016 (YTD)

Nu

mb

er of R

ou

nd

sFu

nd

ing

Am

ou

nt

(in

Mill

ion

s)

Funding Amount Number of Rounds




YoY – Number of Rounds by Stage

4868

90

135155

80

29

32

51

99

131

81

13

14

19

17

33

18

0

50

100

150

200

250

300

350

2011 2012 2013 2014 2015 2016 (YTD)

Nu

mb

er o

f R

ou

nd

s

Seed Early Late




YoY – Funding by Stage

$32M $51M $50M $82M $100M $66M$144M $98M

$338M

$553M

$946M

$477M

$135M $93M

$155M

$312M

$821M

$441M

0

400

800

1200

1600

2000

2011 2012 2013 2014 2015 2016 (YTD)

Tota

l Fu

nd

ing

Am

ou

nt

(in

Mill

ion

s)

Seed Early Late




Average Ticket Size – Early Stage

$0.8M $1.0M$0.7M

$0.9M $0.9M $1.1M

$3.7M $3.4M

$5.1M $4.8M

$6.4M$5.2M

$14.7M

$11.1M

$13.1M$11.9M

$22.5M

$13.4M

0.0

5.0

10.0

15.0

20.0

25.0

2011 2012 2013 2014 2015 2016 (YTD)

Fun

din

g A

mo

un

t (i

n M

illio

ns)

Seed Series A Series B




Top investments in last one year

CompanyFunding Amount

Round Name

Date Investors

zhiniu8.comZhiniu8

(Guangzhou, 2005)$150M Series C Mar-2016 YY

m-daq.comM-DAQ

(Singapore, 2010)$95M Series C Nov-2015 EDBI, Alipay

jusfoun.comJusfoun Big Data(Beijing, 2010)

$76M Series C Nov-2015 China Equity, Keybridge, IDG Capital Partners, DT Capital Partners, Boxin Capital

madailicai.comMadai Licai

(Shanghai, 2015)$65M PE Dec-2015 CITIC Capital

fantex.comFantex

(San Francisco, 2012)$59M PE Jul-2016

vts.comVTS

(New York City, 2011)$55M Series C May-2016 Insight Venture Partners, OpenView, Trinity Ventures

cadre.comCadre

(New York City, 2014)$50M Series B Jan-2016 Goldman Sachs, Founders Fund, Thrive Capital, Ford Foundation, Khosla Ventures

investcloud.comInvestCloud

(Beverly Hills, 2010)$45M Series C Oct-2015 FTV Capital




Top investments in last one year

CompanyFunding Amount

Round Name

Date Investors

alpha-sense.comAlphaSense

(San Francisco, 2008)$33M Series A Mar-2016 Tribeca Venture Partners, Triangle Peak Partners

wikinvest.comWikinvest

(San Francisco, 2006)$33M Series D May-2016

Eaton Vance, UBS, New York Life Insurance, Santander InnoVentures, DCM Ventures, Bain Capital

nvest.meNvest

(Toronto, 2013)$33M Series D Jun-2016

wexfin.comWeXFin

(Shanghai, 2012)$32M Series A Oct-2015

circleup.comCircleUp

(San Francisco, 2011)$30M Series C Nov-2015

Collaborative Fund, Canaan Partners, QED Investors, Rose Park Advisors, Union Square Ventures, Maveron

trumid.comTrumid financial

(New York City, 2014)$25M Series B Oct-2015

investcloud.comInvestCloud

(Beverly Hills, 2010)$25M Series C Sep-2016

potamustrading.comPotamus Trading(Toronto, 2006)

$25M PE Jul-2016




Funnel view of Sector

Percent of Previous

0.33%

0.58%

0.36%

205

96

171

475

820

2460

0 500 1000 1500 2000 2500 3000

M&A & IPO

Late

Series B

Series A

Funded

Founded

Number of Companies




Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

16


Most Active Investors in Sector

1918

17

1514

13 1312

1110

0

4

8

12

16

20

500 Startups Goldman Sachs Startupbootcamp Level39 Techstars Social Leverage Y Combinator Sequoia Capital Senahill Partners Bain Capital

Tota

l Nu

mb

er o

f R

ou

nd

s

Artivest Cadre Zeroflows Limited Behavox Bison YCharts Sliced Investing Zhenrongbao Axial Cogency Soft

Seed CX Celoxica StockViews cityFALCON Clausematch StockTwits Spark Gift Stockpile ClearServe Wikinvest




Where are Top Investors investing

18

http://bit.ly/get-demo?utm_source=Report&utm_medium=All&utm_campaign=InvTech-Oct-16


https://www.linkedin.com/company/tracxn


https://twitter.com/tracxn


https://www.facebook.com/Tracxn/



Top Investor by Stage of Entry




Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

20


Top IPOs

IPO Date Company OverviewFunding Amount

Mcap at IPOExch:Ticker

27-04-2016 98.cnYin Tian Xia

(Shanghai, 2011)

Online commodity trading platform for precious minerals and metals YIN

16-07-2015 jpinvestment.cnJupai Holdings

(Shanghai, 2010)

Wealth management platformSina, E-House China, Bank Julius BÃ¤r, Zero2IPO, Greenwoods Investments

JP

08-07-2015 coassets.comCoAssets

(Singapore, 2013)

Real estate crowdfunding platformMDA Singapore, Expara $736K

CAX

01-05-2015 bitgold.comBitGold

(Toronto, 2014)

Platform for gold investment.Sandstorm Gold, PowerOne Capital Markets, Soros Brothers $15.5M

XAU

20-06-2014 markit.comMarkit

(London, 2001)

Financial information services company.General Atlantic, Temasek, Prime Ventures $250M

MRKT

01-12-2012 arcontech.comArcontech Group PLC

(London, 1979)Real time financial market data ARC

27-05-2011 nexj.comNexJ

(Toronto, 2003)CRM for Financial, Insurance and Healthcare Industry $22.9M

NXJ

14-01-2011 miteksystems.comMitek

(San Diego, 1985)Mobile Imaging based anti fraud & verification $750K NASDAQ:MITK




Major Acquisitions










Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

23


October 2016Tracxn BlueBox : Investment Tech2450+ companies in the sector, ~650 funded in last 5 years, $3.3B invested in 2015/16

24










Top Business Models by Funding

$2.8B

$1.6B$1.5B

$1.0B

0.0

0.5

1.0

1.5

2.0

2.5

3.0

Institutional Investments Financial Data Retail Investment Private Market Investing

Tota

l Fu

nd

ing

Am

ou

nt

(in

Bill

ion

s)

# Cos. 867 587 517 489

Avg. Age Sep-05 Sep-07 Sep-10 Sep-12

Metric Stream Markit Jimubox Fantex

M-DAQ Dataminr Motif Investing Cadre




Institutional Investments – Business Model Description




Institutional Investments – Entrepreneur Activity and Investment Trend




Institutional Investments – Most Funded Companies




Financial Data – Business Model Description




Financial Data – Entrepreneur Activity and Investment Trend




Financial Data – Most Funded Companies




Retail Investment – Business Model Description




Retail Investment – Entrepreneur Activity and Investment Trend




Retail Investment – Most Funded Companies




Private Market Investing – Business Model Description




Private Market Investing – Entrepreneur Activity and Investment Trend




Private Market Investing – Most Funded Companies




Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

38


Interesting Unfunded Companies

Company OverviewBusiness Model

factset.comFactSet

(1978, Norwalk)

Financial Software & DataFinancial Data > Private Market Data

bloomberg.comBloomberg

(1981, New York City)

Financial data provider.Financial Data > Public Market Data

zerodha.comZerodha

(2010, Bangalore)

Brokerage-free, flat rate per trade trading platform for retail investors Retail Investment > Trading Platform > Conventional > Multi-Asset > Flat Fee

wealthyfox.inWealthyFox

(2016, Mumbai)

Platform for aggregating & comparing financial analytics companies Financial Data > Public Market Data > Research & Analytics > Data Analytics

algowire.comALGOWIRE

(2012, Delhi)

Algorithmic trading solutions for high frequency trading operations Institutional Investments > Trading Platform > Algorithmic Trading

sentifi.comSentifi

(2012, Zurich)

Crowd Intelligence Platform for Financial Markets Financial Data > Public Market Data > Research & Analytics > Data Analytics

finvr.coFinVR, Inc.

(2014, St. Charles)

Deep learning based virtual reality trading platform Financial Data > Public Market Data > Research & Analytics > Data Analytics

instafinancials.comInstaFinancials

(2016, Bangalore)

Platform for company financials data Financial Data > Public Market Data > Content Providers

Curated list of companies by the sector analyst are defined as Interesting




Interesting Seed Companies




Interesting Series A Companies




Interesting Series B Companies




Interesting Late Stage Companies




Top Funded Deadpooled Companies




Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

54


Useful Links

Slide Title Content Platform Link

List of All Companies in readable format Companies Link

Large Upcoming Sectors Entrepreneur Activity Link

Niche Upcoming Sectors Entrepreneur Activity Link

Top investments in last one year Investment Trend Link

Major Acquisitions in last one year Exit Outlook - IPO, Acquisitions Link

Horizontal – Most Funded Companies Sub Sector Understand Link



http://tracxn.com/query/feedview#%7Csort%3Drelevance%7Corder%3DDEFAULT%7CfeedName%3DInvestment%20Tech

http://tracxn.com/query/largeupcoming#%7Csort%3Drelevance%7Corder%3DDEFAULT%7CfeedName%3DInvestment%20Tech

http://tracxn.com/query/nicheupcoming#%7Csort%3Drelevance%7Corder%3DDEFAULT%7CfeedName%3DInvestment%20Tech

http://tracxn.com/query/feedview#%7Csort%3Drelevance%7Corder%3DDEFAULT%7CfeedName%3DInvestment%20Tech%7ClatestFundedDate%5Emin%3D22%2F09%2F2015%5Emax%3D22%2F09%2F2016

http://tracxn.com/query/feedview#%7Csort%3Drelevance%7Corder%3DDEFAULT%7CfeedName%3DInvestment%20Tech%7CacquisitionDate%5Emin%3D22%2F09%2F2015%5Emax%3D22%2F09%2F2016

http://tracxn.com/query/feedview#%7Csort%3DtotalMoneyRaised%7Corder%3DDEFAULT%7CfeedName%3DInvestment%20Tech


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

56


Investment Tech – Company List

Institutional Investments Financial Data Retail Investment Private Market Investing

977 FUNDED COMPANIES AND 1483 UNFUNDED COMPANIES

COVERS THE FOLLOWING SECTORS

57




Institutional Investments (1/109)Company Overview Business Model Total Funding

QxBranch(, Kiev)

Advanced data analytics and software for financial industry

Wealth Tech(2016, Ahmedabad)

Public market investments

IncWell(2014, Dublin)

Venture Capital (Startup/Seed)NDRC

MFEX Mutual Funds Exchange AB

(1998, San Francisco)

Mutual fund distribution, trading and custodyUlu Ventures, Hummer Winblad Venture Partners

NASDAQ(2015, San Francisco)

Stock Exchange based in New York.FinTech Sandbox

Eka Software Solutions(2012, San Francisco)

Commodity trading and risk management solutions for global commodity markets.

Mid and Back Office Solutions

$56.75M

Bats Global Markets(2003, St. Louis)

Bats ExchangeNewSpring Capital


$45M

Finaplex(1999, Beijing)

Enterprise software solutions for financial advisorsStartup Capital Ventures, Authosis Ventures


$22.7M

Go to BM List >> Financial Data





Risk Vision(2008, New York City)

Real Time Risk Management Platform solutionMid and Back Office Solutions

$19M

Exegy(2011, Chicago)

Technology and Managed Services companyExcelerate Labs, Pritzker Group


$16.8M

First Coverage(2011, Stuttgart)

Financial Services SoftwarePoint Nine Capital, Runa Capital, KIZOO, Acton Capital Partners, Commerz Ventures, Runa Capital


$14.5M

Mambu(2009, New York City)

Microfinance Online Software ApplicationMid and Back Office Solutions

$10.73M

M-Factor(2005, Canandaigua)

Investment analytics softwareTrillium Group


$10.1M

Trader Tools(2006, Toronto)

FX Trading Platform for Institutional usersCommonwealth Capital Ventures, GrandBanks Capital, JLA Ventures


$9.8M

Modulus(1997, New York City)

Financial technology service provider for institutional investors.Eastward Capital Partners, Edison Venture Fund, Edison Partners


$8.45M

Clearpool Group(2003, San Mateo)

Provides trading software and execution services.Norwest Venture Partners, US Venture Partners, Bay Partners, Pelion Venture Partners, Pinnacle Ventures


$8M






UNX(2003, New York City)

Trading Technology Platform for InstitutionsMid and Back Office Solutions

$4.4M

CAIS(2012, Tortola)

Independent exchange platform for in-demand financial products.Berkshire Capital


$4M

iTBconnect(2012, New York City)

Fixed income electronic trading products.Edison Partners


$3.76M

Livevol(2011, Burlington)

Provider of equity and index options technology and market data services to professional and retail traders.


$2M

FX Aligned(2009, New York City)

Forex service provider.Mid and Back Office Solutions

$1.25M

Eclipse Market Solutions LLC(2000, )

An integrated commodity future and option pricing and communication platform.Metamorphic Ventures, New York Angels


$1.2M

RightCapital(2008, Lagos)

Financial planning and tax planning solutions provider for financial advisors


$1M

ClearMomentum(2003, San Francisco)

Organizational FinancesMid and Back Office Solutions

$1M





Institutional Investments (4/109)











Financial Data (1/74)

Institutional

Investments<< Go to BM List >> Retail Investment





Institutional





Retail Investment (1/65)

Financial Data << Go to BM List >>Private Market

Investing






Investing




Private Market Investing (1/62)

Retail

Investment << Go to BM List





Retail





Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

368


Team

369

Ashish Chauhan

Lead Analyst, Fintech



https://in.linkedin.com/in/ashish-chauhan-7410b319

https://in.linkedin.com/in/ashish-chauhan-7410b319

https://twitter.com/ashishc2013

https://twitter.com/ashishc2013

tracxn research — investment tech landscape, october 2016

Data & Analytics