The financial sector has experienced an immense turnaround in terms of funding rounds in 2022 compared to last year. Fintech startups have recorded more than 130 funding rounds in January alone and the upcoming months were even more prolific for several companies. According to GlobalData, some startups were more visible to investors simply because of their size, thus in this article, we are going to cover some of the biggest fintech funding rounds of 2022. It is a well-known fact that private investors are fond of the fintech sector, so it should come as no surprise that the leading spots were taken by fintech companies. 

Acorns

Acorns is an American financial technology and financial services company established in 2012. It has managed to raise more than 300 million dollars in March 2022 which speaks volumes about the overall condition of the market. However, experts were hoping that Acorns would generate even higher numbers since it announced a SPAC deal last year. According to this deal, Acorns would receive nearly $450 million and the total value of the company would become $2.2 billion as a result. Despite high expectations, the SPAC merger was called off a couple of months ago as the timing was not right, so Acorns only got $300 million in the end. This fact clearly indicates that the market is under serious pressure at the moment and several companies refrain from going public due to this exact reason. 

Stax

Stax is also an American fintech organization operating in several segments including software/technology, business services, healthcare, industrial, education, and so on. It was established in 2014 by siblings - Suneera Madhani (CEO) and Sal Rehmetullah (president). This company has managed to revolutionize the way payments are processed nowadays and created a secure environment for businesses and platforms to execute transactions. The 2022 year was quite productive for Stax since it received $245 million in investments from companies like HarbourVest Partners, Greater Sum Ventures, and Blue Star Innovation Partners. Experts are stating that the upcoming months will be even more prolific for this company since it has managed to retain high customer engagement so far.

Marlette Holdings

Marlette Holdings might be an unknown name for the majority of readers, but you have certainly heard of its online credit and financial wellness platform called Best Egg. This is a Delaware-based fintech company that has managed to gain $225 million from the Healthcare of Ontario Pension Plan. As a result, Best Egg accumulated a total of 300 million dollars in revenue in 2022, making it the third-largest fintech funding round this year. According to Crunchbase, Best Egg was established in 2013, and it has raised more than 2 billion dollars ever since. 

Edly

Edly is a New York-based company founded only 3 years ago, but it has managed to help out a lot of students by providing alternative resources for traditional private loans. As a result, students have the opportunity to take advantage of more affordable and accessible loans, and so far, Edly has more than 4,000 customers. In 2022, Edly announced a $175 million investment from funds. Also, co-investment vehicles were provided by companies such as Windmuehle Funds and Medalist Partners. This has significantly helped Edly to develop tuition funding which includes income-based repayment loans. This tuition takes into account the starting salary of students and helps them to carry out affordable loans. 

SonarSource

SonarSource is a Swiss company established back in 2008 that develops open-source software for continuous code quality. This means that the developers have a chance to write clean codes and revise existing ones organically in order to get the desired results. This year has been tremendous for SonarSource as it received a total of 412 million dollars from a funding round led by General Catalyst and Advert International. What’s more, an existing investor called Inside Venture Partners also took part in this movement, and as a result, SonarSource accumulated up to $4.7bn in valuation. As officials have stated, the company has huge goals to grow its go-to-market team globally and gain more than 1 billion dollars in revenue, so they will orient funds toward this direction. 

Veza

Veza is a data security platform that claims to be established on the power of authorization. It provides a wide range of services to security entities and helps them to better comprehend the complex nature of data. Also, you will learn how to manage human identities and different accounts across disparate systems. Most importantly, the company supports both cloud and on-premise systems, so you will understand how to operate on both of them. Veza has gained a total of $110 million funding round in 2022 from companies like Bain Capital, GV, Accel, True Ventures, Ballistic Ventures, and Norwest Venture Partners.