The five largest funding rounds in the Dallas-Fort Worth tech scene brought in nearly $77 million in August, which is an increase from the $47.1 million generated by the five biggest rounds from July. Most of the top funding rounds in August went to fintech companies. Keep reading to learn more about these businesses and how they will use this funding to fuel future growth.
#5. $100,000, August 3
After building a large following of Black professionals on LinkedIn, Brittani Hunter went on to create Mogul Millennial, a website with content that helps Black entrepreneurs grow their businesses. The content includes success stories, career advice, opportunities for funding and other useful resources, like a pitch deck template. The startup was recently named to the latest cohort of Andreessen Horowitz’s Talent x Opportunity Initiative, which provides a $100,000 investment in exchange for a 7 percent ownership stake in the company. The program also equips founders with a 20-week training and mentorship program and a network of corporations, donors and mentors.
#4. $5 million, August 23
Dallas fintech startup Deposits has developed a plug-and-play, no-code software that makes it easier for banks and credit unions to launch mobile apps, online banking identity verification, peer-to-peer payments and other embedded financial tools. Deposits will use this seed funding to scale its operations and add services to its platform.
#2 (tied). $15 million, August 30
VRGL was co-founded by CEO Josh Smith and COO Josh Zimmerman in March. Smith was the co-founder and CEO of Solovis, which was acquired by Nasdaq in 2020. VRGL has built software that allows wealth management advisors to demonstrate their value to new clients by automatically extracting the client’s financial information from various accounts and using institutional-grade analytics to discuss future investment options. This Series A round will help VRGL scale, grow its sales and advance it product and marketing roadmap.
#2 (tied). $15 million, August 22
Highline allows users to automatically pay bills from their payroll, not their bank account, in an effort to avoid missed payments and overdraft fees. Founded in 2020, the startup raised $4.5 million in seed funding in February and doubled its workforce over the first half of 2022. This Series A funding will allow the startup to continue to hire, pursue strategic partnership opportunities and increase its customer base.
#1. $41.5 million, August 23
SmartMoving helps moving companies with a variety of business functions, like sales leads, scheduling, customer quotes and payroll. The Dallas startup will use its newfound capital to evolve its product and add training, support and services for customers.