Funding round
Abound Series B
Abound, which works in personalized lending solutions services in London, raised $1.00B in a Series B round announced on 7 May 2024, led by GSR Ventures. 2 firms took part, 1 of them already investors. It is Abound's second venture round on record; the one before was a Growth in Feb 2022.
$1.00B
Amount raised
800,000,000 GBP converted
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
Abound did not disclose a valuation in this round. It came 27 months after Abound's Growth. It is 95% of the $1.05B Abound has raised in the venture rounds on record. No later venture round is on record for Abound.
Abound's funding rounds
Abound has 2 venture rounds on record and 3 other deals. This one is highlighted.
- Debt not a venture round 15 Apr 2021 $44M
- Growth 18 Feb 2022, led by Salica Investments $54M
- Debt not a venture round 6 Mar 2023, led by K3 Ventures, GSR Ventures and Salica Investments $600M
- Series B this round 7 May 2024, led by GSR Ventures $1.00B
- Debt not a venture round 27 Mar 2025 $323M
Investors
Who put money in
GSR Ventures led the round with 1 other firm. Citi had backed Abound before.
Lead investor
- GSR Ventures new investor
Also in the round
- Citi existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
18 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $24M, and this round was 41 times the median. The closest in time, other companies' Series B rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 23 May 2024 | $65M | $700M | Citi Ventures |
| Loans & Financing | 4 Apr 2024 | $48M | not disclosed | LeapFrog Investments and Aavishkaar Capital |
| Loans & Financing | 14 Mar 2024 | $28M | not disclosed | Norfund and MUFG Innovation Partners |
| Loans & Financing | 30 Jul 2024 | $11M | not disclosed | BlackPeak Capital and Catalyst Romania |
| Loans & Financing | 13 Aug 2024 | $232M | not disclosed | New Enterprise Associates |
| Loans & Financing | 3 Sep 2024 | $30M | not disclosed | Second Century Ventures |
| Loans & Financing | 18 Jan 2024 | $26M | not disclosed | Revolution and Moneta Ventures |
| Lendo Loans & Financing | 10 Dec 2023 | $28M | not disclosed | Sanabil |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Abound raise in its Series B round?
Abound raised $1.00B in its Series B round, announced in May 2024.
Who led Abound's Series B round?
GSR Ventures led it, with Citi.
What was Abound's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Loans & Financing?
18 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $24M, and this round was 41 times the median.