meridialIntelligence
Insights and chartsLive · updated Oct 12, 2026

Funding Register Insights

Where 122 verified rounds put the money, who the funded companies sell to, and who backed them.

Rebuilt weekly

Where the money went

N = 101 rounds

New money by sector

Exchanges & trading took the most disclosed new money: $1.16B across 32 rounds. Rounds with no amount disclosed count as rounds, never as dollars.

Exchanges & trading
$1.16B
32 rounds
Stablecoin payments & accounts
$632M
31 rounds
Banking & tokenized deposits
$238M
3 rounds
AI, DePIN & consumer
$236M
20 rounds
Tokenization & capital markets
$143M
11 rounds
DeFi protocols
$138M
9 rounds
Data, compliance & custody
$68M
10 rounds
Chains & developer infrastructure
$41M
6 rounds

Meridial Funding Register · snapshot 2026-10-12

Who pays

N = 121 companies

Who they sell to

Consumers are the first buyer for 45 of 121 funded companies, read from each company's own site. The small figure adds the companies that name them as a second buyer.

Consumers
45
59 incl. second
Crypto firms
22
41 incl. second
Fintechs and payment companies
20
32 incl. second
Businesses
17
44 incl. second
Banks and regulated institutions
17
31 incl. second

Meridial Funding Register · snapshot 2026-10-12

Who backed them

N = 122 rounds

The most institutional backer

The most institutional investor on each round's cap table. 68 of the 101 rounds outside one accelerator cohort had a traditional-finance or corporate backer; 40 had an investor from the industry the company sells to. The 21 cohort cheques are shown as their own bar.

Traditional finance
40
33% of rounds
Crypto company
25
20% of rounds
Other company
3
2% of rounds
Venture funds only
28
23% of rounds
Angels only
1
1% of rounds
Accelerator cohort
21
17% of rounds
Not typed yet
4
3% of rounds

Meridial Funding Register · snapshot 2026-10-12

Most active investors

341 investors named across 122 rounds

Ranked by published rounds, then rounds led. Individual angels are not named. Cheques from an accelerator cohort announcement are counted apart so one cohort post does not top the list.

  1. 1
    Coinbase Ventures
    Crypto company · 6 sectors
    13 rounds
    0 led
  2. 2
    Ripple
    Crypto company · 4 sectors
    6 rounds
    0 led
  3. 3
    Y Combinator
    Venture fund · 3 sectors
    5 rounds
    0 led
  4. 4
    SBI Holdings
    Traditional finance · 3 sectors
    4 rounds
    3 led
  5. 5
    Blockchain Capital
    Venture fund · 4 sectors
    4 rounds
    2 led
  6. 6
    Maven 11
    Venture fund · 4 sectors
    4 rounds
    2 led
  7. 7
    Variant
    Venture fund · 3 sectors
    4 rounds
    2 led
  8. 8
    QED Investors
    Venture fund · 3 sectors
    4 rounds
    0 led
  9. 9
    Foundation Capital
    Venture fund · 3 sectors
    3 rounds
    3 led
  10. 10
    a16z crypto
    Venture fund · 2 sectors
    3 rounds
    2 led
  11. 11
    Lightspeed Faction
    Venture fund · 1 sector
    3 rounds
    2 led
  12. 12
    Tether
    Crypto company · 3 sectors
    3 rounds
    2 led

Counted apart, accelerator cohort cheques: YZi Labs 21.

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Company counts and licence counts are stated separately, never conflated. One company can hold several licences through separate legal vehicles.