FNZ has $1.4B on record. The latest round is a $1.4B Growth (February 2022). Size your own round against the evidence it must buy, not against the stage letter.
Key takeaways
- Round size should be derived from the evidence the next investor needs, not from the stage label.
- Named participants on a record tell you which funds write at this size and stage.
- Plan the raise timeline backwards from your cash-out date, with a third added for slippage.
Not every round gets a letter. Growth capital is negotiated against different evidence: retention, unit economics and a credible path to funding operations without the next round.
The record here belongs to Adrian Durham, founder of FNZ (New Zealand).
| | | |---|---| | Founder | Adrian Durham | | Company | FNZ (New Zealand) | | Total raised | $1.4B | | Latest round | Growth — $1.4B | | Round date | February 2022 | | Named participants on record | Canada Pension Plan Investment Board, Motive Partners |
Lifetime capital equals this round. Anything earlier was small, undisclosed or non-dilutive.
The round size sets the next evidence bar. Investors size the following round against what this one was expected to buy. Write that expectation down before you sign.
Named participants signal the buyer pool. Canada Pension Plan Investment Board, Motive Partners are on record here. Funds with that profile are the realistic audience for a comparable raise.
Timing is data. The round closed in February 2022. Fundraises take longer than founders plan; count backwards from the date you need cash, not from the date you want a term sheet.
1. Write the two or three pieces of evidence your next round must show. 2. Cost out the months and headcount required to produce that evidence, then add a third for slippage. 3. Build the investor list from funds that have written cheques of this size at this stage, not from brand preference. 4. Ask each lead what they expect to see at the next round, and hold them to it in writing.
The letter on the round matters far less than whether the money buys the evidence the next buyer needs.
Frequently asked questions
- How much has Adrian Durham raised for FNZ?
- FNZ has $1.4B in disclosed funding on record, most recently a $1.4B Growth in February 2022.
- Who invested in FNZ?
- Named participants on record include Canada Pension Plan Investment Board, Motive Partners. Records list participants, not allocations or terms.
- Where do these figures come from?
- Structured founder funding records: total raised, round stage, round amount, round date and named participants. They exclude valuation, terms and board composition.
