Funded Financial Services Startups in Chicago
Recent disclosed rounds in Chicago financial services skew heavily toward a single outlier: First Industrial Realty Trust’s $450M (2025-05-12) is the large…
Recent disclosed rounds in Chicago financial services skew heavily toward a single outlier: First Industrial Realty Trust’s $450M (2025-05-12) is the largest disclosed amount in the 50 rows, far above the next-largest disclosed $220M (Kanbrick, 2024-03-01) and the $104M high of 2025 (Zero Hash, 2025-09-24). The list also shows a tight temporal cluster around mid-2024 and early-2025: 11 rounds between 2024-11-06 (Clearcover) and 2025-07-16 (ghSMART), including multiple disclosed rounds in the $40M–$150M range (e.g., Edge Focus $150M on 2025-04-17; Zing Health $140M on 2024-09-25; Clearcover $44M on 2024-11-06).
Stage labels are frequently unspecified: 22 of 50 rows are “Series Unknown” and 2 are “undisclosed,” so disclosed comparisons mostly hinge on a minority of entries with stated amounts. The disclosed minimum is $240K (Eno Succession, 2023-10-02; and also Normal Finance $240K on 2022-10-07), while the most recent entry is KOR Financial with an undisclosed amount on 2025-10-16. Dates span 2022-07-11 (IMX) through 2025-10-16.
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Frequently asked
Which disclosed round is the clear outlier, and how far above the rest is it?
First Industrial Realty Trust’s $450M (2025-05-12) dwarfs the next-largest disclosed amounts of $220M (Kanbrick, 2024-03-01) and $150M (Edge Focus, 2025-04-17), while the rest of the disclosed rounds generally sit well below $100M (e.g., Vinyl Equity $12M on 2025-04-14; Obie $26M on 2023-05-17).
Do the rounds cluster in a specific recent time window?
Yes. Between 2024-11-06 (Clearcover) and 2025-07-16 (ghSMART) there are 11 entries, with multiple high-disclosed deals in that stretch such as Edge Focus $150M (2025-04-17), Zing Health $140M (2024-09-25), and First Industrial Realty Trust $450M (2025-05-12).
What’s the stage/label mix, and how much is missing or not specified?
“Series Unknown” appears in 22 of 50 rows, and “undisclosed” appears in 2 rows (KOR Financial 2025-10-16; Linden Capital Partners 2024-12-18). That means disclosed amount comparisons rely on a smaller subset with explicit dollars, like Zero Hash $104M (2025-09-24) and Visible.vc $1M (2025-06-18).
Where do disclosed amounts tend to land versus the low end?
The lowest disclosed amount shown is $240K (Eno Succession $560K on 2023-10-02 is higher; but Normal Finance $240K on 2022-10-07 matches the $240K minimum among stated amounts). At the high end, the only disclosed rounds in the $200M+ band are Kanbrick $220M (2024-03-01) and First Industrial Realty Trust $450M (2025-05-12), making the top end unusually concentrated.
How do the most recent and oldest rounds compare in disclosure?
The most recent row is KOR Financial on 2025-10-16 with an undisclosed amount, while the oldest row shown is IMX on 2022-07-11 with a stated $5M. This creates a disclosure asymmetry at the temporal edges: latest entries are more likely to omit amounts (e.g., KOR Financial), while older entries include more explicit figures (e.g., IMX $5M).
Are there any repeated “unknown” patterns that affect how an analyst should interpret the table?
Yes. With 22 “Series Unknown” rows and 2 additional “undisclosed” rows, both the funding stage and many deal sizes are partially opaque. For example, ghSMART (Series Unknown, 2025-07-16) and Bonside (Series Unknown, 2025-05-18) show that recency doesn’t necessarily come with disclosed amounts like Zero Hash’s $104M (2025-09-24).
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