The financial services industry continues to attract tech companies that transform how people and businesses spend, save, borrow, invest, and more. From capital markets to insurance and digital banking to wealth management, the Fintech 250 are among the most promising of these companies globally.
CB Insights has unveiled the third annual Fintech 250 — a list of 250 of the top private fintech companies using technology to transform financial services.
The 2020 Fintech 250 cohort has raised approximately $49.2B in aggregate funding across nearly 900 deals since 2015, and includes startups at different investment stages of development, from early-stage companies to well-funded unicorns.
The companies were selected by CB Insights’ Intelligence Unit from a pool of 16,000 companies, including applicants and nominees.
They were chosen based on several factors, including data submitted by the companies, company business models and momentum in the market, and Mosaic scores, CB Insights’ proprietary algorithm that measures the overall health and growth potential of private companies.
The market map above categorizes the Fintech 250 companies based on core area of focus. Categories are not mutually exclusive.
Table of contents
- 2020 Fintech 250 investment highlights
- The 2020 Fintech 250 categories and most well-funded startups represented
- Previous winners and highlights from the Fintech 250 class of 2018
2020 fintech 250 investment highlights
- Unicorns: 32 of the 250 companies (13%) are valued at or above $1B as of their latest funding round.
- Funding trends: In 2020 year-to-date (YTD), these 250 private companies have raised $10.3B in equity funding across 120 deals (as of 8/26/20).
- Mega-rounds: Since 2019, there have been 87 mega-round ($100M+) equity investments to this year’s Fintech 250, with 35 of them in 2020 YTD.
- Global representation: 46% of the 2020 Fintech 250 are based outside the US. After the US, the UK is home to the most Fintech 250 companies (38), followed by India (20).
- Top VC investor: Ribbit Capital is the most active investor in this year’s Fintech 250 companies. Since 2018, Ribbit has participated in 45 deals to this cohort of companies, including to Hippo, Nubank, Upgrade, Robinhood, and BharatPe.
- Top deal of 2020: Grab raised a $856M Series I in Q1’20 with participation from investors Mitsubishi UFJ Financial Group and TIS INTEC Group.
- Most well-funded: Grab is the most well-funded company on the Fintech 250 list, having raised approximately $9.7B across 22 rounds since 2014.
Clients can access all 250 companies on the CB Insights platform here.
THE 2020 FINTECH 250 CATEGORIES AND MOST WELL-FUNDED STARTUPs REPRESENTED
|Accounting & Finance||AvidXchange|
|Business Lending & Finance||BlueVine|
|Core Banking & Infrastructure||Symphony|
|Credit Score & Analytics||Future Finance|
|Financial Services & Automation||Unqork|
|General Lending & Marketplaces||Konfio|
|Mobile Wallets & Remittances||Grab|
|Payments Processing & Networks||Stripe|
|Payroll & Benefits||Gusto|
|Personal Finance||Varo Money|
|POS & Consumer Lending||Klarna|
|Real Estate & Mortgage||Figure Technologies|
|Regulatory & Compliance||Onfido|
|Retail Investing & Secondary Markets||Robinhood|
Previous winners and highlights from the fintech 250 class of 2018
- Unicorns: 37 of the 2018 Fintech 250 (15%) remained or have since become unicorns with a $1B+ valuation.
- Exits: 10 have gone public and 13 have been acquired.
- Deaths: 0 of these companies have died.
- Deals, funding, and mega-rounds: Since 2019, the 2018 Fintech 250 has raised $22.9B in equity funding across 247 deals, including 83 mega-rounds ($100M+ investments).
This report was created with data from CB Insights’ emerging technology insights platform, which offers clarity into emerging tech and new business strategies through tools like:
- Earnings Transcripts Search Engine & Analytics to get an information edge on competitors’ and incumbents’ strategies
- Patent Analytics to see where innovation is happening next
- Company Mosaic Scores to evaluate startup health, based on our National Science Foundation-backed algorithm
- Business Relationships to quickly see a company’s competitors, partners, and more
- Market Sizing Tools to visualize market growth and spot the next big opportunity