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06.02.2017
1989
The financial technology sector is growing every year, the number of participants in this industry - financial service providers and FinTech startups - is rapidly increasing. All these companies are working to meet the growing needs of customers, thus shaping the future of finance.
If in 2015 the volume of global financing in the FinTech industry amounted to $ 19 billion, then by mid-2016 the same figure had already amounted to $ 15 billion. With the growth of the number of players in this market, it is difficult to keep track of everyone. Business Insider has compiled a list of the most important FinTech startups and financial providers in 2016, dividing them into six areas: digital banks, payments, investments and financial management, insurance, currency exchange, and lending and financing.
Monzo
Number of employees: from 11 to 50
Total funding: $ 17,699,015
What you need to know: British digital bank Monzo was founded in 2015 as Mondo Bank.
Starling Bank
Number of employees: from 1 to 10
Total funding: $ 70,000,000
What you need to know: in November 2016 Amazon Web Services named Starling Bank one of four “hot startups” to watch.
Ally Bank
Number of employees: 1,000 to 5,000
Total funding: n/a
What you need to know: American company Ally Financial went public on April 10, 2014.
Tandem
Number of employees: 101 to 250
Total funding: $34.8 million
What you need to know: Tandem digital bank has an official banking license issued by the Bank of England.
Fidor Bank
Number of employees: n/a
Total funding: n/a
What you need to know: French banking group BPCE acquired this German digital bank on July 28, 2016.
Tide
Number of employees: n/a
Total funding: $2 million
What you need to know: Tide claims it can acquire Mastercard business in just three minutes.
N26
Number of employees: 101 to 250
Total funding: $52.73 million
What you need to know: Prominent Silicon Valley investor Peter Thiel invested in the German digital bank in July 2016.
Simple
Number of employees: 251 to 500
Total funding: $15.29 million
What you need to know know: Simple has over 100,000 users and processed $1.7 billion in transactions in 2015.
Atom
Number of employees: 11 to 50
Total funding: $166.34 million
What you need to know: Atom customers can log into the bank's mobile app using facial recognition.
Dwolla
Number of employees: 51 to 100
Total funding: $32.45 million
What you need to know: The Des Moines, Iowa-based company announced in November 2016 year that it was abandoning its mobile app.
Venmo
Number of employees: 51 to 100
Total funding: n/a
What you need to know: Braintree acquired this P2P payment provider in 2012. Today, Venmo has become a household name in the P2P payments space.
PayPal
Number of employees: over 10,000
Total funding: n/a
What you need to know: PayPal was founded on December 1, 1998, and was acquired by eBay on July 8, 2002. PayPal is now an independent company again.
Paydiant
Number of employees: 51 to 100
Total funding: $34.6 million
What you need to know: Paydiant, which is owned by PayPal, uses a cloud platform that allows merchants and banks to implement their own mobile wallets within their apps.
Samsung Pay
Number of employees: n/a
Total funding: n/a
What you need to know: The mobile wallet supports more than 300 banks, and Samsung plans to add more.
Visa Checkout
Number of employees: n/a
Total funding: n/a
What you need to know: Visa Checkout works with major merchants around the world.
BitPesa
Number of employees: 11 to 50
Total funding: $1.75 million
What you need to know: BitPesa currently accepts Bitcoin and provides access to fiat currencies on users' mobile phones in Kenya, Nigeria, Uganda, and Tanzania.
WorldRemit
Number of employees: 101 to 250
Total funding: $147.66 million
What you need to know: WorldRemit is available in 50 countries and has received funding from companies such as Accel Partners and TCV.
Stripe
Number of employees: 501 to 1,000
Total funding: $440 million
What you need to know: in The company raised $150 million in its latest funding round, valuing Stripe at $9 billion.
Braintree
Number of employees: 251-500
Total funding: n/a
What you need to know: The PayPal-owned company processes payments for companies like Airbnb, Facebook, GitHub, Pinterest, and Uber.
Klarna
Number of employees: 1,000-5,000
Total funding: $291.33 million
What you need to know: Klarna acquired German P2P payments startup Cookies, which recently announced its intention to shut down.
Android Pay
Number of employees: n/a
Total funding: n/a
What you need to know: Android Pay has a 60% market penetration in Singapore.
Chase Pay
Number of employees: n/a
Total funding: n/a
What you need to know: Chase Pay officially launched in-app on November 21, 2016.
Azimo
Number of employees: 51 to 100
Total funding: $46.59 million
What you need to know: Azimo promises money transfers in one hour or less.
Xoom
Number of employees: n/a
Total funding: n/a
What you need to know: PayPal acquired this international money transfer provider July 2, 2015.
iZettle
Number of employees: 251 to 500
Total funding: $172.29 million
What you need to know: iZettle introduced the world's first mini-terminals for accepting cards and software for mobile devices in 2010.
Square
Number of employees: 501 to 1,000
Total funding: n/a
What you need to know: Square went public on November 9, 2015 and raised $243 million.
Adyen
Number of employees: 251 to 500
Total funding: $266 million
What you need to know: Among Adyen's clients include Facebook, Uber, Netflix, Spotify, Airbnb, Yelp, Booking.com, SoundCloud, Vodafone, and more. ShopKeep Number of employees: 101 to 250 Total funding: $72.2 million What you need to know: ShopKeep has 23,000 users and is a member of Apple's Mobile Partnership Program. Remitly Number of employees: 101 to 250 Total funding: $100 million What you need to know: Remitly operates in 49 of the 50 US states, as well as Canada. Transferwise Number of employees: 251 to 500 Total funding: $ 116.37 million
What you need to know: The CEO of Transferwise was part of the team that founded Skype in 2003.
Apple Pay
Number of employees: n/a
Total funding: n/a
What you need to know: Apple Pay launched on October 20, 2014.
Bought by Many
Number of employees: 11 to 50
Total funding: n/a
What you need to know: Bought by Many has won the Fintech Innovation Awards twice, in 2015 and 2016.
Slice Labs
Number of employees: 11 to 50
Total funding: $3.9 million
What you need to know: The startup offers special conditions for Uber and Lyft drivers.
Shift
Number of employees: 11 to 50
Total funding: $11.8 million
What you need to know: The technology used by Shift automatically identifies fraudulent networks in the insurance and e-commerce sectors.
Cuvva
Number of employees: 1 to 10
Total funding: $759,150
What you need to know: The British company provides car insurance only for the period of time that the client needs - an hour, a day, a week, etc.
Oscar
Number of employees: 251 to 500
Total funding: $727.5 million
What you need to know: The health insurance startup was founded on July 1, 2013.
WeSavvy
Number of employees: 1 to 10
Total funding: $40,000
What you need to know: WeSavvy offers insurance programs for those who lead a healthy lifestyle and engage in walking, running, cycling.
Knip
Number of employees: 101 to 250
Total funding: $18.3 million
What you need to know: The company has offices in Switzerland, Germany, and Serbia.
Roost
Number of employees: 11 to 50
Total funding: $6.48 million
What you need to know: Roost specializes in smart home technologies.
Kasko
Number of employees: 1 to 10
Total funding: $682,710
Things to know: Kasko was founded on January 1, 2015.
Lemonade
Number of employees: 11 to 50
Total funding: $13 million
Things to know: Lemonade has access to over 2,500 retailers and advertisers through partnerships with companies like Apple, Netflix, Macy's, Nordstrom, Walmart, and more.
Teambrella
Number of employees: n/a
Total funding: n/a
Things to know: Teambrella users provide coverage for each other. When one person files a claim against their team, the others reimburse the entire amount.
Fitsense
Number of employees: 1 to 10
Total funding: $44,000
What you need to know: Fitsense uses data from wearable devices to help insurance companies personalize insurance programs for individuals.
Friendsurance
Number of employees: 51 to 100
Total funding: $15.3 million
What you need to know: The insurance company returns bonuses (cashback) to small groups of users at the end of the year if they did not file claims.
Cocoon
Number of employees: 11 to 50
Total funding: $4.11 million
What you need to know: Cocoon specializes in smart home security.
Betterment
Number of employees: 101 to 250
Total funding: $205 million
What you need to know: Betterment is the most popular robo-advisor in the US and manages assets worth $6 billion.
Vanguard
Number of employees: over 10,000
Total funding: n/a
What you need to know: The Vanguard Group of companies manages assets worth $3.6 trillion.
BillGuard
Number of employees: over n/a
General funding amount: n/a
What you need to know: On September 24, 2015, BillGuard announced that it was becoming part of the Prosper Marketplace.
Moneyfarm
Number of employees: 51 to 100
Total funding amount: $29.81 million
What you need to know: Moneyfarm operates in Italy and the UK.
Robinhood
Number of employees: 51 to 100
Total funding amount: $66 million
What you need to know: One of Robinhood's services, called Robinhood Gold, allows you to trade outside the trading day on the exchange, and also provides large instant deposits.
Advizr
Number of employees: 1 to 10
General Funding: $3.59 million
What you need to know: The CEO of Advizr worked as a client advisor for 12 years before deciding to start his own company.
Nutmeg
Number of employees: n/a
Total funding: $75.02 million
What you need to know: Nutmeg specializes in individual savings accounts and retirement benefits.
Wealthfront
Number of employees: n/a
Total funding: $129.5 million
What you need to know: Wealthfront manages accounts up to $10,000.
Habito
Number of employees: 11 to 50
Total funding: $2.2 million
What you need to know: Habito works with mortgage programs.
Motif
Number of employees: 51 to 100
Total funding: $126.5 million
What you need to know: Motif offers eight different account types for different investors.
Hedgeable
Number of employees: 11 to 50
Total funding: $1.85 million
What you need to know: Hedgeable focuses on millennials and positions itself as the sensei when it comes to investing.
Sigfig
Number of employees: 51 to 100
Total funding: $60 million
What you need to know: Sigfig received backing from UBS, Santander InnoVentures and others. Large companies.
Scalable Capital
Number of employees: 11 to 50
Total funding: $12.27 million
What you need to know: The company focuses on risk management.
Mint
Number of employees: n/a
Total funding: n/a
What you need to know: Intuit acquired Mint on September 14, 2009.
Wealthsimple
Number of employees: 11 to 50
Total funding: $25.66 million
What you need to know: Wealthsimple is the largest automated investment service in Canada.
Charles Schwab
Number of employees: n/a
Total funding: n/a
Things to know: Charles Schwab went public on January 10, 2003.
Ripple
Number of employees: 101 to 250
Total funding: $93.6 million
Things to know: Ripple claims to have partnered with 15 of the top 50 banks.
Kraken
Number of employees: 11 to 50
Total funding: $6.5 million
Things to know: This Bitcoin exchange says it was the first to post price and volume information on Bloomberg terminals.
Coinbase
Number of employees: 101 to 250
Total funding: $117.21 million
Things to know: Coinbase was founded on June 1, 2012.
Bitstamp
Number of employees: 11 to 50
Total funding: $10 million
Things to know: Bitstamp became the first virtual currency exchange to receive a license in the EU.
BTC
Number of employees: 11 to 50
Total funding: n/a
Things to know: BTC is the world's largest media group dedicated to Bitcoin.
Ethereum
Number of employees: 11 to 50
Total funding: n/a
Things to know: Ethereum works with Bitcoin, developer APIs, user applications, etc.
Digital Asset
Number of employees: n/a
Total funding: $67.2 million
Things to know: Digital Asset has signed deals with Accenture, Broadridge, and PwC.
Circle
Number of employees: 51 to 100
Total funding: $136 million
Things to know: Big players like Goldman Sachs and Accel have provided financial support to Circle.
AvantCredit
Number of employees: n/a
Total funding: n/a
What you need to know: AvantCredit, a subsidiary of Avant, has provided loans totaling £2 billion to more than 450,000 customers worldwide.
Zopa
Number of employees: n/a
Total funding: $68.63 million
What you need to know: Zopa was one of three members of the UK peer-to-peer financing association alongside FundingCircle and RateSetter.
Bond Street
Number of employees: 11 to 50
Total funding: $11.50 million
What you need to know: Bond Street offers loans to small businesses in the amount of $ 50,000 to $ 500,000 at a rate of 6% for a period of 1 to 3 years.
SoFi
Number of employees: from 501 to 1,000
Total funding: $ 1.38 billion
What you need to know: SoFi has already provided loans worth $ 13 billion to more than 200,000 customers.
Assetz
Number of employees: from 11 to 50
Total funding: $ 4.94 million
What you need to know: Assetz reports that none of its client investors have suffered losses thanks to the company's automated investment accounts.
Funding Circle
Number of employees: from 251 to 500
Total funding: $273.24 million
What you need to know: Funding Circle has lent to over 20,000 businesses and helped over 55,000 clients globally invest in small businesses.
Younited Credit
Number of employees: 101 to 250
Total funding: $74.34 million
What you need to know: Younited Credit is also known as Prêt d'Union.
Orchard
Number of employees: 11 to 50
Total funding: $44.70 million
What you need to know: Orchard uses its technology and infrastructure to build systems that help marketplace lenders grow.
China Rapid Finance
Number of employees: 1,000 to 5,000
Total funding: $91 million
What you need to know: The company is the largest online lending service in China, serving internet users and the growing middle class.
Patch of Land
Number of employees: 11 to 50
Total funding: $24.8 million
What you need to know: By the end of 2016, Patch of Land had issued loans worth $194,083,766.
LendUp
Number of employees: 101 to 250
Total funding: $111.5 million
What you need to know: LendUp offers online training courses on its website.
Prosper
Number of employees: from 501 to 1,000
Total funding: $354.9 million
What you need to know: Prosper became the first online lending marketplace in the United States. Launched in 2006.
Affirm
Number of employees: 101 to 250
Total funding: $420 million
What you need to know: The finance company was founded in San Francisco in 2012.
Kreditech
Number of employees: 251 to 500
Total funding: $152.19 million
What you need to know: Kreditech provides access to loans to people with little or no credit history.
Auxmoney
Number of employees: 101 to 250
Total funding: $198.18 million
What you need to know: Auxmoney is a German P2P lending platform.
OnDeck
Number of employees: 501 to 1,000
Total funding: $190 million
What you need to know: OnDeck has provided loans to small businesses worth over $5 billion.
LendInvest
Number of employees: 101 to 250
Total funding: $58.62 million
What you need to know: LendInvest calls itself the leading online lending and investment platform in the UK.
Bondora
Number of employees: 51 to 100
Total funding: $7.01 million
What you need to know: The volume of loan deals on Bondora has already reached about €400 million.
Lendio
Number of employees: 11 to 50
Total funding: $51 million
What you need to know: Lendio forwards a user's application to more than 75 lenders for consideration.
LendingClub
Number of employees: 501 to 1,000
Total funding: n/a
What you need to know: LendingClub's CEO resigned after an internal investigation in May 2016.
Seedrs
Number of employees: n/a
Total funding: $22.76 million
What you need to know: Seedrs is a crowdfunding platform in Europe and plans to attract US investors soon.
Kabbage
Number of employees: n/a
Total funding: $238.65 million
What you need to know: Kabbage has provided funding totaling over $2 billion to over 84,000 companies.
Lufax.com
Number of employees: 501 to 1,000
Total funding: $1.69 billion
What you need to know: Lufax was founded in September 2011 in Shanghai and has since become the largest online finance company in China.
Market Invoice
Number of employees: from 51 to 100
Total funding: $29.74 million
What you need to know: The volume of deals on this P2P platform has already exceeded 1,021,631,610 pounds sterling.
Crowdfunder
Number of employees: 11 to 50
Total funding: $4.9 million
What you need to know: The Los Angeles-based company focuses on simplifying US laws for startups and small businesses.
Crowdcube
Number of employees: n/a
Total funding: $28.23 million
What you need to know: The number of registered users of this P2P platform is 325,220, the volume of deals is £197,333,589.
BlueVine
Number of employees: 11 to 50
Total funding: $64m
What you need to know: BlueVine offers credit lines of up to $100,000 and fixed payments over six months.
RateSetter
Number of employees: 51 to 100
Total funding: $46.83m
What you need to know: RateSetter has provided loans worth £1,581,503,579.
Source: psm7.com
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