CB Insights Reveals Third Annual “FinTech 250” List

The results are in! This week, research CB Insights revealed their “FinTech 250” list for 2020, recognizing the fastest-growing companies in the space.

Of the 250 startups featured, 32 are considered “unicorns,” meaning they’re valued at more than $1 billion. What’s more, 87 of those selected have raised “mega-rounds” of a $100 million or more since 2019, with 32 of those rounds coming this year. As for the combined list, as of August 28th, the 250 startups had raised a total of $10.3 billion since the year began. Looking back further, the companies included have closed nearly 900 deals since 2015, tallying $49.2 billion.

As part of their list, CB Insights also highlighted the most well-funded startups across several FinTech categories. For example, Varo Money — which recently obtained its own national bank charter — was the top Personal Finance company, thanks in part to the $241 million it raised in June. Elsewhere, Robinhood‘s presence atop the Retail Investing list should come as no surprise as the app has already seen a $600 million Series F and $200 million Series G in 2020 so far. Other categories included Business Lending & Finance (Bluevine), Crypto (Coinbase), Digital Banking (Nubank), Credit Score & Analytics (Future Finance) and many more.

Notably, while CB Insights recently found Sequoia Capital to be the most active FinTech investor of the past year, Ribbit Capital had the largest representation in the FinTech 250 list, participating in rounds for 45 of the featured companies since 2018. Among the companies the VC has funded are Nubank, Upgrade, Robinhood, and others. For the record, on the aforementioned list of the past year’s most active investors, Ribbit placed third behind 500 Startups.

Announcing this year’s list, CB Insights CEO Anand Sanwal remarked, “We’re proud to, once again, recognize the 250 best private fintech companies globally. This year’s Fintech 250 represents 25 countries and spans 19 categories — reimagining everything from retail banking and crypto, to insurance and asset management.” Sanwal continued, noting, “The previous Fintech 250 class raised more than $22 billion in investor financing and saw more than 20 exits after being recognized, and we expect this year’s class will have similar success as they continue to transform how people and businesses spend, save, borrow, and invest their money.”

Overall, this year’s FinTech 250 list includes companies that have become household names, as well as some decidedly smaller startups. What’s more, the list not only highlights how wide the FinTech tent stretches in terms of categories but also how the concept has spread worldwide. With much success to their names already, as Sanwal points out, we can expect more big things from these 250 companies in the months and years ahead.

Fintech companies continue to grow and provide us with different options on how to manage, save and grow our money.

Fintech companies have grown so big that there are just so many to choose from but I guess its also for the benefit of the consumers.

Comments are closed.


Jonathan Dyer

I'm a small town guy living in Los Angeles looking to make solid financial decisions. I write for a number of finance websites, including HuffingtonPost and Business2Community. I founded DyerNews.com in 2015 to focus on personal finance and the emerging FinTech markets.

Other Articles by Jonathan Dyer

Bilt Extends Rent Day Promotion for Black Friday and Beyond

In October, the unique Bilt Mastercard unveiled its inaugural Rent Day promotion, which included the opportunity for cardholders to earn double rewards and nearly all of their purchases on the first of the month. That deal returned in November alongside the addition of a United Airlines status match offer and more. Now, just in time for Black Friday, Small Business Saturday, and Cyber Monday, Bilt is extended December's Rent Day...

Venmo App Adds Charitable Giving Interface

Although Thanksgiving and retail holidays such as Black Friday, Small Business Saturday, and Cyber Monday may be on the minds of many people, a popular peer-to-peer payment app is looking ahead to Giving Tuesday. This week, Venmo announced the rollout of a new interface that will make it easier for users to discover and donate to various charities. The feature is now live in the latest version of the Venmo...

American Express Introduces New Credit Card Approval Process

For some consumers, applying for a new credit card can be anxiety-inducing as there's a chance that they could not only be declined for the product but also have their credit impacted by the credit inquiry. To give these applicants better peace of mind, American Express is rolling out a new approval process. Amex has announced a new pilot program for its U.S. Personal Cards (meaning non-business cards) that will allow...