New York, Oct 05, 2021 (GLOBE NEWSWIRE) – CB Insights today named Fundbox to the fourth annual Fintech 250, a prestigious list of emerging private companies working on breakthrough financial technologies. This year’s list was unveiled on stage at CB Insights’ Future of Fintech conference in New York.
“It’s the fourth class of the Fintech 250, and it’s also the most international, representing 26 countries. These 250 fintech startups are tackling an incredibly diverse range of financial services opportunities across 19 industries including digital banking, insurance, payroll, retail investing, and more. ”Said Anand Sanwal, CEO of CB Insights. “After being named in the CB Insights Fintech 250 last year, the 2020 class saw 17 companies go public and 25 be acquired. They have also raised over $ 25 billion in additional funding and forged over 380 new partnerships after being recognized. The Fintech 250 has always put the spotlight on the best fintech companies, and this year is no different. We’re excited to see how these fintech startups are disrupting and transforming financial services in the years to come. “
“Fundbox’s mission is to unleash the growth of small businesses. There are over 30 million small businesses in the United States, and it is estimated that another six million will be created this year, ”said Prashant Fuloria, CEO of Fundbox. “Access to working capital is more important than ever, and Fundbox is fueling the growth of small businesses as they begin to emerge from the recession. We are thrilled to receive this recognition from CB Insights, and we look forward to continuing to support the millions of small businesses across the country.
Using an evidence-based approach, the CB Insights Intelligence Unit selected the Fintech 250 from a pool of over 17,000 companies, including applicants and nominees. They were chosen based on several factors including data submitted by companies, corporate business models and market dynamics and Mosaic scores, CB Insights proprietary algorithm that measures overall health and potential. growth of private enterprises.
Fundbox is an AI-powered financial platform that provides small businesses with quick and easy access to financial tools and resources, and solves working capital needs through credit and payment solutions. About 99% of their credit decisions are automated, as their advanced technology enables the business to accurately assess risk and increase access to capital through superior credit forecasting and decisions.
Fintech 250 2021: Investment Highlights
- Unicorns: 118 of 250 companies (47%) have a value equal to or greater than $ 1 billion in their last funding round
- Funding trends: In 2021 since the start of the year (YTD), these 250 private companies have raised $ 40.3 billion in equity through 275 transactions (as of 09/14/21)
- Mega-towers: Since 2020, there have been 178 mega-towers ($ 100 million +) of equity investments in this year’s Fintech 250, including 138 in 2021 YTD
- Global representation: 36% of 2021 Fintech 250s are based outside the United States. After the United States, the United Kingdom has the highest number of Fintech companies 250 (25), followed by India (12). This year’s winners are based in 26 countries, including France, Brazil, Germany, Indonesia and Nigeria.
- Best venture capitalist: Ribbit Capital is the most active investor in this year’s 250 FinTech companies, having invested in 62 transactions since 2016. Since 2019, Ribbit has participated in 41 transactions with this cohort of companies, notably with Nubank, Uala, Brex , Vouch, Razorpay, and Bharat Pe. Tiger Global Management and Accel followed closely behind with 57 and 55 transactions, respectively.
About CB Insights
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Fundbox is an AI-powered financial platform that provides small businesses with quick and easy access to financial tools and resources. The company solves working capital needs with credit and payment solutions and has connected to more than 325,000 businesses, freeing more than $ 2.5 billion in working capital and investing $ 100 million in AI technology, thereby gaining in-depth knowledge of the small business ecosystem. Fundbox has received numerous awards, including the Forbes AI 50, CB Insights Fintech 250, and the Fintech Breakthrough Awards. Learn more at fundbox.com.