Our blog contains short snippets from our full research coverage. We release new content regularly, so check back often for the latest insights.
The following infographic is a heat map indicating where FinTech startups exist across 53 countries. Currently, the United States is leading the way with 674 companies. The United Kingdom is in second with 142 companies. We are currently tracking over 1,141 Financial Technology companies in 18 categories across 53 countries, with a total of $19.8 Billion in funding. To see the full list of Financial Technology companies, contact us using the form on www.venturescanner.com.
The following infographic summarizes the number of companies in each FinTech category to show which FinTech categories are seeing the most innovation. We are currently tracking over 1,130 companies in 18 categories across 53 countries, with a total of $19.7 Billion in funding. To see the full list of Financial Technology companies, contact us using the form on www.venturescanner.com.
Check out our updated our Financial Technology sector map for May 2015! We are currently tracking over 1,129 companies in 18 categories across 44 countries, with a total of $19.7 Billion in funding. To see the full list of Financial Technology companies, contact us using the form on www.venturescanner.com.
Today we are featuring Robinhood from our FinTech category in our Company Player Card series. Robinhood is a smartphone application designed for retail equity trading. They monetize via margin trading fees and un-invested cash interest income. The company was founded in 2013 and has raised $16 million in 2 rounds of funding. To see the full list of 1,094 companies in our FinTech category, contact us using the form on www.venturescanner.com.
It has been a year since we initiated coverage on the Financial Technology space. The scan was launched with 248 companies across 10 categories. Today, we are tracking 1,072 companies across 17 categories…and growing. Apart from the large database of companies, the scan has been cataloging FinTech news events around the world, every day. Interestingly, we note that the velocity of FinTech news has been increasing in recent months. To see the full list of companies, contact us using the form on www.venturescanner.com.
As we enter the new year, the Venture Scanner Financial Technology scan is currently tracking 1,042 companies across 17 categories (and counting). Of the 1,042 companies, 481 have publicly announced funding of more than $15B in aggregate. Check out a snapshot of the FinTech scan below:
Yesterday, Overstock announced that it would now accept Bitcoin in over 100 countries worldwide. This is a pretty big deal in validating a potentially compelling use case of bitcoin — international payments.
In the course of due diligence work I was doing for a client in the remittance space, I stumbled across TransferWise’s Board of Shame. TransferWise is one of the more notable Financial Technology companies in the remittance space. Their Board of Shame was a marketing initiative to highlight the fees that traditional remittance companies hide through a mark-up in their exchange rates. Poking around their website, TransferWise’s message is clear and consistent: unlike existing remittance players, we do not hide fees in exchange-rate mark-ups; we are able to offer low prices because our technology makes our money transfer process more efficient.
Last week, Funding Circle announced that it had raised $65M in venture capital, only nine months after its last $37M round. Funding Circle is a British peer-to-peer (P2P) lending site that allows individuals to lend money directly to UK small and medium businesses. A key benefit of Funding Circle loans is in their fast approvals (“a few days”, compared to a 15-20 week process at traditional banks) at similar interest rates. The company recently expanded into the US by merging with US-based Endurance Lending Network in October 2013. In the US, the peer-to-peer lending space is dominated by two companies — Lending Club and Prosper — given the regulatory complexity in the US. These two companies corner 98% of a fast growing multi-billion dollar market (source). Just last week, market-leader Lending Club announced that it had crossed the $5B mark in total loans issued, with $1B of it issued in the past quarter alone (source). Last month, Lending Club was also reported to be planning a $500M IPO in the second-half of 2014; the company was valued at $3.8B in April this year, a 63% jump from November 2013(source). In the area of P2P loans specifically for businesses, Lending Club is the only one out of the two that offers business loans.
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