27 Most Valued World Fintech Unicorns, 8 From China

27 Most Valued World Fintech Unicorns, 8 From China

by August 29, 2016
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Business Insider SingaporeCBInsights, Funderbeam, and Crunchbase together have created the world’s fintech unicorns – fintech start-ups valued at over $1 billion.

 

Fintech Unicorns Worth $1 billion

27. Rong360, Chinese Financial Comparison Site

rong360Value: $1 billion | Raised: $258 million

Founded: 2011 | TOP 30 FINTECH STARTUPS IN SINGAPORE | HQ: Beijing

Rong360 is riding the online finance wave in China, letting consumers compare and contrast all the various products that are being offered. Silicon Valley’s Sequoia Capital, an early investor in Google, Apple, and WhatsApp, is a backer.

 

26. China Rapid Finance, Chinese Peer-to-peer Lender

China rapid financeValue: $1 billion | Raised: $56 million

Founded: 2001 (although online lending did not start until 2011) | TOP 30 FINTECH STARTUPS IN SINGAPORE | HQ: Shanghai

China Rapid Finance is one of the country’s largest online consumer loans marketplace and has made 4.7 million loans over its platform worth over $4.7 billion. The company is said to be planning a US IPO.

 

25. Zuora, Software That Lets Companies Take Subscriptions

zuoraValue: $1 billion | Raised: $242.5 million

Founded: 2007 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: San Francisco

Zuora is the world’s largest provider of Relationship Business Management (RBM) services. At the heart of RBM is the idea that customers are happier subscribing to a service on a recurring basis than they are purchasing a product once.

 

24. Coupa Software, A Cloud-based Spending Management Tool

coupa softwareValue: $1 billion | Raised: $169 million

Founded: 2006 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: California

Coupa pitches itself as “savings as a service” — plug in its software and it will help identify savings in your business and help you manage costs. Salesforce manages 80% of its costs with Coupa.

 

23. Jimubox, A Chinese Peer-to-peer Loan Provider

jimuboxValue: $1 billion | Raised: $131.2 million

Founded: 2013 | TOP 30 FINTECH STARTUPS IN SINGAPORE | HQ: Beijing

The company is part of a wave of so-called “internet finance” companies that have sprung up across China in the last few years and is experiencing explosive growth.

 

22. Kabbage, Online Small Business Lender

KabbageValue: $1 billion | Raised: $238.6 million

Founded: 2009 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: Atlanta

Kabbage plugs into social media data and builds that into its credit scoring model and has a fully automated loan application process that can give a business a loan in as little as 7 minutes. Santander recently partnered with the platform.

 

21. Gusto, Online Payroll Tools For Small Businesses

gustoValue: $1 billion  | Raised: $161.1 million

Founded: 2011 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: San Francisco

Gusto, formerly known as ZenPayroll, offers cloud-based software that automates payroll and tax calculations for small businesses. 25,000 companies use it and it is backed by Google Capital.

 

20. Funding Circle, A Peer-to-peer Loan Platform For Small Businesses

funding-circleValue: $1 billion | Raised: $273.2 million

Founded: 2009 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: London

Funding Circle is a business financing company that helps small businesses develop to make our economy stronger. It has funded $1.8 billion worth of loans since launch and is currently growing its business in America.

 

Fintech Unicorns Worth Above $1 billion and Less Than $2 billion

19. TransferWise, An International Money Transfer Service

TRANSFERWISEValue: $1.1 billion | Raised: $116.3 million

Founded: 2010 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: London

TransferWise is the clever new alternative to banks and brokers, that allows people to transfer money abroad at a lower cost. It uses technology developed by the people who built Skype and PayPal to remove all the fees the foreign exchange industry has kept hidden for decades. The company has transferred $4.7 billion since launch and is now doing $783 million a month.

 

18. FinancialForce.com, Sells Cloud-based Accounting Apps

FinancialForce.comValue: $1.5 billion | Raised: $193.9 million

Founded: 2009 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: San Francisco

FinancialForce is backed by Salesforce Ventures, Technology Crossover Ventures, Advent International and UNIT4. Tonnes of big enterprise companies use it, including Hewlett Packard and Lexmark. It was spun out of Salesforce.

 

17. Prosper, A Peer-to-peer Lending Platform For Consumers

prosperValue: $1.9 billion | Raised: $354.9 million

Founded: 2005 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: San Francisco

Over $6 billion has been lent over the platform. Backers include former Google CEO Eric Schmidt, famed Silicon Valley VC fund Sequoia Capital, and Credit Suisse.

 

Fintech Unicorns Worth $2 billion

16. Avant Credit, Online Lender

advant creditValue: $2 billion | Raised: $654 million

Founded: 2012 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: Chicago

The company has lent over £2 billion to more than 450,000 people since launch. However, it has recently run into some trouble amid a wider slowdown in the online lending industry and has been cutting back jobs and slashing lending targets.

 

15. One97, Runs India’s Biggest Mobile Marketplace and Wallet

one97 paytmValue: $2 billion | Raised: $585 million

Founded: 2000 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: New Delhi

Paytm has 50 million registered wallets and handles 800,000 orders a day. Uber is a partner.

 

14. Zenefits, Free HR Software for Small Businesses

ZenefitsValue: $2 billion | Raised: $583.6 million

Founded: 2013 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: San Francisco

Revenue grew from $1 million (£640,000) to $20 million (£12.7 million) between 2013 and 2014, leading TechCrunch to call Zenefits one of the fastest growing software companies of all-time. However, the startup has witnessed a spectacular collapse this year, with its value more than halving from $4.5 billion after it emerged it was selling insurance without a licence in multiple states.

 

13. ZhongAn Insurance, China’s First Online-only Insurer

ZhongAn InsuranceValue: $2 billion | Raised: $931.3 million

Founded: 2013 | HQ: Shanghai

The company was set up by the hottest names in Chinese tech: Alibaba founder Jack Ma, Tencent chairman Ma Huateng, and PingAn chairman Ma Mingzhe. The company is planning a $2 billion IPO in China this year, according to Reuters.

 

12. GreenSky, Lets Businesses Offer Credit to Customers

greenskyValue: $2 billion | Raised: At least $150 million

Founded: 2006 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: Atlanta

GreenSky works with partners including huge US DIY chain Home Depot and the likes of Room to Go and Mac Tools.

 

Fintech Unicorns Worth Above $2 billion and Less Than

$5 billion

11. Klarna, Online Payment Processing

klarnaValue: $2.25 billion | Raised: $291.3 million

Founded: 2005 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: Stockholm

Last year it processed $9 billion worth of transactions and it deals with 30% of all online payments in its native Sweden. Sequoia Capital, the Silicon Valley fund that backed PayPal, is an investor.

 

10. Adyen, An Online Payment Processor

adyenValue: $2.3 billion | Raised: $2.3 billion

Founded: 2006 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: Amsterdam

Facebook, Airbnb, Uber, SoundCloud, and Netflix are all customers. Iconiq Capital, “a “billionaires fund” backed by the likes of Jack Dorsey and Mark Zuckerberg, has invested.

 

9. Mozido, A Mobile Payment and Aallet Provider

mozidoValue: $2.4 billion | Raised: $307.2 million

Founded: 2005 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top | HQ: New York

The company is targeting emerging markets like Mexico, Southeast Asia, and Africa where a generation of consumers are skipping banking and moving straight to mobile money. Former Google CEO Eric Schmidt is an investor through his early-stage fund TomorrowVentures.

 

8. Oscar Health, Online Health Insurance

oscar healthValue: $2.7 billion  | Raised: $727.5 million

Founded: 2013 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: New York

The company took just 16 months to break the $1 billion valuation mark and backers include PayPal co-founder Peter Thiel, Goldman Sachs, and Li Ka-shing, Asia’s richest man.

 

7. Credit Karma, Free Credit Scores

Credit KarmaValue: $3.5 billion | Raised: $368 million

Founded: 2007 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: San Francisco

The company has 35 million users and Google Capital is an investor.

 

 

6. SoFi, A Marketplace For Student Loan Refinancing

sofiValue: $4 billion | Raised: $1.3 billion

Founded: 2011 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: San Francisco

It has financed $10 billion (£7.6 billion) of loans to date and has almost 150,000 members. However, like most in the industry SoFi has been suffering from a slowdown in growth in the online lending sector.

 

5. Stripe, Online Payment Processing

STRIPEValue: $5 billion | Raised: $260 million

Founded: 2010 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top"Top | HQ: San Francisco

Fitbit, Pinterest, Twitter, Salesforce.com, Lyft, The Guardian, Kickstarter, and Reddit are some of the notable companies that use it.

 

Fintech Unicorns Worth Above $5 billion

4. Qufenqi, Lets Chinese Consumers Buy Electronics In Installments

QufenqiValue: $5.9 billion| Raised: $874 million

Founded: 2014 | HQ: Beijing

It’s raised a huge amount of money in a short time and is targeting China’s fast-growing aspirational classes. Like a lot of Chinese companies, it hasn’t disclosed much more than funding but investors clearly see big growth potential.

 

3. JD Finance, Online Financial services Tied to Online Shopping

jdcomValue: $7 billion  | Raised: $1 billion

Founded: 1998 | TOP 30 FINTECH STARTUPS IN SINGAPORE | HQ: Chaoyang, China

JD Finance is a spin-off from Chinese online shopping giant JD.com. It provides credit for consumers shopping on JD.com, as well as other financial services.

 

2. Lufax, Chinese Peer-to-peer Lender

LufaxValue: $18.5 billion | Raised: $368 million

Founded: 2011 | TOP 30 FINTECH STARTUPS IN SINGAPORE "Top| HQ: Shanghai

Lufax has financed 20,000 loans worth a collective $2.5 billion (£1.6 billion) since launch. It is controlled by Ping An Insurance, the country’s largest insurer by value.

 

1. Ant Financial, Runs China’s Biggest Mobile Payment Product Alipay

Ant FinancialValue: $60 billion | Raised: $4.5 billion

Founded: 2004 | TOP 30 FINTECH STARTUPS IN SINGAPORE"Top | HQ: Hangzhou

Ant Financial’s Alipay is an absolute Goliath in China, where mobile payments are much more common. The company is a spin-off from Alibaba, the e-commerce giant, and does vouchers and credit as well as payments.

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