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 groundbreaking financial technology. This year’s list was unveiled on stage at CB Insights’ Future of Fintech conference in New York City.
“This is the fourth class of the Fintech 250, and it’s also the most international, representing 26 countries. These 250 fintech startups are attacking an incredibly diverse array of financial services opportunities across 19 sectors, including digital banking, insurance, payroll, retail investing, and more,” said CB Insights CEO Anand Sanwal. “After being named to the CB Insights Fintech 250 last year, the 2020 class saw 17 companies go public and 25 get acquired. They also went on to raise over $25B in additional financing and forged more than 380 new partnerships after being recognized. The Fintech 250 has a history of spotlighting the very best fintech companies, and this year is no different. We're excited to see how these fintech startups disrupt and transform financial services in the years ahead."
“Fundbox is on a mission to unlock growth for small businesses. There are over 30 million small businesses in the U.S., and an additional six million are estimated to 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 come out of the recession. We’re thrilled to receive this recognition from CB Insights, and we look forward to continuing our support of the millions of small businesses across the country.”
Through 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 the companies, company business models and momentum in the market, and Mosaic scores, CB Insights’ proprietary algorithm that measures the overall health and growth potential of private companies.
Fundbox is an AI-powered financial platform that provides small businesses fast and easy access to financial tools and resources, and solves working capital needs through credit and payments solutions. Approximately 99% of their credit decisions are automated, as their leading technology enables the company to assess risk accurately and increase access to capital through superior predictions and credit decisions.
Fintech 250 2021: Investment Highlights
- Unicorns: 118 of the 250 companies (47%) are valued at or above $1B as of their latest funding round
- Funding trends: In 2021 year-to-date (YTD), these 250 private companies have raised $40.3B in equity funding across 275 deals (as of 9/14/21)
- Mega-rounds: Since 2020, there have been 178 mega-round ($100M+) equity investments to this year’s Fintech 250, with 138 of them in 2021 YTD
- Global representation: 36% of the 2021 Fintech 250 are based outside the US. After the US, the UK is home to the most Fintech 250 companies (25), followed by India (12). This year’s winners are based in 26 countries, including France, Brazil, Germany, Indonesia, and Nigeria.
- Top VC investor: Ribbit Capital is the most active investor in this year’s Fintech 250 companies, having invested in 62 deals since 2016. Since 2019, Ribbit has participated in 41 deals with this cohort of companies, including to Nubank, Uala, Brex, Vouch, Razorpay, and BharatPe. Tiger Global Management and Accel were close behind with 57 and 55 deals, respectively.
About CB Insights
CB Insights builds software that enables the world's best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.
About Fundbox
Fundbox is an AI-powered financial platform that provides small businesses fast and easy access to financial tools and resources. The company solves working capital needs through credit and payments solutions and has connected with over 325,000 businesses, unlocking more than $2.5B in working capital, and invested $100M into AI technology, gaining deep insights into the small business ecosystem. Fundbox has received numerous awards including the Forbes AI 50, CB Insights Fintech 250, and Fintech Breakthrough Awards. Learn more at fundbox.com.
