200 Revolutionists in Fintech
/Revolucion! The word invokes strong images of the few, the visionaries who took decisive action to change the world.
It’s in that spirit that we’re kicking off a new content series that’ll highlight 200 financial revolutionists over the coming weeks. We’ve timed the launch of this feature to coincide with the publication of the 200th edition of our weekly newsletter, and we want to express our genuine appreciation of all our subscribers, who made this milestone possible.
What to expect from our collection of revolutionists? Well, a little bit of everything. We’re talking about innovative individuals, companies to keep an eye on, fintechs transforming financial services, and even some “finfluencers” (Honest to goodness, we swear we were using this term around the office long before anyone else).
Have a person or company you’d like to recommend? We’re all ears.
Week 13: Innovators Working Toward Social Good
It’s been 12 weeks since we launched a new content series aimed at highlighting 200 financial revolutionists, timing the series to coincide with the 200th edition of our weekly newsletter.
We want to express our genuine appreciation for all our subscribers, who made that 200th edition milestone possible, and who have been following along with us each week as we’ve put a spotlight on fintechs, social media “finfluencers,” venture capital firms, conference speakers, and numerous other innovators.
As our pool of potential revolutionists grew — fueled in part by numerous nominations from readers — we constantly wondered if 200 was enough. As it turns out, it wasn't.
This week we’re charging beyond 200 and thinking of week 13 (hope none of y’all are superstitious) as our capstone — at least for now — by highlighting names in the fintech ecosystems that are driving social good.
We mean the fintechs helping move cash-only economies to digital payments, finding new ways to offer credit to those without a credit history, bringing banking services to the un-banked, and providing new services to mom-and-pop-sized businesses. We’re also talking about the VCs and initiatives that provide the capital and technical support that enable innovation to flourish.
4Told Fintech (Wallis, TX, USA): Delivers a disruptive platform and approach to including the unbanked and underserved markets in Latin America and the U.S. in the broader economy by providing more efficient access to capital and the ability to borrow at significantly reduced finance charges.
FEATURED REVOLUTIONIST
Accion
Cambridge, MA, USA
Founded in 1961, Accion works to empower people who are underserved, revolutionizing financial services for people who are left out. Its work involves advising services, making equity and quasi-equity investments, institutional partnerships, and influence through thought leadership. Its portfolio includes several names mentioned this week, including Pula and Toffee.
AffordPlan (New Delhi, India): Helps low- and middle-income people in India better manage their planned health care expenses.
AID:Tech (Dublin, Ireland): Manages the transfer of digital assets — such as international aid, welfare, remittances, and health entitlements — while generating a permanent and traceable transaction record through blockchain technologies.
Apollo Agriculture (Nairobi, Kenya): Uses machine learning, remote imaging via satellite, and mobile money to provide proven agricultural tools and financing to African farmers in a low-cost and highly-scalable way.
awamo (Frankfurt, Germany): Addresses the high operational costs of microfinance institutions through awamo® 360, its software-as-a-service core banking product several African countries.
AwanTunai (Indonesia): Provides supply chain financing services to micro-retailers in Indonesia through merchant working capital and point-of-sale consumer financing.
BASIX Sub-K (Telangana, India): Creates a high-technology, high-touch operating infrastructure at the last mile to deliver meaningful financial services (credit, payments, remittances, and savings) as a channel partner for financial institutions in India.
FEATURED REVOLUTIONIST
BFA Global
Cambridge, MA, USA
Together with its partners and clients, BFA empowers people to build inclusive and competitive economies. Its Catalyst Fund is an accelerator for inclusive fintech start-ups. The accelerator works with innovators in emerging markets who are building affordable, accessible, and appropriate solutions for underserved communities. Catalyst Fund is supported by The UK Department for International Development (DFID) and JPMorgan Chase & Co., managed by BFA Global, and fiscally sponsored by Rockefeller Philanthropy Advisors.
Blockbonds (Kristiansand, Norway): Brings banking to the unbanked, making a bank account accessible to any smartphone user with connectivity in a minute.
Bon (Pune, Maharashtra, India): Empowers self-employed and gig-economy workers in India, who are mostly first-time borrowers, with easier access to formal credit.
Celcoin (Dublin, Ireland): Transforms merchants' smartphones into multi-service payments terminals, opening up new sources of revenues for small retailers.
Clerkie (San Francisco, California, USA): An AI-powered financial assistant built to empower U.S. middle-class consumers with the expertise they need to improve their financial health.
Click2Sure (Cape Town, South Africa): A full-stack digital platform through which retailers, service providers, distributors, and brokers can offer specialized insurance products to customers – at the point-of-sale.
Clinic Pesa (Kampala, Uganda): Provides access to affordable health care financing to the uninsured in African markets.
FEATURED REVOLUTIONIST
Core10
Franklin, TN, USA
Core10 aims to bring hundreds of technology jobs to America’s heartland. It has assembled talent in Tennessee and West Virginia to provide a dedicated, cost-effective development resource for the financial technology sector. This matchmaking allows U.S. fintechs to keep their development talent within their home country, while generating economic development in middle America.
CreditEnable (London, UK): Provides decision optimizing solutions to help SME lenders grow efficiently and supports SMEs to prepare for and access affordable credit from formal financial institutions.
CreditVidya (Hyderabad,Telangana, India): An alternative data-based underwriting technology firm that assess 10,000 data points to better position traditional financial institutions in pricing thin-file or no-file borrowers.
Cushion (San Francisco, California, USA): Uses artificial intelligence to help consumers negotiate and dispute banking fees and credit card charges, with refunds issued as early as 24 hours.
FEATURED REVOLUTIONIST
Deserve
Menlo Park, CA, USA
Deserve’s technology and enhanced underwriting allows the industry to more effectively underwrite all populations, including those who are traditionally underserved. As CEO Kalpesh Kapadia says it, “Deserve is measuring potential, not just risk.” The company is backed by some of the leading financial institutions and venture capital firms in the world, including Goldman Sachs, SallieMae, Accel, Pelion Venture Partners, Aspect Ventures, and Mission Holdings.
Dinarak (Amman, Jordan): Provides unbanked people in Jordan with access to financial services.
Distilled Identity (Boston, MA, USA): A biometrics software company that uses artificial intelligence to construct identity profiles, which improve how institutional clients handle credit, fraud, and risk for their customers, especially as it relates to un- and under-served segments.
Dopay (London, UK): Provides employers a unified solution to digitize payroll in Egypt, regardless of whether their employees have access to a bank account.
Edquity (Brooklyn, New York, USA): Offers a cash flow management, emergency resource referral, and emergency aid platform for university students in the United States.
E-Settlement (Lagos, Nigeria): Aims to bridge the last mile connectivity gap in Nigeria. The network offers services including cash withdrawal, cash deposit, fund transfers, bill payments, and more.
Everest (San Diego, CA, USA): A decentralized platform that integrates a biometric identity system, EverID, and a payment solution, EverChain, with a multi-currency wallet, EverWallet. The mobile identity platform is available to governments, donors, NGOs, banks, microfinance institutions, and others as a mechanism to guarantee transparency, cost-effective storage, and transfer of value across their respective supply chains.
FEATURED REVOLUTIONIST
Flourish
Redwood City, CA, USA
Flourish is a venture firm that backs entrepreneurs whose innovations help people achieve financial health and prosperity. Established in 2019, the firm is funded by Pam and Pierre Omidyar (founder of eBay) and managed by a global team. Its investments themes include challenger banks, personal finance, insurtech, regtech, and other technologies that empower people and foster a fair, more inclusive economy.
Frollo (North Sydney, NSW, Australia): Provides users with personalized and actionable insights based on their financial profiles in order to improve their financial well-being. By analyzing transaction data across savings, credit card, loan and investment accounts, Frollo’s proprietary algorithm develops a Frollo Wellbeing Score, which guides users within five core areas that are key to driving positive changes in behavior: reduction of spending, management of debts, increase in savings, management of discretionary income, and generation of wealth.
GramCover (Noida, UttarPradesh, India): A digital-first insurance platform expanding access to crop, livestock, asset, health, motor, and life insurance products for rural populations.
Guiabolso (São Paulo, Brazil): Equips Brazilians with a set of digital tools to better understand and manage their finances.
Happy (Mumbai, Maharashtra, India): Disburses working capital loans digitally to mom-and-pop stores and small-scale online retailers.
Hello Paisa (Centurion, South Africa): A digital international money transfer operator aiming to drive down the cost of remittances and provide a safe platform that is accessible to those who need it most.
hiveonline (Copenhagen, Denmark): Layered platform that allows the women of village savings and loans associations in Niger to transact, save, access markets, and incrementally form a credit history.
Inclusivity Solutions (Cape Town, South Africa): Designs, builds, and operates digital insurance solutions on top of the rails of mobile network operators, banks, microfinance institutions, and other distribution partners in Cotê d'Ivoire, Kenya, and Rwanda.
Indifi (Gurgaon, Haryana, India): Provides small- and micro-enterprises in India with access to multiple lenders.
IntelleGrow (Mumbai, Maharashtra, India): Customized loans to small and growing businesses in India without access to responsive debt financing.
Jai Kisan (Navi-Mumbai, Maharashtra, India): Low-cost and timely financing for rural assets like agricultural and dairy equipment in India.
JULO (Jakarta, Indonesia): Tailors low-interest installment credit products to Indonesia’s unbanked, powered by its machine learning algorithms to determine users’ creditworthiness instantly.
Kwara (Berlin, Germany): A digital banking platform for lenders, such as credit unions or savings and credit cooperatives (SACCOs) in Kenya. By digitizing member accounts, Kwara can achieve up to a 90 percent reduction in operational costs, the savings of which are funneled back to members as dividends.
FEATURED REVOLUTIONIST
Lidya
Victoria Island, Lagos, Nigeria, Africa
Lidya provides financial services to small- and micro- enterprises in frontier and emerging markets that traditionally don’t have access to credit. It provides financing based on cash flow in a bank account and without collateral. The team is spread across three continents and five countries: USA, Portugal, Nigeria, Poland, and Czech Republic. Investors include Flourish Ventures, Accion, Bamboo Capital Partners, Goodwell, Alitheia, Newid Capital, Tekton Ventures, and Savannah Fund.
MaTontine (Dakar, Senegal): Automates and digitizes tontines in Senegal — a unique savings group model — and then harvests the behavioral data of individual members in order to risk, price, and offer services like microinsurance or microcredit."
Mosabi (Freetown, Sierra Leone): Drives behavior change in entrepreneurs in India, Kenya, Mexico, Senegal, and Sierra Leone through mobile e-learning, incentives and calls-to-action. Data harvested through this process is then funneled to financial institutions as a new basis for credit scoring.
Musoni System (Houten, Netherlands): Builds software solutions tailored for the digitalization of microfinance institutions.
MyCash Online (Purvis St, Singapore): An e-marketplace that allows migrant workers in Australia, Malaysia, and Singapore to top-up their mobile accounts, settle bills, purchase tickets, and send remittances digitally without a bank account or credit/debit card.
NeoGrowth (Mumbai, Maharashtra, India): A digital credit platform for underserved small- and micro- retailers in India to manage cash flows and fuel growth.
Numida (Kampala, Uganda): Provides digital unsecured working capital loans to semiformal small businesses.
OZÉ (Accra, Ghana): Equips small business owners to make data-driven decisions to improve their performance and access capital needed to scale.
PEG Africa (Accra, Ghana)": A leader in financing and deploying solar to consumers and SMEs in West Africa.
FEATURED REVOLUTIONIST
Pinkaloo
Baltimore, MD, USA
Pinkaloo is modernizing charitable giving. Through its Modern Giving accounts, the company enables employers, community foundations, and retail banks to empower their employees and customers to drive the impact via their charitable giving. Pinkaloo’s technologies are fully managed, allowing customers to white-label the app and promote their preferred charities to their employees and account holders. Account holders can centralize all of their giving by funding their account when and how they want, findinding projects and charities that match their passions, and quickly and easily donating from their account to any charity they choose. The platform makes budgeting easy, and come tax time, all receipts are in one place.
People’s Pension Trust (Accra, Ghana): Provides trustee services for the Ghanaian workforce, particularly those in the informal sector. Through a digital back-end platform and open APIs, individuals can use its retirement fund services through simple USSD registration in one of three ways: individually, through a partner channel, or via employer schemes.
Peppermint (WA, Australia): Offers a mobile remittance, bill payments, and e-load platform for non-bank agent networks wherein agents facilitate access to financial services for the unbanked in the Philippines.
Pezesha (Nairobi, Kenya): Addresses the limited coverage of credit bureaus in Kenya by offering ‘credit-decisioning-as-a-service’ for financial institutions through its marketplace platform.
Propel (New York, NY, USA): Builds software that helps low-income Americans better manage their social safety-net benefits.
Pula (Nairobi, Kenya): Bundles affordable area-yield index insurance with tailored advice for smallholder farmers in Ethiopia, Kenya, Malawi, Nigeria, Rwanda, Uganda, and Zambia.
Quona Capital (Washington, DC, USA): Venture capital firm specializing in financial technology for inclusion in emerging markets.
Resolve (Oakland, CA, USA): Combines a network of empathetic debt relief counselors with powerful technology in order to discern affordable, customized courses of action and unburden the financially distressed.
Riby (Lagos, Nigeria): Automates and digitizes the financial activities of cooperatives (the traditional savings mechanisms of rural and peri-urban Nigeria), associations, and trade groups with features like cooperative member management (and an accompanying mobile or web application designed for the end-user), loan requests, loan originations and savings, and contributions tracking.
RippleWorks (Redwood City, California, USA): Pairs world-class technology and business experts with social ventures for short-term, high-impact volunteer projects.
Scripbox (Bangalore, Karnataka, India): A digital retail broker for first-time investors in India, helping them beat inflation and achieve their long-term savings goals.
Self Lender (Austin, TX, USA): Flagship product is the Credit Builder Account, a small-dollar CD-secured installment loan that, through its repayments, improves the credit score standing of users.
ShopUp (Dhaka, Bangladesh): Automates online sales and credit assessment for small online businesses in Bangladesh.
Shubh Loans (Bangalore, Karnataka, India): A mobile-only lending platform that uses real-time analytics and alternative data to provide gig economy and blue collar workers in India access to affordable credit.
SmartCoin (Bangalore, Karnataka, India): Specializes in micro-loans for underserved low and middle-income segments in India through a mobile-first product built on artificial intelligence and machine learning innovation.
FEATURED REVOLUTIONIST
Steady
Atlanta, GA, USA
Steady advocates for the millions of people who are changing the way America works with part-time, anytime, and temporary work (the gig-economy). Its platform helps community members find jobs, increase their income, and plan for financially stable futures. Its backed by Propel Venture Partners, Flourish Ventures, Clocktower Ventures, and 25 Madison. Plus, NBA legend and businessman Shaquille O’Neal is an advisor and advocate.
Stonestep (Zurich, Switzerland): Simplifies the front-end and back-end insurance processes for mobile network operators, retailers, and others in Indonesia, Malaysia, Myanmar, Nepal, the Philippines, and Singapore.
TaniFund (Jakarta Selatan, Indonesia):" A peer-to-peer lending platform that connects smallholder farmers in Indonesia to retail and institutional investors.
Teknospire (Bangalore, Karnataka, India): Consolidates several banking processes and integrations into a single platform for small- and mid-size financial institutions. Its FinX suite — a 360-degree digital banking platform — enables financial institutions to more remote, underserved customers through digital branches or direct omni-channel interfaces.
Tez Financial Services (Pakistan): Pakistan’s first fully-digital financial institution. Aspiring to be a full-stack bank, it launched its first product Tez Advance, a nano-credit scheme that lends to the un- and under-banked.
Three Wheels United (Jakarta Selatan, Indonesia): Disrupting lending to low-income and less-literate clients. A holistic AI/data driven loan management system expands the scalability of micro-finance (MFI) across the Global South, helping to bridge the lending gap between MFIs and banks.
Thunes (Singapore): A a cross-border payments network that connects various payment systems, enabling mobile wallets, corporations, merchants, money transfer operators, and banks to move funds in and out of emerging countries in real-time.
Toffee Insurance (Gurugram, Haryana, India): Specializes in contextual micro-insurance products that decrease the financial risks carried by uninsured people in India.
Tulaa (Nairobi, Kenya): Provides smallholder farmers in Kenya with agricultural inputs on credit and brokers the sale of their crops at harvest time through a digital marketplace.
FEATURED REVOLUTIONIST
UNest
North Hollywood, CA, USA
UNest’s mission is to make parents’ dreams of sending their kids to college come true. The UNest mobile app allows parents to establish a tax-efficient monthly contribution plan, receive gifts from friends and family, and keep track of their savings progress. Investors include Anthos, Draper Dragon, The Artemis Fund, Northwestern Mutual, Group11, Unlock Venture Partners, Band of Angels, and Vested Ventures.
FEATURED REVOLUTIONIST
Vantage Ventures
Morgantown, WV, USA
The mission of Vantage Ventures is to build companies that accelerate economic opportunities in West Virginia, a U.S. state that usually ranks low in surveys of economic health. It is focused on overcoming the stall points that sit between a world changing idea and scale. It provides individuals — from academic and entrepreneurs to innovation arms of large companies — a systematic and repeatable process to transform their ideas into a scalable business.
Vistaar (Bangalore, Karnataka, India) - Provides affordable loans to small businesses in India that lack access to traditional banking.
Zest (Bangalore, Karnataka, India) - Provides Indian consumers with digital access to loans through a fast, convenient, and transparent experience.
Week 12: “Finfluencers” Cutting Through the Red Tape
Popeye and Olive Oyl. Peanut butter and jelly. Batman and Robin. Simon and Garfunkel. There are just some things that are hard to imagine without their counterparts.
Case in point: Financial services and regulation/compliance. As federal governments enact new regulations, the compliance industry has been asked for solutions that allow for speed, accuracy, security, and transparency. Enter regtech. Although usually focused in the financial sector, regtech has been expanding into a number of other highly-regulated businesses.
The folks that follow are ones we consider “finfluencers” in regtech, the people offering ongoing perspective about how tech is reshaping regulation/compliance.
Patrick Barnert
Founder at International RegTech Association
LinkedIn
Twitter
Zurich, Switzerland
Twitter Bio: Former CEO @QumramAG an award-winning #Fintech | #Regtech company; Founder of the #IRTA @weareregtech ; Entrepreneur & Business Angel & Board Member
Tanya Andreasyan
Editor-in-Chief at FinTech Futures
LinkedIn
Twitter
London, England
Twitter Bio: Editor-in-Chief at @FinTech_Futures – the definitive knowledge hub for #fintech, #paytech, #bankingtech, #regtech & #insurtech sectors worldwide
Matt Elton
CEO at Empower Business
Twitter
UK, Europe, Canada
Twitter Bio: International #RegTech leader-advisor | Where #RegulatoryCompliance meets #DigitalTransformation | Public speaker | @RegTechEvents @RegTechTV | CEO @EmpowerBus
Neira Jones
Advisor and Speaker
LinkedIn
Twitter
London, England
Twitter Bio: Advisor| Speaker| Payments| Innovation| Fintech| Regtech| Security | Cyber | I make it happen... http://neirajones.thinkific.com http://instagram.com/neiraj0nes
David Bundi
Head of RegTech at PwC Legal Switzerland
LinkedIn
Twitter
Switzerland
Twitter Bio: Head of #RegTech @PwCLegal #Switzerland | http://pwc.ch/regtech #RegTechServices #RegTechLeader | Head of #Zurich Chapter @DSRPTNdisciples Views are my own.
Andreas Iten
Board Member at F10 FinTech Incubator & Accelerator
LinkedIn
Twitter
Zurich, Switzerland
Twitter Bio: Board Member of F10 FinTech Incubator & Accelerator. Head SIX FinTech Ventures. All views are mine #FinTech #InsureTech #RegTech #startups #SIXHackathon
Dr. Sian Lewin
Co-Founder & Head of Client Delivery at RegTech Associates
LinkedIn
Twitter
London, England
Twitter Bio: Co-Founder, RegTech Associates | Financial Regulation Expert | Women in Fintech Powerlist 2018 | #Founder of RegTechWomen #RegTech
Lucy Heavens
Head of Marketing at Wealth Dynamix
LinkedIn
Twitter
London, England
Twitter Bio: Love all things #FinTech #RegTech #WealthTech (#Geek) @RegTech_Women Board member #WIF17 Women in FinTech Powerlist @Wealth_Dynamix Head of Marketing Views mine
Week 11: (Prop)Tech in Texas
Proptech — aka real estate-related technology — has become one of the buzziest tech-suffixes around.
And while real estate tech companies dot the globe, it seems Austin, Texas is vying for the crown. Here’s a sample of companies we’re watching closely to see who becomes the queens and kings of proptech:
Ender
Austin, TX
Platform to streamline the rental property management process
Investors include: LeFrak, Circle Ventures, Lafayette, Global Founders Capital, HOF Capital, Cherubic Ventures, Red Apple Group
Fetch
Austin, TX
Off-site package delivery solution for apartment communities
Investors include: Signal Peak Ventures, Silverton Partners, Capital Factory
Homeward
Austin, TX
Reorganized the home buying process so buyers take the time you need to find your ideal next home; use Homeward’s funds to make a competitive, all-cash offer to secure it; and sell your old home. Investors include: LiveOak Venture Partners, Genesis Capital, Keystone
Juniper Square
Austin, TX — San Francisco, CA
Designed specifically for real estate, Juniper Square is transforming the private funds industry with easy-to-use software that streamlines fundraising, investment operations, and investor reporting
Investors include: Redpoint Venture, Felicis Ventures, Zigg Capital
ListingSpark
Austin, TX
Empowers people to sell their homes faster and keep more money in their pockets
Investors include: Silverton Partners
OJO Labs
Austin, TX
Helps users discover, shop, or see new homes by tapping into a treasure trove of data that proactively matches a user’s wants and needs, while constantly learning and enhancing its ability to have meaningful conversations
Investors include: LiveOak Venture Partners, Northwestern Mutual, Realogy, ServiceMaster, Silverton Partners, RBC
Opcity
Austin, TX
Real estate referrals, prescreened and live transferred
Investors include: 8VC, Georgian Partners, Icon Ventures, LiveOak Venture Partners
Rabbet
Austin, TX
The only construction finance software that intelligently parses documents and connects information for frictionless transactions
Investors include: QED Investors, Camber Creek, Goldman Sachs
Rex
Austin, TX
Residential real estate brokerage platform
Investors include: Ken Griffin, Citadel founder; Scott McNealy, co-founder and former CEO of Sun Microsystems; Dick Schulze, founder of Best Buy; Gordon Segal, founder of Crate and Barrel; Amit Singhal, former SVP of search at Google; Diana Nelson, chair of Carlson; Jack Greenberg, former CEO of McDonald’s; Muneer Satter, chairman of Satter Investment Management
Swivel
Austin, TX
Office space leasing platform
Investors include: Next Breyer Capital, JLL Spark, Floodgate, First Round Capital, Next Coast Ventures, Hack VC, Great Oaks Venture Capital, Correlation Ventures, Abstract Ventures, Capital Factory, Fuel Capital
Week 10: PE Beasts of the East
There’s something about private equity that inspires vivid catchphrases like “Barbarians at the Gate” and “Beasts of the East.”
The latter is how we’d describe the following sampling of fintech PE players with a physical footprint that includes the East Coast of the U.S., but whose impact is global. Some are focused solely in PE, others manage private equity in addition to other alternative asset classes, yet all are transforming the landscape through their investments.
Alpha Square Group
New York, NY
The firm invests in mid- and late-stage companies. Their investments include some names that have probably passed through your ears a few times, like SoFi and Figure.
Aquiline Capital Partners
New York, NY
The firm’s current investments span several areas of fintech:
Payments: MoneyTap is India’s #1 AI-driven credit product for middle-income consumers
Insurtech: Hippo is a digital-first homeowners insurance provider.
Bain Capital Private Equity
Boston, MA - New York, NY
Nexi, the leading provider of payment services in Italy, is a current portfolio company. And Worldpay (acquired by FIS in 2019) was previously an investment.
Blackrock Private Equity
New York, NY
The world’s largest asset manager is also in on the PE game. In one form or another, the Blackrock name has been associated with fintech-y names like Scalable Capital, Anchorage, and Acorns.
Blackstone
New York, NY
The firm invests across alternative asset classes, including private equity. In one way or another, their hands have been helping shape the fintech ecosystem through the firm’s involvement with CyberGRX, Refinitiv, Ipreo and others.
Coatue Management
New York, NY - Menlo Park, CA - San Francisco, CA
They have been associated with plenty of fintechs over the years, including Persona (identity verification), Rapyd (digital wallet start-up), Root Insurance (car insurance insurtech), and Bond (software tools to connect banks and companies).
FTV Capital
New York, NY - San Francisco, CA
FTV is very active in the fintech space, perhaps most notably as major investor in U.K.-based foreign exchange payments firm World First, which was later sold to Ant Financial. Other investments include e-commerce and payments start-up EBANX and and rewards program tech firm Tango Card.
HarbourVest
Boston, MA
The firm’s current portfolio includes companies like Klarna. And past investments include names like Fundtech, which was part of acquisitions that led to today’s Finastra.
Insight Partners
New York, NY
Whether through venture capital or private equity, the firm has worked with a host of fintechs, such as: Finix (API for payments infrastructure), Tink (API for open banking), N26 (digitally native consumer bank), and Nymbus (digital bank in a box for financial institutions).
KKR Private Equity
New York, NY - Houston, TX - San Francisco, CA - Menlo Park, CA
The KKR name has been associated with a variety of players in the fintech ecosystem, such as Policygenius (online marketplace for comparing and purchasing insurance) and Cross River Bank (a bank for fintech firms).
Lightyear Capital
New York, NY
Since 2000, Lightyear has provided private equity capital to a broad spectrum of companies across the financial services industry. During the firm’s ownership of ARGUS Software, the company offered software and services to commercial real estate companies. The investment was realized when ARGUS merged with Altus Group.
Lovell Minnick Partners
New York, NY - Philadelphia, PA - Los Angeles, CA
The firm’s portfolio includes a smattering of fintech. From payments: Fortis Payment Systems provides developers and businesses with integrated processing capabilities. In proptech: Inside Real Estate is a leading tech provider to the residential real estate brokerage industry. Other investments in this area include loyalty solutions provider Engage People and compliance tech firm Foreside Financial Services.
TA Associates
Boston, MA - Menlo Park, CA
The firm’s fintech portfolio holdings include names like Orion Advisor Solutions (wealthtech) and Fincare (financial services platform serving rural and semi-urban customers in India). And it invested in BluePay before an acquisition by First Data Corporation.
Warburg Pincus
New York, NY - San Francisco, CA - Houston, TX
Among the firm’s current investments are Ant Financial (tech company bringing inclusive financial services to the world), Varo Money (mobile-only banking), and Mosaic (consumer lending platform).
White Mountains
Boston, MA - Hanover, NH - Guilford, CT
Past portfolio companies include Esurance, the leading direct-to-consumer auto insurance carrier, and Answer Financial, the largest online insurance broker in the U.S. The firm sold both to Allstate in 2011.
Week 9: Innovators in Payments
Back in the day (like seriously way back in the day), payments were relatively simple. Some form of currency (e.g., livestock, paper, coins) was exchanged for something else considered to have value by the parties in the transaction.
To oversimplify some of the changes since then: The world has globalized, necessitating payments across borders. Technology has created the ability for transactions to take place without an in-person exchange. The methods of payments have expanded (e.g., cash, credit cards, cryptocurrencies). And all of this comes with increasing expectations for speed and security.
So, while it’s a tad too early for Thanksgiving puns, we hope you’ll pardon us when we say say: Here’s a sampling of fintechs we think are leaders in the payments space and could be the next to get gobbled up via an acquisition.
AvidXchange
Charlotte, NC
Provides accounts payable and payment automation solutions for mid-market businesses
Notable investors: TPG Sixth Street Partners
Bill.com
Palo Alto, CA
Provider of cloud-based software that streamlines back-office financial processes for small- and mid-sized businesses
Notable investors: Franklin Templeton and Mastercard
Checkout.com
London
Payment solutions for global businesses, simplified through one unified platform
Notable investors: Insight Partners
Clip
Mexico City
Technology for businesses to accept payments by credit card, debit, vouchers, and points without the need for contracts or minimum fees
Notable investors: SoftBank and General Atlantic
CurrencyCloud
London
Cloud-based platform to remove complexity from international transactions
Notable investors: Visa, IFC, and BNP Paribas
Fidel
London
API that allows developers to securely access data from the three major card networks and build their applications on top of the powerful payments infrastructure
Notable investors: Nyca Partners, QED Investors, Elefund, Horizons Ventures, RBC, and 500 Startups
Finix
San Francisco, CA
Technology that allows businesses to own, manage, and monetize their payments
Notable Investors: Sequoia Capital, Acrew Capital, Bain Capital Ventures, Activant Capital, Insight Venture Partners, Aspect Ventures, Visa, Homebrew, Precursor Ventures, Act One Ventures, and Inspired Capital
Flutterwave
San Francisco, CA
Platform that lets businesses sell wherever your customers are — online, in‑person, anywhere in the world
Noteworthy investors: Greycroft, FIS, and Visa
Fundbox
San Francisco, CA
Technology to unlock growth for businesses by accelerating payments and credit
Noteworthy investors: Allianz X, HarbourVest, Hamilton Lane, SEB Private Equity, Cathay Innovation, Synchrony Financial, MUFG Innovation Partners, Recruit Strategic Partners, GMO Internet Group, Arbor Ventures, Khosla Ventures, General Catalyst, and Spark Capital Growth
GoCardless
London
Makes it easier to collect recurring payments from customers around the world into a single bank account
Noteworthy investors: Adams Street Partners, GV, Salesforce Ventures, Accel, Balderton Capital, Notion Capital, and Passion Capital
Gusto
San Francisco, CA
Payroll solutions for small- and mid-size businesses
Notable investors: Generation Investment Management, Dragoneer Investment Group, and General Catalyst
Marqeta
Oakland, CA
Open API platform that enables the world's innovators to instantly issue and process cards with more control, flexibility, and scale
Notable investors: Visa, ICONIQ, 83North, and Granite Ventures
Opay
Lagos, Nigeria
Africa-focused mobile payments company
Notable investors: IDG Capital, Source Code Capital, Opera, Redpoint Ventures, and GSR Ventures
Remitly
Seattle, WA
Simplifies international money transfers
Notable investors: Generation Investment Wealth, Owl Rock Capital, Princeville Global, Prudential Financial, Schroder & Co Bank, Top Tier Capital Partners, DN Capital, PayU, and Stripes Group
Spreedly
Durham, NC
Provides digital payments optimization software
Notable investors: Spectrum Equity
Zeta
Bengaluru, India
Provides a full-stack, cloud-native, API-first neo-banking platform
Notable investors: Sodexo Benefits and Rewards Services (BRS)
Week 8: Leaders of Disruptive Southern U.S. VCs
Innovation and ambition is alive across the U.S., from sea to shining sea -- not just in the bubbles of New York and Silicon Valley.
This week we wanted to recognize leaders at disruptive VCs in Southern states of the U.S., which incited a heated discussion about how to define “the South.” A strong argument was made for using the esteemed IHOP-Waffle House line of demarcation, but things got tricky when we realized a smattering of the 24-hour diners have popped up across Pennsylvania and Delaware (seems like people in the Mid-Atlantic also crave smothered hash browns). Begrudgingly, we decided the unbending border created by the Mason-Dixon line would suffice.
(Editor’s note: We didn’t include Texas in this list because it’s practically its own entity. And we wouldn’t want to mess with Texas!)
Alex Acree, Managing Partner
The Takoma Group
Washington, DC
Pascal Bouvier, Managing Partner
Michael Meyer, Managing Partner
Middlegame Ventures
Washington, DC
Notable investments: Railsbank
Laura Bock, Principal
Nigel Morris, Co-Founder and Managing Partner
Frank Rotman, Founding Partner
QED Investors
Alexandria, VA
Notable investments: Albert, Avant, ClearScore, YayPay
Benjamin Britt, General Partner
Route 66 Ventures
Alexandria, VA
Notable investments: DriveWealth, Tandem
Bryce Butler, Managing Partner
Access Ventures
Louisville, KY
Notable investments: Fig Loans, Vault
Raj Date, Managing Director and Chair of the Investment Committee
Fenway Summer Ventures
Washington, DC
Notable investments: Future Finance, Lendable
Monica Brand Engel, Partner
Quona Capital
Washington, DC
Notable investments: Klar, Neon
Gardiner Garrard, Co-Founder and Managing Partner
W. Thomas Smith, Jr., Co-Founder and Managing Partner
TTV Capital
Atalanta, GA
Notable investments: DefenseStorm, Verady
David Golden, Managing Partner
Revolution Ventures
Washington, DC
Notable investments: PolicyGenius
Jim Lim, Managing General Partner
Ashton Newhall, Managing General Partner
Greenspring Associates
Owings Mills, MD
Notable investments: MoneyLion
Joe Maxwell, Managing Partner
FINTOP Capital
Nashville, TN
Notable investments: Bridge, Core10
Andy Sandler, Chairman and CEO
Temerity Capital Partners
Washington, DC
Notable investments: Covered, Grasshopper
Week 7: Banktech Players to Watch
As we begin a new decade, it’s really quite remarkable to think about how far the digital revolution in banking has come over the last 10 years. In 2010, most banks didn’t even have a mobile app. Now we live in a world where banks and other traditional players spend vast amounts of money on digital, while at the same time fintechs and other savvy start-ups are still on the scene — coming up with alternatives to traditional bank services, technology to facilitate integrations, and platforms to help banks operate more efficiently.
Banktech can mean big buzz and even bigger bucks (just over the past year, look at Visa’s Plaid play, FIS’ acquisition of Worldpay, and Fiserv’s acquisition of First Data, among others).
But the problem with focusing narrowly on heavyweight names is that you risk overlooking some of the more-under-the-radar fintechs.
We think these are small(er) but mighty banktech players to keep on the radar:
ADDI
Where: Colombia
What: Credit and banking solutions
Who’s Onboard: Andreessen Horowitz, Monashees, Village Global, and Sinai VC ($12.6 Series A in 2019)
Bond
Where: San Francisco
What: Enterprise-grade platform that streamlines the integration between brands and banks
Who’s Onboard: Canaan Partners, Coatue, Sarah Friar, Eric Yuan, and Ryan Peterson ($10 million in seed funding in August 2019)
Baton Systems
Where: Fremont, CA
What: Blockchain-inspired, bank-to-bank payments infrastructure
Who’s Onboard: Trinity Ventures, Alsop Louie, and Commerce Ventures ($12 million Series A in 2019)
Bud
Where: London
What: Helps banks connect their apps and data to other fintech providers
Who’s Onboard: HSBC, Goldman Sachs, ANZ, Banco Sabadell and 9Yards Capital ($20 million Series A announced in early 2019)
DefenseStorm
Where: Alpharetta, GA
What: Cybersecurity management platform for regional banks, community banks, and credit unions
Who’s Onboard: Georgian Partners ($15 million Series A in July 2019)
Growth Street
Where: London
What: Provides an alternative to bank overdrafts for small- and medium-sized businesses
Who’s Onboard: Merian Chrysalis Investment Company ($12.5 million raise in 2019)
Neocova
Where: St. Louis, MO
What: Banking technology platform built specifically for community financial institutions
Who’s Onboard: Bank of St. Elizabeth, Coastal Community Bank, First Financial, Kearny Bank, Provident Bancorp, Inc., and Sunwest Bank ($9.5 million Series A in January 2020)
Numerated
Where: Boston, MA
What: Bank technology powering the digital transformation of relationship banking
Who’s Onboard: Patriot Financial Partners, Venrock, FINTOP Capital, and Hyperplane ($15 million Series B in September 2019)
Railsbank
Where: London
What: Open banking and compliance platform
Who’s Onboard: Moneta Capital, CreditEase, Clocktower Technology Ventures, Singapore Life, and Firestartr ($10 million Series A in September 2019)
Penta
Where: Berlin
What: Business banking
Who’s Onboard: HV Holtzbrinck Ventures, Finleap, and Fabrick (€8 million raised in 2019)
Week 6: The Wealthtech Finfluencers
When we talk about the many different subsectors of fintech, wealthtech may not be the first that comes to mind. But it’s one of the areas that is constantly evolving, innovating, and changing the way both advisors and their clients approach money management.
And wealthtech is so much more than just robo-advisors. As bleeding-edge AI and data analytics tools provide greater levels of insight, UI and UX interfaces continue to evolve, and improvements to back-office technology help RIAs work smarter, innovation is constantly happening in the space.
That said, we’d like to recognize some of the top “finfluencers” in wealthtech.
April Rudin -- Twitter, LinkedIn
Founder and CEO of The Rudin Group
LinkedIn location: Greater New York City Area
Twitter bio: Global #wealth #finserv #marketing firm| #Messaging #Content #Digital +more| #1 wealth management influencer | Likes: #NextGen #FinTech #WealthTech #Detroit
Bill Sullivan -- Twitter, LinkedIn
President of Family Office Exchange
LinkedIn location: Richmond, Virginia Area
Twitter bio: President Family Office Exchange (@FOXExchange) #FamilyOffice #Wealth #Fintech #Banking #OpenBanking #OpenX #RisingGen insights. @Capgemini alum Avid golfer
Chris Gledhill -- Twitter, LinkedIn
Independent FinTech Advisor, Futurist, Writer & Speaker
LinkedIn location: London, United Kingdom
Twitter bio: #FinTech Influencer, Keynote & TEDx Speaker, Writer and Advisor. #FinServ #InsurTech #WealthTech #PayTech collaboration@chrisgledhill.com
Christian Ross -- Twitter, LinkedIn
Manager Business Development at Blanco Fintech
LinkedIn location: Amsterdam Area, Netherlands
Twitter bio: Business Development at @Blanco_fintech #wealthmanagement #wealthtech #regtech #fintech
Devie Mohan -- Twitter, LinkedIn
Co-Founder and CEO of Burnmark
LinkedIn location: London, United Kingdom
Twitter bio: I don't know everything, but I can try. Global top 10 fintech influencer, writer, speaker. Founder @burnmark_ Member @thinkforward
Helene Li -- Twitter, LinkedIn
General Manager of the FinTech Association of Hong Kong
LinkedIn location: Hong Kong
Twitter bio: Purpose is the new profit 🎯🔝2🏆#Influencer on #Sustainability #fintech Co-Founder GoImpact @jpmorgan @bnpparibas alum & best role of all: Mom (views my own)
JP Nicols -- Twitter, LinkedIn
Co-Founder of Fintech Forge
LinkedIn location: Seattle, Washington
Twitter bio: #FinTech #FinServ advisor/writer/speaker: @FinTechForge | @BreakingBanks1 | @ProvokeCast | Innovation+Strategy+Leadership (+ a little soccer #EBFG)
Koen Vanderhoydonk -- Twitter, LinkedIn
CEO Belgium Luxembourg Germany at Blanco Services
LinkedIn location: Brussels, Brussels Capital Region, Belgium
Twitter bio: CEO BeLux @Blanco_fintech passionate about the future of banking, public speaker #Fintech #RegTech #WealthTech #entrepreneur Let's connect!
Minh Q Tran -- Twitter, LinkedIn
Managing Partner at Odysseus Partners
LinkedIn location: Paris 13, Île-de-France, France
Twitter bio: #AssetBuilder & #VC-as-a-Service on #Alternative #Assets in #Insurtech #Wealthtech #Proptech #Impact #Fintech. Top online influencer in insurtech
Rodrigo Garcia de la Cruz -- Twitter, LinkedIn
CEO and Founder of Finnovating
LinkedIn location: Madrid Area, Spain
Twitter bio: CEO @FinnovatingHub | President @asocfintechins | VP @FintechIberoAme | CoFounder @Accurate_Quant | #FinTech #InsurTech #PropTech #RegTech #WealthTech
Susanne Chishti -- Twitter, LinkedIn
Chief Executive Officer at FINTECH Circle
LinkedIn location: London, United Kingdom
Twitter bio: CEO @FINTECHcircle @FTC_Institute Bestselling Editor: @WealthTECHBook @InsurTECH_Book @TheFINTECHBook #AI #Fintech Champion of the Year 2019 #womeninfinance
Urs Bolt -- Twitter, LinkedIn
Partner at Blockchain Innovation Group AG
LinkedIn location: Zürich Area, Switzerland
Twitter bio: Expert Advisor, PMP® | #WealthManagement #WealthTech #DigitalAssets #Ecosystems | @BIG_Blockchain | Mentor @F10_Accelerator | @Phonak Ambassador
Week 5: The Ones Who Keep Us in The Know
When it comes to fintech innovators, we often think of buzzworthy start-ups creating the new digital tools that will change the world — or perhaps those traditional institutions shaking things up and investing heavily in developing new tech. Perhaps we also think of the VCs that enable growth.
But we shouldn't forget about the many fine members of the media who cover the fintech industry. They've got their fingers on the pulse of what's going on, often before the rest of us know about it. Without their news stories, newsletters, blogs and videos, the rest of us would be far less informed.
So this week we'd like to toast these people on the fintech beat, whose work keeps the rest of us in the know.
John Adams, PaymentsSource – Twitter
David Heun, PaymentsSource – Twitter, LinkedIn
PaymentsSource has long been a top, well, source on the payments industry. And John and David are two industry vets with decades of experience covering this fast-moving sector.
Suzanne Barlyn, Reuters – Twitter, LinkedIn
One of the few trained lawyers we’ve seen in the fintech journalist/reporter ecosystem, Suzanne focuses on U.S. financial enforcement and insurance — and it’s the latter coverage of insurance/insurtech that sticks out in our mind.
Penny Crosman, American Banker – Twitter, LinkedIn
Quite simply, Penny has forgotten more about fintech than you’ll ever know. The longtime American Banker reporter is in the top tier of fintech experts.
Rob Daly, Freelance – Twitter, LinkedIn
Rob is a veteran (and unsung) capital markets and financial services reporter. He’s also 100% who we’d want as our partner in a game of euchre.
Lindsay Davis, CB Insights – Twitter, LinkedIn
As a senior intelligence analyst, maybe Lindsay’s not quite as “reporter-y” as some of the others we’re highlighting this week. But her data-driven insights have been indispensable throughout the fintech ecosystem, with her research cited in numerous industry publications.
Dan DeFrancesco, Business Insider – Twitter, LinkedIn
Bradley Saacks, Business Insider – Twitter, LinkedIn
We like to think of Dan and Bradley as the dynamic duo over at Business Insider. Dan is a senior finance reporter covering financial technology, market structure, and cryptocurrency, while Bradley focuses on hedge funds. But we love when the pair team up, especially to cover alt data.
Telis Demos, The Wall Street Journal – Twitter
Formerly at Fortune and Financial Times, Telis’ area of coverage is the U.S. capital markets and the securities industry. He writes extensively on banking.
John Detrixhe, Quartz – Twitter, LinkedIn
John has been writing about finance for more than 10 years, previously at Bloomberg News. Today he puts out Quartz’s Future of Finance newsletter, which covers the people, deals, and ideas that will reshape money for decades to come.
Anna Irrera, Reuters – Twitter
Irrera has been a driving force behind Reuters’ all-around-excellent fintech coverage.
Jim Marous, The Financial Brand – Twitter, LinkedIn
If you’re in fintech, of course you know Jim. Besides being a “finfluencer” par excellence, Jim consistently brings us informative news and views as co-publisher of The Financial Brand and publisher of the Digital Banking Report, as well as many other avenues.
Natasha Mascarenhas, CrunchbaseNews – Twitter, LinkedIn
Natasha is an upcoming reporter who’s wasting no time carving out her place in fintech. Covering venture capital and tech, she’s also reported on women in fintech and women entrepreneurs.
Sarah Perez, TechCrunch – Twitter
We’re guessing Sarah’s background in I.T. (along with some A+ writing chops) is what makes her so proficient at distilling complex tech into words that even a non-techie can comprehend. She covers tech broadly, intersecting with fintech especially around payments.
Julie VerHage, Bloomberg – LinkedIn
If you’re a regular around these parts, you’ve read her work, seen her on TV, and heard her speak at conferences. No matter what the format, Julie is a go-to voice on the tech start-up scene.
Mary Wisniewski, Bankrate – Twitter, LinkedIn
Mary has been on the fintech beat for about a decade now, and has a solid finger on the pulse of what’s going on, what’s relevant, and what’s newsworthy. She is also a frequent speaker and moderator at industry conferences.
Week 4: The Speaker’s Circuit
As we continue our series highlighting 200 financial revolutionists who are driving innovation and change in the fintech space, we wanted to recognize some well-respected conference speakers.
Attending industry conferences is part and parcel of the fintech experience, and these are folks you’ve probably heard on many a stage (or dais) dispensing perspective.
We leveraged data from Event Analyzer to identify several of the most prolific speakers, panelists, and moderators from 2019. We further narrowed to the individuals we felt shared ideas and conversations that enlightened and inspired audiences.
Jeremy Balkin
Head Of Innovation, HSBC
Discussed innovation in open banking and payments, among other topics.
Jo Ann Barefoot
Founder and CEO, Barefoot Innovation Group
Gave bankers and fintechs alike invaluable insight into topics such as regtech and compliance.
Jane Barratt
Chief Advocacy Officer, MX
Jane is a well-known voice in the financial technology world, helping to discern between the hype and the reality when it comes to new technology.
Sandeep Bhandari
Chief Strategy Officer and Chief Risk Officer, Affirm
Financing and financial health were among the many topics Sandeep touched upon at conferences in 2019.
Chris Britt
Co-founder and CEO, Chime
As the head of one of the most influential fintechs, Chris was a frequent conference speaker on digital banking, challenger banks, and innovation.
Gabriele (Gab) Columbro
Executive Director, FINOS
Known for being an open source leader and technologist at heart, Gabriele focuses on topics related to open source in fintech.
David Karandish
Founder and CEO, Capacity
David is a well-known voice in the financial technology space, frequently discussing how community banks and credit unions can leverage innovative technology like AI to transform user experiences, as well as the future of work.
Sam Maule
Managing Partner, North America, 11:FS
One of the most knowledgeable speakers on open banking, payments, small business lending, and everything in between.
Ryan Rugg
Global Head of Industry Verticals / Global Head of Insurance, R3
One of the leading voices on topics such as blockchain and regulatory compliance.
Week 3: Who’s Who in Insurtech
Contrary to what we’ve been seeing in holiday commercials the last few weeks, our expectations for a surprise gift of a new car adorned with a gigantic bow are remarkably, remarkably low right now. Yet, if any of our readers decide to prove us wrong (by the way, we prefer green), our second-most-immediate response would be to ensure that shiny new vehicle was covered insurance-wise. (Our first reaction would look a lot like this.)
Insurance: It’s always been necessary, but not usually super-exciting — until fintechs stepped in with dreams of transforming the industry.
Here are some of the companies that have had big raises and generated considerable buzz this year:
Root Insurance
Raised: $350 million (Series E) at $3.5 billion valuation
Columbus, OH-based tech-enabled auto insurance platform
Noteworthy investors: Coatue Management and DST Global
Next Insurance
Raised: $250 million (Series C) at $1 billion valuation
Palo Alto, Calif.-based, sells insurance products to small businesses
Noteworthy investors: Munich Re
Wefox
Raised: $110 million (Series B) at $1.65 billion pre-money valuation
Berlin-based insurtech platform
Noteworthy investors: Omers Ventures, Merian Chrysalis, and Samsung Catalyst Fund
Hippo
Raised: $100 million at $1 billion valuation
Focused on the home insurance market
Noteworthy investors: Bond Capital
Unqork
Raised: $22 million (Series A) and $80 million (Series B)
New York-based provider of no-code platform for financial services insurance firms
Noteworthy investors: Goldman Sachs, Broadridge Financial Solutions, and CapitalG
Ethos
Raised: $60 million (Series C)
San Francisco-based life insurance company
Noteworthy investors: GV, Goldman Sachs, Sequoia Capital, and Accel
Health IQ
Raised: $55 million (Series D)
Uses quiz-based gamification approach to providing life insurance
Noteworthy investors: Greenspring Associates, Aquiline Technology Growth, Hanwha Asset Management, and Andreessen Horowitz
BriteCore
Raised: $47.5 million
Provider of insurance policy administration and processing software based in Springfield, MO
Noteworthy investors: Warburg Pincus, Radian Capital, and WCF Mutual Insurance
Kin Insurance
Raised: $47 million
Based in Chicago
Noteworthy investors: Avanta, HSCM Bermuda, and UChicago Startup Investment Program
Vouch Insurance
Raised: $45 million (Series B)
San Francisco-based platform offering start-up business insurance
Noteworthy investors: Y Combinator Continuity
Zego
Raised: $42 million (Series B)
London-based, specializing in insurance products for gig-economy workers
Noteworthy investors: Target Global and TransferWise founder Taaver Hinrikus
Bold Penguin
Raised: $32 million (Series B)
Commercial insurance technology provider out of Columbus, OH
Noteworthy investors: Hudson Structured Capital Management Ltd., Lightstone, Guggenheim Insurance, Lockton, and individuals from Stone Point Capital
Snapsheet
Raised:$29 million (Series E)
Chicago-based virtual claims solutions company looking to increase efficiencies and reduce paper in claims
Noteworthy investors: Tola Capital, Nationwide, Sedgwick, State Auto Labs, Liberty Mutual Strategic Ventures, F-Prime Capital, OCA Ventures, and an affiliate of USAA
Thimble (aka Verifly)
Raised: $22 million (Series A)
Provider of short-term insurance to small businesses and freelancers
Noteworthy investors: IAC, Slow Ventures, AXA Venture Partners, and Open Ocean
Route
Raised: $12 million
Lehi, UT-based shipping insurance platform
Noteworthy investors: Album VC and Peak Venture Capital
Sproutt Insurance
Raised: $12 million (Series A)
Hartford, CT.-based platform aiming to make life insurance purchasing more efficient
Noteworthy investors: State of Mind Ventures, Moneta Capital, and Guardian Life
Young Alfred
Raised: $10 million
New York City and Philadelphia-based home insurance shopping platform
Noteworthy investors: Gradient Ventures, Pear Ventures, ERA, and Newfund Capital
Daisy Intelligence
Raised: $10 million (Series A)
Retail and insurance analytics start-up based in Toronto
Noteworthy investors: Framework Venture Partners and Sonae IM
Raised: $7.65 million
Fast Facts: Boston-based tech-enabled home insurance provider
Investors: Gradient Ventures, Greenlight Re, PJC, Techstars Ventures, and The Hanover Insurance Group
Gradient AI
Raised: $6 million (Series A)
Cambridge, MA.-based software start-up for commercial insurers
Noteworthy investors: Forte Ventures, Sandbox Insurtech Ventures, and MassMutual Ventures
Broker Buddha
Raised: $4.5 million
New York-based technology company focused on the commercial insurance application and renewal process
Noteworthy investors: Vertex Ventures
Betterview
Raised: $4.5 million (Series A)
San Francisco-based property insights and workflow platform for insurers
Noteworthy investors: ManchesterStory, Nationwide Ventures, EMC Insurance, Maiden Re, and Compound
CyberFortress
Raised: $3 million
San Antonio, TX-based insurtech protecting e-commerce companies from cyber threats
Noteworthy investors: Greycroft and LiveOak Venture Partners
Week 2: The ‘Finfluencers’ of Banking Innovation
From offering perspective on the news of the day to identifying what trends are hidden between the headlines, these are the “finfluencers” — individuals members of The Financial Revolutionist community say they turn to for ongoing perspective about financial innovation within banking.
In our mind, being a “finfluencer” is about more than number of followers (although, yes, some of these individuals are household names in banking and have significant followings). It’s about who you can count on for information that keeps abreast of what’s happening within this rapidly changing industry.
Alex Jiménez -- Twitter -- LinkedIn
Chief Strategy Officer at Extractable
LinkedIn location: Greater Salt Lake City Area
Twitter bio: Chief Strategy Officer @Extractable #Fintech #Payments #InsurTech #DigitalMarketing #Innovation | @HofstraU #BSME @AdelphiU #MBA| #FintechMafia | Views my own!
Brett King -- Twitter -- LinkedIn
Founder, Executive Chairman at Moven
LinkedIn location: New York, New York
Twitter bio: Author http://Bank4dot0.com, Founder http://Moven.com, Speaker | Futurist | World's #1 Fintech Radio Show http://BreakingBanks.com | Immigrant
Chris Skinner -- Twitter -- LinkedIn
Non-Executive Director at 11:FS
LinkedIn location: Poland
Twitter bio: Shaping the future of financial services
David Jiménez Maireles -- Twitter -- LinkedIn
Deputy Chief Digital Officer at Ngân hàng TMCP Hàng Hải
LinkedIn location: Vietnam
Twitter bio: Building a digital bank in Asia | All things #CX #FinTech #Banking #finserv #OpenBaking #Disruption | Ex @Raisin_EN @ING_es @bancosantander
Jason Henrichs -- Twitter -- LinkedIn
Managing Director at FinTech Forge
LinkedIn location: Chicago, Illinois
Twitter bio: FinTech entrepreneur, community builder, gender equality advocate, learner & listener, angel investor. Why walk when you can run?
Jill Castilla -- Twitter -- LinkedIn
President, CEO and Vice Chairman at Citizens Bank of Edmond
LinkedIn location: Edmond, Oklahoma
Twitter bio: Pres & CEO @CitizensEdmond @midtownbank @vault_405; Creator @HeardonHurd; #fintech leader; @usarmy vet/wife/mom; @casa_army Oklahoma Views=Mine
Lars Markull -- Twitter -- LinkedIn
Professional Freelancer
LinkedIn location: Berlin Area, Germany
Twitter bio: FinTech-ing around | #OpenBanking | Searching for the next thing | Writing @finletter | Prev @figoAPI & @bankathon15 | me@larsmarkull.com
Matthias Kroener -- Twitter -- LinkedIn
Founder and Partner & Fintech Entrepreneur at Professional Development GmbH
LinkedIn location: Munich, Bavaria, Germany
Twitter bio: Banking Entrepreneur
Ron Shevlin -- Twitter -- LinkedIn
Director of Research at Cornerstone Advisors
LinkedIn location: Greater Boston Area
Twitter bio: Managing Director, Fintech Research at Cornerstone Advisors. Author of Smarter Bank and Fintech Snark Tank on Forbes #fintech #finserv #banking
Stessa Cohen -- Twitter -- LinkedIn
Previously: Research Director, Banking & Investment Services at Gartner, Inc.
LinkedIn location: Greater Philadelphia Area
Twitter bio: reader, writer, parent, cat wrangler. sometimes I swim. micro-thoughts & opinions are mine; RTs are not.
Week 1: Funding Fintech from “Flyover States”
It’s well known that U.S. financial services and tech are concentrated on the coasts, specifically around San Francisco and New York. That often leaves “flyover country” underrepresented in the discussion. (Internet wormhole alert: Check out this analysis of 5.6 million domestic flights, which maps out the states that literally are passed over more than they’re visited.)
This week we’re honing in on an area of flyover country (we don’t mean that pejoratively) that’s often described with words like hardworking, integrity, loyalty, trust, humility, and friendliness. We’re talking the Midwest. In a region home to a variety of fintech start-ups, Midwesterners are proving they can also be innovative, disruptive, and ambitious.
On the funding side, here are some venture capital firms we think are ones to watch.
| VC | Location | Founded | Portfolio Highlights |
| Chicago Ventures | Chicago, IL | 2013 | Meritize Founded: 2016 Last Funding: Series A Merit-based education funding that uses an individual’s academic, military, and work achievements in credit evaluation |
| Detroit Venture Partners | Detroit, MI | 2010 | Dwolla Founded: 2008 Last Funding: Unknown Programmable payments platform |
| Drive Capital | Columbus, OH | 2013 | Root Insurance Founded: 2015 Last Funding: Series E Applies data and technology to base auto insurance rates on how people drive; has expanded into rental insurance |
| Hyde Park | Chicago, IL | 2011 | Precognitive Founded: 2016 Last Funding: Seed Combines device intelligence and behavioral analytics with a real-time decision engine to detect and prevent fraud |
| Lightbank | Chicago, IL | 2010 | Clearcover Founded: 2016 Last Funding: Series B Digital platform for car insurance |
| ManchesterStory | West Des Moines, IA | Unknown | Matic Founded: 2014 Last Funding: Series A Digital insurance agency with solutions for consumers, originators, and servicers. FinMkt Founded: 2011 Last Funding: Series B Provides a customizable platform for the global financial services industry, including customer acquisition, product matching, and tracking and reporting |
| Moderne Ventures | Chicago, IL | 2015 | Hippo Founded: 2015 Last Funding: Series D Offers a new approach to homeowners insurance Homebot Founded: 2015 Last Funding: Seed Platform that enables real estate professionals and mortgage brokers to serve as wealth advisors |
| OCA Ventures | Chicago, IL | 1999 | dv01 Founded: 2014 Last Funding: Series B Data management, reporting, and analytics platform offering loan-level transparency and insight into lending markets Snapsheet Founded: 2010 Last Funding: Series E Claims management across personal and commercial lines of insurance |
| Pritzker | Chicago, IL | 1996 | Spring Labs Founded: 2017 Last Funding: Series A Decentralized infrastructure for credit and identity data Coinbase Founded: 2012 Last Funding: Secondary market Platform to buy and sell crypto |
| RPM Ventures | Ann Arbor, MI | 2000 | Blueleaf Founded: 1999 Last Funding: Seed Financial relationship management platform for wealth management firms Figure Founded: 2018 Last Funding: Series C Leverages blockchain, AI, and advanced analytics to unlock new access points for consumer credit products |
| Sandalphon | Chicago, IL | 2016 | RealKey Founded: 2015 Last Funding: Seed Platform that centralizes the mortgage process |
| SixThirty | St. Louis, MO | 2013 | Bloq Founded: 2015 Last Funding: Seed Blockchain solutions for global enterprises Bridge Founded: 2015 Last Funding: Series A Automation-driven portfolio management software for advisors and firms to simplify and streamline back-office functions |
| The Syndicate Fund | Saint Paul, MN | 2017 | Traive Founded: 2018 Last Funding: Seed Ag-fintech that unlocks credit to farmers |
