Honor highlights advancements in global payments technology
New York, NY, June 27, 2017 – CB Insights today named Currencycloud to the prestigious Fintech 250, a select group of emerging private companies working on groundbreaking financial technology. CB Insights CEO and co-founder, Anand Sanwal, revealed the Fintech 250 companies during The Future of Fintech, a gathering of the world’s largest financial institutions, best Fintech startups, and most active venture investors.
“It’s an honor to be recognized alongside so many companies driving the Fintech industry forward”, said Todd Latham, Currencycloud’s CMO and Head of Product. “While the industry has a way to go, the game-changing technologies and customer success stories we continue to see are having an increased impact on the whole financial services industry, to the benefit of end customers. Today, we’re proud to power over 200 disruptive companies, demonstrating just how powerful collaboration is”.
Currencycloud joined companies such as Stripe, Klarna, Seedrs and Revolut in being recognized for their innovative technology in front of an audience of 1000 senior executives from around the world and news outlets including The New York Times, The Wall Street Journal, The Financial Times, Reuters and Bloomberg.
“The financial services industry will see more change in the next 10 years than it has in the last 100. And that transformation is being driven by a group of smart insurgent startup companies. The Fintech 250 are the most promising of these insurgents. They are bringing emerging technologies and business models to financial services that will permanently change the way we handle money and do business,” said CB Insights CEO Anand Sanwal.
The CB Insights research team selected the Fintech 250 companies based on several factors including data submitted by the companies and the company’s Mosaic Score. The Mosaic Score, based on CB Insights’ National Science Foundation-funded algorithm, measures the overall health and growth potential of private companies. Through this evidence-based, statistically-driven approach, the Mosaic Score can help predict a company’s momentum, market health and financial viability.
Quick facts on the Fintech 250:
- These 250 emerging private companies have raised $14B across 240 deals in 2016.
- Applications of their technology include breakthroughs in insurance, lending, payments, human resources, real estate, and much more.
- More than 2,000 companies were nominated or applied for the Fintech 250 (only 8% were selected).
- Ribbit Capital backed 17 of the Fintech 250 companies, while Andreesen Horowitz and Goldman Sachs backed 9.
- 23 Fintech 250 companies have reached a valuation of $1B or more.
- 23 countries are represented among the Fintech 250 companies.
Currencycloud’s inclusion on the Fintech 250 list follows a recent $25 million Series D funding round and an exclusive partnership with South Korean tech giant Hyundai Card. Hyundai selected Currencycloud to power South Korea’s first mobile-remittance service thanks to a simple integration with Currencycloud’s international payment APIs. The partnership will rapidly reduce Hyundai’s time-to-market and enable the service to scale at speed.
About CB Insights
Our team comes to work every day to build technology that helps corporations guess less and win more. We aggregate and analyze massive amounts of data and use machine learning, algorithms and data visualization to help corporations replace the three Gs (Google searches, gut instinct and guys with MBAs*) so they can answer massive strategic questions using probability not punditry.
With backing from the National Science Foundation and venture capital investors, we mine terabytes of data and knowledge contained in patents, venture capital financings, M&A transactions, hiring, startup and investor websites, news sentiment, social media chatter, and more. Our software algorithmically analyzes this data to help our clients see where the world is going tomorrow, today.
*We have MBAs.
Farrah Kim, PR Manager
For more information about the Fintech 250:
To learn more about CB Insights’ Future of Fintech:
Currencycloud‘s Payment Engine is the power inside countless businesses, driving the transformation of the global payments landscape. The company is reimagining the way money flows through the global digital economy, allowing payment firms to remove the friction and inefficiencies of traditional cross-border payments using its flexible APIs. Launched in 2012 Currencycloud is based in London and is regulated in Europe, the USA and Canada. For more information about the company, please visit www.currencycloud.com.
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