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1. TRACXN TOP BUSINESS MODELS REPORT
December 23, 2020
FINTECH

2. FinTech - Top Business Models Report Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.
Contents
FinTech Funding - Overview 3
Top Funded Business Models 4
One pagers 9
Appendix 59
2

3. FinTech - Top Business Models Report Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.
FinTech - Funding in last 1 year
3
Payments $10.1B
Internet First Insurance Platforms $6.1B
Alternative Lending $6.0B
Investment Tech $6.0B
Banking Tech $5.9B
Finance & Accounting Tech $3.7B
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
Techstars
Barclays
47
23
13
Early
Stage
Sequoia Capital
Accel
Clocktower Technology
Ven..
13
12
10
Late
Stage
Sequoia Capital
Ribbit Capital
Tiger Global Management
16
14
11
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
United States (46%)
United Kingdom (14%)
India (6%)
Indonesia (5%)
Singapore (4%)
Brazil (3%)
Sweden (3%)
Others (19%)
$ Funding # Rounds
Gojek
(2010, Indonesia)
$1.2B - Series F
Grab
(2012, Singapore)
$856M - Series H
PhonePe
(2012, India)
$700M -
Unattributed
Klarna
(2005, Sweden)
$650M - Series G
Stripe
(2010, United States)
$631M - Series G
Chime
(2013, United States)
$534M - Series F
Ki insurance
(2020, United Kingdom)
$500M - Series D
Revolut
(2015, United Kingdom)
$500M - Series D
Affirm
(2012, United States)
$500M - Series G
Bright Health
(2015, United States)
$500M - Series E
Robinhood
(2013, United States)
$460M - Series G
Robinhood
(2013, United States)
$430M - Series F

4. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Top Funded Business Models - last 1 year (1/5)
4
Rank Business Model $ Funding # Rounds Top Funding Round Details
1<> 0 Digital Wallets $3.0B 44 Gojek | $1.2B | Series F Link
2▲1
Internet First Retail Bank with Partner Bank's
License
$1.8B 42 Chime | $534M | Series F Link
3▲1 Internet First Direct Lender Purchase Financing $1.4B 24 Klarna | $650M | Series G Link
4▼2 Card Linked Payment Wallets $1.2B 11 Grab | $856M | Series H Link
5▲115 Invoice Processing Automation $720M 10 AvidXchange | $260M | Series F Link
6▲36 Internet First Homeowners Insurance $615M 7 Hippo | $350M | Series F Link
7<> 0 Internet First Health Insurers $578M 14 Bright Health | $500M | Series E Link
8▲3 Payment Card Issuer Processors $575M 13 Conductor | $150M | Series D Link
9▲3 Digital Native Retail Banks $569M 13 Nubank | $300M | Series F Link
10▼2 Online Business Payments $546M 42 d-Local | $200M | Series D Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Top Funded Business Models - last 1 year (2/5)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11▼2 P2P Bank Remittance $491M 14 TransferWise | $319M | Series F Link
12▲79 Cryptocurrencies > Financial Services > Diversified $434M 14 Bakkt | $300M | Series B Link
13▲83
Alternative Lending > Online Lenders > Mortgages >
Residential > Marketplace
$403M 13 Molo | $344M | Series A Link
14▲23 B2B Remittance $399M 16 Airwallex | $160M | Series D Link
15▲388 Internet First Usage-based Health Insurers $385M 7 Oscar | $225M | Series D Link
16▼6
Alternative Lending > Online Lenders > Mortgages >
Residential > Direct Lender
$372M 3 Better Mortgage | $200M | Series D Link
17▲30 Open Banking Aggregation APIs $348M 18 Tink | $103M | Series E Link
18▼4 Fraud Detection in Financial Services $332M 25 BioCatch | $145M | Series C Link
19▲163
Alternative Lending > Online Lenders > Business
Loans > Working Capital Loans > Marketplace >..
$303M 5 October | $302M | Series D Link
20▼1
Accounts Payable and Receivable Management
Solutions
$298M 5 Tradeshift | $240M | Series F Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Top Funded Business Models - last 1 year (3/5)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21▲37 Payment Fraud Monitoring Solutions $296M 15 Forter | $125M | Series E Link
22▼4
Internet First Banks for Businesses with Partner
Bank's License
$269M 16 Qonto | $115M | Series C Link
23▲81
Payments > Consumer Payments > Payment Cards >
Prepaid Cards > Children
$268M 9 Greenlight | $215M | Series C Link
24<> 0 Banking Software $264M 19 Cross River | $100M | Series C Link
25▲204
Investment Tech > Wealth Management IT >
Portfolio Management
$250M 21 Addepar | $117M | Series E Link
26▲31
Investment Tech > Private Funds IT > Portfolio
Management
$246M 8 Burgiss | $190M | Series D Link
27▼14 KYC Solutions $236M 36 Onfido | $105M | Series D Link
28▲71 Cryptocurrency Exchanges $235M 29 Bitso | $62.0M | Series B Link
29▼6
Internet First Insurance Platforms > P2P Insurance >
Carrier > Health
$230M 1 Shuidihuzhu | $230M | Series D Link
30▼10 Cap Table Management Software for Corporates $228M 8 Carta | $210M | Series E Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Top Funded Business Models - last 1 year (4/5)
7
Rank Business Model $ Funding # Rounds Top Funding Round Details
31▲23
Finance & Accounting Tech > Accounting Solutions >
Procure to Pay > Account Payables > Payments
$227M 3 Tipalti | $150M | Series E Link
32▲17 Payroll Management Solutions $212M 14 Justworks | $50.0M | Series E Link
33▼3 Corporate Travel & Expense Cards $192M 10 Brex | $150M | Series C Link
34▲40 Internet First Personal Loans Marketplace $187M 12 Auxmoney | $179M | Series F Link
35▲33 Payment Routing Solution Provider $178M 4 Mollie | $106M | Series B Link
36▲9 Internet First Corporate Credit Card Issuers $177M 4 Brex | $150M | Series C Link
37▲16 Internet First Life Insurers $177M 9 Bestow | $70.0M | Series C Link
38▲243
Alternative Lending > Online Lenders > Green
Financing > Commercial > Marketplace
$174M 3 Greenworks Le.. | $150M | Series C Link
39▲160
Payments > Enablers > White Label Solutions >
Payment Facilitators
$172M 8 Payrix | $50.0M | Series A Link
40▲4 Loan Life Cycle Management Software $162M 11 Amount | $81.0M | Series C Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Top Funded Business Models - last 1 year (5/5)
8
Rank Business Model $ Funding # Rounds Top Funding Round Details
41▲88
Internet First Insurance Platforms > Internet First
Insurers > P&C > Cyber
$158M 4 Coalition | $90.0M | Series C Link
42▲18
Finance & Accounting Tech > Accounting Solutions >
Quote to Cash > Subscription Accounting
$153M 4 GoCardless | $95.0M | Series F Link
43▲34 AML Transaction Monitoring in Financial Services $151M 6 Quantexa | $64.7M | Series C Link
44▲7 Core Banking Platforms $147M 4 Thought Mach.. | $83.0M | Series B Link
45▲14 Accounting Solutions for SMBs $141M 7 Nanjing Yunj.. | $85.0M | Series D Link
46▲275
Finance & Accounting Tech > Accounting Solutions >
Record to Report > Invoice Digitization
$135M 3 Receipt Bank | $73.0M | Series C Link
47▲164
Investment Tech > Wealth Management Platforms >
Robo Advisors > Retirement Planning > Employe..
$135M 2 Guideline | $85.0M | Series D Link
48▲40
Payments > Enablers > Payment Security > Payment
Fraud Detection > Chargeback
$133M 5 Bolt | $75.0M | Series C Link
49▼28 Internet first Earned Wages Loans $131M 15 PayActiv | $100M | Series C Link
50▲66
Internet First Worker's Compensation Insurance
Providers
$127M 1 Pie Insurance | $127M | Series C Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Gojek (2010, Indonesia)
$1.2B - Series F - Mar 2020
Grab (2012, Singapore)
$856M - Series H - Feb 2020
PhonePe (2012, India)
$700M - Unattributed - Dec 2020
STC Pay (2018, Saudi Arabia)
$200M - Series D - Nov 2020
Grab (2012, Singapore)
$200M - Series H - Aug 2020
Toss (2015, South Korea)
$173M - Series E - Aug 2020
Gojek (2010, Indonesia)
$150M - Series G - Nov 2020
View all 44 Funding Rounds on Tracxn Platform
Digital Wallets01
9
Back to index
Payments (PayPal)
(# Cos: 10836 | $68.7B)
Consumer Payments (PhonePe)
(# Cos: 3468 | $35.6B)
Wallets (Gojek)
(# Cos: 1176 | $30.1B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$3.0B (▼37.3%)
44(▼13.7%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
48
$30.1B
219
5
1176
40
Gojek
(2010, Indonesia, $4.6B)
PhonePe
(2012, India, $701M)
Grab
(2012, Singapore, $10.0B)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

10. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Retail Bank with Partner
Bank's License02
10
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.8B (▲37.2%)
42(▼10.6%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
13
$3.8B
103
-
306
40
Banking Tech (Monzo)
(# Cos: 4654 | $30.8B)
Internet First Banks (Revolut)
(# Cos: 763 | $13.6B)
Through Bank Partnerships (Varo)
(# Cos: 507 | $4.9B)
Retail Banking (Chime)
(# Cos: 306 | $3.8B)
Chime
(2013, United States, $1.3B)
Varo
(2015, United States, $418M)
Neon
(2016, Brazil, $417M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Chime (2013, United States)
$534M - Series F - Sep 2020
Neon (2016, Brazil)
$300M - Series C - Sep 2020
Varo (2015, United States)
$241M - Series D - Jun 2020
Aspiration (2013, United States)
$135M - Series C - May 2020
Stash (2015, United States)
$133M - Series F - Jul 2020
Current (2015, United States)
$131M - Series C - Nov 2020
Step (2014, United States)
$50.0M - Series B - Dec 2020
View all 42 Funding Rounds on Tracxn Platform

11. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Direct Lender Purchase
Financing03
11
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.4B (▲21.2%)
24(▼17.2%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$4.0B
69
7
129
21
Alternative Lending (Credit Karma)
(# Cos: 7865 | $56.7B)
Online Lenders (Afterpay)
(# Cos: 5555 | $50.2B)
Consumer Loans (Rupeek)
(# Cos: 2891 | $25.4B)
Point of Sale Financing (Klarna)
(# Cos: 300 | $7.2B)
Direct Lender (Affirm)
(# Cos: 129 | $4.0B)
Affirm
(2012, United States, $1.2B)
Klarna
(2005, Sweden, $1.6B)
Afterpay
(2014, Australia, $35.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Klarna (2005, Sweden)
$650M - Series G - Sep 2020
Affirm (2012, United States)
$500M - Series G - Sep 2020
Klarna (2005, Sweden)
$200M - Series F - Jan 2020
Kredivo (2015, Indonesia)
$100M - Convertible Debt - Nov 2020
Zilch (2018, United Kingdom)
$30.0M - Series A - Dec 2020
Tabby (2019, United Arab Emirates)
$23.0M - Series A - Dec 2020
Addi (2018, Colombia)
$15.0M - Series B - May 2020
View all 24 Funding Rounds on Tracxn Platform

12. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Card Linked Payment Wallets04
12
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.2B (▼39.5%)
11(▼26.7%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$10.3B
52
3
261
11
Payments (PayPal)
(# Cos: 10836 | $68.7B)
Consumer Payments (PhonePe)
(# Cos: 3468 | $35.6B)
Wallets (Gojek)
(# Cos: 1176 | $30.1B)
Card Linked (Grab)
(# Cos: 261 | $10.3B)
Grab
(2012, Singapore, $10.0B)
Lydia
(2013, France, $160M)
Zip
(2013, Australia)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Grab (2012, Singapore)
$856M - Series H - Feb 2020
Grab (2012, Singapore)
$200M - Series H - Aug 2020
Lydia (2013, France)
$86.0M - Series B - Dec 2020
Lydia (2013, France)
$44.5M - Series B - Jan 2020
Grab (2012, Singapore)
$30.0M - Series H - Feb 2020
Meemo (2019, United States)
$10.0M - Series A - Jul 2020
Glint (2015, United Kingdom)
$3.3M - Series A - Nov 2020
View all 11 Funding Rounds on Tracxn Platform

13. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Invoice Processing Automation05
13
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$720M (▲1426%)
10(▲233%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$1.4B
23
-
134
5
Finance & Accounting Tech (Receipt Bank)
(# Cos: 7816 | $21.1B)
Accounting Solutions (Workday)
(# Cos: 5299 | $15.1B)
Procure to Pay (FLEETCOR)
(# Cos: 813 | $5.2B)
Account Payables (Tipalti)
(# Cos: 175 | $1.9B)
Invoice Processing (AvidXchange)
(# Cos: 134 | $1.4B)
AvidXchange
(2000, United States, $1.2B)
Beanworks
(2012, Canada, $14.8M)
Melio Payments
(2018, United States, $144M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
AvidXchange (2000, United States)
$260M - Series F - Jan 2020
AvidXchange (2000, United States)
$128M - Series F - Apr 2020
AvidXchange (2000, United States)
$119M - Series F - Aug 2020
Melio Payments (2018, United States)
$80.0M - Series C - Sep 2020
AvidXchange (2000, United States)
$66.0M - Series F - Sep 2020
Melio Payments (2018, United States)
$48.0M - Series B - Mar 2020
AvidXchange (2000, United States)
$8.0M - Series F - Jun 2020
View all 10 Funding Rounds on Tracxn Platform

14. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Homeowners Insurance06
14
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$615M (▲243%)
7(▲40%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$957M
17
-
30
5
Internet First Insurance Platforms (Borrowell)
(# Cos: 2699 | $33.1B)
Internet First Insurers (Alan)
(# Cos: 817 | $22.0B)
P&C (Grab)
(# Cos: 577 | $15.2B)
Property (Hippo)
(# Cos: 57 | $1.1B)
Homeowners (Luko)
(# Cos: 30 | $957M)
Luko
(2016, France, $84.9M)
Hippo
(2015, United States, $709M)
Kin
(2016, United States, $106M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Hippo (2015, United States)
$350M - Series F - Nov 2020
Hippo (2015, United States)
$150M - Series E - Jul 2020
Luko (2016, France)
$60.6M - Series B - Dec 2020
Kin (2016, United States)
$41.7M - Series B - Aug 2020
Velocity Risk.. (2015, United States)
$9.5M - Series A - Feb 2020
Hedvig (2016, Sweden)
$9.1M - Series A - Oct 2020
Steadily (2020, United States)
$3.8M - Seed - Oct 2020

15. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Bright Health (2015, United States)
$500M - Series E - Sep 2020
Oscar (2012, United States)
$225M - Series D - Jun 2020
Oscar (2012, United States)
$140M - Series D - Dec 2020
Bind (2016, United States)
$105M - Series B - Oct 2020
Alan (2016, France)
$54.3M - Series C - Apr 2020
Friday Health.. (2015, United States)
$21.1M - Series C - Feb 2020
Sehteq (2013, United Arab Emirates)
$20.0M - Series B - Aug 2020
View all 14 Funding Rounds on Tracxn Platform
Internet First Health Insurers07
15
Back to index
Internet First Insurance Platforms (Borrowell)
(# Cos: 2699 | $33.1B)
Internet First Insurers (Grab)
(# Cos: 817 | $22.0B)
Health (Alan)
(# Cos: 60 | $3.8B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$578M (▼23%)
14(▲27.3%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$3.8B
30
-
60
12
Alan
(2016, France, $136M)
Bright Health
(2015, United States, $1.6B)
Oscar
(2012, United States, $1.6B)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

16. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Conductor (1997, Brazil)
$150M - Series D - Oct 2020
Marqeta (2010, United States)
$150M - Series E - May 2020
Checkout.com (2012, United Kingdom)
$150M - Series B - Jun 2020
PPRO (2006, United Kingdom)
$50.0M - Series C - Aug 2020
CardInfoLink (2010, China)
$40.0M - Series C - Sep 2020
Conductor (1997, Brazil)
$20.0M - Series D - Dec 2020
ConnexPay (2017, United States)
$6.1M - Series A - Dec 2020
View all 13 Funding Rounds on Tracxn Platform
Payment Card Issuer Processors08
16
Back to index
Payments (PayPal)
(# Cos: 10836 | $68.7B)
Enablers (Fiserv)
(# Cos: 1460 | $9.2B)
Issuer Processor (Heartland Payment
Systems)
(# Cos: 230 | $2.4B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$575M (▲11%)
13(▲30%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
47
$2.4B
103
19
230
15
Heartland Payment Syst..
(1997, United States, $40.0M)
Checkout.com
(2012, United Kingdom, $380M)
Adyen
(2006, Netherlands, $266M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

17. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Digital Native Retail Banks09
17
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$569M (▲11.5%)
13(▲30%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$3.5B
27
3
71
9
Banking Tech (Plaid)
(# Cos: 4654 | $30.8B)
Internet First Banks (Monzo)
(# Cos: 763 | $13.6B)
Digital Native Banks (Revolut)
(# Cos: 145 | $8.5B)
Retail Banking (Ally)
(# Cos: 71 | $3.5B)
Ally
(1919, United States, $1.3B)
Nubank
(2013, Brazil, $1.1B)
Kuda
(2017, Nigeria, $11.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Nubank (2013, Brazil)
$300M - Series F - Aug 2020
Xinja (2017, Australia)
$92.5M - Series C - Mar 2020
Tandem (2013, United Kingdom)
$77.5M - Series C - Mar 2020
Volt Bank (2018, Australia)
$48.1M - Series C - Jan 2020
TONIK (2018, Singapore)
$21.0M - Series A - Jun 2020
Kuda (2017, Nigeria)
$10.0M - Seed - Nov 2020
Pixpay (2019, France)
$9.0M - Series A - Mar 2020
View all 13 Funding Rounds on Tracxn Platform

18. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
d-Local (2013, United States)
$200M - Series D - Sep 2020
Airwallex (2015, Australia)
$160M - Series D - Apr 2020
Flywire (2011, United States)
$120M - Series E - Feb 2020
SYNQA (2015, Thailand)
$80.0M - Series C - Jun 2020
Chargebee (2011, United States)
$55.0M - Series F - Oct 2020
Airwallex (2015, Australia)
$40.0M - Series D - Jul 2020
Iugu (2012, Brazil)
$22.6M - Series A - Sep 2020
View all 42 Funding Rounds on Tracxn Platform
Online Business Payments10
18
Back to index
Payments (Gojek)
(# Cos: 10836 | $68.7B)
Business Payments (Razorpay)
(# Cos: 5903 | $23.9B)
Online Payments (PayPal)
(# Cos: 2278 | $5.6B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$546M (▼19.5%)
42(▲31.3%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
170
$5.6B
416
20
2278
60
PayPal
(1998, United States, $800M)
Payoneer
(2005, United States, $270M)
Ebury
(2009, United Kingdom, $119M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

19. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
P2P Bank Remittance11
19
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$491M (▼22.5%)
14(▼12.5%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
27
$2.4B
90
6
451
13
Remittance (Ebury)
(# Cos: 1604 | $5.6B)
Internet First Platforms (Payoneer)
(# Cos: 1305 | $5.0B)
P2P Remittance (TransferWise)
(# Cos: 925 | $3.4B)
Banking Channels (Remitly)
(# Cos: 451 | $2.4B)
Remitly
(2011, United States, $436M)
TransferWise
(2010, United Kingdom, $1.0B)
TransferGo
(2012, United Kingdom, $65.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TransferWise (2010, United Kingdom)
$319M - Series F - Jul 2020
Remitly (2011, United States)
$85.0M - Series F - Jul 2020
Monese (2015, United Kingdom)
$57.9M - Series C - Jan 2020
WireBarley (2016, South Korea)
$10.0M - Series B - Sep 2020
TransferGo (2012, United Kingdom)
$10.0M - Series C - Jun 2020
Global66 (2018, Chile)
$3.3M - Seed - Jan 2020
BookMyForex (2011, India)
$2.1M - Series A - Mar 2020
View all 14 Funding Rounds on Tracxn Platform

20. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Bakkt (2018, United States)
$300M - Series B - Mar 2020
Bitcoin Suisse (2013, Switzerland)
$48.5M - Series A - May 2020
Fireblocks (2018, United States)
$30.0M - Series B - Nov 2020
Amber Group (2019, China)
$28.0M - Series A - Feb 2020
Bitwala (2015, Germany)
$17.9M - Series B - Nov 2020
Crypto Finance (2017, Switzerland)
$14.5M - Series B - Apr 2020
Zumo (2019, United Kingdom)
$13.3M - Series A - Nov 2020
View all 14 Funding Rounds on Tracxn Platform
Cryptocurrencies > Financial Services >
Diversified12
20
Back to index
Cryptocurrencies (Binance)
(# Cos: 16408 | $8.3B)
Financial Services (Blockchain)
(# Cos: 9803 | $4.7B)
Diversified (Coinbase)
(# Cos: 585 | $1.7B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$434M (▲552%)
14(▲27.3%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$1.7B
92
3
585
16
Coinbase
(2012, United States, $547M)
Blockchain
(2011, United Kingdom, $70.0M)
Coins.ph
(2014, Philippines, $10.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

21. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Alternative Lending > Online Lenders >
Mortgages > Residential > Marketplace13
21
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$403M (▲546%)
13(▲8.3%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$638M
53
-
123
12
Alternative Lending (Credit Karma)
(# Cos: 7865 | $56.7B)
Online Lenders (Affirm)
(# Cos: 5555 | $50.2B)
Mortgages (loanDepot)
(# Cos: 410 | $3.0B)
Residential (Figure)
(# Cos: 168 | $1.8B)
Marketplace (Landbay)
(# Cos: 123 | $638M)
Landbay
(2013, United Kingdom, $20.0M)
Pretto
(2016, France, $10.7M)
Molo
(2017, United Kingdom, $362M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Molo (2017, United Kingdom)
$344M - Series A - Oct 2020
Neat Capital (2015, United States)
$20.5M - Series C - Dec 2020
Molo (2017, United Kingdom)
$13.1M - Series A - Jan 2020
Landed (2015, United States)
$10.5M - Series A - Jun 2020
Neat Capital (2015, United States)
$10.2M - Series B - Aug 2020
Trussle (2015, United Kingdom)
$9.7M - Series C - Jan 2020
Landbay (2013, United Kingdom)
$6.9M - Series B - Nov 2020
View all 13 Funding Rounds on Tracxn Platform

22. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Airwallex (2015, Australia)
$160M - Series D - Apr 2020
Tipalti (2010, United States)
$150M - Series E - Oct 2020
Airwallex (2015, Australia)
$40.0M - Series D - Jul 2020
Veem (2014, United States)
$31.0M - Series D - Sep 2020
iBanFirst (2013, France)
$23.9M - Series C - Jun 2020
Neat (2015, China)
$11.0M - Series A - Apr 2020
EasyEuro (2017, France)
$4.0M - Seed - Feb 2020
View all 16 Funding Rounds on Tracxn Platform
B2B Remittance14
22
Back to index
Remittance (TransferWise)
(# Cos: 1604 | $5.6B)
Internet First Platforms (Remitly)
(# Cos: 1305 | $5.0B)
B2B Remittance (Payoneer)
(# Cos: 187 | $1.5B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$399M (▲101%)
16(▲60%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
12
$1.5B
54
-
187
20
Payoneer
(2005, United States, $270M)
Ebury
(2009, United Kingdom, $119M)
Tipalti
(2010, United States, $283M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

23. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Usage-based Health
Insurers15
23
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$385M (▲ >10K%)
7(▲133%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.8B
9
-
13
4
Internet First Insurance Platforms (Borrowell)
(# Cos: 2699 | $33.1B)
Internet First Insurers (Grab)
(# Cos: 817 | $22.0B)
Health (Alan)
(# Cos: 60 | $3.8B)
Usage-based (Oscar)
(# Cos: 13 | $1.8B)
Oscar
(2012, United States, $1.6B)
Bind
(2016, United States, $190M)
Clinikk
(2015, India, $1.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Oscar (2012, United States)
$225M - Series D - Jun 2020
Oscar (2012, United States)
$140M - Series D - Dec 2020
Bind (2016, United States)
$105M - Series B - Oct 2020
Sehteq (2013, United Arab Emirates)
$20.0M - Series B - Aug 2020
Clinikk (2015, India)
$899K - Seed - Feb 2020
Vital (2019, India)
$381K - Seed - Mar 2020
Clinikk (2015, India)
Undisclosed - Seed - Nov 2020

24. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Alternative Lending > Online Lenders >
Mortgages > Residential > Direct Lender16
24
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$372M (▼31.8%)
3(▼62.5%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$1.1B
18
-
43
6
Alternative Lending (Credit Karma)
(# Cos: 7865 | $56.7B)
Online Lenders (Affirm)
(# Cos: 5555 | $50.2B)
Mortgages (loanDepot)
(# Cos: 410 | $3.0B)
Residential (Landbay)
(# Cos: 168 | $1.8B)
Direct Lender (Figure)
(# Cos: 43 | $1.1B)
Figure
(2018, United States, $228M)
Athena
(2017, Australia, $80.3M)
Better Mortgage
(2016, United States, $480M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Better Mortgage (2016, United States)
$200M - Series D - Nov 2020
Noah (2016, United States)
$150M - Series D - Apr 2020
Verteva (2020, Australia)
$21.5M - Series A - May 2020

25. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Tink (2012, Sweden)
$103M - Series E - Dec 2020
Tink (2012, Sweden)
$99.8M - Series E - Jan 2020
Bond Financia.. (2019, United States)
$32.0M - Series A - Jul 2020
TrueLayer (2016, United Kingdom)
$25.0M - Series C - Sep 2020
Setu (2018, India)
$15.0M - Series A - Mar 2020
Belvo (2019, Spain)
$13.1M - Series A - May 2020
Yapily (2017, United Kingdom)
$13.0M - Series A - Apr 2020
View all 18 Funding Rounds on Tracxn Platform
Open Banking Aggregation APIs17
25
Back to index
Banking Tech (Revolut)
(# Cos: 4654 | $30.8B)
Open Banking (Tink)
(# Cos: 292 | $2.9B)
Aggregation APIs (Plaid)
(# Cos: 139 | $1.2B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$348M (▲122%)
18(▼5.3%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
14
$1.2B
65
1
139
25
Plaid
(2012, United States, $309M)
Tink
(2012, Sweden, $311M)
Yapily
(2017, United Kingdom, $18.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

26. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
BioCatch (2011, Israel)
$145M - Series C - Apr 2020
Chainalysis (2014, United States)
$100M - Series C - Nov 2020
Bolt (2013, United States)
$75.0M - Series C - Dec 2020
Quantexa (2016, United Kingdom)
$64.7M - Series C - Jul 2020
ComplyAdvantage (2014, United States)
$50.0M - Series C - Jul 2020
Bolt (2013, United States)
$50.0M - Series C - Jul 2020
EverC (2008, United States)
$35.0M - Series B - Sep 2020
View all 25 Funding Rounds on Tracxn Platform
Fraud Detection in Financial Services18
26
Back to index
RegTech (CoreLogic)
(# Cos: 1954 | $8.8B)
Fraud Detection (BioCatch)
(# Cos: 437 | $3.6B)
Transaction Monitoring
(ComplyAdvantage)
(# Cos: 383 | $3.0B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$332M (▼15.5%)
25(▼34.2%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
42
$3.0B
144
2
383
41
ComplyAdvantage
(2014, United States, $88.0M)
BioCatch
(2011, Israel, $216M)
Riskified
(2012, United States, $229M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

27. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Alternative Lending > Online Lenders > Business Loans >
Working Capital Loans > Marketplace > P2P19
27
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$303M (▲1263%)
5(▲150%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$652M
22
2
46
6
Alternative Lending (Credit Karma)
(# Cos: 7865 | $56.7B)
Online Lenders (Affirm)
(# Cos: 5555 | $50.2B)
Business Loans (Funding Circle)
(# Cos: 1700 | $10.6B)
Working Capital Loans (Kabbage)
(# Cos: 230 | $2.1B)
Marketplace (OfBusiness)
(# Cos: 160 | $1.0B)
P2P (October)
(# Cos: 46 | $652M)
October
(2014, France, $391M)
Timia Capital
(2008, Canada, $5.2M)
Sardex.net
(2009, Italy, $10.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
October (2014, France)
$302M - Series D - Sep 2020
Sardex.net (2009, Italy)
$6.7M - Series B - Jul 2020
IOUU (2016, Brazil)
$1.4M - Seed - Feb 2020
Pezesha (2016, Kenya)
$30.0K - Seed - Oct 2020
Raqamyah (2017, Saudi Arabia)
Undisclosed - Seed - Feb 2020

28. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Tradeshift (2010, United States)
$240M - Series F - Jan 2020
OSG Billing S.. (1992, United States)
$42.5M - Series C - Jul 2020
Routable (1999, United States)
$12.0M - Series A - Aug 2020
Viewpost (2011, United States)
$3.0M - Series C - May 2020
Troc Circle (2019, Lebanon)
Undisclosed - Seed - Jun 2020
Accounts Payable and Receivable
Management Solutions20
28
Back to index
Finance & Accounting Tech (Receipt Bank)
(# Cos: 7816 | $21.1B)
Accounting Solutions (Workday)
(# Cos: 5299 | $15.1B)
Account Payables & Receivables
(Bill.com)
(# Cos: 234 | $1.6B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$298M (▼3.9%)
5(▼28.6%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
10
$1.6B
51
5
234
6
Bill.com
(2006, United States, $317M)
Tradeshift
(2010, United States, $773M)
PayMate
(2006, India, $68.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

29. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Payment Fraud Monitoring Solutions21
29
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$296M (▲128%)
15(▼16.7%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
37
$1.9B
108
2
243
24
Payments (PayPal)
(# Cos: 10836 | $68.7B)
Enablers (Fiserv)
(# Cos: 1460 | $9.2B)
Payment Security (SafeNet)
(# Cos: 399 | $2.4B)
Payment Fraud Detection
(Emailage)
(# Cos: 243 | $1.9B)
Emailage
(2012, United States, $69.5M)
Bolt
(2013, United States, $193M)
NS8
(2016, United States, $158M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Forter (2013, Israel)
$125M - Series E - Nov 2020
NS8 (2016, United States)
$123M - Series B - Jun 2020
Bolt (2013, United States)
$75.0M - Series C - Dec 2020
Bolt (2013, United States)
$50.0M - Series C - Jul 2020
Arkose Labs (2013, United States)
$22.0M - Series B - Mar 2020
Ravelin Tech.. (2014, United Kingdom)
$20.6M - Series C - Jul 2020
NetGuardians (2007, Switzerland)
$19.2M - Series D - Dec 2020
View all 15 Funding Rounds on Tracxn Platform

30. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Banks for Businesses with Partner
Bank's License22
30
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$269M (▼15.4%)
16( <> 0% )
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$704M
37
-
91
16
Banking Tech (Monzo)
(# Cos: 4654 | $30.8B)
Internet First Banks (Revolut)
(# Cos: 763 | $13.6B)
Through Bank Partnerships (Chime)
(# Cos: 507 | $4.9B)
Business Banking (Tide)
(# Cos: 91 | $704M)
Tide
(2015, United Kingdom, $88.8M)
Qonto
(2016, France, $152M)
Holvi
(2011, Finland, $4.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Qonto (2016, France)
$115M - Series C - Jan 2020
Allica Bank (2017, United Kingdom)
$33.6M - Series A - Sep 2020
NorthOne (2016, Canada)
$21.0M - Series A - Mar 2020
Penta Bank (2016, Germany)
$20.6M - Series B - Mar 2020
Rho Business .. (2010, United States)
$17.9M - Series A - Nov 2020
Oyster (2010, United States)
$14.0M - Seed - Sep 2020
Wise Company (2018, United States)
$12.0M - Series A - Oct 2020
View all 16 Funding Rounds on Tracxn Platform

31. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Payments > Consumer Payments > Payment
Cards > Prepaid Cards > Children23
31
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$268M (▲358%)
9(▲200%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$442M
27
-
59
7
Payments (PayPal)
(# Cos: 10836 | $68.7B)
Consumer Payments (Gojek)
(# Cos: 3468 | $35.6B)
Payment Cards (MoneyTap)
(# Cos: 1017 | $3.6B)
Prepaid Cards (Niyo)
(# Cos: 831 | $2.0B)
Children (Greenlight)
(# Cos: 59 | $442M)
Greenlight
(2014, United States, $297M)
gohenry
(2012, United States, $54.3M)
goHenry
(2011, United Kingdom, $28.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Greenlight (2014, United States)
$215M - Series C - Sep 2020
gohenry (2012, United States)
$40.0M - Series C - Dec 2020
FamPay (2018, India)
$4.7M - Seed - Mar 2020
Mozper (2019, Mexico)
$3.5M - Seed - Nov 2020
Wingocard (2019, Canada)
$2.0M - Seed - Jul 2020
Mozper (2019, Mexico)
$1.5M - Seed - Aug 2020
Mozper (2019, Mexico)
$770K - Seed - Mar 2020
View all 9 Funding Rounds on Tracxn Platform

32. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Banking Software24
32
Back to index
Banking Tech (Revolut)
(# Cos: 4654 | $30.8B)
Banking Software Suite (nCino)
(# Cos: 385 | $1.4B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$264M (▲1.8%)
19(▲58.3%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
23
$1.4B
93
19
385
20
nCino
(2011, United States, $222M)
Fiserv
(1984, United States)
FIS
(1968, United States)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Cross River (2008, United States)
$100M - Series C - Apr 2020
Quantexa (2016, United Kingdom)
$64.7M - Series C - Jul 2020
Appway (2003, United States)
$37.0M - PE - Jun 2020
Moov (2016, United States)
$27.0M - Series A - Nov 2020
Five Degrees (2010, Netherlands)
$26.8M - Series B - Dec 2020
MANTL (2016, United States)
$19.0M - Series A - Jul 2020
Treasury Prime (2017, United States)
$9.0M - Series A - May 2020
View all 19 Funding Rounds on Tracxn Platform

33. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Addepar (2009, United States)
$117M - Series E - Nov 2020
Vise (2016, United States)
$45.0M - Series B - Dec 2020
Addepar (2009, United States)
$40.0M - Series D - Mar 2020
Mio Tech (2016, China)
$15.0M - Series A - Jan 2020
Vise (2016, United States)
$14.5M - Series A - May 2020
Globacap (2017, United Kingdom)
$5.2M - Series A - Nov 2020
SMArtX (2010, United States)
$4.0M - Series A - Feb 2020
View all 21 Funding Rounds on Tracxn Platform
Investment Tech > Wealth Management IT >
Portfolio Management25
33
Back to index
Investment Tech (Robinhood)
(# Cos: 13752 | $33.8B)
Wealth Management IT (SS&C)
(# Cos: 952 | $3.2B)
Portfolio Management (Addepar)
(# Cos: 268 | $1.3B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$250M (▲1838%)
21(▲320%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
33
$1.3B
87
3
268
10
Addepar
(2009, United States, $363M)
FNZ
(2003, United Kingdom)
Mio Tech
(2016, China, $22.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

34. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Burgiss (1987, United States)
$190M - Series D - Jan 2020
CMG (2015, United States)
$25.0M - Series B - Jun 2020
Aumni (2018, United States)
$13.0M - Series A - Oct 2020
Aumni (2018, United States)
$10.0M - Series A - Jan 2020
Parallel Mark.. (2018, United States)
$4.3M - Series A - Apr 2020
CapDesk (2015, United Kingdom)
$3.7M - Series A - Apr 2020
TOPPEQ (2019, India)
Undisclosed - Seed - Dec 2020
View all 8 Funding Rounds on Tracxn Platform
Investment Tech > Private Funds IT >
Portfolio Management26
34
Back to index
Investment Tech (Robinhood)
(# Cos: 13752 | $33.8B)
Private Funds IT (Intralinks)
(# Cos: 484 | $997M)
Portfolio Management (Juniper Square)
(# Cos: 130 | $526M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$246M (▲83.6%)
8(▼20%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
19
$526M
57
2
130
10
Juniper Square
(2014, United States, $108M)
Backstop Solutions
(2003, United States, $20.0M)
Smart Angels
(2012, France, $6.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

35. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
KYC Solutions27
35
Back to index
RegTech (CoreLogic)
(# Cos: 1954 | $8.8B)
KYC (Fenergo)
(# Cos: 571 | $1.8B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$236M (▼49.9%)
36(▼5.3%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
42
$1.8B
198
7
571
45
Fenergo
(2009, Ireland, $181M)
Onfido
(2012, United Kingdom, $242M)
Signicat
(2007, Norway, $2.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Onfido (2012, United Kingdom)
$105M - Series D - Apr 2020
Socure (2012, United States)
$35.0M - Series D - Aug 2020
Intelligo Group (2014, Israel)
$15.0M - Series B - Nov 2020
Mati (2016, United States)
$13.5M - Series A - Nov 2020
Hummingbird (2016, United States)
$8.2M - Series A - May 2020
kompany (2012, Austria)
$7.1M - Series A - Aug 2020
Trust Stamp (2015, United States)
$6.5M - Series A - Jun 2020
View all 36 Funding Rounds on Tracxn Platform

36. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Cryptocurrency Exchanges28
36
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$235M (▲291%)
29(▼17.1%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
40
$654M
223
-
3772
36
Cryptocurrencies (Blockchain)
(# Cos: 16408 | $8.3B)
Financial Services (Coinbase)
(# Cos: 9803 | $4.7B)
Investment Industry (Huobi)
(# Cos: 7357 | $1.7B)
Crypto Exchanges (Binance)
(# Cos: 3772 | $654M)
Binance
(2017, China)
Huobi
(2013, China, $9.6M)
Bitso
(2013, Mexico, $81.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Bitso (2013, Mexico)
$62.0M - Series B - Dec 2020
FalconX (2018, United States)
$17.0M - Series B - May 2020
Bitfxt (2017, Nigeria)
$15.0M - Series A - Feb 2020
Kraken (2011, United States)
$14.0M - Series B - May 2020
CoinDCX (2017, India)
$13.9M - Series B - Dec 2020
BTCDirect (2013, Netherlands)
$12.9M - Series A - Oct 2020
1inch.exchange (2019, Germany)
$12.0M - Series A - Dec 2020
View all 29 Funding Rounds on Tracxn Platform

37. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Insurance Platforms > P2P
Insurance > Carrier > Health29
37
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$230M (▼13.6%)
1(▼50%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$535M
6
-
9
1
Internet First Insurance Platforms (Borrowell)
(# Cos: 2699 | $33.1B)
P2P Insurance (Pineapple)
(# Cos: 89 | $1.3B)
Carrier (Lemonade)
(# Cos: 55 | $1.2B)
Health (Shuidihuzhu)
(# Cos: 9 | $535M)
Shuidihuzhu
(2016, China, $528M)
Yiqihuzhu
(2016, China, $4.5M)
Banmahz
(2015, China, $763K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Shuidihuzhu (2016, China)
$230M - Series D - Jul 2020

38. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Cap Table Management Software for
Corporates30
38
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$228M (▼24.1%)
8(▲100%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$762M
24
-
39
5
Finance & Accounting Tech (Workday)
(# Cos: 7816 | $21.1B)
Financial Planning & Analysis (Anaplan)
(# Cos: 868 | $2.7B)
Equity Administration (Certent)
(# Cos: 73 | $768M)
Cap Table Management (Carta)
(# Cos: 39 | $762M)
Carta
(2012, United States, $658M)
Certent
(2002, United States, $35.9M)
Globacap
(2017, United Kingdom, $6.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Carta (2012, United States)
$210M - Series E - Jun 2020
Pulley (2019, United States)
$10.0M - Series A - Oct 2020
Globacap (2017, United Kingdom)
$5.2M - Series A - Nov 2020
Qapita (2019, Singapore)
$1.8M - Seed - Sep 2020
Visible (2012, United States)
$550K - Seed - May 2020
Pulley (2019, United States)
$125K - Seed - Mar 2020
Quotabook (2019, South Korea)
Undisclosed - Seed - Jun 2020
View all 8 Funding Rounds on Tracxn Platform

39. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Finance & Accounting Tech > Accounting Solutions > Procure
to Pay > Account Payables > Payments31
39
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$227M (▲62.1%)
3(▼66.7%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$489M
16
-
41
5
Finance & Accounting Tech (Receipt Bank)
(# Cos: 7816 | $21.1B)
Accounting Solutions (Workday)
(# Cos: 5299 | $15.1B)
Procure to Pay (FLEETCOR)
(# Cos: 813 | $5.2B)
Account Payables (AvidXchange)
(# Cos: 175 | $1.9B)
Payments (Tipalti)
(# Cos: 41 | $489M)
Tipalti
(2010, United States, $283M)
MineralTree
(2010, United States, $123M)
Nvoicepay
(2009, United States, $28.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Tipalti (2010, United States)
$150M - Series E - Oct 2020
MineralTree (2010, United States)
$54.4M - Series D - Sep 2020
Finexio (2015, United States)
$23.0M - Series B - Oct 2020

40. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Payroll Management Solutions32
40
Back to index
Finance & Accounting Tech (Workday)
(# Cos: 7816 | $21.1B)
Payroll Management (Paylocity)
(# Cos: 462 | $1.7B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$212M (▲42%)
14(▲7.7%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
36
$1.7B
89
5
462
23
Paylocity
(1997, United States, $37.3M)
Niyo
(2015, India, $49.4M)
Zenefits
(2013, United States, $598M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Justworks (2012, United States)
$50.0M - Series E - Jan 2020
Immedis (1996, Ireland)
$50.0M - PE - Dec 2020
Papaya Global (2016, United States)
$40.0M - Series B - Sep 2020
CloudPay (1996, United Kingdom)
$35.0M - Series D - Aug 2020
Deel (2018, United States)
$30.1M - Series B - Sep 2020
Deel (2018, United States)
$18.6M - Series A - May 2020
Pave (2012, United States)
$16.0M - Series A - Dec 2020
View all 14 Funding Rounds on Tracxn Platform

41. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Corporate Travel & Expense Cards33
41
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$192M (▼20.2%)
10(▼23.1%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$924M
31
1
74
9
Finance & Accounting Tech (Receipt Bank)
(# Cos: 7816 | $21.1B)
Accounting Solutions (Workday)
(# Cos: 5299 | $15.1B)
Procure to Pay (FLEETCOR)
(# Cos: 813 | $5.2B)
Travel & Expense (Expensify)
(# Cos: 388 | $1.8B)
Card Solutions (Wright Express)
(# Cos: 74 | $924M)
Wright Express
(1983, United States)
Brex
(2017, United States, $432M)
Pleo
(2015, United Kingdom, $82.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Brex (2017, United States)
$150M - Series C - May 2020
Oyster (2010, United States)
$14.0M - Seed - Sep 2020
Oyster (2010, United States)
$8.7M - Seed - Mar 2020
Bento (2013, United States)
$8.1M - Series B - Dec 2020
Reap (2010, China)
$5.7M - Series A - Jul 2020
Payhawk (2018, United Kingdom)
$3.4M - Seed - Mar 2020
Spenmo (2019, Singapore)
$2.0M - Seed - Aug 2020
View all 10 Funding Rounds on Tracxn Platform

42. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Personal Loans
Marketplace34
42
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$187M (▲107%)
12(▼52%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$7.5B
172
4
611
33
Alternative Lending (Credit Karma)
(# Cos: 7865 | $56.7B)
Online Lenders (Rupeek)
(# Cos: 5555 | $50.2B)
Consumer Loans (Affirm)
(# Cos: 2891 | $25.4B)
Personal Loans (PaySense)
(# Cos: 852 | $9.0B)
Marketplace (Zopa)
(# Cos: 611 | $7.5B)
Zopa
(2005, United Kingdom, $358M)
Money View
(2014, India, $48.5M)
CASHe
(2016, India, $23.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Auxmoney (2007, Germany)
$179M - Series F - Sep 2020
Lendify Sweden (2014, Sweden)
$115M - Series D - Oct 2020
Jumo (2015, South Africa)
$55.0M - Series C - Feb 2020
Jumo (2015, South Africa)
$52.0M - Series C - Sep 2020
Navi (2018, India)
$26.9M - Series C - Apr 2020
Stashfin (2016, India)
$26.6M - Series A - Mar 2020
Avail Finance (2017, India)
$11.5M - Series B - Aug 2020
View all 12 Funding Rounds on Tracxn Platform

43. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Mollie (2004, Netherlands)
$106M - Series B - Sep 2020
Paddle (1998, United Kingdom)
$68.0M - Series C - Nov 2020
BR-DGE (2018, United Kingdom)
$3.3M - Series A - Aug 2020
Xpresslane (2016, India)
$26.8K - Angel - Jul 2020
Payment Routing Solution Provider35
43
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Payments (PayPal)
(# Cos: 10836 | $68.7B)
Enablers (Fiserv)
(# Cos: 1460 | $9.2B)
Payment Routing (Mollie)
(# Cos: 64 | $391M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$178M (▲72%)
4(▲33.3%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$391M
27
1
64
2
Mollie
(2004, Netherlands, $136M)
Spreedly
(2007, United States, $82.8M)
ZooZ
(2010, United States, $40.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

44. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Corporate Credit Card
Issuers36
44
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$177M (▲11.3%)
4(▼50%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$713M
14
-
35
5
Payments (PayPal)
(# Cos: 10836 | $68.7B)
Consumer Payments (Gojek)
(# Cos: 3468 | $35.6B)
Payment Cards (Curve)
(# Cos: 1017 | $3.6B)
Credit Cards (MoneyTap)
(# Cos: 160 | $1.5B)
Corporate Cards (Brex)
(# Cos: 35 | $713M)
Brex
(2017, United States, $432M)
Pleo
(2015, United Kingdom, $82.9M)
Konfío
(2014, Mexico, $143M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Brex (2017, United States)
$150M - Series C - May 2020
Ramp (2019, United States)
$25.0M - Series B - Feb 2020
Karbon (2019, India)
$2.0M - Seed - Mar 2020
Swipe Technol.. (2014, United States)
$125K - Seed - Jul 2020

45. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Bestow (2016, United States)
$70.0M - Series C - Dec 2020
Bestow (2016, United States)
$50.0M - Series B - Apr 2020
Ladder (2015, United States)
$37.5M - Series C - Mar 2020
Fabric (2015, United States)
$18.0M - Series B - Oct 2020
DeadHappy (2013, United Kingdom)
$3.5M - Series A - Oct 2020
DeadHappy (2013, United Kingdom)
$2.2M - Series A - Sep 2020
Mutumutu (2018, Czech Republic)
$1.2M - Seed - Feb 2020
View all 9 Funding Rounds on Tracxn Platform
Internet First Life Insurers37
45
Back to index
Internet First Insurance Platforms (Borrowell)
(# Cos: 2700 | $33.1B)
Internet First Insurers (Grab)
(# Cos: 817 | $22.0B)
Life (Singlife)
(# Cos: 55 | $706M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$177M (▲23.6%)
9(▲12.5%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$706M
26
-
55
9
Singlife
(2014, Singapore, $180M)
Ladder
(2015, United States, $93.6M)
Bestow
(2016, United States, $70.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

46. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Alternative Lending > Online Lenders > Green Financing >
Commercial > Marketplace38
46
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$174M (▲2560%)
3(▼50%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$387M
26
-
69
6
Alternative Lending (Credit Karma)
(# Cos: 7865 | $56.7B)
Online Lenders (Affirm)
(# Cos: 5555 | $50.2B)
Green Financing (Brighte)
(# Cos: 101 | $1.3B)
Commercial (The Sun Exchange)
(# Cos: 69 | $387M)
Marketplace (Wunder)
(# Cos: 69 | $387M)
Wunder
(2013, United States, $15.7M)
The Sun Exchange
(2014, South Africa, $6.9M)
Ecoligo
(2015, Germany, $2.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Greenworks Le.. (2015, United States)
$150M - Series C - Apr 2020
Dividend Fina.. (2013, United States)
$20.0M - Series B - Sep 2020
The Sun Exchange (2014, South Africa)
$3.7M - Series A - Jun 2020

47. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Payments > Enablers > White Label Solutions >
Payment Facilitators39
47
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$172M (▲832%)
8(▲167%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
11
$264M
21
1
71
4
Payments (PayPal)
(# Cos: 10836 | $68.7B)
Enablers (Mastercard)
(# Cos: 1460 | $9.2B)
White Label Solutions (QwikCilver)
(# Cos: 484 | $2.4B)
Payment Facilitators (Fiserv)
(# Cos: 71 | $264M)
Fiserv
(1984, United States)
Volante Tech
(2001, United States, $35.0M)
Finix Payments
(2015, United States, $96.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Payrix (2015, United States)
$50.0M - Series A - Oct 2020
Volante Tech (2001, United States)
$35.0M - Series C - Aug 2020
Finix Payments (2015, United States)
$35.0M - Series B - Feb 2020
Finix Payments (2015, United States)
$30.0M - Series B - Aug 2020
BAY1 (2020)
$11.5M - Series B - Oct 2020
Finix Payments (2015, United States)
$10.0M - Series B - Mar 2020
RevaPay (2017, United States)
$820K - Seed - Jun 2020
View all 8 Funding Rounds on Tracxn Platform

48. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Amount (2018, United States)
$81.0M - Series C - Dec 2020
Blend (2012, United States)
$75.0M - Series F - Aug 2020
Loan Street (2013, United States)
$5.0M - Series A - Feb 2020
Doorr (2018, Canada)
$1.2M - Seed - May 2020
OnlineApplication.ie (2017, Ireland)
$1.2M - Angel - Sep 2020
ChitMonks (2016, India)
$650K - Seed - Jul 2020
Indicina Technologies (2017, Nigeria)
$150K - Seed - Sep 2020
View all 11 Funding Rounds on Tracxn Platform
Loan Life Cycle Management Software40
48
Back to index
Banking Tech (Revolut)
(# Cos: 4654 | $30.8B)
Loan Life Cycle Management (TransUnion)
(# Cos: 1181 | $4.0B)
Suite (Blend)
(# Cos: 368 | $920M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$162M (▼4.1%)
11(▼26.7%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
27
$920M
97
6
368
17
Blend
(2012, United States, $385M)
Black Knight
(1962, United States)
Linedata
(1998, France)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

49. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Insurance Platforms > Internet First
Insurers > P&C > Cyber41
49
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$158M (▲295%)
4(▲300%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$231M
5
-
12
2
Internet First Insurance Platforms (Borrowell)
(# Cos: 2700 | $33.1B)
Internet First Insurers (Alan)
(# Cos: 817 | $22.0B)
P&C (Grab)
(# Cos: 577 | $15.2B)
Cyber (Coalition)
(# Cos: 12 | $231M)
Coalition
(2017, United States, $140M)
At-Bay
(2016, United States, $91.0M)
Bewica
(2017, United Kingdom)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Coalition (2017, United States)
$90.0M - Series C - May 2020
At-Bay (2016, United States)
$34.0M - Series C - Dec 2020
At-Bay (2016, United States)
$34.0M - Series B - Feb 2020
Bewica (2017, United Kingdom)
Undisclosed - Seed - Oct 2020

50. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Finance & Accounting Tech > Accounting Solutions > Quote
to Cash > Subscription Accounting42
50
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$153M (▲21.9%)
4(▼50%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
11
$774M
48
4
169
5
Finance & Accounting Tech (Receipt Bank)
(# Cos: 7816 | $21.1B)
Accounting Solutions (Workday)
(# Cos: 5299 | $15.1B)
Quote to Cash (Chargebee)
(# Cos: 1831 | $4.2B)
Subscription Accounting (Zuora)
(# Cos: 169 | $774M)
Zuora
(2007, United States, $250M)
Chargebee
(2011, United States, $105M)
GoCardless
(2011, United Kingdom, $250M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
GoCardless (2011, United Kingdom)
$95.0M - Series F - Dec 2020
Chargebee (2011, United States)
$55.0M - Series F - Oct 2020
Cledara (2018, United Kingdom)
$3.4M - Seed - Dec 2020
Recurly (2009, United States)
Undisclosed - Series C - Aug 2020

51. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
AML Transaction Monitoring in Financial
Services43
51
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$151M (▲70.6%)
6(▼45.5%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$381M
23
-
84
11
RegTech (CoreLogic)
(# Cos: 1954 | $8.8B)
Fraud Detection (Riskified)
(# Cos: 437 | $3.6B)
Transaction Monitoring (BioCatch)
(# Cos: 383 | $3.0B)
AML (ComplyAdvantage)
(# Cos: 84 | $381M)
ComplyAdvantage
(2014, United States, $88.0M)
Quantexa
(2016, United Kingdom, $90.1M)
DataVisor
(2013, United States, $54.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Quantexa (2016, United Kingdom)
$64.7M - Series C - Jul 2020
ComplyAdvantage (2014, United States)
$50.0M - Series C - Jul 2020
Silent Eight (2013, Singapore)
$15.0M - Series B - Oct 2020
Unit21 (2018, United States)
$13.0M - Series B - Oct 2020
Lucinity (2018, Iceland)
$6.1M - Series A - Jul 2020
Salv (2018, Estonia)
$1.8M - Seed - Dec 2020

52. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Core Banking Platforms44
52
Back to index
Banking Tech (Revolut)
(# Cos: 4654 | $30.8B)
Core Banking Platforms (Thought Machine)
(# Cos: 197 | $856M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$147M (▲1.9%)
4(▼20%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
18
$856M
50
7
197
9
Thought Machine
(2014, United Kingdom, $149M)
Mambu
(2011, Germany, $44.6M)
Finxact
(2016, United States, $42.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Thought Mach.. (2014, United Kingdom)
$83.0M - Series B - Mar 2020
Thought Mach.. (2014, United Kingdom)
$42.0M - Series B - Jul 2020
Nymbus (2015, United States)
$12.0M - Series B - Jun 2020
Neocova (2019, United States)
$9.6M - Series A - Jan 2020

53. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Accounting Solutions for SMBs45
53
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$141M (▲11.9%)
7(▼69.6%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
48
$965M
134
11
1141
18
Finance & Accounting Tech (Zuora)
(# Cos: 7816 | $21.1B)
Accounting Solutions (Receipt Bank)
(# Cos: 5299 | $15.1B)
Accounting Suite (Workday)
(# Cos: 1418 | $1.7B)
SMBs (Xero)
(# Cos: 1141 | $965M)
Xero
(2006, New Zealand)
Intuit
(1983, United States)
Sage Group
(1997, United Kingdom)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Nanjing Yunjiafang Ne.. (2015, China)
$85.0M - Series D - Dec 2019
Zeitgold (2015, Germany)
$29.2M - Series B - May 2020
Candis (2015, Germany)
$14.1M - Series B - Jul 2020
Bokio (2015, Sweden)
$8.0M - Series B - Apr 2020
Countingup (2017, United Kingdom)
$5.0M - Series A - May 2020
The Accounta.. (2014, United Kingdom)
Undisclosed - Seed - Jan 2020
Wave (2010, Canada)
Undisclosed - Series D - Jul 2020

54. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Finance & Accounting Tech > Accounting Solutions > Record
to Report > Invoice Digitization46
54
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$135M (▲3769%)
3(▲50%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$267M
38
-
123
4
Finance & Accounting Tech (Xero)
(# Cos: 7816 | $21.1B)
Accounting Solutions (Workday)
(# Cos: 5299 | $15.1B)
Record to Report (KhataBook)
(# Cos: 1002 | $2.3B)
Invoice Digitization (Receipt Bank)
(# Cos: 123 | $267M)
Receipt Bank
(2010, United Kingdom, $144M)
Hubdoc
(2011, Canada, $4.8M)
Microblink
(2014, United Kingdom, $60.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Receipt Bank (2010, United Kingdom)
$73.0M - Series C - Jan 2020
Microblink (2014, United Kingdom)
$60.0M - Series C - Dec 2020
ReceiptHero (2016, Finland)
$2.4M - Seed - Dec 2020

55. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Investment Tech > Wealth Management Platforms > Robo
Advisors > Retirement Planning > Employer Enabled47
55
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$135M (▲771%)
2( <> 0% )
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$346M
8
1
10
2
Investment Tech (Robinhood)
(# Cos: 13753 | $33.8B)
Wealth Management Platforms (Fidelity
Investments)
(# Cos: 2938 | $7.5B)
Robo Advisors (Wealthsimple)
(# Cos: 419 | $3.2B)
Retirement Planning (Guideline)
(# Cos: 19 | $363M)
Employer Enabled (Human Interest)
(# Cos: 10 | $346M)
Human Interest
(2015, United States, $81.7M)
Guideline
(2015, United States, $144M)
ForUsAll
(2013, United States, $35.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Guideline (2015, United States)
$85.0M - Series D - Jul 2020
Human Interest (2015, United States)
$50.0M - Series C - May 2020

56. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Payments > Enablers > Payment Security >
Payment Fraud Detection > Chargeback48
56
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$133M (▲84.9%)
5(▲66.7%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$334M
13
-
57
5
Payments (PayPal)
(# Cos: 10836 | $68.7B)
Enablers (Fiserv)
(# Cos: 1460 | $9.2B)
Payment Security (SafeNet)
(# Cos: 399 | $2.4B)
Payment Fraud Detection (Emailage)
(# Cos: 243 | $1.9B)
Chargeback (Bolt)
(# Cos: 57 | $334M)
Bolt
(2013, United States, $193M)
Ravelin Technology
(2014, United Kingdom, $37.2M)
Ethoca
(2005, Canada, $45.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Bolt (2013, United States)
$75.0M - Series C - Dec 2020
Bolt (2013, United States)
$50.0M - Series C - Jul 2020
Ravelin Tech.. (2014, United Kingdom)
$20.6M - Series C - Jul 2020
Chargeback (2007, United States)
$6.6M - Series A - Jun 2020
Gravy (2019, United States)
$1.5M - Series A - Jun 2020

57. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Internet first Earned Wages Loans49
57
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$131M (▼55.7%)
15(▲25%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$945M
37
-
57
11
Alternative Lending (Credit Karma)
(# Cos: 7865 | $56.7B)
Online Lenders (Rupeek)
(# Cos: 5555 | $50.2B)
Consumer Loans (Affirm)
(# Cos: 2891 | $25.4B)
Payroll Loans (SalaryFinance)
(# Cos: 111 | $1.1B)
Earned Wages (Even)
(# Cos: 57 | $945M)
Even
(2014, United States, $75.5M)
Earnin
(2012, United States, $190M)
PayActiv
(2012, United States, $134M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
PayActiv (2012, United States)
$100M - Series C - Aug 2020
Karma (2018, United Kingdom)
$18.3M - Series B - May 2020
ZayZoon (2014, Canada)
$3.5M - Series A - Jun 2020
Beforepay (2019, Australia)
$2.8M - Series A - Nov 2020
NowPay (2018, Egypt)
$2.1M - Seed - Oct 2020
Payflow (2020, Spain)
$1.8M - Seed - Jul 2020
Cheq (2019, Australia)
$920K - Seed - Feb 2020
View all 15 Funding Rounds on Tracxn Platform

58. Copyright © 2020, Tracxn Technologies Private Limited. All rights reserved.FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Worker's Compensation
Insurance Providers50
58
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$127M (▲158%)
1(▼50%)
Funded CompaniesCompanies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$202M
4
-
7
1
Internet First Insurance Platforms (Borrowell)
(# Cos: 2701 | $33.1B)
Internet First Insurers (Alan)
(# Cos: 817 | $22.0B)
P&C (Grab)
(# Cos: 577 | $15.2B)
Workers' Compensation (Pie
Insurance)
(# Cos: 7 | $202M)
Pie Insurance
(2017, United States, $192M)
Cerity Services
(2002, United States)
Cake Insure
(2017, United States, $10.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Pie Insurance (2017, United States)
$127M - Series C - May 2020

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