CB Insights Fintech 250 List Includes Many Crypto Companies Among 4,000 Applicants and Nominees
CB Insights puts out a yearly Fintech 250 list, ranking the businesses that have had the most innovative progress. This year, in an interesting and productive change, the list includes at least 15 different blockchain and cryptocurrency companies. This is a great indication of how the market has been adopting the technology of the crypto industry.
The potential companies came from a worldwide pool of about 4,000 nominees and applicants, and the list factors in in data from the firms directly, along with market viability and business models. They use an algorithm called Mosaic Score, which examines the overall potential of each of the private companies.
Regarding the way that cryptocurrency startups are becoming even more important in the financial world, the report also discusses the way that traditional finance has been impacted by “insurgent startups.” In fact, the list welcomes 113 new companies, though some of the most noticeable blockchain and crypto firms on the list include:
- Ripple Labs
- Polychain Capital
- Digital Asset Holdings
- Brave Software
- Juzhen Financials
Many of these companies have reached major milestones this year. For instance, in January, Coins.ph reached 5 million customers and is on the way to being one of the biggest and most lucrative financial companies as the Philippine Bitcoin wallet app. They have almost reached $400 billion in the overseas remittance market.
The whole 2018 Fintech 250 list brought in over $53 billion in funding through the last five years. The list even included a few crypto unicorns, which is a phrase used to describe companies with over $1 billion in value. Some of those unicorns includes Robinhood ($5.6 billion) and Coinbase ($1.6 billion). Robinhood has also been featured as a 2018 top most well-funded Retail Investing & Secondary Markets company.
Ribbit Capital has earned the accolade as the top venture capital investor company on the list. It is responsible for investing in Robinhood, Wealthfront, Gusto, Coinbase, Cross River Bank, and Upgrade. This list also has more venture funding and equity investment companies than the year before, though the “top acquisition” of the year is of PayPal buying out iZettle for $2.2 billion.