Top Forbes companies included FinTech companies
The American edition presented its top companies Forbes, which includes 50 organizations working in the financial industry. Moreover, despite the widespread belief that the cryptocurrency sphere is going through hard times and is slowly falling into the abyss, and the ICO is conducting only scam projects, Forbes has included as many as 5 crypto companies.
Who entered the top Forbes companies?
Ripple, Gemini, Circle, Coinbase and Bitfury entered the Group Crypto & Blockchain. The Coinbase cryptocurrency exchange holds a leading position with the investment volume $ 525 million. Three companies are behind it at once – Ripple, Bitfury and Circle. All of them received total 10 million less funds compared to the trading floor. It is noteworthy that only Bitfury is not exactly an American company – the registration has been carried out in the Netherlands, and the headquarters is located there.
In addition to the top five, the Forbes list also includes 20 new enterprises operating in FinTech industry. For example, it is about Nova Credit helping immigrants to access credit services. In addition, journalists noted Cross River Bank (working with Coinbase itself) and Chime (the first bank of the new generation). In addition to the companies involved in cryptobranch and working with blockchain, there are those whose activities can somehow be associated with this area. For example, among them there is startup Axoni. Forbes journalists took the company to the Wall Street group. Axoni is described as blockchain technology operator allowing users to track data on completed transactions online. Thus, the client is always aware of what happens on his account. In 2018, the organization managed to attract $ 32 million investment from JP Morgan, Goldman Sachs and a number of other famous companies.
Another remarkable project is Robinhood offering solutions for trading. The idea of a startup is to ensure that investors have access to both traditional investment instruments and cryptomonettes. A few months ago, the organization issued permission to carry out its activities in New York.
It is noteworthy that the analytical company CB Insights conducted its own research, in which it claims that FinTech startups managed to attract almost $ 40 billion in total. This figure is 120% higher than last year. Investors showed the highest interest in projects from Asian countries. They totally invested $ 22.6 billion.
Interestingly, Ant Financial, a subsidiary of the trading giant Alibaba, received 60% of all investments in the Asian region. The Chinese organization raised $ 14 billion for 2018. This is more than all FinTech investments in the United States. Local startups received total $ 12 billion. Europe calmed down a bit in terms of venture capital investments, and the market for 2018 amounted to $ 3.5 billion – and nevertheless it is more than in 2017.
The number of rounds of funding over the past year has also increased. 16 new organizations were included in the list of “unicorns”. Revolut, Chime, Nubank, Monzo make the list – these are new generation banks accessible from mobile phones, without physical departments. Insurance company Policybazaar has also become a “unicorn”, FinTech startups can include Plaid and Brex.