Page 78 - Forbes - USA (March 2020)

T H E FO R B E S F I N T EC H 5 0

R O OT I N S U R A N C E ST R I P E TA L LY Ì T R U M I D

COLUMBUS, OHIO SAN FRANCISCO SAN FRANCISCO NEW YORK CITY
INSURANCE PAYMENTS PERSONAL FINANCE WALL STREET & ENTERPRISE
Auto insurer sets customers’ Its platform lets businesses Credit card debt consolidation Electronic bond-trading plat-
rates by first monitoring their ranging from small websites to and payoff app extends a line form for investment-grade and
driving with a smartphone Amazon and Facebook accept of credit (at a lower-than-cred- junk bonds. Started with anon-
app measuring 200 variables online payments. Last year, it-card interest rate) to custom- ymous block trades, but now
76 (e.g., braking, miles driven). Stripe launched a corporate ers and applies their monthly also allows traders to post bids
credit card and small business payment to their existing cred- and asks anonymously and
FUNDING: $528 million; latest
valuation of $3.7 billion loans, which are automatically it card debts, avoiding late fees then negotiate privately.
T
S repaid from payments it and paying off highest interest-
I BONA FIDES: $307 million in FUNDING: $200 million
L processes for borrowers. rate balances first.
direct premiums in the first BONA FIDES: Trading volume has
E three quarters of 2019
H FUNDING: $1 billion; latest FUNDING: $92 million; latest surged to $17 billion a month
T COFOUNDERS: CEO Alex Timm, valuation of $35 billion, making valuation of $285 million
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FOUNDER & CEO:
• 31; CTO Dan Manges, 34 Stripe the most valuable private
BONA FIDES: Increased revenue Ronnie Mateo, 46
E fintech in the U.S.
D fourfold in the past year
I BONA FIDES: Processes hundreds
U of billions of dollars a year in COFOUNDERS: CEO Jason Brown,
G STA S H 40; Jasper Platz, 40 Ì
transactions U N I S O N
T
N NEW YORK CITY COFOUNDERS: CEO Patrick SAN FRANCISCO
E Collison, 31, and president
M INVESTING John Collison, 29 TOA ST REAL ESTATE
T For a flat fee of $1 to $9 a
S Offers homebuyers and owners
E month, app offers fractional BOSTON
V in 30 states and Washington,
N purchases of stocks and ETFs, TA L A PAYMENTS D.C., the option of selling some
no-fee checking account and a Its restaurant point-of-sale of the future appreciation in
I
debit card with stock rewards. SANTA MONICA, CALIFORNIA software can handle payments, their houses. If Unison and
FUNDING: $192 million; latest PERSONAL FINANCE reservations, online orders and its investors put down 10% of
1
valuation of $585 million payroll. Now makes loans to
Makes loans ranging from $10 a home’s purchase price, they
BONA FIDES: More than 4 million to $500 to developing-world restaurants, too. take 33% of appreciation when
customers
customers with little or no FUNDING: $498 million; latest the house is sold.
COFOUNDERS: CEO Brandon formal borrowing history, valuation of $2.7 billion FUNDING: $40 million
Krieg, 45; president Ed using their smartphone data BONA FIDES: Processes tens of
Robinson, 36 BONA FIDES: Has bought stakes
to judge risk. (Applicants who billions in sales a year
in $4.4 billion worth of housing
pay utility bills on time and COFOUNDERS: Co-presidents
phone their mother regularly Aman Narang, 37, and Steve FOUNDER AND CEO:
Thomas Sponholtz, 53
Fredette, 36; CTO Jonathan
are more reliable.)
Grimm, 34 CEO: Chris
FUNDING: $200 million; latest Comparato, 52
valuation of $800 million
UPSTA RT
BONA FIDES: Made more than
$1 billion in loans to 4 million T R A N S F E R W I S E SAN MATEO, CALIFORNIA
customers; profitable in Kenya
PERSONAL FINANCE
and the Philippines; growing fast LONDON
in Tanzania, Mexico and India Online lending platform uses
PAYMENTS AI and alternative data such
FOUNDER & CEO:
Shivani Siroya, 38, started Tala Executes international money as education and employment
after having studied the impact transfers for consumers at an history, as well as conventional
MAX SIMKOFF
of microcredit in sub-Saharan average cost of 0.7%, compared credit score and income info,
Africa for the U.N.
STAT E S T I T L E Ì with 4% to 5% at U.S. banks, to underwrite personal loans.
by matching currency orders Upstart says 70% of its origina-
SAN FRANCISCO within a country. Its new debit tions are fully automated.
REAL ESTATE card allows fee-free purchases
FUNDING: $165 million; latest
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Using online ownership data and ATM withdrawals around valuation $750 million
and predictive analytics, clears the world. BONA FIDES: Has generated
80% of homes for title insur- FUNDING: $689 million; latest $6 billion–plus in loans to more
ance in less than a minute. valuation of $3.5 billion than 400,000 borrowers; loans
are funded by five partner
FUNDING: $107 million BONA FIDES: 6 million banks
customers in 71 countries
BONA FIDES: 2019 revenue of transfer $5.5 billion a month COFOUNDERS: CEO Dave
$185 million, after taking over Girouard, 54, previously
part of Lennar’s title business COFOUNDERS: CEO Kristo president at Google Enterprise;
Käärmann, 40, and chairman product head Paul Gu, 29;
COFOUNDER AND CEO: SHIVANI SIROYA Taavet Hinrikus, 39, both
Max Simkoff, 38 originally from Estonia operations head Anna M.
Counselman, 39

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