Page 87 - Forbes - USA (February 2018)

F I N T E C H
FINTECH 50

Blockchain LONDON
THE FINTECH 50 World’s most popular cryptocurrency
wallet enables users (including those
in 22 U.S. states) to manage their own
EDITED BY JANET NOVACK AND MATTHEW SCHIFRIN private keys for Bitcoin, Bitcoin Cash
REPORTED BY SAMANTHA SHARF, ANTOINE GARA, LAUREN GENSLER, and Ether.
MAGGIE MCGRATH, LAURA SHIN AND KRISTIN STOLLER BONA FIDES: 23 million-plus wallets
FUNDING: $70 million
While crypto hogs the headlines, technology is disrupting the $8.5

tril lion (market cap) U.S. financial services industry in less fl ashy ways,
Cadre NEW YORK CITY
changing how we invest, borrow and save; how big banks control risk;
and how hedge funds place their bets. Worldwide, $27.4 billion poured
Better Mortgage Online platform allows high-net-worth

into fintech startups in 2017, Accenture reports, up 18% from 2016. individuals and institutional investors
NEW YORK CITY
With so much in play, it’s not surprising that 22 companies are new on to buy into commercial and multifami-
ly real estate at lower fees.
the third edition of our list. All our picks have operations, customers or
Digital-only mortgage originator usu- BONA FIDES: More than $1 billion
impact in the U.S., even if they’re not based here. See more details on invested through platform
ally gives home hunters a “verifi ed
each company at FORBES.COM/FINTECH. preapproval letter” within 24 hours of FOUNDER & CEO: Ryan Williams, 30, on
the time they upload documents. the Forbes 30 Under 30 list
BONA FIDES: Fannie Mae and fi ve of FUNDING: $130 million; latest estimat-
six largest U.S. banks buy its loans ed valuation of $800 million
Acorns IRVINE, CA Adyen AMSTERDAM
FOUNDER & CEO: Vishal Garg, 40
FUNDING: $65 million
Mobile app, with 2.4 million users, Global payments platform allows cli-
rounds up debit or credit card pur- ents (e.g., Microsoft, Uber, Spotify) to The Bitfury Group
chases to nearest dollar, investing take payments from credit and debit AMSTERDAM
extra pennies in low-cost index ETFs. cards, Apple Pay and Google Pay.
BONA FIDES: Big name retailers (e.g., BONA FIDES: Processed close to
Walmart, Apple) kick back 1% or more $150 billion in payments in 2017 Produces hardware and software for
of purchases to accounts FUNDING: $266 million; latest valua- Bitcoin mining and security, plus soft-
FUNDING: $101 million tion of $2.3 billion ware to support blockchains in supply
chains, insurance and government.
BONA FIDES: Working with the
Addepar MOUNTAIN VIEW, CA Affi rm SAN FRANCISCO
Georgian government to put land
titles on the blockchain
COFOUNDER & CEO: Valery Vavilov, 38
Cloud-based software enables fi nan- Makes instant 3- to 12-month loans for (see “Prophets of Boom, ” p. 60) Chain SAN FRANCISCO
cial advisors to track and analyze all purchases from 1,500 merchants, at
of a client’s holdings. APRs of 10% to 30%, using machine FUNDING: $90 million

BONA FIDES: 250-plus fi rms manage learning to okay consumers who Offers blockchain technology for

$900 billion on platform might not qualify for credit cards. financial institutions and ledger-
COFOUNDER & EXECUTIVE CHAIRMAN: BONA FIDES: A million-plus loans balance software for fi ntech and
Joe Lonsdale, 35, also a cofounder of made e-commerce.
Palantir Technologies FUNDING: $450 million; latest estimat- BONA FIDES: Building blockchain
FUNDING: $215 million; latest valuation ed valuation of $1.8 billion projects with Nasdaq and Citigroup
of more than $500 million FUNDING: $43.7 million
Ayasdi MENLO PARK, CA
Chainalysis NEW YORK CITY
Big banks use its machine-learning
technology to analyze their market Its tools allow law enforcement and
and operational risks. institutions to trace specifi c transac-
BONA FIDES: Helped Citigroup pass tions on the blockchain.
the Federal Reserve’s stress tests BONA FIDES: IRS, FBI, DEA & Europol
Blend SAN FRANCISCO
FUNDING: $106 million are all customers
FUNDING: $1.6 million
Cloud-based white-label software al-
Betterment NEW YORK CITY
lows mortgage applicants to link to
their online bank statements, tax re- CircleUp SAN FRANCISCO
turns, etc., chopping approval time.
Largest independent robo-advisor BONA FIDES: Wells Fargo and U.S.
manages ETF portfolios for 0.25% of Bancorp already on board Crowdfunding site connects consumer-
assets a year, or 0.40% with access to product entrepreneurs with accredited
human advisors included. COFOUNDER & CEO: Palantir alum Nima investors and lines of credit.
Ghamsari, 32
BONA FIDES: 300,000 customers with BONA FIDES: 255 startups have
$13 billion under management FUNDING: $160 million; latest valuation received $390 million in equity
JOE LONSDALE: PATRICK T. FALLON/BLOOMBERG; RYAN WILLIAMS : JAMEL TOPPIN
$500 million
FUNDING: $275 million; latest valuation investments through the site
of $800 million FUNDING: $53 million
FEBRUARY 28, 2018 FORBES | 85
BLOCKCHAIN INVESTING PERSONAL PAYMENTS LENDING DATA & WALL STREET CONSUMERS SMALL
& BITCOIN FINANCE ANALYTICS & ENTERPRISE BUSINESS