Page 88 - Forbes - USA (February 2018)

F I N T E C H
FINTECH 50

Coinbase SAN FRANCISCO Earnin PALO ALTO, CA Fundrise WASHINGTON, D.C. IEX NEW YORK CITY

Offers digital-currency wallets with 10 Mobile app gives hourly workers use Crowdfunding platform allows invest- Stock exchange uses technology to
million-plus users; exchange trading of up to $500 in already earned in- ment of as little as $500 in diversifi ed level the playing field between high-

in Bitcoin, Ethereum, Bitcoin Cash and come before payday. real estate portfolios. frequency traders and long-term in-
Litecoin; and merchant tools. BONA FIDES: Workers from 50,000 BONA FIDES: 17,000 have invested vestors. Just approved to list stocks.
BONA FIDES: $1 billion in revenue in companies, including Walmart and $300 million through the site BONA FIDES: Has a 2.5% market share
2017 Starbucks, have used it FUNDING: $50 million of U.S. stock trading
COFOUNDER & CEO: Brian Armstrong, FUNDING: $65 million FUNDING: $100 million
35 (see “Prophets of Boom,” p. 60)
FUNDING: $217 million; latest offi cial val- GreenSky ATLANTA
uation of $1.6 billion, but surely more Ellevest NEW YORK CITY Kabbage ATLANTA
App arranges on-the-spot fi nancing

Robo-advisor off ers fi nancial plans for home-improvement projects, with Lending platform offers nearly instan-
and ETF portfolios adjusted for wom- contractors doing the marketing and taneous small business loans.
en’s longer lives and lower earnings. banks funding the loans. BONA FIDES: Over $4 billion in origina-
BONA FIDES: In first year of operation BONA FIDES: $10 billion-plus in loans tions to 130,000 small businesses

signed up 6,000-plus clients FUNDING: $560 million; latest valua- FUNDING: $500 million; latest valua-
FUNDING: $44.5 million tion of $4.5 billion tion of $1.18 billion
Enigma NEW YORK CITY Guideline SAN MATEO, CA

Uses AI and natural language pro- Automates 401(k) plan administra-
cessing to extract insights from public tion for small businesses, integrating
data. Insurers, banks, hedge funds use directly with payroll providers.
Enigma to spot risks, gain an edge. BONA FIDES: 3,000 employers so far
BONA FIDES: Has assembled 100,000 FUNDING: $24 million
data sets spanning 100 countries
COFOUNDER & CEO: Hicham Oudghiri,
33, worked in solar fi nancing Gusto SAN FRANCISCO
CommonBond FUNDING: $34.6 million Kensho CAMBRIDGE, MA
NEW YORK CITY Provides cloud-based payroll process-
ing, benefits administration and HR to

firms with 1 to 100 employees for less Uses huge historic database and ma-

Online lender refinances and finances than ADP or Paychex. (See p. 48.) chine learning to analyze how a spe-

undergraduate and graduate stu- BONA FIDES: 40,000-plus employers cific event—from a natural disaster to

dent loans.
FUNDING: $176 million; latest valuation election result—might aff ect markets.
BONA FIDES: Has made $1.5 billion in of $1.1 billion BONA FIDES: Users include Goldman
loans; says just two have defaulted Sachs, BofA Merrill and Citigroup
COFOUNDER & CEO: David Klein, 37 COFOUNDER & CEO: Daniel Nadler, 34,
iCapital NEW YORK CITY
FUNDING: $86.2 million wrote thesis on sovereign credit risk DAVID KLEIN: MATTHEW FURMAN; HICHAM OUDGHIRI: ANDREW SPEAR/THE NEW YORK TIMES/REDUX; DANIEL NADLER: SHAWN G. HENRY; DAVID GURLE: ALAIN APAYDIN/ABACAPRESS/NEWSCOM; KRISTO KAARMANN: LEVON BISS
FUNDING: $150 million; latest valuation
Credit Karma Online platform lets high-net-worth of $650 million
SAN FRANCISCO Feedzai SAN MATEO, CA individuals invest as little as $100,000
per strategy in VC, private equity, real Lemonade NEW YORK CITY
estate and hedge funds.
Provides consumers free credit scores Marries machine-learning-based anal- BONA FIDES: Services more than
and monitoring and free tax prep and ysis of unstructured data such as $5 billion in nearly 10,000 accounts Provides renters’ insurance as cheap

filing, then uses their data to recom- emails and customer service calls with CEO: Goldman Sachs alum Lawrence as $5 a month with sign-up and can-
mend credit cards and loans, collect- structured data from transactions to Calcano, 55 cellation via app. Company keeps 20%
ing referral fees from lenders. spot credit card and payment fraud. FUNDING: $55 million of premiums; the rest goes for claims,
BONA FIDES: 75 million users BONA FIDES: Users include Capital with surplus going to charity.
FUNDING: $368.5 million; latest valua- One, First Data and Citibank BONA FIDES: Donated 10% of revenue
tion of $3.5 billion FUNDING: $82 million; latest valuation in 2017
of $575 million FUNDING: $180 million; latest valuation
Digital Reasoning of $600 million
Forter NEW YORK CITY
NASHVILLE LendingHome
SAN FRANCISCO
Machine-learning, fraud-prevention
Its machine-learning software extracts
meaning from everyday language, al- technology monitors thousands of Online lender provides bridge loans to

lowing fi nancial firms to monitor email data points, including buyer behavior fi x-and-flip housing investors (an un-

and instant messages for misconduct. and geolocation, to decide whether to
decline an online sale. derserved market) in 25 states and
BONA FIDES: Used by Nasdaq, raises funds for those loans from ac-
Goldman Sachs, UBS and Point72 BONA FIDES: Processes more than credited individual investors.
1 billion transactions a year
FUNDING: $76 million BONA FIDES: $2 billion in loans made
FUNDING: $50 million
FUNDING: $166 million
86 | FORBES FEBRUARY 28, 2018