June 7, 2019
A growing number of new players in any industry is a sign of an expanding market and opportunities for innovators. FinTech is not an exception here. Increasing access to capital, consumer awareness, and acceptance to new ways of managing finances and other ecosystem drivers have been attractive for entrepreneurs in 2018 as well. We were looking at MEDICI startup database stats of new FinTech startups & their growth stories and came across many interesting cases of new players that secured good equity in order funding within one year of entering the market. In case you are inquisitive like us, here is a list of 15 such well-funded startups that were founded in 2018:
Figure Technologies, a United States-based company, has raised $50 million in total funding. Figure is a financial technology company that offers consumer credit products by leveraging blockchain, AI, and advanced analytics. It helps users to learn how to use home equity to consolidate debt, pay for home improvement, or fund their retirement.
Lumi Finance, an Australia-based company, has raised $6.5 million in total funding. Lumi allows MSME companies to avail business loans required for business expansion. It provides both secured and unsecured loans.
Terra, a Singapore-based company, has raised $32 million in total funding. Terra is a crypto project that offers a decentralized stable coin that can be used at various e-commerce platforms.
Nervos Network, a China-based company, has raised $28 million in total funding. Nervous Network is a Chinese blockchain startup that helps enterprises to create solutions & products by leveraging distributed ledger technology. It has developed a protocol that allows the business to develop and deploy solutions for enterprises that want to integrate blockchain into their systems.
ErisX, a United States-based company, has raised $47.5 million in total funding. ErisX is a cryptocurrency trading platform which offers both spot and futures contracts. It supports Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. It also provides settlement services for the spot market.
CDRX, a Singapore-based company, has raised $34 million in total funding. CDRX is a free cryptocurrency trading platform. It allows users to deposit and withdraw digital instruments such as coins, tokens, and crypto depository receipts (CDRs) via securely dedicated wallets.
LoanSnap, a United States-based company, has raised $12.3 million in total funding. LoanSnap is a lending startup that makes people aware of dumb loans and protects them against it. It leverages artificial intelligence to analyze a person’s financial situation and then provide them with loan options as per their needs.
SKALE Labs, a United States-based company, has raised $9.7 million in total funding. Skale provides an open-source, decentralized platform that helps developers to make decentralized applications in a secure & cost-effective manner.
KyckGlobal, a Georgia-based company, has raised $8 million in total funding. Kyckglobal is a B2B FinTech startup that offers payment process for 1099 contractors. It enables businesses to streamline their workforce invoicing and disbursement processes.
Helicap, a Singapore-based company, has raised $6.5 million in total funding. Helicap is an online lending platform that offers funding to alternative lenders like peer-to-peer platforms and micro-financiers. It has developed proprietary tools and to assess both equity and credit risks of originators before providing them funds.
Wagestream, a United Kingdom-based company, has raised $25 million in total funding. Wagestream is a FinTech startup that offers a get-paid-as-you-go service, thereby allowing workers to access their monthly wages in real-time instead of their payday. The platform directly connects with the company’s timekeeping systems and makes a percentage of reported hours/earnings available to its employees. Upon request by employee for early withdrawal, the platform funds the transfer from its own balance sheet. The Wagestream platform is paid back as per the company’s normal payroll process.
Unblockable, a United States-based company, has raised $5 million in total funding. Unblockable offers a blockchain powered crypto collectible market for sport and entertainment. It provides unique, non-fungible tokens that are based on individual athletes, thereby enabling fans to play games and use tokens based on their favorite stars and team.
KZen Networks, an Israel-based company, has raised $4 million in total funding. It helps users to store the digital currency in a wallet & can use it on cryptocurrency trading platforms.
Lumina, a United States-based company, has raised $4 million in total funding. Lumina offers a digital investment platform for institutional investors that allows them to invest in digital assets.
FundGuard, a United States-based company, has raised $4 million in total funding. FundGuard offers a fund management platform for asset managers, asset owners, banks & fund administrators, enabling them to manage investments across mutual funds, ETFs, separately managed accounts, pension funds, as well as insurance. It leverages cloud-based AI technology to provide a real-time SaaS application, support, recommendations, and insights.