
The Banking Tech sector has over 3K+ startups contributing to the advancement of Banking and related Industries. These startups include the ones providing software, innovative hardware solutions & tech enabled services to banking institutions and neo banks! The United States of America, The United Kingdom, India, China and Canada are amongst the top countries leading the Banking Tech sector.
Banking Tech is also one of the active sectors for investors, with an overall funding of nearly USD 30 Bn in 1000+ companies. It is also interesting to note that nearly half of the funding has been raised in the recent 2 years (2018-2019).
Plug and Play Tech Centre, Techstars, FinTech Innovation Lab, Startupbootcamp and Village Capital are amongst the most active early stage investors in this sector, by number of investments. Other notable late stage investors include Insight Venture Partners, Citi Ventures and Visa.
Banking software suite, RegTech, Credit assessment, Open Banking and Card linked Marketing are the top business models attracting major funding.
The sector has also seen the rise of over 14 unicorns - recent ones being Deposit Solutions, Chime Bank, N26, Plaid, Monzo just to name a few; We also have nearly 50 public companies - with Cardlytics, Alfa Systems going public in the recent past.
We, at Tracxn, keep a track of the latest happenings in the world of startups and their associated ecosystems – including venture capital funds, private equity funds and investment banks amongst others.
In this edition, we have the ‘Top Banking Tech startups’ – a curated list of the most promising startups leading the banking revolution, from across the globe.
Unicorns, with their valuations exceeding the billion dollar mark, and even multi-billion mark in a few cases, represent represent the top Banking tech startups globally.
2013, London
USD 1.00B
2013, Sao Paulo
USD 820M
2013, San Francisco
USD 805M
2013, Berlin
USD 683M
2015, Shenzhen
USD 650M
2014, Durham
USD 538M
2014, Shenzhen
USD 450M
2015, London
USD 422M
2015, London
USD 361M
2013, Hangzhou
USD 246M
The Soonicorns - soon to be Unicorns - are the handful of highly valued startups which have successfully grown out of their nascency to attract valuations of over a few hundred millions. Watch out for these companies in the coming years as they take on the journey to becoming the elite Unicorns.
2016, Seoul
USD 424M
2014, London
USD 340M
2013, Berlin
USD 228M
2015, San Francisco
USD 142M
2016, Berlin
USD 118M
2015, Cape Town
USD 103M
2016, London
USD 88M
2015, Irvine
USD 83M
2013, Toronto
USD 51M
2014, San Francisco
USD 51M
2013, Toronto
USD 50M
2015, Bangalore
USD 49M
2016, London
USD 47M
2014, London
USD 46M
2014, London
USD 33M
2014, Seattle
USD 26M
The Minicorns - are the high growth early stage ventures (Series A+). Watch out for these companies as they take the business to the next level, by scaling up for the accelerated growth.
2016, Paris
USD 36M
2017, Boston
USD 32M
2013, San Francisco
USD 27M
2016, Madrid
USD 27M
2014, London
USD 24M
2016, London
USD 23M
2013, Bangalore
USD 23M
2016, Espoo
USD 11M
2013, Eagan
USD 17M
2015, St. Louis
USD 16M
2013, Dublin
USD 16M
2016, Bangalore
USD 15M
2015, London
USD 11M
2016, Bangalore
USD 11M
2014, Bangalore
USD 10M
2016, London
USD 9M
2015, Gothenburg
USD 8M
2016, London
USD 8M
2014, Atlanta
USD 6M
2016, Berlin
USD 6M
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Disclosed
USD 1.00B 2013 , London (United Kingdom) Digital-only bank Investors: Hilltop Credit Partners, Clermont + 12 more Last round: USD 39M, Conventional Debt, May 2019 |
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Disclosed
USD 820M 2013 , Sao Paulo (Brazil) Credit card issuer and digital bank Investors: TCV, Tencent + 14 more Last round: USD 400M, Series F, Jul 2019 |
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Disclosed
USD 805M 2013 , San Francisco (United States) Internet-first bank Investors: DST Global, General Atlantic + 22 more Last round: USD 500M, Series E, Dec 2019 |
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Disclosed
USD 683M 2013 , Berlin (Germany) Mobile-first bank for consumer & businesses Investors: Tencent, Allianz X + 21 more Last round: USD 170M, Series D, Jul 2019 |
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Disclosed
USD 650M 2015 , Shenzhen (China) Software solutions for the financial services industry Investors: SoftBank Investment Advisers Last round: USD 650M, Series A, Jun 2018 |
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Disclosed
USD 538M 2014 , Durham (United Kingdom) Internet-first bank Investors: Woodford Investment Management + 12 more Last round: USD 16M, Grant (prize money), Aug 2019 |
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Disclosed
USD 450M 2014 , Shenzhen (China) Online bank by Tencent Group Investors: Warburg Pincus, Temasek Last round: USD 450M, PE, Jan 2016 |
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Disclosed
USD 422M 2015 , London (United Kingdom) Internet-first retail bank Investors: Y Combinator, General Catalyst Partners + 17 more Last round: USD 144M, Series F, Jun 2019 |
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Disclosed
USD 361M 2015 , London (United Kingdom) Internet-first bank Investors: Index Ventures, Ribbit Capital + 45 more Last round: USD 250M, Series C, Apr 2018 |
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Disclosed
USD 246M 2013 , Hangzhou (China) AI-based risk management solutions Investors: GF Securities, Zheshang Venture Capital + 18 more Last round: Series D, Jun 2019 |
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Disclosed
USD 424M 2016 , Seoul (South Korea) Internet first bank in Korea Investors: Last round: USD 87M, Series B, Dec 2018 |
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Disclosed
USD 340M 2014 , London (United Kingdom) Internet First Full Stack Bank Investors: Merian Global Investors + 1 more Last round: USD 39M, Series C, Oct 2019 |
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Disclosed
USD 228M 2013 , Berlin (Germany) Marketplace for term deposits Investors: Goldman Sachs, PayPal + 12 more Last round: USD 28M, Series D, Jul 2019 |
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Disclosed
USD 142M 2015 , San Francisco (United States) Mobile only neo-bank Investors: Warburg Pincus, The Rise Fund + 2 more Last round: USD 65M, Series C, Jan 2019 |
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Disclosed
USD 118M 2016 , Berlin (Germany) API provider for banking platform development Investors: FinLeap, Arvato Systems + 9 more Last round: USD 70M, Series B, Mar 2018 |
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Disclosed
USD 103M 2015 , Cape Town (South Africa) Mobile money marketplace for people, SMBs and MNOs Investors: Odey Asset Management, Finnfund + 7 more Last round: USD 13M, Series B, Dec 2018 |
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Disclosed
USD 88M 2016 , London (United Kingdom) Cloud-based core banking APIs Investors: Nationwide, Oliver Wyman + 2 more Last round: USD 42M, Series B, Mar 2019 |
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Disclosed
USD 83M 2015 , Irvine (United States) Solutions for automation of mortgage lending process Investors: Riverwood Capital, Upfront Ventures + 3 more Last round: USD 60M, Series C, Sep 2019 |
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Disclosed
USD 79M 2013 , London (United Kingdom) Mobile-only neo bank for both individuals and businesses Investors: Augmentum, Kinnevik + 17 more Last round: USD 3M, Series B, Jun 2019 |
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Disclosed
USD 55M 2014 , Nashville (United States) Streamlines lending for construction industry Investors: Goldman Sachs Investment Partners, Index Ventures + 5 more Last round: USD 31M, Series B, Mar 2019 |
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Disclosed
USD 55M 2014 , Berlin (Germany) Secondary marketplace for loans Investors: Santander InnoVentures, ABN AMRO Bank + 12 more Last round: USD 39M, Series B, Oct 2019 |
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Disclosed
USD 53M 2014 , Munich (Germany) KYC and electronic signing solutions provider Investors: Corsair Capital, Seventure Partners + 3 more Last round: USD 40M, Series C, Oct 2019 |
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Disclosed
USD 51M 2013 , Toronto (Canada) Receipt management provider for digital banking applications Investors: National Bank of Canada, Information Venture Partners + 14 more Last round: USD 32M, Series B, Jul 2019 |
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Disclosed
USD 51M 2014 , San Francisco (United States) White-label APIs for banking services Investors: Andreessen Horowitz, Trinity Ventures + 3 more Last round: USD 33M, Series B, Jun 2019 |
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Disclosed
USD 50M 2013 , Toronto (Canada) Context-aware mobile solution provider Investors: Mastercard, Point72 Ventures + 13 more Last round: USD 35M, Series C, Jul 2019 |
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Disclosed
USD 49M 2015 , Bangalore (India) Mobile-banking solution for employee benefits management Investors: Horizons Ventures, Tencent + 3 more Last round: USD 35M, Series B, Jul 2019 |
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Disclosed
USD 47M 2016 , London (United Kingdom) Applications to bank infrastructure connector Investors: Temasek, Tencent + 7 more Last round: USD 35M, Series C, Jun 2019 |
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Disclosed
USD 46M 2014 , London (United Kingdom) Solutions for Anti-money laundering, sanctions enforcement, OFAC search, anti-bribery and corruption Investors: Index Ventures, Communitas Capital + 29 more Last round: USD 34M, Series B, Jan 2019 |
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Disclosed
USD 33M 2014 , London (United Kingdom) Company offering credit scores to individuals using machine learning algorithms Investors: Crane Venture Partners, Orange Digital Ventures + 48 more Last round: USD 11M, Series B, Feb 2019 |
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Disclosed
USD 26M 2014 , Seattle (United States) Self-learning personalization platform Investors: Greycroft Partners, Ignition Partners + 4 more Last round: USD 18M, Series B, Sep 2017 |
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Disclosed
USD 79M 2014 , London (United Kingdom) Identity verification solutions Investors: ARC InterCapital Last round: USD 10M, Series A, Aug 2019 |
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Disclosed
USD 72M 2015 , London (United Kingdom) Mobile first bank for small businesses Investors: Augmentum, SBI Holdings + 19 more Last round: USD 54M, Series B, Oct 2019 |
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Disclosed
USD 44M 2013 , Menlo Park (United States) Conversational AI solutions for mobile applications Investors: Rho Capital Partners, Oak HC/FT + 18 more Last round: USD 15M, Series B, Sep 2019 |
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Disclosed
USD 42M 2016 , Jacksonville (United States) Cloud-based core banking software Investors: SunTrust Bank, American Bankers Association + 5 more Last round: USD 30M, Series A, Jan 2019 |
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Disclosed
USD 36M 2016 , Paris (France) Neo bank for SMEs and freelancers Investors: Valar Ventures, Alven + 1 more Last round: USD 23M, Series B, Sep 2018 |
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Disclosed
USD 32M 2017 , Boston (United States) Platform for digitizing credit policies Investors: Patriot Financial Partners, Venrock + 6 more Last round: USD 15M, Series B, Sep 2019 |
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Disclosed
USD 27M 2013 , San Francisco (United States) Behaviorial Analytics based debt recovery solutions Investors: Arbor Ventures, Nyca + 14 more Last round: USD 13M, Conventional Debt, Apr 2019 |
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Disclosed
USD 27M 2016 , Madrid (Spain) Financial product marketplace with a checking account Investors: DN Capital, Redalpine + 9 more Last round: USD 25M, Series A, Oct 2019 |
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Disclosed
USD 24M 2014 , London (United Kingdom) Blockchain-based core banking engine offered through SaaS Investors: Lloyds Banking Group, Backed VC + 2 more Last round: USD 24M, Series A, Nov 2018 |
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Disclosed
USD 23M 2016 , London (United Kingdom) Fraud and financial crime solutions and analytics Investors: Accenture, Albion Capital Group + 2 more Last round: Series B, Nov 2018 |
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Disclosed
USD 23M 2013 , New York City (United States), Bangalore (India) Apps for sales productivity and management Investors: Sequoia Capital, Emergence Capital + 2 more Last round: USD 18M, Series B, Jul 2019 |
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Disclosed
USD 11M 2016 , Espoo (Finland) Payment and open banking solution provider Investors: Maki.vc Last round: USD 6M, Series A, Nov 2019 |
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Disclosed
USD 17M 2013 , Eagan (United States) Account switching solution Investors: Point72 Ventures, Commerce Ventures + 3 more Last round: USD 13M, Series B, May 2019 |
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Disclosed
USD 16M 2015 , St. Louis (United States) Financial Data Platform to reduce loan origination time Investors: Missouri Technology, Cultivation Capital + 3 more Last round: USD 10M, Series B, Nov 2019 |
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Disclosed
USD 16M 2013 , Dublin (Ireland) Regulatory and compliance risk management for financial firms Investors: Kernel Capital, Intercept Ventures + 2 more Last round: USD 11M, Series A, Nov 2018 |
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Disclosed
USD 15M 2016 , Singapore, Bangalore (India) Conversational banking platform Investors: Innocells, Kalaari Capital + 7 more Last round: USD 3M, Series A, Jun 2019 |
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Disclosed
USD 14M 2016 , Melbourne (Australia) Payment solutions for banks Investors: Plug and Play Tech Center, Alium Capital Management Last round: USD 7M, Series A, Jun 2019 |
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Disclosed
USD 14M 2016 , Vancouver (Canada) AI based virtual assistant for banking and financial services Investors: Yaletown Partners, Flying Fish Partners + 6 more Last round: USD 14M, Series A, Oct 2018 |
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USD 12M 2016 , Singapore Cardless cash withdrawal app Investors: Glory Global Solutions, South Central Ventures + 5 more Last round: USD 6M, Series B, Jul 2019 |
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USD 12M 2015 , Singapore, Bangalore (India) Wealth management solution for financial institutions Investors: Schroders, TH Capital + 2 more Last round: USD 12M, Series A, May 2018 |
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Disclosed
USD 11M 2015 , London (United Kingdom) Banking as a platform service provider Investors: Moneta, CreditEase + 13 more Last round: USD 10M, Series A, Sep 2019 |
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Disclosed
USD 11M 2016 , Bangalore (India) Credit rating app and lending marketplace Investors: Saama Capital, Beenext + 6 more Last round: USD 418K, Series A, Oct 2019 |
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Disclosed
USD 10M 2014 , Bangalore (India) Bank sponsored wallet Investors: Khosla Labs, IDFC Last round: USD 164K, Series A, Oct 2018 |
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Disclosed
USD 9M 2016 , London (United Kingdom) Card payment linked loyalty scheme provider Investors: E.ventures, PROfounders Capital Partners + 17 more Last round: USD 8M, Series A, Dec 2018 |
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Disclosed
USD 8M 2015 , Gothenburg (Sweden) White-label subscription management platform Investors: Swedbank, Zenith Group + 1 more Last round: USD 6M, Series A, May 2019 |
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Disclosed
USD 8M 2016 , London (United Kingdom) Distribution platform for trade finance assets Investors: Accelerated Digital Ventures, GTR Ventures + 3 more Last round: USD 6M, Seed, Jul 2018 |
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Disclosed
USD 6M 2016 , Berlin (Germany) Smart Banking for freelancers and self-employed Investors: Haufe Group, Growth Fund + 1 more Last round: Series A, Oct 2018 |
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Disclosed
USD 5M 2017 , London (United Kingdom) PSD2 compliant APIs provider Investors: LocalGlobe, HV Holtzbrinck Ventures + 3 more Last round: USD 5M, Seed, May 2019 |
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Disclosed
USD 5M 2016 , Delhi (India) Marketing analytics solutions based on big data & AI Investors: Atul Goel, Nexus Venture Partners + 3 more Last round: USD 1M, Seed, Mar 2019 |
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Disclosed
USD 5M 2017 , Sydney (Australia) Receipt management solution for merchants Investors: Reinventure Group, ANZ + 2 more Last round: USD 3M, Series A, Sep 2019 |
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USD 2M 2013 , Ottawa (Canada) Financial data aggregation platform Investors: Start-Up Chile Last round: USD 3M, Series A, Jun 2018 |
The Emerging Startup Series comprises of Unicorns - companies with over $1 billion valuation, Soonicorns - companies with high valuation and good chances of soon becoming Unicorns, and Minicorns - early-stage companies that have the potential to be Unicorns in the long term.
Tracxn Emerging Startups provides a handpicked selection of high growth and high potential companies, founded since 2013, that are making an impact in the new-age sectors. The shortlisting is based on a combination of multiple publicly available signals and detailed analysis of the company by our internal sector specialist teams. The companies that make the cut are the ones that show promising performance on multiple parameters - market size, investment by marquee investors, execution excellence and future growth prospects.
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