JavaScript is disabled in your browser. enable it to enjoy the full features of Tracxn.

Top Emerging Payments Startups | Tracxn
post-image

Top Emerging Payments Startups


Last Updated: January 28, 2020


The Payments sector has over 8K+ tech startups which participate in web based and also offline payment modes. Also includes companies which provide alternative modes of payment, companies which support the payment ecosystem in terms of security, analytics and platform.

Payments is also one of the active sectors for investors, with an overall funding of nearly USD 108 Bn in 2K+ companies. It is also interesting to note that nearly half of the funding has been raised in the recent 2 years (2018-2019).

Y Combinator, Plug and Play Tech Center, Village Capital, Sequoia Capital, Techstars are amongst the most active investors in this sector, by number of investments.

Consumer Payments (Wallets, Payment Cards), Business payment solutions (Online payment platforms, POS solutions), White label solutions are the top business models attracting major funding.

The sector has also seen the rise of over 16 unicorns - EquensWorldline, FraudMetrix, Marqeta just to name a few; We also have nearly 113 public companies - Tyro, Network International, i3 Verticals 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 Payments startups’ – a curated list of the most promising startups leading the Payments ecosystem, from across the globe.

Go to Top

Unicorns

Unicorns, with their valuations exceeding the billion dollar mark, and even multi-billion mark in a few cases, represent the top Payments startups globally.


Nubank

2013, Sao Paulo
USD 820M

Brex

2017, San Francisco
USD 315M

FraudMetrix

2013, Hangzhou
USD 246M

OVO

2015, Jakarta
-

EquensWorldline

2016, Utrecht
-

Go to Top

Soonicorns

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.


CRED

2018, Bangalore
USD 147M

Momo

2013, Ho Chi Minh City
USD 134M

Razorpay

2014, Bangalore
USD 107M

PayIt

2013, Kansas City
USD 107M

Deserve

2013, Menlo Park
USD 100M

BharatPe

2017, Bangalore
USD 82M

Soldo

2014, London
USD 82M

Pleo

2015, London
USD 79M

Curve

2015, London
USD 75M

SUNMI

2013, Shanghai
USD 61M

Chainalysis

2014, Manhattan
USD 54M

Niyo Solutions

2015, Bangalore
USD 49M

Petal

2016, New York City
USD 48M

Kissht

2015, Mumbai
USD 43M

Borrowell

2014, Toronto
USD 34M

Zelle

2016, Phoenix
-

Go to Top

Minicorns

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.


Greenlight

2014, Atlanta
USD 82M

Yoyowallet

2013, London
USD 74M

True Balance

2015, Gurgaon
USD 65M

Flutterwave

2016, San Francisco
USD 64M

Sunbit

2016, Los Angeles
USD 54M

Current

2015, New York City
USD 45M

Satispay

2013, Milan
USD 45M

Verse

2015, Barcelona
USD 41M

Moka

2014, Jakarta
USD 40M

NS8

2016, Herndon
USD 35M

Modulr Finance

2015, London
USD 31M

iBanFirst

2013, Paris
USD 28M

Kyash

2015, Tokyo
USD 26M

Yoco

2013, Cape Town
USD 23M

PAYFAZZ

2016, Jakarta
USD 22M

Slice

2015, Bangalore
USD 21M

Cardlay

2016, Odense
USD 19M

Form³ Financial Cloud

2016, London
USD 18M

Teampay

2016, New York City
USD 17M

Paykey

2015, Tel Aviv
USD 16M

PayRange

2013, Portland
USD 15M

Verrency

2016, Melbourne
USD 14M

Silot

2017, Beijing
USD 14M

MoneyTap

2015, Bangalore
USD 12M

Paystack

2015, San Francisco
USD 12M

Assembly

2013, Melbourne
USD 12M

Baton Systems

2016, Fremont
USD 12M

Osper

2013, London
USD 11M

Mezu

2017, Cleveland
USD 10M

Novopay

2014, Bangalore
USD 10M

Ftcash

2015, Mumbai
USD 10M

Niki

2015, Bangalore
USD 9M

Payswiff

2013, Hyderabad
USD 8M

Kudi

2018, Lekki
USD 8M

Cashfree

2015, Bangalore
USD 6M

Bitmo

2015, San Diego
USD 6M

Finja

2015, Lahore
USD 6M

Go to Top

Detailed List

Nubank Logo

Disclosed
Funding

USD 820M

   

Nubank

2013 , Sao Paulo (Brazil)

Credit card issuer and digital bank

Investors: TCV, Tencent + 14 more

Last round: USD 400M, Series F, Jul 2019

Brex Logo

Disclosed
Funding

USD 315M

   

Brex

2017 , San Francisco (United States)

Corporate expense credit card solution

Investors: Credit Suisse, Kleiner Perkins + 16 more

Last round: USD 200M, Conventional Debt, Dec 2019

FraudMetrix Logo

Disclosed
Funding

USD 246M

   

FraudMetrix

2013 , Hangzhou (China)

AI-based risk management solutions

Investors: GF Securities, Zheshang Venture Capital + 18 more

Last round: Series D, Jun 2019

OVO Logo

Disclosed
Funding

-

   

OVO

2015 , Jakarta (Indonesia)

Mobile-based payment solution

Investors: Tokopedia, Grab

Last round: Series A, Mar 2019

EquensWorldline Logo

Disclosed
Funding

-

   

EquensWorldline

2016 , Utrecht (Netherlands)

Payment processsing and transactional service provider

Investors:

Last round: -

CRED Logo

Disclosed
Funding

USD 147M

   

CRED

2018 , Bangalore (India)

Rewards-based platform for credit card bill payments

Investors: Sequoia Capital, Ribbit Capital + 31 more

Last round: USD 120M, Series B, Aug 2019

Momo Logo

Disclosed
Funding

USD 134M

   

Momo

2013 , Ho Chi Minh City (Vietnam)

Mobile first payment service provider

Investors: Warburg Pincus, Goldman Sachs Investment Partners + 2 more

Last round: USD 100M, Series C, Jan 2019

Razorpay Logo

Disclosed
Funding

USD 107M

   

Razorpay

2014 , Bangalore (India)

Payment gateway solutions

Investors: Ribbit Capital, Tiger Global Management + 19 more

Last round: USD 75M, Series C, Jun 2019

PayIt Logo

Disclosed
Funding

USD 107M

   

PayIt

2013 , Kansas City (United States)

Mobile based payment platform for government agencies

Investors: Insight Venture Partners, Advantage Capital + 4 more

Last round: USD 100M, Series B, Mar 2019

Deserve Logo

Disclosed
Funding

USD 100M

   

Deserve

2013 , Menlo Park (United States)

Credit card provider

Investors: Goldman Sachs, Sallie Mae + 8 more

Last round: USD 50M, Series C, Nov 2019

BharatPe Logo

Disclosed
Funding

USD 82M

   

BharatPe

2017 , Bangalore (India)

QR code based payment app

Investors: Ribbit Capital, Steadview Capital + 21 more

Last round: USD 50M, Series B, Aug 2019

Soldo Logo

Disclosed
Funding

USD 82M

   

Soldo

2014 , London (United Kingdom)

Mobile app to track expenses along with Mastercard enabled card

Investors: Silicon Valley Bank, Battery Ventures + 20 more

Last round: Venture Debt, Jul 2019

Pleo Logo

Disclosed
Funding

USD 79M

   

Pleo

2015 , Copenhagen (Denmark), London (United Kingdom)

Corporate payment card for expense management

Investors: Stripes Group, Kinnevik + 5 more

Last round: USD 56M, Series B, May 2019

Curve Logo

Disclosed
Funding

USD 75M

   

Curve

2015 , London (United Kingdom)

Smart card for aggregating multiple cards

Investors: Gauss Ventures, CreditEase + 16 more

Last round: USD 6M, Series B, Sep 2019

SUNMI Logo

Disclosed
Funding

USD 61M

   

SUNMI

2013 , Shanghai (China)

Android PoS suite provider for merchants

Investors: Ant Financial, Xiaomi + 4 more

Last round: Series C, Jan 2019

Chainalysis Logo

Disclosed
Funding

USD 54M

   

Chainalysis

2014 , Manhattan (United States)

Blockchain based payment fraud prevention & compliance solutions

Investors: Mitsubishi UFJ Financial Group, Sozo Ventures + 9 more

Last round: USD 6M, Series B, Apr 2019

Niyo Solutions Logo

Disclosed
Funding

USD 49M

   

Niyo Solutions

2015 , Bangalore (India)

Mobile-banking solution for employee benefits management

Investors: Horizons Ventures, Tencent + 3 more

Last round: USD 35M, Series B, Jul 2019

Petal Logo

Disclosed
Funding

USD 48M

   

Petal

2016 , New York City (United States)

Alternative credit card

Investors: Jefferies, Valar Ventures + 34 more

Last round: USD 300M, Conventional Debt, Sep 2019

Kissht Logo

Disclosed
Funding

USD 43M

   

Kissht

2015 , Mumbai (India)

EMI-based purchase loans platform

Investors: BAC Acquisitions, Endiya Partners + 14 more

Last round: USD 7M, Conventional Debt, Jul 2019

Borrowell Logo

Disclosed
Funding

USD 34M

   

Borrowell

2014 , Toronto (Canada)

Credit monitoring and financial products comparison platform

Investors: WHITE STAR CAPITAL, Clocktower Technology Ventures + 17 more

Last round: Venture Debt, Jun 2019

Zelle Logo

Disclosed
Funding

-

   

Zelle

2016 , Phoenix (United States)

P2P mobile money transfer app

Investors:

Last round: -

Greenlight Logo

Disclosed
Funding

USD 82M

   

Greenlight

2014 , Atlanta (United States)

The debit card for kids that parents manage from their phones

Investors: Drive Capital, JPMorgan Chase + 14 more

Last round: USD 54M, Series B, Aug 2019

Yoyowallet Logo

Disclosed
Funding

USD 74M

   

Yoyowallet

2013 , London (United Kingdom)

QR code based mobile payment service provider & consumer behavior analysis

Investors: Hard Yaka, METRO GROUP + 11 more

Last round: USD 30M, Series B, Oct 2018

True Balance Logo

Disclosed
Funding

USD 65M

   

True Balance

2015 , Gurgaon (India)

Mobile app for checking mobile prepaid balance

Investors: NH Investment and Securities, IMM Investment + 20 more

Last round: USD 23M, Series C, Oct 2019

Flutterwave Logo

Disclosed
Funding

USD 64M

   

Flutterwave

2016 , San Francisco (United States)

Payment gateway API provider in Africa

Investors: Greycroft Partners, CRE Venture Capital + 28 more

Last round: USD 35M, Series B, Jan 2020

Sunbit Logo

Disclosed
Funding

USD 54M

   

Sunbit

2016 , Los Angeles (United States)

Payment technology devised for offline retailers

Investors: Zeev ventures, Chicago Ventures + 4 more

Last round: USD 12M, Series B, Sep 2019

Current Logo

Disclosed
Funding

USD 45M

   

Current

2015 , New York City (United States)

Mobile wallet app and debit card for kids

Investors: Wellington Management + 10 more

Last round: USD 20M, Series B, Oct 2019

Satispay Logo

Disclosed
Funding

USD 45M

   

Satispay

2013 , Milan (Italy)

Wallet for consumer payments

Investors: Copper Street Capital, Endeavor + 11 more

Last round: USD 12M, Series B, Jul 2018

Verse Logo

Disclosed
Funding

USD 41M

   

Verse

2015 , Barcelona (Spain)

Payment card and group payment solutions

Investors: Greycroft Partners, Expon Capital + 14 more

Last round: USD 8M, Series B, Jun 2019

Moka Logo

Disclosed
Funding

USD 40M

   

Moka

2014 , Jakarta (Indonesia)

mPOS software and hardware solutions for offline retailers

Investors: Sequoia Capital, SoftBank Ventures Korea + 8 more

Last round: USD 24M, Series B, Sep 2018

NS8 Logo

Disclosed
Funding

USD 35M

   

NS8

2016 , Herndon (United States)

Anti-botnet platform for user experience protection and abuse and fraud prevention

Investors: Edison Partners, Sorenson Capital + 9 more

Last round: USD 26M, Series A, Mar 2019

Modulr Finance Logo

Disclosed
Funding

USD 31M

   

Modulr Finance

2015 , London (United Kingdom)

B2B payment solutions

Investors: Frog Capital + 1 more

Last round: USD 12M, Grant (prize money), Aug 2019

iBanFirst Logo

Disclosed
Funding

USD 28M

   

iBanFirst

2013 , Paris (France)

Platform for cross-border transactions for businesses

Investors: Serena, Breega Capital + 2 more

Last round: USD 17M, Series B, Nov 2018

Kyash Logo

Disclosed
Funding

USD 26M

   

Kyash

2015 , Tokyo (Japan)

Payment cards solution provider

Investors: Goodwater Capital, Mitsubishi UFJ Capital + 8 more

Last round: USD 14M, Series B, Jul 2019

Yoco Logo

Disclosed
Funding

USD 23M

   

Yoco

2013 , Cape Town (South Africa)

Provider of mPOS solutions to offline businesses

Investors: FMO, Accion + 10 more

Last round: USD 16M, Series B, Sep 2018

PAYFAZZ Logo

Disclosed
Funding

USD 22M

   

PAYFAZZ

2016 , Jakarta (Indonesia)

Mobile wallet application for payments

Investors: DST Global + 5 more

Last round: USD 21M, Series A, Sep 2018

Slice Logo

Disclosed
Funding

USD 21M

   

Slice

2015 , Bangalore (India)

Credit card provider

Investors: Finup Group, Blume Ventures + 17 more

Last round: USD 3M, Series A, Sep 2019

Cardlay Logo

Disclosed
Funding

USD 19M

   

Cardlay

2016 , Odense (Denmark)

White label solutions for corporate cards

Investors: Seed Capital, SEB + 8 more

Last round: USD 10M, Series B, Nov 2019

Form³ Financial Cloud Logo

Disclosed
Funding

USD 18M

   

Form³ Financial Cloud

2016 , London (United Kingdom)

Cloud-based connectivity, payment processing, clearing and settlement services

Investors: Draper Esprit + 2 more

Last round: USD 6M, Grant (prize money), Jun 2019

Teampay Logo

Disclosed
Funding

USD 17M

   

Teampay

2016 , New York City (United States)

Virtual credit cards for business purchasing

Investors: Tribe Capital, Silicon Valley Bank + 11 more

Last round: USD 12M, Series A, Oct 2019

Paykey Logo

Disclosed
Funding

USD 16M

   

Paykey

2015 , Tel Aviv (Israel)

Technology to enable money transfer via messaging apps

Investors: MizMaa Ventures, SBI Holdings + 17 more

Last round: USD 10M, Series B, Oct 2017

PayRange Logo

Disclosed
Funding

USD 15M

   

PayRange

2013 , Portland (United States)

Mobile payments for vending machines.

Investors: Matrix Partners, GV + 3 more

Last round: USD 12M, Series A, Jun 2015

Verrency Logo

Disclosed
Funding

USD 14M

   

Verrency

2016 , Melbourne (Australia)

Payment solutions for banks

Investors: Plug and Play Tech Center, Alium Capital Management

Last round: USD 7M, Series A, Jun 2019

Silot Logo

Disclosed
Funding

USD 14M

   

Silot

2017 , Singapore, Beijing (China)

End-to-End Merchant Banking Platform

Investors: State Bank of India, Arbor Ventures + 6 more

Last round: USD 8M, Series A, Mar 2019

MoneyTap Logo

Disclosed
Funding

USD 12M

   

MoneyTap

2015 , Bangalore (India)

App-based credit line

Investors: Sequoia Capital, New Enterprise Associates + 3 more

Last round: USD 9M, Series A, Jun 2017

Paystack Logo

Disclosed
Funding

USD 12M

   

Paystack

2015 , San Francisco (United States)

Online payment gateway service provider

Investors: Stripe, Y Combinator + 20 more

Last round: USD 10M, Series A, Aug 2018

Assembly Logo

Disclosed
Funding

USD 12M

   

Assembly

2013 , Melbourne (Australia)

Escrow payments for marketplaces

Investors: Invest Victoria, Carsales + 6 more

Last round: Series A, Apr 2017

Baton Systems Logo

Disclosed
Funding

USD 12M

   

Baton Systems

2016 , Fremont (United States)

Post trade solution for merchants

Investors: Alsop Louie Partners, Commerce Ventures + 1 more

Last round: USD 12M, Series A, Aug 2019

Osper Logo

Disclosed
Funding

USD 11M

   

Osper

2013 , London (United Kingdom)

Mobile only banking for young people

Investors: Horizons Ventures, Index Ventures + 10 more

Last round: USD 10M, Series A, Jun 2014

Mezu Logo

Disclosed
Funding

USD 10M

   

Mezu

2017 , Cleveland (United States)

Mobile application for anonymous fund transfer

Investors: Draper Triangle, Jumpstart + 5 more

Last round: USD 10M, Series A, Dec 2017

Novopay Logo

Disclosed
Funding

USD 10M

   

Novopay

2014 , Bangalore (India)

Bank sponsored wallet

Investors: Khosla Labs, IDFC

Last round: USD 164K, Series A, Oct 2018

Ftcash Logo

Disclosed
Funding

USD 10M

   

Ftcash

2015 , Mumbai (India)

Mobile Payments platform for retailers

Investors: FMO, Accion + 11 more

Last round: USD 7M, Series A, May 2019

Niki Logo

Disclosed
Funding

USD 9M

   

Niki

2015 , Bangalore (India)

AI-based automated order taking app for concierge services

Investors: EMVC, Ratan Tata + 26 more

Last round: USD 3M, Series A, Nov 2019

Payswiff Logo

Disclosed
Funding

USD 8M

   

Payswiff

2013 , Hyderabad (India)

POS and mPOS solutions

Investors: True Global Ventures, Yadu + 50 more

Last round: USD 2M, Series A, Nov 2017

Kudi Logo

Disclosed
Funding

USD 8M

   

Kudi

2018 , Lekki (Nigeria)

App-based mobile wallet provider

Investors: Partech Partners, Michael Seibel + 7 more

Last round: USD 6M, Series A, Mar 2019

Cashfree Logo

Disclosed
Funding

USD 6M

   

Cashfree

2015 , Bangalore (India)

Payment gateway

Investors: Smile Gate Investment, Y Combinator + 5 more

Last round: USD 6M, Series A, Apr 2019

Bitmo Logo

Disclosed
Funding

USD 6M

   

Bitmo

2015 , San Diego (United States)

Mobile payment and reward points application

Investors: Everplus Capital, Longboard Capital + 5 more

Last round: USD 3M, Seed, Mar 2019

Finja Logo

Disclosed
Funding

USD 6M

   

Finja

2015 , Lahore (Pakistan)

Mobile wallet provider

Investors: Vostok Emerging Finance, Quona Capital + 3 more

Last round: USD 3M, Series A, Nov 2019


Go to Top

Selection Process

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.


That's all folks!! To know more, visit tracxn.com


In case of any comments or disagreements, you can write to us at pr@tracxn.com
© 2019 Tracxn Technologies. All rights reserved.