The pace of innovation is just one of the many reasons we love working in Fintech; yesterday’s idea can quickly turn into the billion-dollar unicorn of tomorrow.
There are already more than 300 Fintech unicorns, with four new companies making the cut this year and three previously public companies rejoining the list. With a combined value of $1.55 trillion and counting, there’s no doubt that these giants will continue to shape the Fintech industry.
But who will be next to join their exclusive club? Here’s the top five unicorns-in-waiting that we have our eyes on.
Founded in 2017, this software startup has rapidly emerged as a key player in Fintech.
On a mission to streamline the exchange of financial data between small businesses and financial institutions, Codat has experienced exponential growth. In just six years, their client base has grown to over 10,000 businesses worldwide.
Fueled by substantial funding, they’ve secured a total of $176.8 million from big names including JP Morgan Growth Equity Partners and Shopify which they’ve invested in enhancing their platform and hiring top talent.
As they continue to scale, Codat is perfectly poised to revolutionise how businesses interact with their financial data and become a business must-have.
Another 2017 startup, Clarity AI leads the way when it comes to sustainable finance.
Their values-led approach has clients and investors queuing out the door. They’ve secured over $80 million in funding, enabling the company to expand its operations, develop cutting-edge technology, and attract top-notch talent.
This year, their valuation has skyrocketed to an impressive $450 million. It’s a valuation that’s only set to rise alongside demand for ESG-driven solutions and a more responsible, ethical financial landscape.
SentiLink, an innovative identity verification startup, has rapidly established itself as a leading player in the cybersecurity industry.
Since 2016, it’s attracted widespread attention earning a place on Forbes’ Fintech 50 list and achieving a valuation of $430 million.
Their technology that enables businesses and financial institutions to detect and prevent fraud has been widely adopted. Securing over $85 million in funding, their 300 customers include other major Fintech players and seven of the US’s 15 largest banks.
As companies look to stay compliant and protect revenue through proactive risk management, we predict it won’t be long before SentiLink become a unicorn.
What happens when a former EY director focused on lending and credit analytics and the Global Head of Digital Lending at McKinsey team up? Abound.
The dynamic duo set about to revolutionise the way individuals access financial assistance with a little help from AI. Focusing on inclusion and responsible lending, Abound wanted to deliver a user-friendly interface with transparent lending options.
Hugely successful in terms of funding, they recently raised over £500 million which will be used to develop their B2B capabilities and grow their headcount.
Founders Dr Michelle He and Gerald Chappell predict their balance sheet will hit the $1 billion mark by 2025, but we think these two have the potential to exceed even their own expectations.
Calling Gen Z, your personal financial assistant is here: meet Cleo. Jargon free and powered by AI, this increasingly popular app enables users to take control of their personal finances and make more informed financial decisions.
Named one of the best money saving apps of 2023 by the Metro, the Cleo team have already secured $137.5 million in investments, $80 million of which was in June this year, which they plan to use to grow their team by almost 60%.
With their valuation now sitting at the $500 million mark – five times their 2020 valuation and huge potential for B2B integrations, Cleo is set to become the go-to money management tool of the digital banking age.
Creating unicorns
Achieving this kind of growth doesn’t happen on its own – it needs a great team, and having the right sales leaders in place is a critical hire for any Fintech startup.
We’re incredibly proud of the role Finiti Search has played in finding the right people to take startups from ideas to unicorns-in-waiting and love watching business grow into household names.
If you’re looking for the perfect person for an open role or want to chat more about shaping your future sales team, get in touch to find out more about Finiti Search and our talent network and unique approach.
