After reviewing some of the latest innovative technology start-ups, it is time to turn to the fintech sector. The industry offers a wide range of e
After reviewing some of the latest innovative technology start-ups, it is time to turn to the fintech sector.
The industry offers a wide range of emerging companies in various fintech categories like investing, banking, insurance, payments, money transfers and more.
Here are some of the start-ups worth watching this year:
TransferWise is a company that offers transparent money transfers without hidden fees, as Go Banking Rates (gobankingrates.com) wrote in a report.
“We are moving over £500 million every month globally, saving people like you £22m in hidden charges.”, as TransferWise wrote on their website.
The London-based company received Series D funding round of $26 million in May 2016. It is the last out of six funding rounds amounting to $116.37 million in funding from investors like Andreessen Horowitz, Valar Ventures, Seedcamp and IA Ventures, as the publication explained.
Robinhood is a service that helps users buy and sell US listed stocks and ETFs with zero commission fees.
“Since our December launch, hundreds of thousands of people have joined Robinhood, with 25% of them being first-time investors. Collectively, our community has saved over $12 million in commissions and transacted over $500 million through our platform. Robinhood for iPhone continues to top the Finance charts and our Apple Watch app is already receiving praise.”, as the company wrote in a blog post.
Founded in 2013, Robinhood received funding from 25 investors, raising $66 million in three rounds. According to Go Banking Rates, some of the leading investors include Index Ventures and New Enterprise Associates.
Clarity Money App
Clarity Money is using artificial intelligene (AI), machine learning and data science to help users anаlyse their spending, track bills and set up savings accounts, among others.
“After thousands of hours of research and development, we’ve developed a powerful and secure tool like no other. A service that will forever change the way you think about finances, savings and managing your money.”, as the company claims on their website.
In their Series A round of funding, Clarity Money received $3.5 million from investos like ff Venture Capital, Bessemer Venture Partners, Soros Fund Management and Sherpa Capital, as Go Banking Rates explained.
These are three of the promising new companies in the world of financial technology. However, there are many more to be included in that list. Stay tuned, because the topic is to be closely followed.