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1. TRACXN TOP BUSINESS MODELS REPORT
September 24, 2021
FINTECH

2. FinTech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Contents
FinTech Funding - Overview 3
Top Funded Business Models 4
One pagers 9
Appendix 59
2

3. FinTech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Funding in last 1 year
3
Payments $22.0B
Investment Tech $16.2B
Alternative Lending $15.4B
Banking Tech $14.9B
Finance & Accounting Tech $9.4B
Cryptocurrencies $8.6B
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
AU21 Capital
NGC
145
21
15
Early
Stage
Andreessen Horowitz
Coinbase
Y Combinator
27
23
23
Late
Stage
Tiger Global Management
Sequoia Capital
Ribbit Capital
41
32
23
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
United States (43%)
United Kingdom (12%)
India (6%)
Canada (4%)
Germany (4%)
France (3%)
Brazil (3%)
Others (24%)
$ Funding # Rounds
Robinhood
(2013, United States)
$3.4B - Series H
Klarna
(2005, Sweden)
$1.0B - Series H
Trade Republic
(2015, Germany)
$900M - Series C
FTX
(2018, The Bahamas)
$900M - Series B
SumUp
(2012, United Kingdom)
$895M - Series D
Revolut
(2015, United Kingdom)
$800M - Series E
Mollie
(2004, Netherlands)
$800M - Series C
insightsoftware
(2001, United States)
$800M - PE
Chime
(2013, United States)
$750M - Series G
Nubank
(2013, Brazil)
$750M - Series G
PhonePe
(2012, India)
$700M -
Unattributed
Sorare
(2018, France)
$680M - Series B

4. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Top Funded Business Models - last 1 year (1/5)
4
Rank Business Model $ Funding # Rounds Top Funding Round Details
1▲6 Discount Stock Brokers $4.5B 8 Robinhood | $3.4B | Series H Link
2▲6 Business Payments Solutions $3.6B 51 Stripe | $600M | Series H Link
3▲3 Internet First Point of Sale Financing $2.7B 33 Klarna | $1.0B | Series H Link
4▲62 POS Payment Terminals $2.2B 19 SumUp | $895M | Series D Link
5▼3
Internet First Retail Banks with Partner Bank's
License
$2.1B 59 Chime | $750M | Series G Link
6▲6 Digital Native Retail Banks $2.0B 13 Nubank | $750M | Series G Link
7▲7 Online Business Payments $1.9B 62 Mollie | $800M | Series C Link
8▼7 Digital Wallets $1.8B 64 PhonePe | $700M | Unattributed Link
9▲10 Cryptocurrencies Based Financial Services $1.8B 51 Circle | $440M | Series F Link
10▲83 Crypto Exchanges $1.7B 47 FTX | $900M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Top Funded Business Models - last 1 year (2/5)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11▼2 Digital Native Banks $1.7B 11 Revolut | $800M | Series E Link
12▲37 Corporate Travel & Expense Cards $1.5B 20 Brex | $425M | Series D Link
13▼2 Internet-First Property and Casualty Insurers $1.4B 24 Wefox | $650M | Series C Link
14▲6 KYC for Financial Institutions $1.4B 35 Trulioo | $394M | Series D Link
15▼5 Card Linked Digital Wallets $1.3B 16 PhonePe | $700M | Unattributed Link
16▲30 Internet First Corporate Credit Card Issuers $1.1B 18 Brex | $425M | Series D Link
17▲121 P2P Wallet Remittance $1.0B 18 Zepz | $292M | Series E Link
18▲76 Trade Management Software $1.0B 20 DriveWealth | $450M | Series D Link
19▲12 Internet First Residential Mortage Loans $1.0B 6 Better Mortgage | $500M | Series E Link
20▲5 Robo Advisors $986M 30 Scalable Capi.. | $183M | Series E Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Top Funded Business Models - last 1 year (3/5)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21▲131 Social Trading Platforms $954M 9 eToro | $650M | Series F Link
22▲5 International Business Payments $919M 6 Rapyd | $300M | Series D Link
23▲60 Crypto Trading Platforms $850M 45 Bitpanda | $263M | Series C Link
24▲50 Open Banking Aggregation APIs $823M 25 Plaid | $425M | Series D Link
25▲3 Payment Fraud Monitoring Solutions $785M 15 Trulioo | $394M | Series D Link
26▲123 Payment Transaction Monitoring $771M 12 Forter | $300M | Series F Link
27▲12 Payroll Management Solutions $771M 21 Papaya Global | $250M | Series D Link
28▲15 Internet First Business Loans Marketplace $736M 29 MarketFinance | $383M | Series C Link
29▲25 Banking Software Suite $736M 21 Zeta | $250M | Series C Link
30▼4
Internet First Banks for Businesses with Partner
Bank's License
$702M 29 Mercury | $120M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Top Funded Business Models - last 1 year (4/5)
7
Rank Business Model $ Funding # Rounds Top Funding Round Details
31▲6 Insurance Agency Management $685M 9 Wefox | $650M | Series C Link
32▼27 Internet First Lenders $665M 3 SoFi | $370M | Series G Link
33▼30 Internet First Health Insurers $637M 16 Alan | $220M | Series D Link
34▲38 Loan Life Cycle Management $634M 19 Blend | $300M | Series G Link
35▲10
Portfolio Management Solution for Wealth
Managers
$630M 21 iCapital | $440M | Series D Link
36▲157 Financial Planning & Analysis Software $621M 22 insightsoftware | $800M | PE Link
37▼7 B2B Remittance $607M 12 Airwallex | $200M | Series E Link
38▼34 Insurance Comparison Platforms $606M 28 The Zebra | $150M | Series D Link
39▼17 Open Banking API Providers $596M 42 Solarisbank | $224M | Series D Link
40▲2 Accounts Payables Payment Solutions $587M 8 Melio Payments | $250M | Series D Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Top Funded Business Models - last 1 year (5/5)
8
Rank Business Model $ Funding # Rounds Top Funding Round Details
41▼1 Cap Table Management $556M 15 Carta | $500M | Series G Link
42▲75 Internet First Revenue Based Financing $532M 19 Clearco | $215M | Series D Link
43▼5 Payment Card Issuer Processors $525M 13 PPRO | $270M | Series D Link
44▲18 Employee Expense Management $512M 13 Divvy | $165M | Series D Link
45▼30 QR Code Payments $473M 4 BharatPe | $370M | Series E Link
46▼12 Account Linked Expense Aggregation $471M 13 Toss | $410M | Series F Link
47▼31 Internet First Business Loans $468M 18 SellersFunding | $167M | Series A Link
48▲4 Digital Native Business Banks $458M 2 Judo Bank | $284M | Series D Link
49▲18 Open Banking APIs for Payments $456M 26 TrueLayer | $130M | Series E Link
50▲5 Internet First NFC Prepaid Cards $456M 4 Uala | $350M | Series D Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Discount Stock Brokers
01
9
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$4.5B(▲187%)
8(▼27.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
17
$8.6B
62
16
229
10
Investment Tech (FIS)
(# Cos: 18369 | $52.1B)
Online Trading Platforms (Wealthsimple)
(# Cos: 7798 | $21.6B)
Stocks (Fidelity Investments)
(# Cos: 1833 | $14.7B)
Regular Trading (SoFi)
(# Cos: 1420 | $12.9B)
Brokers (Ally)
(# Cos: 558 | $9.5B)
Discount (Robinhood)
(# Cos: 229 | $8.6B)
Robinhood
(2013, United States, $5.7B)
Ally
(1919, United States, $1.3B)
Freetrade
(2015, United Kingdom, $112M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Robinhood (2013, United States)
$3.4B - Series H - Jan 2021
Trade Republic (2015, Germany)
$900M - Series C - May 2021
BUX (2014, Netherlands)
$80.0M - Series C - Apr 2021
Freetrade (2015, United Kingdom)
$69.0M - Series B - Mar 2021
Avenue (2002, United States)
$28.9M - Series A - Aug 2021
Trading212 (2004, United Kingdom)
$19.1M - Series A - Aug 2021
Lightyear (2008, United Kingdom)
$8.5M - Seed - Sep 2021
View all 8 Funding Rounds on Tracxn Platform

10. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Stripe (2010, United States)
$600M - Series H - Mar 2021
SaltPay (2019, Portugal)
$500M - Series C - May 2021
Checkout.com (2012, United Kingdom)
$450M - Series C - Jan 2021
EBANX (2012, Brazil)
$400M - Series B - Jun 2021
OPay (2018, Nigeria)
$400M - Series C - Aug 2021
VNPAY (2007, Vietnam)
$250M - Series B - Aug 2021
Flutterwave (2016, United States)
$170M - Series C - Mar 2021
View all 51 Funding Rounds on Tracxn Platform
Business Payments Solutions
02
10
Back to index
Payments (Grab)
(# Cos: 12436 | $116B)
Business Payments (PayPal)
(# Cos: 6810 | $30.3B)
Diversified (Square)
(# Cos: 872 | $8.8B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$3.6B(▲130%)
51(▲113%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
81
$8.8B
213
21
872
40
Square
(2009, United States, $520M)
FIS
(1968, United States)
Checkout.com
(2012, United Kingdom, $830M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

11. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Point of Sale Financing
03
11
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.7B(▲62.4%)
33(▲22.2%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
14
$7.0B
85
9
175
30
Alternative Lending (Credit Karma)
(# Cos: 10129 | $71.2B)
Online Lenders (SoFi)
(# Cos: 7186 | $63.0B)
Consumer Loans (Afterpay)
(# Cos: 3712 | $32.2B)
Point of Sale Financing (Klarna)
(# Cos: 366 | $10.9B)
Direct Lender (Affirm)
(# Cos: 175 | $7.0B)
Affirm
(2012, United States, $1.2B)
Klarna
(2005, Sweden, $3.3B)
Afterpay
(2014, Australia, $35.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Klarna (2005, Sweden)
$1.0B - Series H - Mar 2021
Klarna (2005, Sweden)
$639M - Series H - Jun 2021
Scalapay (2019, Italy)
$155M - Series A - Sep 2021
Sunbit (2016, United States)
$130M - Series C - May 2021
Paidy (2014, Japan)
$120M - Series D - Mar 2021
Zilch (2018, United Kingdom)
$110M - Series B - Jul 2021
Tamara (2012, Saudi Arabia)
$110M - Series A - Apr 2021
View all 33 Funding Rounds on Tracxn Platform

12. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
POS Payment Terminals
04
12
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.2B(▲1677%)
19(▲58.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
79
$5.6B
216
16
870
35
Payments (Square)
(# Cos: 12436 | $116B)
Business Payments (PayPal)
(# Cos: 6810 | $30.3B)
POS Payments (SumUp)
(# Cos: 1222 | $6.0B)
POS Payment Terminal (Pine Labs)
(# Cos: 870 | $5.6B)
Pine Labs
(1998, India, $1.4B)
SumUp
(2011, United States, $66.1M)
Poynt
(2013, United States, $128M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
SumUp (2012, United Kingdom)
$895M - Series D - Mar 2021
Pine Labs (1998, India)
$600M - Series E - Jul 2021
Pine Labs (1998, India)
$285M - Series D - May 2021
Clip (2012, Mexico)
$250M - Series D - Jun 2021
Pine Labs (1998, India)
$100M - Series E - Sep 2021
NETSTARS (2008, Japan)
$66.0M - Series A - Apr 2021
Pine Labs (1998, India)
$46.5M - Series D - Dec 2020
View all 19 Funding Rounds on Tracxn Platform

13. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Retail Banks with Partner
Bank's License
05
13
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.1B(▼1.8%)
59(▲7.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
17
$5.5B
155
1
446
54
Banking Tech (Fiserv)
(# Cos: 6100 | $47.9B)
Internet First Banks (Nubank)
(# Cos: 1137 | $20.7B)
Through Bank Partnerships (Chime)
(# Cos: 793 | $7.6B)
Retail Banking (Stash)
(# Cos: 446 | $5.5B)
Stash
(2015, United States, $448M)
Chime
(2013, United States, $2.1B)
Aspiration
(2013, United States, $205M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Chime (2013, United States)
$750M - Series G - Aug 2021
Current (2015, United States)
$220M - Series D - Apr 2021
Current (2015, United States)
$131M - Series C - Nov 2020
Stash (2015, United States)
$130M - Series G - Feb 2021
Albert (2015, United States)
$100M - Series C - Jan 2021
Step (2014, United States)
$100M - Series C - Apr 2021
Vivid (2019, Germany)
$73.0M - Series B - Apr 2021
View all 59 Funding Rounds on Tracxn Platform

14. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Digital Native Retail Banks
06
14
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.0B(▲153%)
13(▲8.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$5.6B
32
3
89
11
Banking Tech (Fiserv)
(# Cos: 6100 | $47.9B)
Internet First Banks (Starling Bank)
(# Cos: 1137 | $20.7B)
Digital Native Banks (Ally)
(# Cos: 203 | $12.9B)
Retail Banking (Nubank)
(# Cos: 89 | $5.6B)
Nubank
(2013, Brazil, $2.3B)
Ally
(1919, United States, $1.3B)
Varo
(2015, United States, $991M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Nubank (2013, Brazil)
$750M - Series G - Jun 2021
Varo (2015, United States)
$510M - Series E - Sep 2021
Nubank (2013, Brazil)
$400M - Series G - Jan 2021
TymeBank (2012, South Africa)
$110M - Series B - Feb 2021
Agibank (1999, Brazil)
$74.5M - PE - Feb 2021
Varo (2015, United States)
$63.0M - Series D - Feb 2021
Kuda (2017, Nigeria)
$55.0M - Series B - Aug 2021
View all 13 Funding Rounds on Tracxn Platform

15. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Mollie (2004, Netherlands)
$800M - Series C - Jun 2021
Rapyd (2016, United States)
$300M - Series D - Jan 2021
Rapyd (2016, United States)
$300M - Series E - Aug 2021
Airwallex (2015, Australia)
$200M - Series E - Sep 2021
Voyager Innovat.. (2013, Philippines)
$167M - Series E - Jun 2021
Razorpay (2014, India)
$160M - Series E - Apr 2021
d-Local (2013, United States)
$150M - Series D - Apr 2021
View all 62 Funding Rounds on Tracxn Platform
Online Business Payments
07
15
Back to index
Payments (Grab)
(# Cos: 12436 | $116B)
Business Payments (Square)
(# Cos: 6810 | $30.3B)
Online Payments (PayPal)
(# Cos: 2549 | $7.8B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.9B(▲138%)
62(▲44.2%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
195
$7.8B
467
22
2549
64
PayPal
(1998, United States, $190M)
Razorpay
(2014, India, $367M)
Payoneer
(2005, United States, $269M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

16. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
PhonePe (2012, India)
$700M - Unattributed - Dec 2020
Toss (2015, South Korea)
$410M - Series F - Jun 2021
Grab (2012, Singapore)
$300M - Series H - Jan 2021
Gojek (2010, Indonesia)
$300M - Series H - May 2021
stc pay (2018, Saudi Arabia)
$200M - Series D - Nov 2020
GCash (2015, Philippines)
$175M - Series D - Jan 2021
Mynt (2015, Philippines)
$175M - Series A - Jan 2021
View all 64 Funding Rounds on Tracxn Platform
Digital Wallets
08
16
Back to index
Payments (PayPal)
(# Cos: 12436 | $116B)
Consumer Payments (PhonePe)
(# Cos: 4039 | $69.3B)
Wallets (Grab)
(# Cos: 1422 | $60.0B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.8B(▼63.9%)
64(▲36.2%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
53
$60.0B
268
8
1422
52
Grab
(2012, Singapore, $10.0B)
PhonePe
(2012, India, $700M)
Gojek
(2010, Indonesia, $4.9B)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

17. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Circle (2013, United States)
$440M - Series F - May 2021
BlockFi (2017, United States)
$350M - Series D - Mar 2021
Fireblocks (2018, United States)
$310M - Series D - Jul 2021
Blockchain.com (2011, Luxembourg)
$300M - Series C - Mar 2021
Fireblocks (2018, United States)
$133M - Series C - Mar 2021
Blockchain.com (2011, Luxembourg)
$120M - Series C - Feb 2021
Amber Group (2017, China)
$100M - Series B - Jun 2021
View all 51 Funding Rounds on Tracxn Platform
Cryptocurrencies Based Financial
Services
09
17
Back to index
Cryptocurrencies (Bitso)
(# Cos: 15910 | $15.9B)
Financial Services (FTX)
(# Cos: 10829 | $11.8B)
Diversified (Coinbase)
(# Cos: 735 | $4.1B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.8B(▲273%)
51(▲183%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
11
$4.1B
152
4
735
32
Coinbase
(2012, United States, $547M)
Blockchain.com
(2011, Luxembourg, $590M)
Coins.ph
(2014, Philippines, $10.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

18. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Crypto Exchanges
10
18
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.7B(▲2192%)
47(▲135%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
43
$2.2B
268
-
3987
47
Cryptocurrencies (Uphold)
(# Cos: 15912 | $15.9B)
Financial Services (Coinbase)
(# Cos: 10830 | $11.8B)
Investment Industry (Bitso)
(# Cos: 8059 | $5.2B)
Crypto Exchanges (FTX)
(# Cos: 3987 | $2.2B)
FTX
(2018, The Bahamas, $908M)
Bitso
(2014, Mexico, $331M)
Huobi
(2013, China, $9.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
FTX (2018, The Bahamas)
$900M - Series B - Jul 2021
Bitso (2014, Mexico)
$250M - Series C - May 2021
Mercado Bitcoin (2013, Brazil)
$200M - Series B - Jul 2021
CoinDCX (2018, India)
$90.0M - Series C - Jun 2021
Bitso (2014, Mexico)
$62.0M - Series B - Dec 2020
Zipmex (2018, Singapore)
$41.0M - Series B - Aug 2021
Mercado Bitcoin (2013, Brazil)
$37.6M - Series A - Jan 2021
View all 47 Funding Rounds on Tracxn Platform

19. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Digital Native Banks
11
19
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.7B(▲39.6%)
11(▼8.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$5.9B
26
3
89
10
Banking Tech (Fiserv)
(# Cos: 6100 | $47.9B)
Internet First Banks (Ally)
(# Cos: 1137 | $20.7B)
Digital Native Banks (Nubank)
(# Cos: 203 | $12.9B)
Diversified (Starling Bank)
(# Cos: 89 | $5.9B)
Starling Bank
(2014, United Kingdom, $852M)
Revolut
(2015, United Kingdom, $2.1B)
Monzo
(2015, United Kingdom, $723M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Revolut (2015, United Kingdom)
$800M - Series E - Jul 2021
Starling Bank (2014, United Kingdom)
$376M - Series D - Mar 2021
Bunq (2013, Netherlands)
$231M - Series A - Jun 2021
Starling Bank (2014, United Kingdom)
$69.2M - Series D - Apr 2021
Monzo (2015, United Kingdom)
$68.7M - Series G - Feb 2021
Atom Bank (2014, United Kingdom)
$55.0M - Series D - Apr 2021
Starling Bank (2014, United Kingdom)
$48.9M - Series D - Jun 2021
View all 11 Funding Rounds on Tracxn Platform

20. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Corporate Travel & Expense Cards
12
20
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.5B(▲716%)
20(▲66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
10
$2.2B
40
1
91
13
Finance & Accounting Tech (Intuit)
(# Cos: 10318 | $29.4B)
Accounting Solutions (Fiserv)
(# Cos: 6932 | $19.4B)
Procure to Pay (FLEETCOR)
(# Cos: 1004 | $7.7B)
Travel & Expense (Brex)
(# Cos: 445 | $3.6B)
Card Solutions (Ramp)
(# Cos: 91 | $2.2B)
Ramp
(2006, United States, $470M)
Brex
(2017, United States, $857M)
Wright Express
(1983, United States)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Brex (2017, United States)
$425M - Series D - Apr 2021
Ramp (2006, United States)
$300M - Series C - Aug 2021
Soldo (2014, United Kingdom)
$180M - Series C - Jul 2021
Pleo (2015, Denmark)
$150M - Series C - Jun 2021
Spendesk (2015, France)
$118M - Series C - Jul 2021
Ramp (2006, United States)
$115M - Series B - Apr 2021
Spenmo (2019, Singapore)
$34.0M - Series A - Sep 2021
View all 20 Funding Rounds on Tracxn Platform

21. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet-First Property and Casualty
Insurers
13
21
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.4B(▲42.2%)
24(▲41.2%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$4.3B
50
2
107
26
Internet First Insurance Platforms (Borrowell)
(# Cos: 3202 | $30.2B)
Internet First Insurers (Zego)
(# Cos: 996 | $19.2B)
P&C (Acko)
(# Cos: 693 | $9.1B)
Diversified (Coalition)
(# Cos: 107 | $4.3B)
Coalition
(2017, United States, $315M)
Wefox
(2015, Germany, $1.0B)
Luko
(2016, France, $84.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Wefox (2015, Germany)
$650M - Series C - Jun 2021
Next Insurance (2016, United States)
$250M - Series D - Mar 2021
Coalition (2017, United States)
$175M - Series D - Mar 2021
Pie Insurance (2017, United States)
$118M - Series C - Mar 2021
Sure (2013, United States)
$100M - Series C - Sep 2021
Luko (2016, France)
$60.6M - Series B - Dec 2020
Branch (2017, United States)
$50.0M - Series B - Jun 2021
View all 24 Funding Rounds on Tracxn Platform

22. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
KYC for Financial Institutions
14
22
Back to index
RegTech (Jumio)
(# Cos: 2437 | $14.0B)
KYC (IDnow)
(# Cos: 673 | $3.3B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.4B(▲233%)
35(▼7.9%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
51
$3.3B
226
9
673
47
IDnow
(2014, Germany, $40.0M)
Jumio
(2010, United States, $196M)
Onfido
(2012, United Kingdom, $242M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Trulioo (2011, Canada)
$394M - Series D - Jun 2021
Advance (2015, China)
$200M - Series D - Sep 2021
Jumio (2010, United States)
$150M - Series D - Mar 2021
Unico (2007, Brazil)
$121M - Series C - Aug 2021
TYME (2012, South Africa)
$110M - Series B - Feb 2021
Socure (2012, United States)
$100M - Series D - Mar 2021
Alloy (1999, United States)
$100M - Series C - Sep 2021
View all 35 Funding Rounds on Tracxn Platform

23. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Card Linked Digital Wallets
15
23
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.3B(▲17.8%)
16(▲45.5%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
11
$11.4B
68
4
285
14
Payments (PayPal)
(# Cos: 12436 | $116B)
Consumer Payments (Borrowell)
(# Cos: 4039 | $69.3B)
Wallets (PhonePe)
(# Cos: 1422 | $60.0B)
Card Linked (Grab)
(# Cos: 285 | $11.4B)
Grab
(2012, Singapore, $10.0B)
PhonePe
(2012, India, $700M)
Zip
(2013, Australia)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
PhonePe (2012, India)
$700M - Unattributed - Dec 2020
Grab (2012, Singapore)
$300M - Series H - Jan 2021
GCash (2015, Philippines)
$175M - Series D - Jan 2021
Lydia (2013, France)
$86.0M - Series B - Dec 2020
RecargaPay (2010, Brazil)
$70.0M - Series C - Feb 2021
TAG (2020, Pakistan)
$5.5M - Seed - May 2021
Glint (2015, United Kingdom)
$3.3M - Series A - Nov 2020
View all 16 Funding Rounds on Tracxn Platform

24. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Corporate Credit Card
Issuers
16
24
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.1B(▲458%)
18(▲157%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$1.8B
21
-
45
14
Payments (PayPal)
(# Cos: 12436 | $116B)
Consumer Payments (Grab)
(# Cos: 4039 | $69.3B)
Payment Cards (Curve)
(# Cos: 1166 | $6.7B)
Credit Cards (Stori)
(# Cos: 202 | $3.3B)
Corporate Cards (Ramp)
(# Cos: 45 | $1.8B)
Ramp
(2006, United States, $470M)
Brex
(2017, United States, $857M)
Pleo
(2015, Denmark, $234M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Brex (2017, United States)
$425M - Series D - Apr 2021
Ramp (2006, United States)
$300M - Series C - Aug 2021
Pleo (2015, Denmark)
$150M - Series C - Jun 2021
Ramp (2006, United States)
$115M - Series B - Apr 2021
Tribal Credit (2019, United States)
$34.3M - Series A - Apr 2021
Ramp (2006, United States)
$31.9M - Series B - Dec 2020
Clara (2019, Mexico)
$30.0M - Series A - May 2021
View all 18 Funding Rounds on Tracxn Platform

25. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
P2P Wallet Remittance
17
25
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.0B(▲2967%)
18(▲80%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$1.5B
66
-
311
17
Remittance (WorldRemit)
(# Cos: 1738 | $8.5B)
Internet First Platforms (Payoneer)
(# Cos: 1403 | $6.9B)
P2P Remittance (Remitly)
(# Cos: 987 | $4.9B)
Wallet Transfer (Uphold)
(# Cos: 311 | $1.5B)
Uphold
(2013, United States, $73.4M)
Wave Systems
(2014, United States, $258M)
bKash
(2010, Bangladesh, $11.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Zepz (2010, United Kingdom)
$292M - Series E - Aug 2021
Wave Systems (2014, United States)
$248M - Series A - Sep 2021
Mynt (2015, Philippines)
$175M - Series A - Jan 2021
PaySend (2015, Malta)
$125M - Series B - May 2021
Chipper Cash (2016, United States)
$100M - Series C - May 2021
Chipper Cash (2016, United States)
$30.0M - Series B - Nov 2020
Valora (2020, Canada)
$20.0M - Series A - Jul 2021
View all 18 Funding Rounds on Tracxn Platform

26. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Trade Management Software
18
26
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.0B(▲1283%)
20(▲66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
35
$1.8B
86
6
278
19
Investment Tech (Robinhood)
(# Cos: 18369 | $52.1B)
Capital Market IT (Vestmark)
(# Cos: 1103 | $5.1B)
Trade Management (Capitolis)
(# Cos: 1044 | $4.8B)
Suite (FIS)
(# Cos: 278 | $1.8B)
FIS
(1968, United States)
Capitolis
(2016, United States, $173M)
Vestmark
(2001, United States, $64.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
DriveWealth (2012, United States)
$450M - Series D - Aug 2021
Enfusion (1997, United States)
$150M - Series D - Jan 2021
M-DAQ (2010, Singapore)
$148M - Series D - Aug 2021
Capitolis (2016, United States)
$90.0M - Series C - Mar 2021
DriveWealth (2012, United States)
$56.7M - Series C - Oct 2020
Genesis (2012, United Kingdom)
$45.0M - Series B - Mar 2021
FIA Tech (2007, United States)
$44.0M - Series C - Jun 2021
View all 20 Funding Rounds on Tracxn Platform

27. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Residential Mortage Loans
19
27
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.0B(▲238%)
6(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$1.9B
18
-
72
6
Alternative Lending (SoFi)
(# Cos: 10131 | $71.2B)
Online Lenders (Affirm)
(# Cos: 7188 | $63.0B)
Mortgages (Landbay)
(# Cos: 627 | $4.5B)
Residential (Figure)
(# Cos: 330 | $3.3B)
Direct Lender (Better Mortgage)
(# Cos: 72 | $1.9B)
Better Mortgage
(2016, United States, $980M)
Figure
(2018, United States, $428M)
Athena
(2017, Australia, $200M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Better Mortgage (2016, United States)
$500M - Series E - Apr 2021
Better Mortgage (2016, United States)
$200M - Series D - Nov 2020
Figure (2018, United States)
$200M - Series D - May 2021
Athena (2017, Australia)
$90.0M - Series D - May 2021
EHFL (2017, India)
$15.0M - Series A - Jun 2021
Accept.inc (2019, United States)
$12.0M - Series B - Jun 2021

28. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Robo Advisors
20
28
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$986M(▲174%)
30(▲36.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
25
$2.7B
128
1
331
31
Investment Tech (Robinhood)
(# Cos: 18369 | $52.1B)
Wealth Management Platforms (Acorns)
(# Cos: 3678 | $10.3B)
Robo Advisors (Wealthfront)
(# Cos: 462 | $4.0B)
Horizontal (Stash)
(# Cos: 331 | $2.7B)
Stash
(2015, United States, $448M)
Wealthfront
(2008, United States, $205M)
Nutmeg
(2012, United Kingdom, $159M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Scalable Capital (2014, Germany)
$183M - Series E - Jun 2021
M1 Finance (2015, United States)
$150M - Series E - Jul 2021
Stash (2015, United States)
$130M - Series G - Feb 2021
LIQID (2015, Germany)
$104M - Series D - Jul 2021
M1 Finance (2015, United States)
$75.0M - Series D - Mar 2021
Bibit (2016, Indonesia)
$65.0M - Series B - May 2021
Titan (1991, United States)
$58.0M - Series B - Jul 2021
View all 30 Funding Rounds on Tracxn Platform

29. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Social Trading Platforms
21
29
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$954M(▲3608%)
9(▲80%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$1.2B
38
1
145
6
Investment Tech (Ally)
(# Cos: 18369 | $52.1B)
Online Trading Platforms (SoFi)
(# Cos: 7798 | $21.6B)
Stocks (Robinhood)
(# Cos: 1833 | $14.7B)
Social Trading (eToro)
(# Cos: 145 | $1.2B)
eToro
(2007, United Kingdom, $823M)
Stockbit
(2012, Indonesia)
Ayondo
(2008, Germany, $19.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
eToro (2007, United Kingdom)
$650M - Series F - Mar 2021
Public (2017, United States)
$220M - Series D - Feb 2021
Public (2017, United States)
$65.0M - Series C - Dec 2020
Shares (2021, France)
$10.0M - Seed - Aug 2021
StockGro (2019, India)
$5.0M - Seed - Jun 2021
Finary (2020, United States)
$3.2M - Seed - Apr 2021
Iris (2020, United States)
$231K - Seed - Jul 2021
View all 9 Funding Rounds on Tracxn Platform

30. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
International Business Payments
22
30
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$919M(▲172%)
6(▼14.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$2.1B
27
-
81
11
Payments (Grab)
(# Cos: 12436 | $116B)
Business Payments (Square)
(# Cos: 6810 | $30.3B)
Online Payments (PayPal)
(# Cos: 2549 | $7.8B)
International (Payoneer)
(# Cos: 81 | $2.1B)
Payoneer
(2005, United States, $269M)
Airwallex
(2015, Australia, $702M)
Ebury
(2009, United Kingdom, $119M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Rapyd (2016, United States)
$300M - Series D - Jan 2021
Rapyd (2016, United States)
$300M - Series E - Aug 2021
Airwallex (2015, Australia)
$200M - Series E - Sep 2021
Airwallex (2015, Australia)
$100M - Series D - Mar 2021
Currenxie (2014, China)
$10.0M - Series A - Aug 2021
Pawapay (2020, United Kingdom)
$9.0M - Seed - Aug 2021

31. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Crypto Trading Platforms
23
31
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$850M(▲827%)
45(▲125%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
20
$1.8B
159
1
1841
27
Cryptocurrencies (Bitso)
(# Cos: 15912 | $15.9B)
Financial Services (Coinbase)
(# Cos: 10830 | $11.8B)
Investment Industry (FTX)
(# Cos: 8059 | $5.2B)
Online Trading Platforms (Abra)
(# Cos: 2775 | $2.0B)
Regular Trading (CoinSwitch)
(# Cos: 1841 | $1.8B)
CoinSwitch
(2017, India, $41.5M)
Abra
(2014, United States, $90.0M)
Kraken
(2011, United States, $19.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Bitpanda (2014, Austria)
$263M - Series C - Aug 2021
FalconX (2018, Malta)
$210M - Series C - Aug 2021
Bitpanda (2014, Austria)
$170M - Series B - Mar 2021
dYdX (2017, United States)
$65.0M - Series C - Jun 2021
Coinsquare (2014, Canada)
$56.4M - Series C - Feb 2021
Abra (2014, United States)
$55.0M - Series C - Sep 2021
Bitpanda (2014, Austria)
$52.0M - Series A - Sep 2020
View all 45 Funding Rounds on Tracxn Platform

32. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Plaid (2013, United States)
$425M - Series D - Mar 2021
TrueLayer (2016, United Kingdom)
$130M - Series E - Sep 2021
TrueLayer (2016, United Kingdom)
$70.0M - Series D - Apr 2021
Orum (2019, United States)
$56.0M - Series B - Jun 2021
Belvo (2019, Spain)
$43.0M - Series A - Jun 2021
Orum (2019, United States)
$21.0M - Series A - Apr 2021
Moneyhub Ent.. (2011, United Kingdom)
$18.0M - Angel - Jul 2021
View all 25 Funding Rounds on Tracxn Platform
Open Banking Aggregation APIs
24
32
Back to index
Banking Tech (Nubank)
(# Cos: 6100 | $47.9B)
Open Banking (Tink)
(# Cos: 450 | $5.0B)
Aggregation APIs (Plaid)
(# Cos: 185 | $1.6B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$823M(▲646%)
25(▲31.6%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
18
$1.6B
69
1
185
24
Plaid
(2013, United States, $734M)
Yodlee
(1999, United States, $84.3M)
TrueLayer
(2016, United Kingdom, $273M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

33. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Payment Fraud Monitoring Solutions
25
33
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$785M(▲140%)
15(▲7.1%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
43
$3.1B
116
3
267
28
Payments (PayPal)
(# Cos: 12436 | $116B)
Enablers (Fiserv)
(# Cos: 1572 | $16.1B)
Payment Security (Jumio)
(# Cos: 442 | $8.8B)
Payment Fraud Detection
(Riskified)
(# Cos: 267 | $3.1B)
Riskified
(2012, United States, $229M)
Trulioo
(2011, Canada, $477M)
Feedzai
(2009, United Kingdom, $282M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Trulioo (2011, Canada)
$394M - Series D - Jun 2021
Forter (2013, United States)
$300M - Series F - May 2021
Feedzai (2009, United Kingdom)
$200M - Series D - Mar 2021
Forter (2013, United States)
$125M - Series E - Nov 2020
Arkose Labs (2013, United States)
$70.0M - Series C - May 2021
Sift (2011, United States)
$50.0M - Series D - Apr 2021
NetGuardians (2007, Switzerland)
$19.2M - Series D - Dec 2020
View all 15 Funding Rounds on Tracxn Platform

34. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Payment Transaction Monitoring
26
34
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$771M(▲2768%)
12(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
30
$1.9B
77
2
201
20
RegTech (IDnow)
(# Cos: 2437 | $14.0B)
Fraud Detection (Riskified)
(# Cos: 575 | $6.2B)
Transaction Monitoring (Featurespace)
(# Cos: 499 | $4.9B)
Industry Specific (Elliptic)
(# Cos: 262 | $2.6B)
Payments (Simplex)
(# Cos: 201 | $1.9B)
Simplex
(2014, Israel, $19.0M)
Signifyd
(2011, United States, $394M)
Emailage
(2012, United States, $69.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Forter (2013, United States)
$300M - Series F - May 2021
Signifyd (2011, United States)
$205M - Series E - Apr 2021
Forter (2013, United States)
$125M - Series E - Nov 2020
Arkose Labs (2013, United States)
$70.0M - Series C - May 2021
Sift (2011, United States)
$50.0M - Series D - Apr 2021
Seon (2015, Hungary)
$12.0M - Series A - Mar 2021
nSure.ai (2019, Israel)
$6.8M - Seed - Jun 2021
View all 12 Funding Rounds on Tracxn Platform

35. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Payroll Management Solutions
27
35
Back to index
Finance & Accounting Tech (Fiserv)
(# Cos: 10318 | $29.4B)
Payroll Management (Paylocity)
(# Cos: 487 | $2.4B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$771M(▲259%)
21(▲23.5%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
39
$2.4B
98
5
487
25
Paylocity
(1997, United States, $37.3M)
Zenefits
(2013, United States, $598M)
Edenred
(2010, France)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Papaya Global (2016, United States)
$250M - Series D - Sep 2021
Deel (2018, United States)
$156M - Series C - Apr 2021
PayFit (2016, France)
$107M - Series D - Mar 2021
Papaya Global (2016, United States)
$100M - Series C - Mar 2021
CloudPay (1996, United Kingdom)
$58.0M - Series D - Aug 2021
Immedis (1996, Ireland)
$50.0M - PE - Dec 2020
Papaya Global (2016, United States)
$40.0M - Series B - Sep 2020
View all 21 Funding Rounds on Tracxn Platform

36. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Business Loans
Marketplace
28
36
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$736M(▲260%)
29(▲7.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
11
$2.8B
127
2
443
40
Alternative Lending (SoFi)
(# Cos: 10131 | $71.2B)
Online Lenders (Affirm)
(# Cos: 7188 | $63.0B)
Business Loans (OfBusiness)
(# Cos: 2097 | $13.6B)
Diversified (Fundbox)
(# Cos: 619 | $4.9B)
Marketplace (Funding Circle)
(# Cos: 443 | $2.8B)
Funding Circle
(2010, United States, $373M)
Kredx
(2015, India, $33.0M)
ZipLoan
(2015, India, $19.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
MarketFinance (2011, United Kingdom)
$383M - Series C - Sep 2021
ThinCats (2010, United Kingdom)
$226M - Series D - Jun 2021
Outfund (2020, United Kingdom)
$49.4M - Seed - Dec 2020
Validus (2015, Singapore)
$37.5M - Series C - May 2021
Northmill (2006, Sweden)
$30.0M - Series B - Feb 2021
Capify AUS (2008, Australia)
$14.0M - Series B - Sep 2020
Butn (2018, Australia)
$12.5M - Series B - Apr 2021
View all 29 Funding Rounds on Tracxn Platform

37. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Banking Software Suite
29
37
Back to index
Banking Tech (Nubank)
(# Cos: 6100 | $47.9B)
Banking Software Suite (Fiserv)
(# Cos: 523 | $2.6B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$736M(▲375%)
21(▲23.5%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
30
$2.6B
116
23
523
20
Fiserv
(1984, United States)
FIS
(1968, United States)
NCR
(1884, United States, $820M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Zeta (2015, India)
$250M - Series C - May 2021
10x (2016, United Kingdom)
$187M - Series C - Jun 2021
TYME (2012, South Africa)
$110M - Series B - Feb 2021
FintechOS (2017, United Kingdom)
$60.0M - Series B - Apr 2021
MANTL (2016, United States)
$40.0M - Series B - Apr 2021
Omnio (2018, United Kingdom)
$35.7M - Series C - Mar 2021
Moov (2016, United States)
$27.0M - Series A - Nov 2020
View all 21 Funding Rounds on Tracxn Platform

38. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Banks for Businesses with Partner
Bank's License
30
38
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$702M(▲99.3%)
29(▲31.8%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$1.3B
52
-
147
23
Banking Tech (Fiserv)
(# Cos: 6100 | $47.9B)
Internet First Banks (Nubank)
(# Cos: 1137 | $20.7B)
Through Bank Partnerships (Stash)
(# Cos: 793 | $7.6B)
Business Banking (Tide)
(# Cos: 147 | $1.3B)
Tide
(2015, United Kingdom, $200M)
Novo
(2016, United States, $47.4M)
Chqbook
(2017, India, $11.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Mercury (2017, United States)
$120M - Series B - Jul 2021
Cora (2019, Brazil)
$116M - Series B - Aug 2021
Tide (2015, United Kingdom)
$100M - Series C - Jul 2021
Open (2017, India)
$61.9M - Series C - Sep 2021
Lili (2018, United States)
$55.0M - Series B - May 2021
Novo (2016, United States)
$40.7M - Series A - Jun 2021
Kontist (2016, Germany)
$29.8M - Series B - Mar 2021
View all 29 Funding Rounds on Tracxn Platform

39. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Insurance Agency Management
31
39
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$685M(▲216%)
9(▼18.2%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
21
$1.2B
64
-
275
9
Insurance IT (BitSight)
(# Cos: 2375 | $9.4B)
Insurance Policy Solutions (Guidewire)
(# Cos: 1525 | $5.0B)
Software for Insurance Intermediaries
(Covr)
(# Cos: 381 | $1.4B)
Insurance Agency Management
(Wefox)
(# Cos: 275 | $1.2B)
Wefox
(2015, Germany, $1.0B)
Covered by Sage
(2018, United States, $6.0M)
Agentero
(2017, United States, $23.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Wefox (2015, Germany)
$650M - Series C - Jun 2021
Agentero (2017, United States)
$13.5M - Series A - Jul 2021
Agentero (2017, United States)
$10.0M - Seed - Oct 2020
Veruna (2015, United States)
$6.0M - Series A - Mar 2021
Wunderite (2015, United States)
$3.0M - Seed - Apr 2021
Xilo (2017, United States)
$2.0M - Seed - Dec 2020
Finology (2017, Malaysia)
$500K - Seed - May 2021
View all 9 Funding Rounds on Tracxn Platform

40. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Lenders
32
40
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$665M(▼63.8%)
3(▼57.1%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$7.6B
27
2
158
13
Alternative Lending (Credit Karma)
(# Cos: 10133 | $71.2B)
Online Lenders (Affirm)
(# Cos: 7190 | $63.0B)
Diversified (Lending Club)
(# Cos: 651 | $11.4B)
Direct Lender (SoFi)
(# Cos: 158 | $7.6B)
SoFi
(2011, United States, $3.0B)
InCred
(2016, India, $216M)
Navi
(2018, India, $401M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
SoFi (2011, United States)
$370M - Series G - Jan 2021
Mynt (2015, Philippines)
$175M - Series A - Jan 2021
MNT Halan (2017, Egypt)
$120M - Series D - Aug 2021

41. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Alan (2016, France)
$220M - Series D - Apr 2021
Oscar (2012, United States)
$140M - Series D - Dec 2020
Bind (2016, United States)
$105M - Series B - Oct 2020
Friday Health.. (2015, United States)
$100M - Series C - Apr 2021
Beam Dental (2012, United States)
$80.0M - Series E - Mar 2021
Ottonova (2015, Germany)
$47.4M - Series E - Aug 2021
Spot (2017, United States)
$15.0M - Series A - Jul 2021
View all 16 Funding Rounds on Tracxn Platform
Internet First Health Insurers
33
41
Back to index
Internet First Insurance Platforms (Borrowell)
(# Cos: 3202 | $30.2B)
Internet First Insurers (Acko)
(# Cos: 996 | $19.2B)
Health (Oscar)
(# Cos: 86 | $6.0B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$637M(▼67.8%)
16(▲6.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$6.0B
38
1
86
18
Oscar
(2012, United States, $1.6B)
Alan
(2016, France, $361M)
Bright Health
(2016, United States, $1.6B)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

42. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Blend (2012, United States)
$300M - Series G - Jan 2021
LoanPro (2006, United States)
$100M - Series A - Jul 2021
Amount (2019, United States)
$100M - Series D - May 2021
Amount (2019, United States)
$86.0M - Series C - Dec 2020
Stavvy (2017, United States)
$40.0M - Series A - May 2021
KOMGO (2018, Switzerland)
$28.9M - Series B - May 2021
Peach Finance (2018, United States)
$20.0M - Series A - Jul 2021
View all 19 Funding Rounds on Tracxn Platform
Loan Life Cycle Management
34
42
Back to index
Banking Tech (Nubank)
(# Cos: 6100 | $47.9B)
Loan Life Cycle Management (TransUnion)
(# Cos: 1521 | $6.0B)
Suite (Blend)
(# Cos: 471 | $1.8B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$634M(▲440%)
19(▲46.2%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
40
$1.8B
121
8
471
26
Blend
(2012, United States, $685M)
Black Knight
(1962, United States)
Blender
(2014, Israel, $38.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

43. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
iCapital (2013, United States)
$440M - Series D - Jul 2021
Vise (2016, United States)
$65.0M - Series C - May 2021
Altruist (1999, United States)
$50.0M - Series B - May 2021
Vise (2016, United States)
$45.0M - Series B - Dec 2020
Exabel (2016, Norway)
$9.0M - Seed - Mar 2021
Globacap (2017, United Kingdom)
$9.0M - Series A - Feb 2021
Qutke (2014, China)
$7.7M - Series C - Feb 2021
View all 21 Funding Rounds on Tracxn Platform
Portfolio Management Solution for
Wealth Managers
35
43
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Investment Tech (Robinhood)
(# Cos: 18369 | $52.1B)
Wealth Management IT (Addepar)
(# Cos: 1108 | $4.6B)
Portfolio Management (iCapital)
(# Cos: 308 | $1.8B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$630M(▲223%)
21(▲40%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
38
$1.8B
93
3
308
12
iCapital
(2013, United States, $620M)
Mio Tech
(2016, China, $22.0M)
FNZ
(2003, United Kingdom)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

44. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
insightsoftware (2001, United States)
$800M - PE - Jul 2021
Vena (2011, Canada)
$241M - Series C - Apr 2021
OneStream Sof.. (2010, United States)
$200M - Series B - Apr 2021
Jedox (2002, Germany)
$100M - Series C - Jan 2021
Puzzle (2019, United States)
$21.5M - Series B - Jun 2021
Mosaic (2019, United States)
$18.5M - Series A - Jan 2021
Cube (2006, United States)
$10.0M - Series A - Mar 2021
View all 22 Funding Rounds on Tracxn Platform
Financial Planning & Analysis Software
36
44
Back to index
Finance & Accounting Tech (Fiserv)
(# Cos: 10320 | $29.4B)
Financial Planning & Analysis (Carta)
(# Cos: 1158 | $5.0B)
Suite (Anaplan)
(# Cos: 299 | $2.3B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$621M(▲6389%)
22(▲144%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
29
$2.3B
79
1
299
12
Anaplan
(2006, United States, $300M)
insightsoftware
(2001, United States, $800M)
Vena
(2011, Canada, $385M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

45. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Airwallex (2015, Australia)
$200M - Series E - Sep 2021
Tipalti (2010, United States)
$150M - Series E - Oct 2020
XTransfer (2017, China)
$138M - Series D - Sep 2021
Airwallex (2015, Australia)
$100M - Series D - Mar 2021
Currenxie (2014, China)
$10.0M - Series A - Aug 2021
Wyre (2013, United States)
$5.8M - Series A - Jan 2021
3S Money (2018, United Kingdom)
$4.2M - Series B - Apr 2021
View all 12 Funding Rounds on Tracxn Platform
B2B Remittance
37
45
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Remittance (Uphold)
(# Cos: 1738 | $8.5B)
Internet First Platforms (Remitly)
(# Cos: 1403 | $6.9B)
B2B Remittance (Payoneer)
(# Cos: 195 | $1.9B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$607M(▲101%)
12(▼20%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
14
$1.9B
56
1
195
19
Payoneer
(2005, United States, $269M)
Airwallex
(2015, Australia, $702M)
Ebury
(2009, United Kingdom, $119M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

46. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
The Zebra (2012, United States)
$150M - Series D - Apr 2021
Insurify (2013, United States)
$100M - Series B - Sep 2021
Policybazaar (2008, India)
$75.0M - Series F - Mar 2021
NerdWallet (2009, United States)
$54.3M - Series B - Dec 2020
Rates.ca (2014, Canada)
$51.0M - Series C - Mar 2021
Turtlemint (2015, India)
$46.0M - Series D - Mar 2021
RenewBuy (2014, India)
$45.0M - Series C - Jun 2021
View all 28 Funding Rounds on Tracxn Platform
Insurance Comparison Platforms
38
46
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Internet First Insurance Platforms (NerdWallet)
(# Cos: 3202 | $30.2B)
Insurance Comparison Platforms (Borrowell)
(# Cos: 1758 | $9.8B)
Diversified (Policybazaar)
(# Cos: 771 | $7.0B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$606M(▼68.5%)
28(▲21.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
63
$7.0B
200
10
771
34
Policybazaar
(2008, India, $637M)
NerdWallet
(2009, United States, $123M)
RenewBuy
(2014, India, $89.7M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

47. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Solarisbank (2016, Germany)
$224M - Series D - Jul 2021
Tink (2012, Sweden)
$103M - Series D - Dec 2020
Railsbank (2015, United Kingdom)
$70.0M - Series C - Jul 2021
Prime Trust (2004, United States)
$64.0M - Series A - Jul 2021
Yapily (2017, United Kingdom)
$51.0M - Series B - Jul 2021
Unit (1993, United States)
$51.0M - Series B - Jun 2021
Tink (2012, Sweden)
$47.9M - Series D - Apr 2021
View all 42 Funding Rounds on Tracxn Platform
Open Banking API Providers
39
47
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Banking Tech (Nubank)
(# Cos: 6100 | $47.9B)
Open Banking (Plaid)
(# Cos: 450 | $5.0B)
Banking APIs (Tink)
(# Cos: 227 | $2.7B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$596M(▲50.8%)
42(▲5%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
16
$2.7B
94
-
227
33
Tink
(2012, Sweden, $359M)
Cross River Bank
(2008, United States, $228M)
Railsbank
(2015, United Kingdom, $125M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

48. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Accounts Payables Payment Solutions
40
48
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Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$587M(▲185%)
8(▲14.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$1.3B
19
1
73
7
Payments (Square)
(# Cos: 12436 | $116B)
Business Payments (PayPal)
(# Cos: 6810 | $30.3B)
Mass Payouts (Cashfree)
(# Cos: 451 | $2.9B)
Invoice Payments (Zuora)
(# Cos: 425 | $2.4B)
Accounts Payables (FLEETCOR)
(# Cos: 73 | $1.3B)
FLEETCOR
(2000, United States, $211M)
Tipalti
(2010, United States, $283M)
Nvoicepay
(2009, United States, $28.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Melio Payments (2018, United States)
$250M - Series D - Sep 2021
Tipalti (2010, United States)
$150M - Series E - Oct 2020
Melio Payments (2018, United States)
$110M - Series C - Jan 2021
Modern Treasury (2018, United States)
$38.0M - Series B - Jan 2021
Finexio (2015, United States)
$23.0M - Series B - Oct 2020
Finexio (2015, United States)
$8.0M - Series B - Aug 2021
Billhop (2011, Sweden)
$4.9M - Series A - Feb 2021
View all 8 Funding Rounds on Tracxn Platform

49. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Cap Table Management
41
49
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Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$556M(▲162%)
15(▲150%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$1.3B
29
-
50
7
Finance & Accounting Tech (Fiserv)
(# Cos: 10320 | $29.4B)
Financial Planning & Analysis (Anaplan)
(# Cos: 1158 | $5.0B)
Equity Administration (Vertalo)
(# Cos: 88 | $1.3B)
Cap Table Management (Carta)
(# Cos: 50 | $1.3B)
Carta
(2012, United States, $1.2B)
Vertalo
(2017, United States, $5.0M)
Ledgy
(2017, Switzerland, $11.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Carta (2012, United States)
$500M - Series G - Aug 2021
Pulley (2019, United States)
$10.0M - Series A - Oct 2020
Ledgy (2017, Switzerland)
$10.0M - Series A - Sep 2021
Globacap (2017, United Kingdom)
$9.0M - Series A - Feb 2021
Globacap (2017, United Kingdom)
$5.2M - Series A - Nov 2020
Qapita (2019, Singapore)
$5.0M - Seed - Apr 2021
Quotabook (2019, South Korea)
$5.0M - Series A - Aug 2021
View all 15 Funding Rounds on Tracxn Platform

50. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Revenue Based Financing
42
50
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$532M(▲1007%)
19(▲138%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$828M
24
1
44
14
Alternative Lending (SoFi)
(# Cos: 10135 | $71.2B)
Online Lenders (Affirm)
(# Cos: 7192 | $63.0B)
Business Loans (OfBusiness)
(# Cos: 2097 | $13.6B)
Revenue Based Financing (Uncapped)
(# Cos: 57 | $1.2B)
Direct Lender (Clearco)
(# Cos: 44 | $828M)
Clearco
(2015, Canada, $385M)
Uncapped
(2019, United Kingdom, $119M)
GetVantage
(2019, India, $5.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Clearco (2015, Canada)
$215M - Series D - Jul 2021
Capchase (2020, United States)
$125M - Series A - May 2021
Clearco (2015, Canada)
$100M - Series C - Apr 2021
Uncapped (2019, United Kingdom)
$80.0M - Series C - Mar 2021
A55 (2019, Brazil)
$35.0M - Series A - May 2021
Remagine (2020, Germany)
$24.3M - Seed - Jan 2021
Ritmo (2020, Spain)
$16.3M - Seed - Jul 2021
View all 19 Funding Rounds on Tracxn Platform

51. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
PPRO (2006, United Kingdom)
$270M - Series D - Jan 2021
Conductor (1997, Brazil)
$150M - Series D - Oct 2020
CardInfoLink (2010, China)
$40.0M - Series C - Sep 2020
Conductor (1997, Brazil)
$20.0M - Series D - Dec 2020
Paysera (2004, Lithuania)
$8.6M - Series A - Jan 2021
Enfuce (2016, Finland)
$8.3M - Series B - Mar 2021
QRails (2016, United States)
$7.8M - Series B - Jun 2021
View all 13 Funding Rounds on Tracxn Platform
Payment Card Issuer Processors
43
51
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Payments (PayPal)
(# Cos: 12436 | $116B)
Enablers (Fiserv)
(# Cos: 1572 | $16.1B)
Issuer Processor (Heartland Payment
Systems)
(# Cos: 233 | $2.4B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$525M(▲142%)
13(▲117%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
48
$2.4B
104
21
233
16
Heartland Payment Syst..
(1997, United States, $40.0M)
Marqeta
(2010, United States, $528M)
PPRO
(2006, United Kingdom, $370M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

52. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Employee Expense Management
44
52
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Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$512M(▲291%)
13(▲8.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
37
$1.4B
102
4
320
20
Finance & Accounting Tech (Intuit)
(# Cos: 10320 | $29.4B)
Accounting Solutions (Fiserv)
(# Cos: 6933 | $19.4B)
Procure to Pay (FLEETCOR)
(# Cos: 1004 | $7.7B)
Travel & Expense (Ramp)
(# Cos: 445 | $3.6B)
Expense Approval (Expensify)
(# Cos: 320 | $1.4B)
Expensify
(2008, United States, $27.8M)
Hurdlr
(2012, United States, $3.2M)
Divvy
(2016, United States, $448M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Divvy (2016, United States)
$165M - Series D - Jan 2021
Ekuaibao (2014, China)
$154M - Series D - Aug 2021
Debeijin Service Tech.. (2016, China)
$92.5M - Series C - Mar 2021
Maycur (2008, China)
$30.9M - Series B - Jul 2021
Expensya (2014, France)
$20.0M - Series B - Apr 2021
IQBoxy (2013, United States)
$18.8M - Series A - Apr 2021
Maycur (2008, China)
$15.5M - Series B - Feb 2021
View all 13 Funding Rounds on Tracxn Platform

53. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
BharatPe (2018, India)
$370M - Series E - Jul 2021
BharatPe (2018, India)
$90.1M - Series D - Feb 2021
Dapp (2016, Mexico)
$12.4M - Series A - Jun 2021
Sticky (2019, United Kingdom)
$452K - Seed - Feb 2021
QR Code Payments
45
53
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Payments (Square)
(# Cos: 12436 | $116B)
Business Payments (PayPal)
(# Cos: 6810 | $30.3B)
QR Code Payments (BharatPe)
(# Cos: 139 | $1.4B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$473M(▼37.1%)
4( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$1.4B
27
-
139
5
BharatPe
(2018, India, $617M)
Yoyowallet
(2013, United Kingdom, $63.4M)
Trupay
(2015, India, $1.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

54. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Account Linked Expense Aggregation
46
54
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Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$471M(▲70.2%)
13(▼35%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
24
$2.2B
130
1
394
27
Investment Tech (Robinhood)
(# Cos: 18369 | $52.1B)
Wealth Management Platforms (Stash)
(# Cos: 3678 | $10.3B)
Expense Management (Venmo)
(# Cos: 1439 | $2.9B)
Expenses Aggregation (Money View)
(# Cos: 1108 | $2.7B)
Account Linked (Moneylion)
(# Cos: 394 | $2.2B)
Moneylion
(2013, United States, $208M)
Money View
(2014, India, $48.5M)
Money Forward
(2012, Japan, $42.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Toss (2015, South Korea)
$410M - Series F - Jun 2021
Cleo AI (2015, United Kingdom)
$44.0M - Series B - Dec 2020
Numbrs (1999, Switzerland)
$30.7M - Series B - Dec 2020
Snoop (2018, United Kingdom)
$20.9M - Series A - Jul 2021
Moneyhub (2013, United Kingdom)
$18.0M - Series B - Jul 2021
Snoop (2018, United Kingdom)
$13.0M - Series A - Oct 2020
BudgetBakers (2010, Czech Republic)
$7.4M - Angel - Apr 2021
View all 13 Funding Rounds on Tracxn Platform

55. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Business Loans
47
55
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$468M(▼9.7%)
18(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$2.0B
46
3
173
21
Alternative Lending (SoFi)
(# Cos: 10135 | $71.2B)
Online Lenders (Affirm)
(# Cos: 7192 | $63.0B)
Business Loans (OfBusiness)
(# Cos: 2097 | $13.6B)
Diversified (Funding Circle)
(# Cos: 619 | $4.9B)
Direct Lender (Fundbox)
(# Cos: 173 | $2.0B)
Fundbox
(2013, United States, $630M)
Lendingkart
(2014, India, $231M)
Indifi
(2015, India, $43.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
SellersFunding (2017, United States)
$167M - Series A - Sep 2021
Konfío (2014, Mexico)
$125M - Series E - Jun 2021
AideXa (2020, Italy)
$54.7M - Seed - Nov 2020
Charter Schoo.. (2006, United States)
$32.0M - Series B - May 2021
Xepelin (2019, Chile)
$30.0M - Series A - Jul 2021
FlexiLoans (2015, India)
$20.3M - Series B - Oct 2020
Lidya (2016, United States)
$8.3M - Series A - Jul 2021
View all 18 Funding Rounds on Tracxn Platform

56. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Digital Native Business Banks
48
56
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$458M(▲182%)
2(▼60%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$1.4B
10
1
25
3
Banking Tech (Fiserv)
(# Cos: 6100 | $48.0B)
Internet First Banks (Ally)
(# Cos: 1137 | $20.7B)
Digital Native Banks (Nubank)
(# Cos: 203 | $12.9B)
Business Banking (Shine)
(# Cos: 25 | $1.4B)
Shine
(2017, France, $12.5M)
Judo Bank
(2016, Australia, $1.2B)
Conta Simples
(2018, Brazil, $150K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Judo Bank (2016, Australia)
$284M - Series D - Dec 2020
Judo Bank (2016, Australia)
$174M - Series D - Jun 2021

57. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
TrueLayer (2016, United Kingdom)
$130M - Series E - Sep 2021
TrueLayer (2016, United Kingdom)
$70.0M - Series D - Apr 2021
Orum (2019, United States)
$56.0M - Series B - Jun 2021
Yapily (2017, United Kingdom)
$51.0M - Series B - Jul 2021
Orum (2019, United States)
$21.0M - Series A - Apr 2021
Primer (2020, United Kingdom)
$18.6M - Series A - Nov 2020
Moneyhub Ent.. (2011, United Kingdom)
$18.0M - Angel - Jul 2021
View all 26 Funding Rounds on Tracxn Platform
Open Banking APIs for Payments
49
57
Back to index
Payments (PayPal)
(# Cos: 12436 | $116B)
Enablers (Fiserv)
(# Cos: 1572 | $16.1B)
Open Banking APIs (TrueLayer)
(# Cos: 135 | $773M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$456M(▲278%)
26(▲13%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$773M
59
-
135
22
TrueLayer
(2016, United Kingdom, $273M)
Yapily
(2017, United Kingdom, $70.8M)
Sila
(2017, United States, $20.7M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

58. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First NFC Prepaid Cards
50
58
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$456M(▲203%)
4(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$724M
10
2
65
3
Payments (PayPal)
(# Cos: 12436 | $116B)
Consumer Payments (Grab)
(# Cos: 4039 | $69.3B)
Payment Cards (Curve)
(# Cos: 1166 | $6.7B)
Prepaid Cards (Greenlight)
(# Cos: 935 | $3.1B)
General Purpose (Privacy)
(# Cos: 522 | $1.1B)
Reloadable (Uala)
(# Cos: 498 | $1.1B)
NFC (Mogo.ca)
(# Cos: 65 | $724M)
Mogo.ca
(2006, Canada)
Uala
(2016, Argentina, $544M)
BigPay
(2017, Malaysia, $100M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Uala (2016, Argentina)
$350M - Series D - Aug 2021
BigPay (2017, Malaysia)
$100M - Series A - Aug 2021
TreeCard (2020, United Kingdom)
$5.1M - Seed - Feb 2021
TreeCard (2020, United Kingdom)
$1.2M - Seed - Oct 2020

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FinTech - Top Business Models Report
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