Eros Adragna reveals his top ten finch companies, and explains how they are revolutionizing their respective industries.

1. Top Ten Fintech
Companies
EROS ADRAGNA

2. The Rise of Technology
Since the dawn of the 21st century, we as a collective society have seen a dramatic
increase in the use of technology. Computers have gotten more intelligent, files are
easily accessible almost 24 hours a day through cloud computing and our mobile
phones and tablets are quite literally a part of our everyday lives. And while many
people believe that technology is only being applied to consumer goods through the use
of home electronics, automobiles and cellular devices, other industries are benefiting
from technology in large ways.
One of the latest industries to benefit from this technological revolution is the world of
finance. Originally referring to how technology could be applied to the back end of
traditional consumer and trade financial institutions, financial technology (fintech) has
grown in the past few years. Now the term refers to any innovation in finance including
financial literacy, crypto-currencies or investments. While the rapid growth of fintech is
impressive, what does it mean to the world of finance and business in general?
EROS ADRAGNA

3. The Growth of FintechWell, due to the world’s increasing reliance on technology, fintech is
quickly becoming something of a necessity for already existing
institutions to adapt. The days when a new business, or even an old one
in some situations, would need to turn to a traditional bank or investor
are over. Now, startups have the astounding power of the Internet at
their disposal in order to get funding through crowdsourcing. Businesses
of all sizes are also turning to mobile payment processing fintech
companies for easier payment processing and quicker money transfers
across state or continental borders in order to save time and
headaches. It is innovations such as these that make fintech
increasingly important to our contemporary business world. And
investors are taking notice.
In a recent report from CNBC, KPMG (one of the world’s four largest
auditing companies) states that over $20 billion of funding for fintech
companies was raised last year alone. And with so many fintech
startups out there (recent estimates are as high as more than 6,000
worldwide in 2015, which has certainly grown since then) it can be
difficult to stand out from the rest. Here is a list, in no particular order,
of fintech companies that are not only making a name for themselves,
but changing the world of finance as we know it.
EROS ADRAGNA

4. Stripe
One of the more popular companies in recent years, Stripe is a digital payment processing
company. Founded in 2011 by Irish immigrant brothers John and Patrick Collison, Stripe has
grown exponentially, from having only 3.8% of Americans purchasing products through
Stripe in 2014 to an impressive 27% this year. And with an estimated $20 billion in payment
volume, Stripe’s actual revenue is roughly $450 million. The company also boasts an
impressive list of clientele, most notably Kickstarter, Lyft and Shopify.
EROS ADRAGNA

5. Online
Accounting
Software
Founded in New Zealand in 2006, Xero offers online accounting software for small
business owners. Although its user base may not be as large as other accounting software
companies (over 800,000 users) it offers a much more comprehensive program. Some of
the features include: invoicing, inventory, payroll, bank reconciliation, expense claims, file
sharing and more. The service even allows for business owners to track their profits over
multiple currencies, and, to show its competitive nature, convert their files from
Quickbooks, quite possibly the most popular accounting software in the country.
EROS ADRAGNA

6. Formerly known as AliPay, Ant Financial is the world’s largest
third-party payment platform. Through its AliPay service, Ant
Financial serves over 50% of China’s online payments, with
an estimated 450 million users. Comparable to PayPal, AliPay
allows users a safe and easy form of payment for online
purchases. The company also operates the money-market
fund Yu’e Bao as well as the online bank MYbank. With
services ranging from wealth management to cloud
computing, Ant Financial has made a name for itself in the
fintech industry.
Ant Financial
EROS ADRAGNA

7. Qudian
One of the more unique companies in the list, Qudian is a student microloan site and instalment
payment platform. Based in Beijing, the company has seen a great deal of success lately, with
over $452 million in funding. Another entry on this list, Ant Financial, was one of the larger
backers of the company, offering a whopping $200 million. This past June, Qudian surpassed the
10 million user landmark, which is impressive, given their strategy of directly marketing to students
through the use of part-time marketers and even posters in campus bathrooms. The company
essentially allows for students, without a credit history, to take out a loan in order to make
payments on just about anything, primarily focusing on extravagant personal gifts. Regardless of
the marketing tactics used, the company seems to have the approval of some of the country’s
largest venture capitalists.
EROS ADRAGNA

8. Oscar Health Insurance
Co-founded by Josh Kushner in 2013, Oscar Health
Insurance is a health insurance provider looking to
simplify the process of health insurance in the U.S.
through the means of technology. By being more
consumer friendly than traditional providers and offering
a patient’s information in an easy to access format, Oscar
seeks to flip the healthcare industry on its head. The
company has done fairly well for itself, with Founders
Fund, Horizon Ventures, Wellington Management
Company and Goldman Sachs raising $145 million in new
capital, bringing the company’s value to $1.5 billion.
According to a report from Fortune, Oscar is one of the
largest health insurance startups, with over 40,000
members under the company’s policies.
EROS ADRAGNA

9. Atom Bank
Known as a neobank, Atom Bank is an online-only banking system. In a
recent report from Business Insider, CEO Mark Mullen stated, “Atom
aims to offer a genuine alternative to the insidious and self-interested
banks that dominate the UK banking landscape.” Essentially, users
interact with the bank through their newly released iPhone and iPad
application only. And although the company faces stiff competition in
the form of other neobanks such as Mondo, Starling Bank and Tandem,
it seems to be doing quite well for itself, raising more than $45 million
in funding and being valued at over $150 million.
EROS ADRAGNA

10. SoFi
The U.S. is plagued by student loan
debt, and SoFi is aiming to help. A
personal finance company, SoFi offers
many desperately needed services and
options that traditional banks do not,
such as student loan refinancing,
personal loans, mortgage loans, wealth
management and even job search and
career strategy assistance. The startup
has even managed to land some very
helpful screen time, having had a brief
appearance on The Ellen Show. With
over 200,000 customers and $13 billion
in funded student loans, SoFi is certainly
a company to keep your eye on.
EROS ADRAGNA

11. Funding
CircleFocused exclusively on small businesses, Funding Circle is quickly becoming the world’s foremost
marketplace for investors. Across the world, Funding Circle has managed to lend over $2.5 billion
to 20,000 businesses. The company allows other businesses to loan directly from a large variety of
investors. After being rejected time and time again for loans, Co-founders Samir Desai, Christian
Grobe, Sam Hodges, James Meekings and Andrew Mullinger created Funding Circle with the
hopes of disrupting the, as their website puts it, “outdated,” banking system. Funding Circle is well
on its way to achieving that goal, with over $300 million in equity capital from Accel Partners,
BlackRock and Index Ventures (to name a few).
EROS ADRAGNA

12. What makes Knip standout amongst the dozens of insurance management
companies existing already, is that it is one of the few that can only be used on
mobile devices. The company’s mobile application, available on both iOS and
Android devices, has been downloaded 330,000 times in Switzerland. Knip, a
Swiss company, has earned $15.7 million in Series B funding from Route 66
Ventures, a U.S.-based firm. Essentially, the application acts as a mobile
insurance broker, allowing users to view their insurance policies, tariffs and
services. The application even analyzes your policy and offers advice on how to
improve your insurance protection.
Knip
EROS ADRAGNA

13. OnDeck
Founded in 2007, OnDeck is an online small
business lending firm, similar to Funding
Circle. The company, almost ten years old,
has loaned over $5 billion to more than
60,000 customers in a variety of industries.
Numbers such as these are impressive on their
own, but where OnDeck truly shines, is its
proprietary credit-scoring system. Capable of
looking at more than 2,000 data points, the
OnDeck Score evaluates a business’ credit
worthiness and can make lending decisions in
real time. The technology is quite impressive.
Equally impressive is the recent $200 million
revolving debt facility that OnDeck has
received from Credit Suisse. OnDeck will use
this loan in order to fund more of its own
loans, as opposed to relying on outside
investors.
$5 Billion
Loaned
60,000
Customers
EROS ADRAGNA