Tracxn's proprietary #taxonomy brings to you top #BusinessModels in FinTech rebrand.ly/2mllg15 Get our free reports on #PracticeArea or #sector of your interest to your mailbox regularly https://rb.gy/cx2upn

1. TRACXN TOP BUSINESS MODELS REPORT
December 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 $27.3B
Banking Tech $18.9B
Investment Tech $18.4B
Alternative Lending $17.2B
Cryptocurrencies $13.5B
Finance & Accounting Tech $12.4B
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
AU21 Capital
Global Founders Capital
150
26
19
Early
Stage
Tiger Global Management
Andreessen Horowitz
Sequoia Capital
37
32
29
Late
Stage
Tiger Global Management
Sequoia Capital
Accel
48
32
26
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
United States (43%)
United Kingdom (11%)
India (8%)
Germany (4%)
Canada (4%)
China (3%)
Brazil (3%)
Others (25%)
$ Funding # Rounds
Robinhood
(2013, United States)
$3.4B - Series H
FWD
(2013, China)
$1.4B - PE
Devoted Health
(2017, United States)
$1.1B - Series D
Paytm
(2010, India)
$1.1B - Series H
Klarna
(2005, Sweden)
$1.0B - Series H
FTX
(2018, The Bahamas)
$900M - Series B
Trade Republic
(2015, Germany)
$900M - Series C
N26
(2013, Germany)
$900M - Series E
SumUp
(2012, United Kingdom)
$895M - Series D
Mollie
(2004, Netherlands)
$800M - Series C
Revolut
(2015, United Kingdom)
$800M - Series E
insightsoftware
(2001, United States)
$800M - PE

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▲4 Digital Native Banks $4.2B 15 N26 | $900M | Series E Link
2▲5 Business Payments Solutions $4.1B 51 Stripe | $600M | Series H Link
3▼2 Digital Wallets $3.2B 64 Paytm | $1.1B | Series H Link
4<> 0 Internet First Point of Sale Financing $2.9B 41 Klarna | $1.0B | Series H Link
5▲9 Cryptocurrencies Based Financial Services $2.8B 64 Celsius Network | $750M | Series B Link
6▲2 Online Business Payments $2.2B 72 Mollie | $800M | Series C Link
7▲42 POS Payment Terminals $2.2B 22 SumUp | $895M | Series D Link
8▲36 Crypto Trading Platforms $2.2B 58 MoonPay | $555M | Series A Link
9▲27 Corporate Travel & Expense Cards $2.2B 27 Brex | $425M | Series D Link
10▼4
Internet First Retail Banks with Partner Bank's
License
$2.1B 65 Chime | $750M | Series G 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▲53 Crypto Exchanges $2.1B 58 FTX | $900M | Series B Link
12▲13 KYC for Financial Institutions $1.8B 34 Socure | $450M | Series E Link
13▼10 Internet First Health Insurers $1.7B 14 Devoted Health | $1.1B | Series D Link
14▼3 Internet-First Property and Casualty Insurers $1.6B 22 Wefox | $650M | Series C Link
15▲26 Internet First Corporate Credit Card Issuers $1.6B 23 Brex | $425M | Series D Link
16▲92 P2P Wallet Remittance $1.5B 22 Mynt | $300M | Series D Link
17▲26 Payroll Management Solutions $1.3B 22 Deel | $425M | Series D Link
18▲58 Discount Stock Brokers $1.2B 11 Trade Republic | $900M | Series C Link
19▲63 Trade Management Software $1.1B 16 DriveWealth | $450M | Series D Link
20▼18 Card Linked Digital Wallets $1.1B 17 Grab | $375M | Series H 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▲6 International Business Payments $1.0B 12 Rapyd | $300M | Series E Link
22▼1 Robo Advisor Investment Platforms $965M 29 Scalable Capi.. | $183M | Series E Link
23▼1 Internet First Lenders $965M 4 SoFi | $370M | Series G Link
24▲54 KYC Solutions for Banks $920M 17 Socure | $450M | Series E Link
25▲54 Social Trading Platforms $914M 11 eToro | $650M | Series F Link
26▲9
Internet First Banks for Businesses with Partner
Bank's License
$907M 32 Rho Business .. | $130M | Series B Link
27▲130 Internet First Working Capital Loans Marketplaces $870M 14 OfBusiness | $325M | Series G Link
28▲108 Banking Software Suite $868M 19 Zeta | $250M | Series C Link
29▼16 B2B Remittance $854M 15 Tipalti | $270M | Series F Link
30▲38 Open Banking Aggregation APIs $850M 26 Plaid | $425M | Series D 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▼21 Internet First Residential Mortage Loans $823M 7 Better Mortgage | $500M | Series E Link
32▲26 Internet First Business Loans Marketplace $772M 31 MarketFinance | $383M | Series C Link
33▼9 Accounts Payables Payment Solutions $772M 9 Tipalti | $270M | Series F Link
34▲143 Financial Planning & Analysis Software $745M 21 insightsoftware | $800M | PE Link
35▼19 Open Banking API Providers $713M 53 Solarisbank | $224M | Series D Link
36▼10 Core Banking Platforms $711M 10 Mambu | $266M | Series E Link
37▼20 Internet First Business Loans $682M 17 SellersFunding | $167M | Series A Link
38▲23 Insurance Agency Management $680M 10 Wefox | $650M | Series C Link
39▼10 Payment Fraud Monitoring Solutions $678M 18 Trulioo | $394M | Series D Link
40▲10 Payment Transaction Monitoring $647M 11 Forter | $300M | Series F 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▼21 Payment Card Issuer Processors $631M 8 Global Proces.. | $300M | Series D Link
42▼33 Invoice Processing Automation $623M 10 Melio Payments | $250M | Series D Link
43▲12 Open Banking APIs for Payments $586M 29 TrueLayer | $130M | Series E Link
44▲74 Payroll Payments Solutions $581M 3 Deel | $425M | Series D Link
45▼15 Accounts Payable and Receivable Management $574M 15 Tradeshift | $200M | Series F Link
46▲5 Internet First Auto Insurers $572M 22 Acko | $255M | Series D Link
47▲24 Loan Life Cycle Management $571M 26 Blend | $300M | Series G Link
48▼9 Cap Table Management $559M 14 Carta | $500M | Series G Link
49▲48 Vendor Risk Management $550M 3 Socure | $450M | Series E Link
50▼32 Insurance Comparison Platforms $545M 30 The Zebra | $150M | 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
Digital Native Banks
01
9
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$4.2B (▲188%)
15(▲25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$9.6B
31
4
95
11
Banking Tech (Fiserv)
(# Cos: 6314 | $53.8B)
Internet First Banks (Chime)
(# Cos: 1197 | $24.5B)
Digital Native Banks (Revolut)
(# Cos: 214 | $15.4B)
Diversified (Nubank)
(# Cos: 95 | $9.6B)
Nubank
(2013, Brazil, $2.3B)
Revolut
(2015, United Kingdom, $2.1B)
Starling Bank
(2014, United Kingdom, $852M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
N26 (2013, Germany)
$900M - Series E - Oct 2021
Revolut (2015, United Kingdom)
$800M - Series E - Jul 2021
Nubank (2013, Brazil)
$750M - Series G - Jun 2021
Monzo (2015, United Kingdom)
$475M - Series H - Dec 2021
Nubank (2013, Brazil)
$400M - Series G - Jan 2021
Starling Bank (2014, United Kingdom)
$376M - Series D - Mar 2021
Bunq (2013, Netherlands)
$231M - Series A - Jun 2021
View all 15 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 (2012, United Kingdom)
$450M - Series C - Jan 2021
OPay (2018, Nigeria)
$400M - Series C - Aug 2021
EBANX (2012, Brazil)
$400M - Series C - Jun 2021
SaltPay (2019, Portugal)
$345M - Series C - Nov 2021
VNPAY (2007, Vietnam)
$250M - Series B - Aug 2021
View all 51 Funding Rounds on Tracxn Platform
Business Payments Solutions
02
10
Back to index
Payments (Grab)
(# Cos: 12622 | $125B)
Business Payments (PayPal)
(# Cos: 6915 | $32.9B)
Diversified (Square)
(# Cos: 898 | $9.4B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$4.1B (▲339%)
51(▲104%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
90
$9.4B
224
22
898
43
Square
(2009, United States, $520M)
FIS
(1968, United States)
Flutterwave
(2016, United States, $239M)
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
Paytm (2010, India)
$1.1B - Series H - Nov 2021
Toss (2015, South Korea)
$410M - Series F - Jun 2021
Grab (2012, Singapore)
$375M - Series H - Jul 2021
Mynt (2015, Philippines)
$300M - Series D - Nov 2021
Grab (2012, Singapore)
$300M - Series H - Jan 2021
Gojek (2010, Indonesia)
$300M - Series H - May 2021
MoMo (2007, Vietnam)
$200M - Series E - Dec 2021
View all 64 Funding Rounds on Tracxn Platform
Digital Wallets
03
11
Back to index
Payments (PayPal)
(# Cos: 12622 | $125B)
Consumer Payments (PhonePe)
(# Cos: 4089 | $74.4B)
Wallets (Grab)
(# Cos: 1438 | $62.5B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$3.2B (▲38.4%)
64(▲25.5%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
56
$62.5B
276
10
1438
50
Grab
(2012, Singapore, $10.4B)
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.

12. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Point of Sale Financing
04
12
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.9B (▲97.8%)
41(▲41.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
17
$7.9B
93
9
199
32
Alternative Lending (Credit Karma)
(# Cos: 11076 | $78.7B)
Online Lenders (SoFi)
(# Cos: 7962 | $70.6B)
Consumer Loans (Upstart)
(# Cos: 4020 | $34.8B)
Point of Sale Financing (Klarna)
(# Cos: 395 | $12.1B)
Direct Lender (Affirm)
(# Cos: 199 | $7.9B)
Affirm
(2012, United States, $1.2B)
Klarna
(2005, Sweden, $3.7B)
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
Zilch (2018, United Kingdom)
$110M - Series C - Nov 2021
View all 41 Funding Rounds on Tracxn Platform

13. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Celsius Netw.. (2017, United Kingdom)
$750M - Series B - Oct 2021
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 (2011, Luxembourg)
$300M - Series C - Mar 2021
Fireblocks (2018, United States)
$133M - Series C - Mar 2021
Blockchain (2011, Luxembourg)
$120M - Series C - Feb 2021
View all 64 Funding Rounds on Tracxn Platform
Cryptocurrencies Based Financial
Services
05
13
Back to index
Cryptocurrencies (Gemini)
(# Cos: 16706 | $21.9B)
Financial Services (FTX)
(# Cos: 11374 | $16.9B)
Diversified (Coinbase)
(# Cos: 840 | $5.3B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.8B (▲411%)
64(▲156%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
13
$5.3B
202
5
840
41
Coinbase
(2012, United States, $547M)
Celsius Network
(2017, United Kingdom, $780M)
Blockchain
(2011, Luxembourg, $590M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

14. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Mollie (2004, Netherlands)
$800M - Series C - Jun 2021
Bolt (2014, United States)
$393M - Series D - Oct 2021
Razorpay (2014, India)
$375M - Series F - Dec 2021
Rapyd (2016, United States)
$300M - Series E - Aug 2021
Rapyd (2016, United States)
$300M - Series D - Jan 2021
Airwallex (2015, Australia)
$200M - Series E - Sep 2021
Voyager Innovat.. (2013, Philippines)
$167M - Series E - Jun 2021
View all 72 Funding Rounds on Tracxn Platform
Online Business Payments
06
14
Back to index
Payments (Grab)
(# Cos: 12622 | $125B)
Business Payments (Square)
(# Cos: 6915 | $32.9B)
Online Payments (PayPal)
(# Cos: 2578 | $8.7B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.2B (▲181%)
72(▲41.2%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
200
$8.7B
490
23
2578
70
PayPal
(1998, United States, $190M)
Razorpay
(2014, India, $742M)
Payoneer
(2005, United States, $269M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

15. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
POS Payment Terminals
07
15
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.2B (▲1199%)
22(▲83.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
82
$5.6B
218
17
877
35
Payments (Grab)
(# Cos: 12622 | $125B)
Business Payments (PayPal)
(# Cos: 6915 | $32.9B)
POS Payments (SumUp)
(# Cos: 1229 | $6.1B)
POS Payment Terminal (Pine Labs)
(# Cos: 877 | $5.6B)
Pine Labs
(1998, India, $1.4B)
SumUp
(2011, United States, $66.1M)
Clip
(2012, Mexico, $396M)
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
Union PoS (2009, United States)
$22.0M - Series B - Dec 2021
View all 22 Funding Rounds on Tracxn Platform

16. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Crypto Trading Platforms
08
16
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.2B (▲1056%)
58(▲152%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
22
$3.3B
196
1
1961
36
Cryptocurrencies (ConsenSys)
(# Cos: 16705 | $21.9B)
Financial Services (Coinbase)
(# Cos: 11374 | $16.9B)
Investment Industry (FTX)
(# Cos: 8367 | $8.9B)
Online Trading Platforms (Bitso)
(# Cos: 2959 | $4.4B)
Regular Trading (Gemini)
(# Cos: 1961 | $3.3B)
Gemini
(2015, United States, $400M)
Bitso
(2014, Mexico, $331M)
Voyager
(2018, United States)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
MoonPay (2019, United States)
$555M - Series A - Oct 2021
Gemini (2015, United States)
$400M - Series A - Nov 2021
Bitpanda (2014, Austria)
$263M - Series C - Aug 2021
Bitso (2014, Mexico)
$250M - Series C - May 2021
FalconX (2018, Malta)
$210M - Series C - Aug 2021
Mercado Bitcoin (2013, Brazil)
$200M - Series B - Jul 2021
Bitpanda (2014, Austria)
$170M - Series B - Mar 2021
View all 58 Funding Rounds on Tracxn Platform

17. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Corporate Travel & Expense Cards
09
17
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.2B (▲790%)
27(▲92.9%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$3.0B
42
2
94
18
Finance & Accounting Tech (Intuit)
(# Cos: 11178 | $33.2B)
Accounting Solutions (Fiserv)
(# Cos: 7481 | $21.7B)
Procure to Pay (FLEETCOR)
(# Cos: 1024 | $8.9B)
Travel & Expense (Brex)
(# Cos: 451 | $4.4B)
Card Solutions (Pleo)
(# Cos: 94 | $3.0B)
Pleo
(2015, Denmark, $434M)
Brex
(2017, United States, $1.2B)
Ramp
(2006, United States, $470M)
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
Brex (2017, United States)
$300M - Series D - Oct 2021
Pleo (2015, Denmark)
$200M - Series C - Dec 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
View all 27 Funding Rounds on Tracxn Platform

18. 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
10
18
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.1B (▲51.1%)
65(▲35.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
18
$6.3B
169
1
463
57
Banking Tech (Fiserv)
(# Cos: 6314 | $53.8B)
Internet First Banks (Nubank)
(# Cos: 1197 | $24.5B)
Through Bank Partnerships (Stash)
(# Cos: 837 | $8.9B)
Retail Banking (Chime)
(# Cos: 463 | $6.3B)
Chime
(2013, United States, $2.1B)
Stash
(2015, United States, $448M)
Aspiration
(2013, United States, $555M)
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
Aspiration (2013, United States)
$350M - Series D - Jan 2021
Current (2015, United States)
$220M - Series D - Apr 2021
TSLC (2019, Singapore)
$200M - Series B - Dec 2021
Stash (2015, United States)
$130M - Series G - Feb 2021
First Digital Bank (2019, Israel)
$120M - Series A - Dec 2021
Albert (2015, United States)
$100M - Series C - Jan 2021
View all 65 Funding Rounds on Tracxn Platform

19. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Crypto Exchanges
11
19
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.1B (▲1832%)
58(▲107%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
44
$2.8B
289
-
4011
47
Cryptocurrencies (Bitso)
(# Cos: 16705 | $21.9B)
Financial Services (Coinbase)
(# Cos: 11374 | $16.9B)
Investment Industry (Gemini)
(# Cos: 8367 | $8.9B)
Crypto Exchanges (FTX)
(# Cos: 4011 | $2.8B)
FTX
(2018, The Bahamas, $1.3B)
CoinSwitch
(2017, India, $302M)
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
FTX (2018, The Bahamas)
$421M - Series B - Oct 2021
CoinSwitch (2017, India)
$260M - Series C - Oct 2021
1inch (2020, United Kingdom)
$175M - Series B - Dec 2021
CoinDCX (2018, India)
$90.0M - Series C - Jun 2021
Korbit (2013, South Korea)
$75.2M - Series B - Nov 2021
Rain (2016, Bahrain)
$75.0M - Series B - Nov 2021
View all 58 Funding Rounds on Tracxn Platform

20. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
KYC for Financial Institutions
12
20
Back to index
RegTech (Jumio)
(# Cos: 2471 | $14.9B)
KYC (Onfido)
(# Cos: 669 | $3.7B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.8B (▲428%)
34(▼15%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
56
$3.7B
225
9
669
44
Onfido
(2012, United Kingdom, $242M)
Jumio
(2010, United States, $196M)
IDnow
(2014, Germany, $40.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Socure (2012, United States)
$450M - Series E - Nov 2021
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
View all 34 Funding Rounds on Tracxn Platform

21. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Devoted Health (2017, United States)
$1.1B - Series D - Oct 2021
Alan (2016, France)
$220M - Series D - Apr 2021
Sidecar Health (2018, United States)
$125M - Series C - Jan 2021
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 14 Funding Rounds on Tracxn Platform
Internet First Health Insurers
13
21
Back to index
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3303 | $34.6B)
Internet First Insurers (Lemonade)
(# Cos: 1033 | $22.7B)
Health (Oscar)
(# Cos: 94 | $7.3B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.7B (▲7.9%)
14(▼17.6%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$7.3B
40
1
94
17
Oscar
(2012, United States, $1.6B)
Alan
(2016, France, $361M)
Devoted Health
(2017, United States, $2.0B)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

22. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet-First Property and Casualty
Insurers
14
22
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.6B (▲172%)
22(▲46.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$4.4B
51
2
108
24
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3303 | $34.6B)
Internet First Insurers (Lemonade)
(# Cos: 1033 | $22.7B)
P&C (Zego)
(# Cos: 713 | $10.2B)
Diversified (Coalition)
(# Cos: 108 | $4.4B)
Coalition
(2017, United States, $520M)
Next Insurance
(2016, United States, $881M)
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)
$205M - Series E - Sep 2021
Coalition (2017, United States)
$175M - Series D - Mar 2021
Leocare (2017, France)
$116M - Series B - Nov 2021
Vouch (2018, United States)
$60.0M - Series C - Sep 2021
Branch (2017, United States)
$50.0M - Series B - Jun 2021
View all 22 Funding Rounds on Tracxn Platform

23. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Corporate Credit Card
Issuers
15
23
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.6B (▲600%)
23(▲283%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$2.4B
21
-
47
14
Payments (PayPal)
(# Cos: 12622 | $125B)
Consumer Payments (Grab)
(# Cos: 4089 | $74.4B)
Payment Cards (FamPay)
(# Cos: 1183 | $8.7B)
Credit Cards (Stori)
(# Cos: 210 | $5.2B)
Corporate Cards (Pleo)
(# Cos: 47 | $2.4B)
Pleo
(2015, Denmark, $434M)
Brex
(2017, United States, $1.2B)
Ramp
(2006, United States, $470M)
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
Brex (2017, United States)
$300M - Series D - Oct 2021
Pleo (2015, Denmark)
$200M - Series C - Dec 2021
Pleo (2015, Denmark)
$150M - Series C - Jun 2021
Ramp (2006, United States)
$115M - Series B - Apr 2021
Mesh Payments (2012, United States)
$50.0M - Series B - Dec 2021
View all 23 Funding Rounds on Tracxn Platform

24. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
P2P Wallet Remittance
16
24
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.5B (▲2590%)
22(▲144%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$2.0B
68
-
346
17
Remittance (Flywire)
(# Cos: 1998 | $9.4B)
Internet First Platforms (Payoneer)
(# Cos: 1595 | $7.8B)
P2P Remittance (Remitly)
(# Cos: 1119 | $5.1B)
Wallet Transfer (Uphold)
(# Cos: 346 | $2.0B)
Uphold
(2015, United Kingdom, $73.4M)
Sendwave
(2014, United States, $13.8M)
Taptap Send
(2017, United Kingdom, $80.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Mynt (2015, Philippines)
$300M - Series D - Nov 2021
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
Chipper Cash (2016, United States)
$150M - Series C - Nov 2021
PaySend (2015, Malta)
$125M - Series B - May 2021
Chipper Cash (2016, United States)
$100M - Series C - May 2021
View all 22 Funding Rounds on Tracxn Platform

25. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Payroll Management Solutions
17
25
Back to index
Finance & Accounting Tech (Fiserv)
(# Cos: 11178 | $33.2B)
Payroll Management (Justworks)
(# Cos: 505 | $3.0B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.3B (▲530%)
22(▲57.1%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
40
$3.0B
100
5
505
24
Justworks
(2012, United States, $148M)
Edenred
(2010, France)
Paylocity
(1997, United States, $37.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Deel (2018, United States)
$425M - Series D - Oct 2021
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
Wrapbook (2011, United States)
$100M - Series B - Nov 2021
Papaya Global (2016, United States)
$100M - Series C - Mar 2021
CloudPay (1996, United Kingdom)
$58.0M - Series D - Aug 2021
View all 22 Funding Rounds on Tracxn Platform

26. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Discount Stock Brokers
18
26
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.2B (▲1169%)
11(▲120%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
17
$3.0B
62
15
228
12
Investment Tech (SoFi)
(# Cos: 19657 | $56.5B)
Online Trading Platforms (Robinhood)
(# Cos: 8617 | $23.8B)
Stocks (Upstox)
(# Cos: 1929 | $7.2B)
Regular Trading (Groww)
(# Cos: 1478 | $4.7B)
Brokers (Fidelity Investments)
(# Cos: 637 | $4.3B)
Discount (Ally)
(# Cos: 228 | $3.0B)
Ally
(1919, United States, $1.3B)
Upstox
(2011, India, $84.6M)
TD Ameritrade
(1994, United States)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
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
Upstox (2011, India)
$55.6M - Series C - Sep 2021
Avenue (2002, United States)
$28.9M - Series A - Aug 2021
Invstr (2013, United Kingdom)
$20.0M - Series A - Mar 2021
Trading212 (2004, United Kingdom)
$19.1M - Series A - Aug 2021
View all 11 Funding Rounds on Tracxn Platform

27. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Trade Management Software
19
27
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.1B (▲1094%)
16(▲45.5%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
39
$1.9B
88
7
283
18
Investment Tech (Robinhood)
(# Cos: 19657 | $56.5B)
Capital Market IT (ICE)
(# Cos: 1127 | $5.4B)
Trade Management (Capitolis)
(# Cos: 1066 | $5.1B)
Suite (FIS)
(# Cos: 283 | $1.9B)
FIS
(1968, United States)
Capitolis
(2016, United States, $173M)
ICE
(2000, United States)
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
Halo Investing (2015, United States)
$100M - Series C - Apr 2021
Capitolis (2016, United States)
$90.0M - Series C - Mar 2021
Genesis (2012, United Kingdom)
$45.0M - Series B - Mar 2021
FIA Tech (2007, United States)
$44.0M - Series C - Jun 2021
View all 16 Funding Rounds on Tracxn Platform

28. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Card Linked Digital Wallets
20
28
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.1B (▼45.5%)
17(▲41.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
12
$11.9B
71
4
290
14
Payments (PayPal)
(# Cos: 12622 | $125B)
Consumer Payments (CRED)
(# Cos: 4089 | $74.4B)
Wallets (PhonePe)
(# Cos: 1438 | $62.5B)
Card Linked (Grab)
(# Cos: 290 | $11.9B)
Grab
(2012, Singapore, $10.4B)
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.
Grab (2012, Singapore)
$375M - Series H - Jul 2021
Grab (2012, Singapore)
$300M - Series H - Jan 2021
GCash (2015, Philippines)
$175M - Series D - Jan 2021
Lydia (2013, France)
$100M - Series C - Dec 2021
RecargaPay (2010, Brazil)
$70.0M - Series C - Feb 2021
MOVii (2002, Colombia)
$15.0M - Series B - Oct 2021
TAG (2020, Pakistan)
$12.0M - Seed - Sep 2021
View all 17 Funding Rounds on Tracxn Platform

29. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
International Business Payments
21
29
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.0B (▲203%)
12(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$2.4B
32
1
91
13
Payments (Grab)
(# Cos: 12622 | $125B)
Business Payments (Square)
(# Cos: 6915 | $32.9B)
Online Payments (PayPal)
(# Cos: 2578 | $8.7B)
International (Payoneer)
(# Cos: 91 | $2.4B)
Payoneer
(2005, United States, $269M)
Flywire
(2009, United States, $263M)
Rapyd
(2016, United States, $760M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Rapyd (2016, United States)
$300M - Series E - Aug 2021
Rapyd (2016, United States)
$300M - Series D - Jan 2021
Airwallex (2015, Australia)
$200M - Series E - Sep 2021
Airwallex (2015, Australia)
$100M - Series E - Nov 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
View all 12 Funding Rounds on Tracxn Platform

30. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Robo Advisor Investment Platforms
22
30
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$965M (▲139%)
29(▲11.5%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
24
$2.8B
131
1
334
32
Investment Tech (Robinhood)
(# Cos: 19657 | $56.5B)
Wealth Management Platforms (Betterment)
(# Cos: 3825 | $10.9B)
Robo Advisors (Scalable Capital)
(# Cos: 471 | $4.2B)
Horizontal (Stash)
(# Cos: 334 | $2.8B)
Stash
(2015, United States, $448M)
Scalable Capital
(2014, Germany, $320M)
Fisdom
(2015, India, $23.6M)
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 (2018, United States)
$58.0M - Series B - Jul 2021
View all 29 Funding Rounds on Tracxn Platform

31. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Lenders
23
31
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$965M (▲141%)
4(▲33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$7.8B
26
2
198
11
Alternative Lending (Klarna)
(# Cos: 11076 | $78.7B)
Online Lenders (Affirm)
(# Cos: 7962 | $70.6B)
Diversified (Lending Club)
(# Cos: 793 | $11.8B)
Direct Lender (SoFi)
(# Cos: 198 | $7.8B)
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)
$300M - Series D - Nov 2021
Mynt (2015, Philippines)
$175M - Series A - Jan 2021
MNT Halan (2017, Egypt)
$120M - Series A - Aug 2021

32. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Socure (2012, United States)
$450M - Series E - Nov 2021
Advance (2015, China)
$200M - Series D - Sep 2021
Alloy (2015, United States)
$100M - Series C - Sep 2021
Socure (2012, United States)
$100M - Series D - Mar 2021
Hummingbird (2016, United States)
$30.0M - Series B - Nov 2021
Seon (2015, Hungary)
$12.0M - Series A - Mar 2021
PassFort Lim.. (2015, United Kingdom)
$11.3M - Series A - Sep 2021
View all 17 Funding Rounds on Tracxn Platform
KYC Solutions for Banks
24
32
Back to index
Banking Tech (Nubank)
(# Cos: 6314 | $53.8B)
RegTech (Onfido)
(# Cos: 789 | $6.3B)
Onboarding KYC and AML (Alloy)
(# Cos: 322 | $2.0B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$920M (▲883%)
17(▲21.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
45
$2.0B
123
3
322
21
Alloy
(2015, United States, $156M)
IDnow
(2014, Germany, $40.0M)
Signicat
(2007, Norway, $2.1M)
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
Social Trading Platforms
25
33
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$914M (▲907%)
11(▲83.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$1.3B
39
1
151
7
Investment Tech (Fidelity Investments)
(# Cos: 19657 | $56.5B)
Online Trading Platforms (Robinhood)
(# Cos: 8617 | $23.8B)
Stocks (Ally)
(# Cos: 1929 | $7.2B)
Social Trading (eToro)
(# Cos: 151 | $1.3B)
eToro
(2007, Cyprus, $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, Cyprus)
$650M - Series F - Mar 2021
Public (2017, United States)
$220M - Series D - Feb 2021
CommonStock (2001, United States)
$25.0M - Series A - Oct 2021
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 11 Funding Rounds on Tracxn Platform

34. 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
26
34
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$907M (▲246%)
32(▲52.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$1.7B
61
-
160
23
Banking Tech (Fiserv)
(# Cos: 6314 | $53.8B)
Internet First Banks (Nubank)
(# Cos: 1197 | $24.5B)
Through Bank Partnerships (Chime)
(# Cos: 837 | $8.9B)
Business Banking (Open)
(# Cos: 160 | $1.7B)
Open
(2017, India, $137M)
Novo
(2016, United States, $47.4M)
Mercury
(2017, United States, $146M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Rho Business .. (2010, United States)
$130M - Series B - Sep 2021
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)
$100M - Series C - Sep 2021
Rho Business .. (2010, United States)
$75.0M - Series B - Dec 2021
Aspire (2015, Singapore)
$58.6M - Series B - Sep 2021
View all 32 Funding Rounds on Tracxn Platform

35. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Working Capital Loans
Marketplaces
27
35
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$870M (▲4838%)
14(▲75%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$1.8B
65
1
181
13
Alternative Lending (Klarna)
(# Cos: 11076 | $78.7B)
Online Lenders (Affirm)
(# Cos: 7962 | $70.6B)
Business Loans (Funding Circle)
(# Cos: 2308 | $18.1B)
Working Capital Loans (Kabbage)
(# Cos: 263 | $2.8B)
Marketplace (OfBusiness)
(# Cos: 181 | $1.8B)
OfBusiness
(2015, India, $892M)
October
(2014, France, $391M)
Numida
(2015, Uganda, $2.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
OfBusiness (2015, India)
$325M - Series G - Dec 2021
OfBusiness (2015, India)
$207M - Series F - Sep 2021
OfBusiness (2015, India)
$160M - Series E - Jul 2021
OfBusiness (2015, India)
$110M - Series D - Mar 2021
Progcap (2016, India)
$30.0M - Series C - Sep 2021
Progcap (2016, India)
$25.0M - Series B - Jun 2021
FilmHedge (2020, United States)
$5.0M - Seed - Dec 2021
View all 14 Funding Rounds on Tracxn Platform

36. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Banking Software Suite
28
36
Back to index
Banking Tech (Nubank)
(# Cos: 6314 | $53.8B)
Banking Software Suite (Fiserv)
(# Cos: 534 | $2.6B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$868M (▲2736%)
19(▲46.2%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
32
$2.6B
116
21
534
17
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
Pismo (2016, Brazil)
$108M - Series B - Oct 2021
TYME (2012, South Africa)
$70.0M - Series B - Dec 2021
FintechOS (2017, United Kingdom)
$60.0M - Series B - Apr 2021
MANTL (2016, United States)
$40.0M - Series B - Apr 2021
View all 19 Funding Rounds on Tracxn Platform

37. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Tipalti (2010, United States)
$270M - Series F - Dec 2021
Airwallex (2015, Australia)
$200M - Series E - Sep 2021
XTransfer (2017, China)
$138M - Series D - Sep 2021
Airwallex (2015, Australia)
$100M - Series E - Nov 2021
Airwallex (2015, Australia)
$100M - Series D - Mar 2021
AZA (2015, Kenya)
$20.0M - Series B - May 2021
Currenxie (2014, China)
$10.0M - Series A - Aug 2021
View all 15 Funding Rounds on Tracxn Platform
B2B Remittance
29
37
Back to index
Remittance (Flywire)
(# Cos: 1998 | $9.4B)
Internet First Platforms (Remitly)
(# Cos: 1595 | $7.8B)
B2B Remittance (Payoneer)
(# Cos: 213 | $2.6B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$854M (▲51.9%)
15(▼11.8%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
15
$2.6B
58
2
213
20
Payoneer
(2005, United States, $269M)
Flywire
(2009, United States, $263M)
Tipalti
(2010, United States, $553M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

38. 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
Flinks (2016, Canada)
$23.7M - Series B - Aug 2021
Orum (2019, United States)
$21.0M - Series A - Apr 2021
View all 26 Funding Rounds on Tracxn Platform
Open Banking Aggregation APIs
30
38
Back to index
Banking Tech (Nubank)
(# Cos: 6314 | $53.8B)
Open Banking (Tink)
(# Cos: 494 | $5.3B)
Aggregation APIs (Plaid)
(# Cos: 199 | $1.5B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$850M (▲735%)
26(▲13%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
17
$1.5B
77
-
199
25
Plaid
(2013, United States, $734M)
TrueLayer
(2016, United Kingdom, $273M)
Finicity
(1999, United States, $80.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

39. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Residential Mortage Loans
31
39
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$823M (▲18%)
7(▲75%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$2.2B
21
-
91
7
Alternative Lending (Klarna)
(# Cos: 11076 | $78.7B)
Online Lenders (Affirm)
(# Cos: 7962 | $70.6B)
Mortgages (Divvy)
(# Cos: 739 | $4.4B)
Residential (Figure)
(# Cos: 414 | $3.4B)
Direct Lender (Better Mortgage)
(# Cos: 91 | $2.2B)
Better Mortgage
(2016, United States, $980M)
Figure
(2018, United States, $428M)
Molo
(2017, United Kingdom, $368M)
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
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
Youple (2015, Sweden)
$3.3M - Series A - Nov 2021
Hejmo (2018, Sweden)
$2.9M - Seed - Jul 2021

40. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Business Loans
Marketplace
32
40
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$772M (▲514%)
31(▲19.2%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
11
$3.0B
134
2
526
43
Alternative Lending (Klarna)
(# Cos: 11076 | $78.7B)
Online Lenders (Affirm)
(# Cos: 7962 | $70.6B)
Business Loans (OfBusiness)
(# Cos: 2308 | $18.1B)
Diversified (FlexiLoans)
(# Cos: 739 | $5.5B)
Marketplace (Funding Circle)
(# Cos: 526 | $3.0B)
Funding Circle
(2010, United States, $373M)
FlexiLoans
(2015, India, $68.0M)
KredX
(2015, India, $33.0M)
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
CredAvenue (2017, India)
$90.0M - Series A - Sep 2021
Validus (2015, Singapore)
$37.5M - Series B - May 2021
Northmill (2006, Sweden)
$30.0M - Series B - Feb 2021
Butn (2018, Australia)
$12.5M - Series B - Apr 2021
neocredit.ch (2018, Switzerland)
$11.2M - Series B - Jun 2021
View all 31 Funding Rounds on Tracxn Platform

41. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Accounts Payables Payment Solutions
33
41
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$772M (▲116%)
9(▲28.6%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
10
$1.7B
20
1
77
7
Payments (Grab)
(# Cos: 12622 | $125B)
Business Payments (PayPal)
(# Cos: 6915 | $32.9B)
Mass Payouts (Tipalti)
(# Cos: 465 | $3.8B)
Invoice Payments (Zuora)
(# Cos: 437 | $2.9B)
Accounts Payables (FLEETCOR)
(# Cos: 77 | $1.7B)
FLEETCOR
(2000, United States, $211M)
Tipalti
(2010, United States, $553M)
Nvoicepay
(2009, United States, $28.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Tipalti (2010, United States)
$270M - Series F - Dec 2021
Melio Payments (2018, United States)
$250M - Series D - Sep 2021
Melio Payments (2018, United States)
$110M - Series C - Jan 2021
Modern Treasury (2018, United States)
$85.0M - Series C - Oct 2021
Modern Treasury (2018, United States)
$38.0M - Series B - Jan 2021
Finexio (2015, United States)
$8.0M - Series B - Aug 2021
Billhop (2011, Sweden)
$4.9M - Series A - Feb 2021
View all 9 Funding Rounds on Tracxn Platform

42. 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
isaac (2020, Brazil)
$125M - Series B - Nov 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
View all 21 Funding Rounds on Tracxn Platform
Financial Planning & Analysis Software
34
42
Back to index
Finance & Accounting Tech (Fiserv)
(# Cos: 11178 | $33.2B)
Financial Planning & Analysis (Carta)
(# Cos: 1241 | $5.1B)
Suite (Anaplan)
(# Cos: 329 | $2.4B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$745M (▲7502%)
21(▲133%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
33
$2.4B
85
1
329
14
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.

43. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Solarisbank (2016, Germany)
$224M - Series D - Jul 2021
Railsbank (2015, United Kingdom)
$70.0M - Series C - Jul 2021
Prime Trust (2004, United States)
$64.0M - Series A - Jul 2021
Unit (2019, United States)
$51.0M - Series B - Jun 2021
Yapily (2017, United Kingdom)
$51.0M - Series B - Jul 2021
Enfuce (2016, Finland)
$50.9M - Series C - Dec 2021
QI Tech (2018, Brazil)
$50.0M - Series A - Nov 2021
View all 53 Funding Rounds on Tracxn Platform
Open Banking API Providers
35
43
Back to index
Banking Tech (Nubank)
(# Cos: 6314 | $53.8B)
Open Banking (Plaid)
(# Cos: 494 | $5.3B)
Banking APIs (Tink)
(# Cos: 244 | $3.0B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$713M (▲45.4%)
53(▲6%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
15
$3.0B
107
-
244
40
Tink
(2012, Sweden, $359M)
Cashfree
(2015, India, $42.0M)
Cross River Bank
(2008, United States, $228M)
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
Core Banking Platforms
36
44
Back to index
Banking Tech (Nubank)
(# Cos: 6314 | $53.8B)
Core Banking Platforms (Alkami)
(# Cos: 249 | $1.7B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$711M (▲107%)
10(▲42.9%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
18
$1.7B
55
7
249
10
Alkami
(2009, United States, $421M)
Mambu
(2011, Germany, $446M)
Thought Machine
(2014, United Kingdom, $349M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Mambu (2011, Germany)
$266M - Series E - Dec 2021
Thought Mach.. (2014, United Kingdom)
$200M - Series C - Sep 2021
Mambu (2011, Germany)
$135M - Series D - Jan 2021
Nymbus (2015, United States)
$53.0M - Series C - Feb 2021
Finxact (2016, United States)
$32.8M - Series B - Feb 2021
Nymbus (2015, United States)
$15.0M - Series C - Apr 2021
Nymbus (2015, United States)
$5.0M - Series C - Jun 2021
View all 10 Funding Rounds on Tracxn Platform

45. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Business Loans
37
45
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$682M (▲40.9%)
17(▲143%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$2.5B
48
3
209
21
Alternative Lending (Klarna)
(# Cos: 11076 | $78.7B)
Online Lenders (Affirm)
(# Cos: 7962 | $70.6B)
Business Loans (OfBusiness)
(# Cos: 2308 | $18.1B)
Diversified (Funding Circle)
(# Cos: 739 | $5.5B)
Direct Lender (Lendingkart)
(# Cos: 209 | $2.5B)
Lendingkart
(2014, India, $231M)
Fundbox
(2013, United States, $730M)
NeoGrowth
(2013, India, $95.1M)
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
Konfío (2014, Mexico)
$110M - Series E - Sep 2021
Fundbox (2013, United States)
$100M - Series D - Nov 2021
Clear (2011, India)
$75.0M - Series C - Oct 2021
Charter Schoo.. (2006, United States)
$32.0M - Series B - May 2021
Xepelin (2019, Chile)
$30.0M - Series A - Jul 2021
View all 17 Funding Rounds on Tracxn Platform

46. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Insurance Agency Management
38
46
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$680M (▲499%)
10(▼16.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
23
$1.2B
67
-
275
8
Insurance IT (CoreLogic)
(# Cos: 2419 | $9.9B)
Insurance Policy Solutions (Guidewire)
(# Cos: 1558 | $5.5B)
Software for Insurance Intermediaries
(Fuse)
(# Cos: 384 | $1.4B)
Insurance Agency Management
(Wefox)
(# Cos: 275 | $1.2B)
Wefox
(2015, Germany, $1.0B)
Agentero
(2017, United States, $23.5M)
Wunderite
(2015, United States, $3.0M)
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
Veruna (2015, United States)
$6.0M - Series A - Mar 2021
MeetLeo (2019)
$5.0M - Seed - Nov 2021
Wunderite (2015, United States)
$3.0M - Seed - Apr 2021
Surer (2017, Singapore)
$1.0M - Seed - Oct 2021
OneAssure (2019, India)
$660K - Seed - Dec 2021
View all 10 Funding Rounds on Tracxn Platform

47. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Payment Fraud Monitoring Solutions
39
47
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$678M (▲122%)
18( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
44
$3.4B
123
4
276
33
Payments (Grab)
(# Cos: 12622 | $125B)
Enablers (Fiserv)
(# Cos: 1600 | $17.5B)
Payment Security (Jumio)
(# Cos: 456 | $9.3B)
Payment Fraud Detection
(Riskified)
(# Cos: 276 | $3.4B)
Riskified
(2012, United States, $229M)
Feedzai
(2009, United Kingdom, $282M)
Trulioo
(2011, Canada, $477M)
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
Arkose Labs (2013, United States)
$70.0M - Series C - May 2021
Justt (2020, Israel)
$50.0M - Series B - Nov 2021
Sift (2011, United States)
$50.0M - Series D - Apr 2021
Hummingbird (2016, United States)
$30.0M - Series B - Nov 2021
View all 18 Funding Rounds on Tracxn Platform

48. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Payment Transaction Monitoring
40
48
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$647M (▲320%)
11(▲10%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
30
$2.2B
78
4
202
20
RegTech (Onfido)
(# Cos: 2471 | $14.9B)
Fraud Detection (Elliptic)
(# Cos: 585 | $6.4B)
Transaction Monitoring (Featurespace)
(# Cos: 504 | $5.1B)
Industry Specific (Simplex)
(# Cos: 265 | $3.0B)
Payments (Riskified)
(# Cos: 202 | $2.2B)
Riskified
(2012, United States, $229M)
Simplex
(2014, Israel, $19.0M)
Signifyd
(2011, United States, $394M)
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
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
Nethone (2016, Poland)
$6.7M - Series A - Jul 2021
View all 11 Funding Rounds on Tracxn Platform

49. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Global Proce.. (2007, United Kingdom)
$300M - Series D - Oct 2021
PPRO (2006, United Kingdom)
$270M - Series D - Jan 2021
ConnexPay (2017, United States)
$20.0M - Series B - Dec 2021
Pagos (2021, United States)
$10.0M - Seed - Oct 2021
Paysera (2004, Lithuania)
$8.6M - Series A - Jan 2021
QRails (2016, United States)
$7.8M - Series B - Jun 2021
NymCard (2016, United Arab Emirates)
$7.6M - Series A - Jan 2021
View all 8 Funding Rounds on Tracxn Platform
Payment Card Issuer Processors
41
49
Back to index
Payments (Grab)
(# Cos: 12622 | $125B)
Enablers (Fiserv)
(# Cos: 1600 | $17.5B)
Issuer Processor (Heartland Payment
Systems)
(# Cos: 231 | $2.7B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$631M (▲48.5%)
8(▼27.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
47
$2.7B
105
22
231
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.

50. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Invoice Processing Automation
42
50
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$623M (▼16.8%)
10(▼28.6%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$2.1B
33
1
218
8
Finance & Accounting Tech (Intuit)
(# Cos: 11178 | $33.2B)
Accounting Solutions (Fiserv)
(# Cos: 7481 | $21.7B)
Procure to Pay (FLEETCOR)
(# Cos: 1024 | $8.9B)
Account Payables (Nvoicepay)
(# Cos: 284 | $2.4B)
Invoice Processing (AvidXchange)
(# Cos: 218 | $2.1B)
AvidXchange
(2000, United States, $1.2B)
Melio Payments
(2018, United States, $506M)
Beanworks
(2012, Canada, $14.8M)
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
Plate IQ (2014, United States)
$160M - Series B - Nov 2021
Melio Payments (2018, United States)
$110M - Series C - Jan 2021
Stampli (2014, United States)
$50.0M - Series C - May 2021
Libeo (2019, France)
$24.2M - Series A - Feb 2021
Higo (2017, Mexico)
$23.0M - Series A - Sep 2021
Higo (2017, Mexico)
$3.3M - Seed - Mar 2021
View all 10 Funding Rounds on Tracxn Platform

51. 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
Enfuce (2016, Finland)
$50.9M - Series C - Dec 2021
Primer (2020, United Kingdom)
$50.0M - Series B - Oct 2021
Orum (2019, United States)
$21.0M - Series A - Apr 2021
View all 29 Funding Rounds on Tracxn Platform
Open Banking APIs for Payments
43
51
Back to index
Payments (Grab)
(# Cos: 12622 | $125B)
Enablers (Fiserv)
(# Cos: 1600 | $17.5B)
Open Banking APIs (TrueLayer)
(# Cos: 138 | $974M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$586M (▲345%)
29(▲16%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$974M
62
-
138
24
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.

52. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Payroll Payments Solutions
44
52
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$581M (▲1093%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$676M
9
-
17
2
Payments (Grab)
(# Cos: 12622 | $125B)
Business Payments (PayPal)
(# Cos: 6915 | $32.9B)
Mass Payouts (FLEETCOR)
(# Cos: 465 | $3.8B)
Payroll Payments (Deel)
(# Cos: 17 | $676M)
Deel
(2018, United States, $631M)
Exactuals
(2011, United States, $21.5M)
Gig Wage
(2014, United States, $16.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Deel (2018, United States)
$425M - Series D - Oct 2021
Deel (2018, United States)
$156M - Series C - Apr 2021
Gig Wage (2014, United States)
$2.5M - Series A - Jan 2021

53. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Tradeshift (2010, United States)
$200M - Series F - Dec 2021
Tradeshift (2010, United States)
$200M - Series F - Mar 2021
Settle (2019, United States)
$75.0M - Series B - Nov 2021
Routable (2017, United States)
$30.0M - Series B - Apr 2021
Yaydoo (2015, Switzerland)
$20.4M - Series A - Aug 2021
Green Invoice (2010, Israel)
$20.0M - Series B - Feb 2021
Settle (2019, United States)
$15.0M - Series A - May 2021
View all 15 Funding Rounds on Tracxn Platform
Accounts Payable and Receivable
Management
45
53
Back to index
Finance & Accounting Tech (FLEETCOR)
(# Cos: 11178 | $33.2B)
Accounting Solutions (Fiserv)
(# Cos: 7481 | $21.7B)
Account Payables & Receivables
(Bill.com)
(# Cos: 256 | $2.2B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$574M (▲89.2%)
15(▲150%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
17
$2.2B
57
4
256
8
Bill.com
(2006, United States, $317M)
Tradeshift
(2010, United States, $1.2B)
Viewpost
(2011, United States, $129M)
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
Internet First Auto Insurers
46
54
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$572M (▲289%)
22(▲83.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$1.8B
63
1
178
17
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3303 | $34.6B)
Internet First Insurers (Lemonade)
(# Cos: 1033 | $22.7B)
P&C (Acko)
(# Cos: 713 | $10.2B)
Auto (Zego)
(# Cos: 178 | $1.8B)
Zego
(2016, United Kingdom, $202M)
Acko
(2016, India, $512M)
Metromile
(2011, United States, $295M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Acko (2016, India)
$255M - Series D - Oct 2021
Clearcover (2016, United States)
$200M - Series D - Apr 2021
Zego (2016, United Kingdom)
$150M - Series C - Mar 2021
Marshmallow (2017, United Kingdom)
$85.0M - Series B - Sep 2021
Justos (2020, Brazil)
$35.8M - Series A - Oct 2021
HDVI (2001, United States)
$32.5M - Series B - Aug 2021
Loop (2020, United States)
$21.0M - Series A - Sep 2021
View all 22 Funding Rounds on Tracxn Platform

55. 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
Built (2014, United States)
$125M - Series D - Sep 2021
Open Co (2021, Brazil)
$115M - Series D - Dec 2021
LoanPro (2006, United States)
$100M - Series A - Jul 2021
Built (2014, United States)
$88.0M - Series C - Feb 2021
Stavvy (2017, United States)
$40.0M - Series A - May 2021
KOMGO (2018, Switzerland)
$28.9M - Series B - May 2021
View all 26 Funding Rounds on Tracxn Platform
Loan Life Cycle Management
47
55
Back to index
Banking Tech (Nubank)
(# Cos: 6314 | $53.8B)
Loan Life Cycle Management (TransUnion)
(# Cos: 1564 | $6.1B)
Suite (Blend)
(# Cos: 497 | $1.9B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$571M (▲469%)
26(▲136%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
42
$1.9B
132
10
497
25
Blend
(2012, United States, $685M)
Built
(2014, United States, $265M)
Black Knight
(1962, United States)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

56. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Cap Table Management
48
56
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$559M (▲146%)
14(▲75%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$1.3B
31
-
50
8
Finance & Accounting Tech (Fiserv)
(# Cos: 11178 | $33.2B)
Financial Planning & Analysis (Anaplan)
(# Cos: 1241 | $5.1B)
Equity Administration (Ledgy)
(# Cos: 90 | $1.3B)
Cap Table Management (Carta)
(# Cos: 50 | $1.3B)
Carta
(2012, United States, $1.2B)
Ledgy
(2017, Switzerland, $11.1M)
Qapita
(2019, Singapore, $21.8M)
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
Qapita (2019, Singapore)
$15.0M - Series A - Oct 2021
Ledgy (2017, Switzerland)
$10.0M - Series A - Sep 2021
Globacap (2017, United Kingdom)
$9.0M - Series A - Feb 2021
Quotabook (2019, South Korea)
$5.0M - Series A - Aug 2021
Qapita (2019, Singapore)
$5.0M - Seed - Apr 2021
Vertalo (2017, United States)
$5.0M - Series A - May 2021
View all 14 Funding Rounds on Tracxn Platform

57. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Socure (2012, United States)
$450M - Series E - Nov 2021
Socure (2012, United States)
$100M - Series D - Mar 2021
Socure (2012, United States)
Undisclosed - Series D - Jun 2021
Vendor Risk Management
49
57
Back to index
Finance & Accounting Tech (Fiserv)
(# Cos: 11178 | $33.2B)
Risk & Compliance Management (Ebury)
(# Cos: 28 | $965M)
Vendor Risk (Socure)
(# Cos: 14 | $840M)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$550M (▲688%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$840M
6
-
14
4
Socure
(2012, United States, $650M)
RapidRatings
(2002, United States, $54.9M)
Digital Comply
(2003, United States, $45.6M)
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
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
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
Tameeni (2019, Saudi Arabia)
$24.0M - Series B - Nov 2021
View all 30 Funding Rounds on Tracxn Platform
Insurance Comparison Platforms
50
58
Back to index
Internet First Insurance Platforms (Lemonade)
(# Cos: 3303 | $34.6B)
Insurance Comparison Platforms (Borrowell)
(# Cos: 1807 | $10.7B)
Diversified (Policybazaar)
(# Cos: 789 | $7.0B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$545M (▲22.8%)
30(▲25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
68
$7.0B
212
12
789
35
Policybazaar
(2008, India, $637M)
NerdWallet
(2009, United States, $123M)
Policygenius
(2014, United States, $163M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

59. FinTech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Recent funding rounds
Investment Trends
Most Active Investors
Top Funded Business Models
Explore more on Tracxn
All Tech Companies
US Tech Companies
Online Travel Companies
Companies using AI in Healthcare
Companies founded by Stanford GSB Alumni
Soonicorn club in Fintech
Analyst Picks in Israel Tech
Key News in FinTech
Events in Bay Area
Angel Investors in United States
Bluebox
Companies Investment Activity
Miscellaneous
Company Detail Page of DoorDash
Competitors of Freshworks
Cap Table for TransferWise
Financials for Ola
Employee Count for Revolut
Company Due Diligence Exits
Public Companies
Acquired Companies
Most Active Acquirers
Reports
Delhivery - Company Report
Novel Foods - Business Model Report
HRTech - Feed Report
FinTech - Top Business Models Report
US Tech - Top Business Models Report
US Tech - Monthly Report
59

60. FinTech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Explore other Reports on Tracxn
HRTech
InsurTech
Food Tech
Novel Foods
Blockchain Network
P2P Remittance
Business Model Reports
FinTech Europe
Consumer Digital SEA
HiTech US
Feed Geo Reports
Company Reports
Monthly Unicorn Report
Unicorn Reports
Transferwise
Coursera
BigBasket
Feed Reports Top Business Models in PA
FinTech
Enterprise Applications
Artificial Intelligence
Geo Monthly Reports
US Tech
Europe Tech
China Tech
Top Business Models in Geo
India Tech
Israel Tech
UK & Ireland Tech
60

61. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Thank You
61
Any and all information either accessed from the website www.tracxn.com or having otherwise originated from Tracxn Technologies Limited including but not limited to the information
contained herein ("Data") is the sole property of Tracxn Technologies Limited (hereinafter "Tracxn"). You shall not recirculate, distribute, transmit, publish, or sell the Data or any portion
thereof in any form or by any means, either for commercial or non-commercial use, or permit any third party to use or distribute the Data or any portion thereof; to any other party, except
with the prior written consent of Tracxn. You may however incorporate insubstantial portions, extracts, abstracts or summaries from the Data into analysis, presentations or tools for your
customers or for your internal use, so long as Tracxn is clearly and visibly identified as the source of information.
For further information please refer to our Terms of Use at www.tracxn.com