115 Fintech Unicorns of the 21st Century: Changes to the List (October 2020)

At FintechLIVE, we maintain a list of 21st century fintech unicorns* and update it at least monthly (full list here).

Unicorn count:

Beginning = 107
+ 6 unicorns (born this month)
+ 2 unicorns (born earlier, but just added to our list**)
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Total = 115

New in October:

Newborns:

• BillTrust: The accounts-receivables specialist announced it will go public in a $1.3B SPAC
• Fast: The e-commerce payment enabler launched in 2019, is said to be negotiating a new round at a $1B valuation
• Fawry: A year after going public, the Egyptian payments value first surpassed $1B in August (2020) and is worth $1.5B in trading today
• RazorPay: The Indian payment company announced a $100M round at a $1B valuation
• Tipalti: Accounts-payable specialist raised a $200M round valuing it at more than $2B
• WealthSimple: The second Canadian fintech unicorn achieved a $1.5B valuation on its $114M round

Previously unrecognized:

• HealthEquity: The HSA (Health Savings Account) giant went public in 2014 and is currently valued at $4B
• Tinkoff Bank (TCS: LI): Public company founded in 2006 serving the Russian market. Tinkoff currently has a market cap of $5.1B and was recently offered $5.5B by Yandex, though that deal ultimately fell through. Tinkoff has been valued at greater than a billion since 2016.

Other significant changes:

• Lufax: The Chinese online lender went public Oct 30 and is worth $30B based on current trading, a 20% decline from its latest private-company valuation of $39B
• Root: The high tech auto insurer went public Oct 28, and is now trading at a $5.8B valuation

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Full Fintech Unicorn list (values as of 2 Nov 2020)

Rank	Company	Value (US$ Billion)	Status
1	PayPal	$214	Public
2	Ant	150	Private
3	Square	70	Public
4	Adyen	54	Public
5	Stripe	35	Private
6	Lufax	30	Private
7	AfterPay	28	Public
8	Lakala	27	Public
9	WeBank	21	Private
10	One97 (PayTM)	16	Private
10	Stone	16	Public
10	Xero	16	Public
13	Chime	14.5	Private
14	Robinhood	12	Private
15	Klarna	11	Private
16	Nubank	10	Private
16	Ripple	10	Private
18	Coinbase	8.0	Private
19	Jiedaibao	7.8	Private
20	Bill.com	7.6	Public
21	OneConnect (PingAn)	7.4	Public
22	Nuvei	7.2	Public
23	Credit Karma	7.1	Exit
24	nCino	6.5	Public
25	Greensill	6.0	Private
26	Root Insurance	5.8	Private
27	Duck Creek Software	5.6	Public
28	Checkout.com	5.5	Private
28	Revolut	5.5	Private
30	Plaid	5.3	Exit
31	Tinkoff Bank	5.1	Public
32	Affirm	5.0	Private
32	Q2 Holdings	5.0	Public
32	TransferWise	5.0	Private
35	Toast	4.9	Private
36	Marqeta	4.3	Private
36	SoFi	4.3	Private
36	HealthEquity	4.3	Public
36	Virtu Financial	4.3	Public
40	Better.com	4.0	Private
41	Gusto	3.8	Private
42	Assurance	3.5	Exit
42	N26	3.5	Private
44	Lemonade	3.3	Public
45	Oscar Health	3.2	Private
46	BGL Group	3.0	Private
46	China UnionPay	3.0	Private
46	Circle Internet Financial	3.0	Private
46	Devoted Health	3.0	Private
50	GreenDot	2.9	Public
50	OVO	2.9	Private
52	OakNorth	2.8	Private
53	Brex	2.6	Private
53	Toss (Viva Republica)	2.6	Private
55	Lifelock	2.3	Exit
56	iZettle	2.2	Private
57	Cardlytics	2.1	Public
58	Avant	2.0	Private
58	AvidXchange	2.0	Private
58	FirstP2P	2.0	Private
58	Waterdrop	2.0	Private
58	Zenefits	2.0	Private
58	Tipalti	2.0	Private
64	Airwallex	1.8	Private
64	BillDesk	1.8	Private
66	Blend	1.7	Private
66	Carta	1.7	Private
66	Mercury	1.7	Exit
66	Wefox	1.7	Private
70	Monzo	1.6	Private
71	GoHealth	1.5	Exit
71	Hippo	1.5	Private
71	PineLabs	1.5	Private
71	PolicyBazaar	1.5	Private
71	Remitly	1.5	Private
71	WorldRemit	1.5	Private
71	Fawry	1.5	Public
78	CGTZ	1.4	Private
79	Atom Bank	1.3	Private
79	Sezzle	1.3	Public
79	BillTrust	1.3	Private
82	Clover Health	1.2	Private
82	dLocal	1.2	Private
82	Figure	1.2	Private
82	Galileo	1.2	Exit
82	Greenlight	1.2	Private
82	Rapyd	1.2	Private
82	Zuora	1.2	Public
89	Cayan	1.1	Exit
89	Deposit Solutions	1.1	Private
89	Tradeshift	1.1	Private
92	C2FO	1.0	Private
92	ChromeRiver	1.0	Exit
92	Dave	1.0	Private
92	EBANX	1.0	Private
92	Finicity	1.0	Exit
92	Flywire	1.0	Private
92	HighRadius	1.0	Private
92	Interswitch	1.0	Private
92	Judo Bank	1.0	Private
92	LendingHome	1.0	Private
92	Liquid	1.0	Private
92	Mollie	1.0	Private
92	MoneyLion	1.0	Private
92	Neon Pagamentos	1.0	Private
92	Next Insurance	1.0	Private
92	Numbrs	1.0	Private
92	Payoneer	1.0	Private
92	PersonalCapital	1.0	Exit
92	Riskified	1	Private
92	Trustly	1	Private
92	Upgrade	1	Private
92	Varo Money	1	Private
92	WeLab	1	Private
92	RazorPay	1	Private
92	WealthSimple	1	Private

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*To qualify, a company must have been founded in 2000 or later (OK, we have a couple of 1999s too, just so we can keep PayPal on the list) and have its primary business related to financial services including banking, savings, lending, investing, insurance, wealth management, SMB accounting and payroll. We do not include health insurance companies. Services can be sold directly to consumers or through financial institutions or other companies. Full list here.
** If you know any missing unicorns, please email jim@fintechlabs.com