At FintechLIVE, we maintain a list of 21st-century fintech unicorns* updated monthly (full list here). In November, we added just 3 new unicorns compared to 6 last month. But we achieved a new milestone surpassing the $1 TRILLION-mark in total valuation among the 120 public and private financial technology companies.
Unicorn count:
Beginning = 118
+ 3 born this month
– 1 whose valuation dropped below $1B (Qiwi)
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Total = 120
Total valuation = $1.1 trillion
New in November:
Newborns:
- Verafin, the Canadian anti-financial crime specialist founded in 2003, is set to be acquired by NASDAQ for US$2.75 billion in cash. This is the third Canadian unicorn and the second largest from the country.
- Metromile, the pay-as-you-drive auto insurance company based in Portland, Oregon, announced that it will merge with a public SPAC in a transaction valued at $1.3B. The company was founded in 2011.
- Expensify. The popular Finovate demo company founded in 2008 by David Barrett, announced that it had achieved the $100M ARR (annual run rate) milestone, with a 25% EBITDA. While there was no new round to establish a valuation, given its growth and comparing it to peers, we estimate it would command at least a $1B valuation. All the more impressive given its total funding to date of $20M and an employee count of 130.
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Full Fintech Unicorn list (values as of 2 Dec 2020)
| Rank | Company | $B Value | Value Date/Source | Founded | Country |
| 1 | PayPal | $249 | 2-Dec-2020 | 1999 | United States |
| 2 | Ant Technology | 150 | 2018 round | 2014 | China |
| 3 | Square | 89.7 | 2-Dec-2020 | 2009 | United States |
| 4 | Adyen | 58.5 | 2-Dec-2020 | 2006 | Netherlands |
| 5 | Lufax | 37.3 | 2-Dec-2020 | 2011 | China |
| 6 | Stripe | 35.0 | April 2020 round | 2010 | United States |
| 7 | Afterpay | 28.2 | 2-Dec-2020 | 2014 | Australia |
| 8 | Lakala | 27.2 | 2-Dec-2020 | 2004 | China |
| 9 | Stone | 21.9 | 2-Dec-2020 | 2013 | Brazil |
| 10 | WeBank | 21.2 | Nov 2018 trans | 2014 | China |
| 11 | Xero | 19.2 | 2-Dec-2020 | 2006 | New Zealand |
| 12 | One97 (PayTM) | 16.0 | Nov 2019 round | 2010 | India |
| 13 | Chime | 14.5 | Sep 2020 round | 2013 | United States |
| 14 | Robinhood | 11.7 | Sep 2020 round | 2013 | United States |
| 15 | Klarna | 10.6 | Sep 2020 round | 2005 | Sweden |
| 16 | Nubank | 10.0 | July 2019 round | 2013 | Brazil |
| 17 | Ripple | 10.0 | Dec 2019 round | 2012 | United States |
| 18 | Bill.com | 9.7 | 2-Dec-2020 | 2006 | United States |
| 19 | Nuvei | 8.4 | 2-Dec-2020 | 2003 | Canada |
| 20 | OneConnect/PingAn | 8.1 | 2-Dec-2020 | 2015 | China |
| 21 | Coinbase | 8.0 | Oct 2018 round | 2012 | United States |
| 22 | Jiedaibao | 7.8 | Jan 2016 round | 2014 | China |
| 23 | nCino | 7.4 | 2-Dec-2020 | 2012 | United States |
| 24 | Credit Karma | 7.1 | Exit | 2007 | United States |
| 25 | Q2 Holdings | 6.2 | 2-Dec-2020 | 2004 | United States |
| 26 | Greensill | 6.0 | Nov 2019 round | 2011 | UK |
| 27 | Root Insurance | 5.8 | Oct 2020 IPO | 2016 | United States |
| 28 | Duck Creek | 5.6 | 2-Dec-2020 | 2000 | United States |
| 29 | HealthEquity | 5.5 | 2-Dec-2020 | 2002 | United States |
| 30 | Checkout.com | 5.5 | June 2020 round | 2012 | UK |
| 31 | Revolut | 5.5 | Feb 2020 round | 2015 | UK |
| 32 | Plaid Technologies | 5.3 | Exit | 2012 | United States |
| 33 | Affirm | 5.0 | TechCrunch | 2012 | United States |
| 34 | TransferWise | 5.0 | June 2020 round | 2011 | UK |
| 35 | Toast | 4.9 | Feb 2020 round | 2011 | United States |
| 36 | Virtu Financial | 4.5 | 2-Dec-2020 | 2008 | United States |
| 37 | Marqeta | 4.3 | May 2020 round | 2010 | United States |
| 38 | SoFi | 4.3 | May 2019 round | 2011 | United States |
| 39 | Lemonade | 4.0 | 2-Dec-2020 | 2015 | United States |
| 40 | Better.com | 4.0 | Sep 2020 round | 2016 | United States |
| 41 | Gusto | 3.8 | July 2019 round | 2011 | United States |
| 42 | Tinkoff Bank | 3.8 | 2-Dec-2020 | 2006 | Russia |
| 43 | N26 | 3.5 | May 2020 round | 2013 | Germany |
| 44 | Assurance | 3.5 | Exit | 2016 | United States |
| 45 | Cardlytics | 3.2 | 2-Dec-2020 | 2008 | United States |
| 46 | Oscar Health | 3.2 | Mar 2018 round | 2012 | United States |
| 47 | China UnionPay | 3.0 | Crunchbase | 2002 | China |
| 48 | Circle Financial | 3.0 | May 2018 round | 2013 | United States |
| 49 | Devoted Health | 3.0 | May 2020 round | 2017 | United States |
| 50 | OVO | 2.9 | Mar 2019 round | 2017 | Indonesia |
| 51 | GreenDot | 2.8 | 2-Dec-2020 | 1999 | United States |
| 52 | OakNorth | 2.8 | May 2019 round | 2015 | UK |
| 53 | Verafin | 2.8 | Exit Nov 2020 | 2003 | Canada |
| 54 | Brex | 2.6 | June 2020 round | 2017 | United States |
| 55 | Toss | 2.6 | Aug 2020 round | 2011 | South Korea |
| 56 | Lifelock | 2.3 | Exit | 2005 | United States |
| 57 | iZettle | 2.2 | Exit | 2010 | Sweden |
| 58 | Avant | 2.0 | Sep 2015 round | 2012 | United States |
| 59 | AvidXchange | 2.0 | Jan 2020 round | 2000 | United States |
| 60 | FirstP2P | 2.0 | Crunchbase | 2013 | China |
| 61 | Tipalti | 2.0 | Oct 2020 round | 2010 | United States |
| 62 | Waterdrop | 2.0 | Aug 2020 round | 2016 | China |
| 63 | Zenefits | 2.0 | May 2015 round | 2013 | United States |
| 64 | Airwallex | 1.8 | Apr 2020 round | 2015 | Australia |
| 65 | BillDesk | 1.8 | Nov 2018 round | 2000 | India |
| 66 | Blend | 1.7 | Aug 2020 round | 2012 | United States |
| 67 | Carta | 1.7 | May 2019 round | 2012 | United States |
| 68 | Wefox | 1.7 | Dec 2019 round | 2015 | Germany |
| 69 | Mercury | 1.7 | Exit | 2001 | United States |
| 70 | Monzo | 1.6 | May 2020 round | 2015 | UK |
| 71 | Fawry | 1.5 | 2-Dec-2020 | 2008 | Egypt |
| 72 | Hippo | 1.5 | July 2020 round | 2015 | United States |
| 73 | PineLabs | 1.5 | Jan 2020 round | 1998 | India |
| 74 | PolicyBazaar | 1.5 | May 2019 round | 2008 | India |
| 75 | Remitly | 1.5 | July 2020 round | 2011 | United States |
| 76 | WorldRemit | 1.5 | Bloomberg | 2010 | UK |
| 77 | GoHealth | 1.5 | Exit | 2001 | United States |
| 78 | Zuora | 1.4 | 2-Dec-2020 | 2007 | United States |
| 79 | CGTZ | 1.4 | June 2018 round | 2013 | China |
| 80 | Metromile | 1.3 | SPAC (announced) | 2011 | United States |
| 81 | Sezzle | 1.3 | 2-Dec-2020 | 2016 | United States |
| 82 | BillTrust | 1.3 | SPAC (announced) | 2001 | United States |
| 83 | Atom Bank | 1.3 | July 2019 round | 2014 | UK |
| 84 | Clover Health | 1.2 | Jan 2019 round | 2013 | United States |
| 85 | dLocal | 1.2 | Sep 2020 round | 2016 | Uruguay |
| 86 | Figure | 1.2 | Dec 2019 round | 2018 | United States |
| 87 | Greenlight | 1.2 | Sep 2020 round | 2014 | United States |
| 88 | Rapyd | 1.2 | Dec 2019 round | 2016 | UK |
| 89 | Galileo | 1.2 | Exit | 2000 | United States |
| 90 | Deposit Solutions | 1.1 | Sep 2019 round | 2011 | Germany |
| 91 | Tradeshift | 1.1 | May 2018 round | 2009 | United States |
| 92 | Cayan | 1.1 | Exit | 1998 | United States |
| 93 | C2FO | 1.0 | Apr 2019 round | 2008 | United States |
| 94 | Dave | 1.0 | June 2019 round | 2016 | United States |
| 95 | EBANX | 1.0 | Oct 2019 round | 2012 | Brazil |
| 96 | Fast | 1.0 | Oct 2020 rumors | 2019 | United States |
| 97 | Flywire | 1.0 | Feb 2020 round | 2011 | United States |
| 98 | HighRadius | 1.0 | Jan 2020 round | 2006 | United States |
| 99 | Interswitch | 1.0 | Nov 2019 round | 2002 | Nigeria |
| 100 | Judo Bank | 1.0 | May 2020 round | 2016 | Australia |
| 101 | LendingHome | 1.0 | Mar 2018 round | 2014 | United States |
| 102 | Liquid | 1.0 | Apr 2019 round | 2013 | Japan |
| 103 | Mollie | 1.0 | Sep 2020 round | 2004 | Netherlands |
| 104 | MoneyLion | 1.0 | July 2019 round | 2013 | United States |
| 105 | Neon Pagamentos | 1.0 | Estimate | 2016 | Brazil |
| 106 | Next Insurance | 1.0 | Oct 2019 round | 2016 | United States |
| 107 | Numbrs | 1.0 | Aug 2019 round | 1999 | Switzerland |
| 108 | Payoneer | 1.0 | Dec 2017 round | 2005 | United States |
| 109 | RazorPay | 1.0 | Oct 2020 round | 2014 | India |
| 110 | Riskified | 1.0 | Nov 2019 round | 2012 | United States |
| 111 | Trustly | 1.0 | Estimate | 2008 | Sweden |
| 112 | Upgrade | 1.0 | June 2020 round | 2016 | United States |
| 113 | Varo Money | 1.0 | Estimate | 2015 | United States |
| 114 | WealthSimple | 1.0 | Oct 2020 round | 2014 | Canada |
| 115 | WeLab | 1.0 | Dec 2019 round | 2013 | HongKong |
| 116 | Expensify | 1.0 | Estimate | 2008 | United States |
| 117 | ChromeRiver | 1.0 | Exit | 2007 | United States |
| 118 | Personal Capital | 1.0 | Exit | 2009 | United States |
| 119 | Finicity | 1.0 | Exit | 1999 | United States |
| 120 | Bright Health | 1.0 | Nov 2019 round | 2015 | United States |
*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
