RANKED: The 27 fintech unicorns from around the world
=27. Symphony — $1 billion
=27. TongDun Technology — $1 billion
Value: $1 billion.
What it does: Risk control software.
Why it's hot: Singapore's sovereign investment vehicle Temasek Holdings led a $72.8 million funding round into the startup last October and the company works with over 7,000 institutions across China.
HQ: Hangzhou.
Founded: 2013.
Raised: $150 million.
=27. Funding Circle — $1 billion
Value: $1 billion.
What it does: Peer-to-peer marketplace for business loans.
Why it's hot: Over £3 billion has been lent across the platform and the company is tipped for a blockbuster European float later this year.
HQ: London.
Founded: 2009.
Raised: $413 million.
=27. Kabbage — $1 billion
Value: $1 billion.
What it does: Fast online small business loans.
Why it's hot: The company has written over $4 billion-worth of loans and has partnered with Spanish bank Santander.
HQ: Atlanta.
Founded: 2009.
Raised: $1.6 billion.
=27. 51 Credit — $1 billion
Value: $1 billion.
What it does: Online financial advisory.
Why it's hot: 51 Credit provides risk management and credit advisory services to over 20 major banks working in China, including Citibank and Standard Chartered.
HQ: Beijing.
Founded: 2005.
Raised: $94 million.
=27. Gusto — $1 billion
Value: $1 billion.
What it does: Cloud-based payroll, HR, and benefits services.
Why it's hot: The founders of Box, YouTube, Yelp, Yammer, and Zuora have all invested, alongside Google Ventures.
HQ: San Francisco.
Founded: 2011.
Raised: $178 million.
21. UiPath — $1.1 billion
Value: $1.1 billion.
What it does: A platform that lets businesses automate business processes and is used by finance firms.
Why it's hot: The company's valuation grew by 10X in just a year and investors include Accel, Google's CapitalG, and Kleiner Perkins Caulfield & Byers.
HQ: New York.
Founded: 2012.
Raised: $183 million.
=20. AvidXchange — $1.2 billion
Value: $1.2 billion.
What it does: Accountancy automation software.
Why it's hot: The company is backed by the likes of MasterCard and Singapore's Temasek, and has over 800 staff.
HQ: Charlotte.
Founded: 2000.
Raised: $547 million.
=20. Clover — $1.2 billion
Value: $1.2 billion.
What it does: Digital health insurance.
Why it's hot: The company may only deal with about 25,000 customers in New Jersey but it has attracted cash from Alphabet's GV and Sequoia Capital, the Silicon Valley venture capital firm that was an early backer of Google, Apple, and Facebook.
HQ: San Francisco.
Founded: 2013.
Raised: $425 million.
18. Robinhood — $1.3 billion
Value: $1.3 billion.
What it does: Free stock trading app.
Why it's hot: The app claims to have 4 million registered users and is said to be in talks for a funding round that would value it at over $5 billion.
HQ: San Francisco.
Founded: 2013.
Raised: $526 million.
17. Tuandaiwang — $1.4 billion
Value: $1.4 billion.
What it does: Peer-to-peer lending platform.
Why it's hot: The company has helped individuals and companies borrow $11.4 billion and helped lenders make $335 million in returns.
HQ: Dongguan.
Founded: 2012.
Raised: $380 million.
16. TransferWise — $1.6 billion
Value: $1.6 billion.
What it does: Online international money transfer with cheaper fees than banks.
Why it's hot: TransferWise moves £1.5 billion a month. Sir Richard Branson and Silicon Valley VC fund Andreessen Horowitz are both investors.
HQ: London.
Founded: 2010.
Raised: $397 million.
15. Revolut — $1.7 billion
Value: $1.7 billion.
What it does: Free foreign exchange and other banking services.
Why it's hot: The London startup has reached unicorn status, just 33 months after launch, and it boasts 2 million customers globally. It recently raised $250 million from Russian billionaire Yuri Milner, among others.
HQ: London.
Founded: 2015.
Raised: $336 million.
14. Affirm — $1.8 billion
Value: $1.8 billion.
What it does: A hire-purchase provider, letting people buy products and pay them off in installments.
Why it's hot: The company works with over 1,200 retailers in the US and its technology helps retailers increase average order sizes by 51%. Morgan Stanley and Singapore's GIC are both investors.
HQ: San Francisco.
Founded: 2012.
Raised: $720 million.
13. NuBank — $1-2 billion
Value: $1-2 billion.
What it does: Brazilian app-only bank.
Why it's hot: The bank has 3 million customers and has raised money from Sequoia Capital, Goldman Sachs, Tiger Global, and more.
HQ: Sao Paulo.
Founded: 2013.
Raised: $527 million.
12. Coinbase — $1.5 billion-$8 billion
Value: $1.5 billion-$8 billion (CB Insights lists Coinbase's value at $1.5 billion but recent stories suggest the company is trying to value itself at up to $8 billion.)
What it does: Cryptocurrency exchange and related services.
Why it's hot: The company reportedly had revenue of $1 billion last year and wants to become the Google of crypto.
HQ: San Francisco.
Founded: 2012.
Raised: $225.3 million.
11. Avant — $1.9 billion
Value: $1.9 billion.
What it does: Online personal loans.
Why it's hot: The company has lent over $1 billion and is backed by the likes of Tiger Global, KKR, and Jefferies.
HQ: Chicago.
Founded: 2012.
Raised: $1.8 billion.
10. Zenefits — $2 billion (as of Q2 2015)
Value: $2 billion.
What it does: Payroll, HR, health insurance, and compliance management software for small businesses. It offers its platform for free and makes money by charges health insurers a broker fee.
Why it's hot: Zenefits has actually seen its valuation drop by half in recent years after a scandal around licensing that led to its founder's resignation. However, new CEO Jay Fulcher appears to have steadied the ship.
HQ: San Francisco.
Founded: 2013.
Raised: $583 million.
9. Adyen — $2.3 billion
Value: $2.3 billion.
What it does: Payment platform that accepts multiple forms and methods of transaction.
Why it's hot: Facebook, Airbnb, Uber, SoundCloud, and Netflix are all customers. The company is tipped for an IPO this year.
HQ: Amsterdam.
Founded: 2006.
Raised: $266 million.
8. Klarna — $2.5 billion
Value: $2.5 billion.
What it does: User-friendly payment systems for mobile and web that lets people buy now and pay later.
Why it's hot: The company processes 800,000 transactions a day and has been used by 60 million people globally. Sequoia Capital, the Silicon Valley fund that backed PayPal, is an investor.
HQ: Stockholm.
Founded: 2005.
Raised: $636 million.
7. Oscar — $3.2 billion
Value: $3.2 billion.
What it does: Digital health insurance for the post-Obamacare era.
Why it's hot: The company took just 16 months to break the $1 billion valuation mark and backers include PayPal co-founder Peter Thiel, Goldman Sachs, and Li Ka-shing, Asia's richest man.
HQ: New York.
Founded: 2013.
Raised: $892 million.
6. GreenSky — $3.6 billion
Value: $3.6 billion.
What it does: Provides technology to banks that is used in processing loan applications.
Why it's hot: Steven McLaughlin, a former Goldman Sachs banker whose firm advised GreenSky on a funding deal, told Bloomberg in 2016 that GreenSky "is the single best fintech company created in the last 10 years, by far."
HQ: Atlanta.
Founded: 2006.
Raised: $350 million.
5. Credit Karma — $4 billion
Value: $4 billion.
What it does: Provides free online credit reports, offsetting the cost of paying for them with targeted advertising of financial products.
Why it's hot: Over 75 million people in the US and Canada have used the service. Google Capital is an investor.
HQ: San Francisco.
Founded: 2007.
Raised: $868 million.
4. SoFi — $4.5 billion
Value: $4.5 billion.
What it does: Peer-to-peer student loan refinancing, mortgages, and other types of personal loans.
Why it's hot: Like Zenefits, SoFi struggled with a slew of setbacks in 2017. Allegations of sexual misconduct and loan misstatements forced out founder Mike Cagney. Former Twitter CFO and ex-Goldman banker Anthony Noto is now leading a turnaround of the business.
HQ: San Francisco.
Founded: 2011.
Raised: $2.1 billion.
3. PayTm —$7 billion
Value: $7 billion.
What it does: Indian digital wallet provider.
Why it's hot: The company is the largest wallet provider in India, with over 230 million registered users.
HQ: Delhi.
Founded: 2010.
Raised: $320 million.
2. Stripe — $9.2 billion
Value: $9.2 billion.
What it does: Online payment processing, letting both businesses and companies accept payment over the internet.
Why it's hot: Fitbit, Pinterest, Twitter, Salesforce.com, Lyft, The Guardian, Kickstarter, and Reddit are some of the notable companies that use it.
HQ: San Francisco.
Founded: 2010.
Raised: $474 million.
1. Lu.com — $18.5 billion
Value: $18.5 billion.
What it does: Chinese peer-to-peer loans and financing platform.
Why it's hot: Lu.com, also known as Lufax, is one of China's largest online lenders and is tipped for an IPO this year.
HQ: Shanghai.
Founded: 2011.
Raised: $1.7 billion.
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