Onfido has made CB Insights’ third annual FinTech 250. The 2020 list recognizes the best 250 private fintech companies in the world, which were whittled down from a pool of more than 16,000 applicants and nominees.
The final list was compiled by the CB Insights Intelligence Unit, based on criteria such as market potential, existing partnerships, the competitive landscape, and the quality of the company’s investors. Onfido was recognized for its strong 2020 performance, with year-over-year sales jumping 40 percent internationally (and 264 percent in the US) in its recent Q2 report. The company also brought in $100 million in a round of funding that closed in April.
Of course, this is not the first time that CB Insights has acknowledged Onfido’s myriad accomplishments. In March, the identity specialist was placed on CB Insights’ narrower AI 100 list, making the lineup of the world’s best AI startups for the second consecutive year.
“For financial service companies to build and expand in today’s climate, they need to be able to quickly and easily identity their customers in a remote setting,” said Onfido CEO and Co-Founder Husayn Kassai. “We’re excited to be recognized by CB Insights as one of the fastest growing fintech companies.”
The majority (54 percent) of the FinTech 250 are based in the US. The final roster includes 32 unicorns with a valuation greater than $1 billion, while the 250 companies have collectively raised more than $10.3 billion in equity funding in 2020.
“The previous Fintech 250 class raised more than $22 billion in investor financing and saw more than 20 exits after being recognized, and we expect this year’s class will have similar success as they continue to transform how people and businesses spend, save, borrow, and invest their money,” added CB Insights CEO Anand Sanwal.
Several Onfido customers (including WorldRemit) also made this year’s FinTech 250.
September 1, 2020 – by Eric Weiss