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1. TRACXN TOP BUSINESS MODELS REPORT
March 11, 2022
FINTECH

2. FinTech - Top Business Models Report Copyright © 2022, 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 © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Funding in last 1 year
3
Payments $28.1B
Banking Tech $19.5B
Alternative Lending $17.6B
Investment Tech $17.0B
Cryptocurrencies $15.9B
Finance & Accounting Tech $13.6B
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
Global Founders Capital
AU21 Capital
189
37
37
Early
Stage
Tiger Global Management
Andreessen Horowitz
Sequoia Capital
50
38
37
Late
Stage
Tiger Global Management
Sequoia Capital
Accel
52
35
31
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
United States (39%)
United Kingdom (13%)
India (8%)
France (4%)
China (3%)
Germany (3%)
Canada (3%)
Others (26%)
$ Funding # Rounds
FWD
(2013, China)
$1.4B - PE
FNZ
(2003, United Kingdom)
$1.4B - PE
Devoted Health
(2017, United States)
$1.1B - Series D
Paytm
(2009, India)
$1.1B - Series H
Checkout
(2012, United Kingdom)
$1.0B - Series D
FTX
(2018, Bahamas)
$900M - Series B
Trade Republic
(2015, Germany)
$900M - Series C
N26
(2013, Germany)
$900M - Series E
SumUp
(2012, United Kingdom)
$895M - Series D
insightsoftware
(2001, United States)
$800M - PE
Mollie
(2004, Netherlands)
$800M - Series C
Revolut
(2015, United Kingdom)
$800M - Series E

4. Copyright © 2022, 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▲6 Business Payments Solutions $4.8B 52 Checkout | $1.0B | Series D Link
2▼1 Cryptocurrency Trading Platforms $4.5B 67 FTX | $900M | Series B Link
3▲2 Digital Native Banks $3.6B 15 N26 | $900M | Series E Link
4▼1 Internet First Point of Sale Financing $3.1B 42 Klarna | $639M | Series H Link
5▼3 Digital Wallets $2.9B 57 Paytm | $1.1B | Series H Link
6▲26
Internet First Banks for Businesses with Partner
Bank's License
$2.9B 47 Qonto | $552M | Series D Link
7▼3
Internet First Retail Banks with Partner Bank's
License
$2.8B 73 Chime | $750M | Series G Link
8▲38 Corporate Travel & Expense Cards $2.7B 35 Brex | $425M | Series D Link
9▲104 POS Payment Terminals $2.4B 23 SumUp | $895M | Series D Link
10▼1 Online Business Payments $2.2B 74 Mollie | $800M | Series C Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2022, 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▲31 Internet First Corporate Credit Card Issuers $2.0B 27 Brex | $425M | Series D Link
12▼6 Internet First Health Insurers $1.6B 17 Devoted Health | $1.1B | Series D Link
13▲11 KYC for Financial Institutions $1.6B 37 Socure | $450M | Series E Link
14▼2 Internet-First Property and Casualty Insurers $1.5B 18 Wefox | $650M | Series C Link
15▲24 Payroll Management Solutions $1.5B 21 Deel | $425M | Series D Link
16▲20 Cryptocurrency Exchanges $1.5B 64 Blockchain | $300M | Series C Link
17▲28 P2P Wallet Remittance $1.4B 25 Mynt | $300M | Series D Link
18▼5 Retail Banking $1.2B 9 Varo | $510M | Series E Link
19▲2 Open Banking API Providers $1.1B 54 Solarisbank | $224M | Series D Link
20▲33 KYC Solutions for Banks $1.1B 18 Socure | $450M | Series E Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2022, 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▲5 B2B Remittance $857M 14 Tipalti | $270M | Series F Link
22▲45 Internet First Business Loans Marketplace $825M 28 MarketFinance | $383M | Series C Link
23▼13 Crypto Financial Services $822M 63 Paxos | $300M | Series D Link
24▲123 Crypto Based Personal Loans $792M 28 Celsius Network | $750M | Series B Link
25▲13 Social Trading Platforms for Stocks $767M 12 eToro | $650M | Series F Link
26▲46 Internet First Working Capital Loans Marketplaces $760M 14 OfBusiness | $325M | Series G Link
27▲80 Vendor Risk Management $750M 4 Socure | $450M | Series E Link
28▲22 Open Banking APIs for Payments $739M 35 TrueLayer | $130M | Series E Link
29▲72 Open Banking Aggregation APIs $739M 35 Plaid | $425M | Series D Link
30▼13 International Business Payments $729M 13 Rapyd | $300M | Series E Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2022, 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▲43 Insurance Agency Management $698M 13 Wefox | $650M | Series C Link
32▲22 Internet First Credit Cards $694M 18 Upgrade | $280M | Series F Link
33▲4 Payment Fraud Monitoring Solutions $690M 19 Trulioo | $394M | Series D Link
34▲44 Banking Software Suite $640M 16 Zeta | $250M | Series C Link
35▼13 Accounts Payables Payment Solutions $638M 7 Tipalti | $270M | Series F Link
36▲95 Employee Insurance Benefits Administration $626M 25 Konfío | $125M | Series E Link
37▲29 Financial Planning & Analysis Software $621M 17 insightsoftware | $800M | PE Link
38▲13 Internet First Lenders $620M 5 Mynt | $300M | Series D Link
39▲20 SMB Accounting $607M 40 Nanjing Yunji.. | $100M | Series E Link
40▲89 Payroll Payments Solutions $590M 4 Deel | $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.

8. Copyright © 2022, 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▲55 Accounts Payable and Receivable Management $588M 16 Tradeshift | $200M | Series F Link
42▲47 Internet First Auto Insurers $574M 21 Acko | $255M | Series D Link
43▲44 Internet First Revenue Based Financing $562M 25 Clearco | $215M | Series D Link
44▼24 Core Banking Platforms $561M 8 Mambu | $266M | Series E Link
45▼1 Cap Table Management $550M 12 Carta | $500M | Series G Link
46▲40 Internet First Pet Insurers $538M 5 Bought By Many | $350M | Series D Link
47▼39 Card Linked Digital Wallets $519M 13 Grab | $375M | Series H Link
48▲50 Credit Card Bill Payments $500M 4 CRED | $251M | Series E Link
49▼34 Invoice Processing Automation $489M 8 Melio Payments | $250M | Series D Link
50▲103 Cryptocurrency Staking $481M 14 Circle | $440M | Series F Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Checkout (2012, United Kingdom)
$1.0B - Series D - Jan 2022
Stripe (2010, United States)
$600M - Series H - Mar 2021
SaltPay (2019, Portugal)
$500M - Series C - May 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
Flutterwave (2016, United States)
$250M - Series D - Feb 2022
View all 52 Funding Rounds on Tracxn Platform
Business Payments Solutions
01
9
Back to index
Payments (Grab)
(# Cos: 13645 | $130B)
Business Payments (PayPal)
(# Cos: 7430 | $35.8B)
Diversified (Block)
(# Cos: 1143 | $11.0B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$4.8B (▲195%)
52(▲48.6%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
99
$11.0B
239
23
1143
46
Block
(2009, United States, $520M)
Xendit
(2015, Indonesia, $238M)
Stripe
(2010, United States, $2.3B)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

10. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Cryptocurrency Trading Platforms
02
10
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$4.5B (▼12.2%)
67(▲71.8%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
26
$12.7B
220
2
2112
49
Cryptocurrencies (Terra)
(# Cos: 17902 | $31.4B)
Financial Services (Uphold)
(# Cos: 12208 | $25.3B)
Investment Industry (Coinbase)
(# Cos: 8943 | $18.3B)
Online Trading Platforms (tZERO)
(# Cos: 3234 | $13.1B)
Regular Trading (Gemini)
(# Cos: 2112 | $12.7B)
Gemini
(2015, United States, $400M)
tZERO
(2014, United States, $260M)
Bitso
(2014, Mexico, $331M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
FTX (2018, Bahamas)
$900M - Series B - Jul 2021
MoonPay (2019, United States)
$555M - Series A - Oct 2021
Fireblocks (2018, United States)
$550M - Series E - Jan 2022
FTX (2018, Bahamas)
$421M - Series B - Oct 2021
Gemini (2015, United States)
$400M - Series A - Nov 2021
FTX (2018, Bahamas)
$400M - Series C - Jan 2022
FTX US (2019, United States)
$400M - Series A - Jan 2022
View all 67 Funding Rounds on Tracxn Platform

11. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Digital Native Banks
03
11
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$3.6B (▲120%)
15(▲7.1%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$10.0B
33
4
101
12
Banking Tech (Chime)
(# Cos: 6526 | $59.1B)
Internet First Banks (Razorpay)
(# Cos: 1241 | $28.7B)
Digital Native Banks (Revolut)
(# Cos: 219 | $15.7B)
Diversified (Nubank)
(# Cos: 101 | $10.0B)
Nubank
(2013, Brazil, $2.3B)
Revolut
(2015, United Kingdom, $2.1B)
Monzo
(2015, United Kingdom, $1.2B)
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
Bunq (2013, Netherlands)
$231M - Series A - Jun 2021
Allica Bank (2017, United Kingdom)
$147M - Series B - Nov 2021
Atom Bank (2014, United Kingdom)
$102M - Series E - Feb 2022
View all 15 Funding Rounds on Tracxn Platform

12. Copyright © 2022, 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
$3.1B (▲33.2%)
42(▲44.8%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
19
$9.4B
102
10
213
36
Alternative Lending (Clear Score)
(# Cos: 11542 | $83.3B)
Online Lenders (Better Mortgage)
(# Cos: 8311 | $74.2B)
Consumer Loans (SoFi)
(# Cos: 4156 | $40.5B)
Point of Sale Financing (Klarna)
(# Cos: 414 | $13.8B)
Direct Lender (Affirm)
(# Cos: 213 | $9.4B)
Affirm
(2012, United States, $1.2B)
Klarna
(2005, Sweden, $3.7B)
ZestMoney
(2015, India, $125M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Klarna (2005, Sweden)
$639M - Series H - Jun 2021
Scalapay (2019, Italy)
$501M - Series B - Feb 2022
Atome (2016, Singapore)
$500M - Series D - Oct 2021
Scalapay (2019, Italy)
$155M - Series A - Sep 2021
Alma (2017, France)
$131M - Series C - Feb 2022
Sunbit (2016, United States)
$130M - Series C - May 2021
Paidy (2014, Japan)
$120M - Series D - Mar 2021
View all 42 Funding Rounds on Tracxn Platform

13. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Paytm (2009, 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
Gojek (2010, Indonesia)
$300M - Series H - May 2021
MoMo (2007, Vietnam)
$200M - Series E - Dec 2021
Ascend Money (2013, Thailand)
$150M - Series C - Sep 2021
View all 57 Funding Rounds on Tracxn Platform
Digital Wallets
05
13
Back to index
Payments (PayPal)
(# Cos: 13645 | $130B)
Consumer Payments (Gojek)
(# Cos: 4424 | $75.7B)
Wallets (Grab)
(# Cos: 1536 | $62.6B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.9B (▲16.1%)
57(▲5.6%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
57
$62.6B
284
10
1536
51
Grab
(2012, Singapore, $10.4B)
Gojek
(2010, Indonesia, $4.9B)
PhonePe
(2012, India, $700M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

14. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Banks for Businesses with Partner
Bank's License
06
14
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.9B (▲667%)
47(▲104%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$4.6B
73
-
173
29
Banking Tech (Revolut)
(# Cos: 6526 | $59.1B)
Internet First Banks (Nubank)
(# Cos: 1241 | $28.7B)
Through Bank Partnerships (Chime)
(# Cos: 876 | $12.8B)
Business Banking (Razorpay)
(# Cos: 173 | $4.6B)
Razorpay
(2014, India, $742M)
Brex
(2017, United States, $1.2B)
Qonto
(2017, France, $706M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Qonto (2017, France)
$552M - Series D - Jan 2022
Brex (2017, United States)
$425M - Series D - Apr 2021
Razorpay (2014, India)
$375M - Series F - Dec 2021
Brex (2017, United States)
$300M - Series D - Oct 2021
Razorpay (2014, India)
$160M - Series E - Apr 2021
Rho Business .. (2010, United States)
$130M - Series B - Sep 2021
Mercury (2017, United States)
$120M - Series B - Jul 2021
View all 47 Funding Rounds on Tracxn Platform

15. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Retail Banks with Partner
Bank's License
07
15
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.8B (▲64.5%)
73(▲23.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
19
$7.2B
177
1
480
59
Banking Tech (Revolut)
(# Cos: 6526 | $59.1B)
Internet First Banks (Nubank)
(# Cos: 1241 | $28.7B)
Through Bank Partnerships (Razorpay)
(# Cos: 876 | $12.8B)
Retail Banking (Chime)
(# Cos: 480 | $7.2B)
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
Neon (2016, Brazil)
$300M - Series D - Feb 2022
Current (2015, United States)
$220M - Series D - Apr 2021
TSLC (2019, United Arab Emirates)
$200M - Series B - Dec 2021
KOHO (2014, Canada)
$165M - Series D - Feb 2022
First Digital Bank (2019, Israel)
$120M - Series A - Dec 2021
Vivid Mone (2020, Germany)
$115M - Series C - Feb 2022
View all 73 Funding Rounds on Tracxn Platform

16. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Corporate Travel & Expense Cards
08
16
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.7B (▲1091%)
35(▲218%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$3.5B
45
2
98
21
Finance & Accounting Tech (Intuit)
(# Cos: 11734 | $35.9B)
Accounting Solutions (Fiserv)
(# Cos: 7888 | $23.6B)
Procure to Pay (Coupa)
(# Cos: 1054 | $9.8B)
Travel & Expense (Ramp)
(# Cos: 457 | $5.1B)
Card Solutions (Brex)
(# Cos: 98 | $3.5B)
Brex
(2017, United States, $1.2B)
Ramp
(2006, United States, $670M)
Wright Express
(1983, United States)
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
Ramp (2006, United States)
$200M - Series D - Feb 2022
Soldo (2014, United Kingdom)
$180M - Series C - Jul 2021
Pleo (2015, Denmark)
$150M - Series C - Jun 2021
View all 35 Funding Rounds on Tracxn Platform

17. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
POS Payment Terminals
09
17
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.4B (▲3639%)
23(▲91.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
86
$5.8B
220
17
923
36
Payments (Grab)
(# Cos: 13645 | $130B)
Business Payments (PayPal)
(# Cos: 7429 | $35.8B)
POS Payments (SumUp)
(# Cos: 1302 | $6.2B)
POS Payment Terminal (Pine Labs)
(# Cos: 923 | $5.8B)
Pine Labs
(1998, India, $1.6B)
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 - Apr 2021
Clip (2012, Mexico)
$250M - Series D - Jun 2021
Pine Labs (1998, India)
$150M - Series E - Feb 2022
Pine Labs (1998, India)
$100M - Series E - Sep 2021
NETSTARS (2008, Japan)
$66.0M - Series A - Apr 2021
View all 23 Funding Rounds on Tracxn Platform

18. Copyright © 2022, 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
Bolt (2014, United States)
$355M - Series E - Dec 2021
Rapyd (2016, United States)
$300M - Series E - Aug 2021
Airwallex (2015, China)
$200M - Series E - Sep 2021
Voyager Innovat.. (2013, Philippines)
$167M - Series E - Jun 2021
View all 74 Funding Rounds on Tracxn Platform
Online Business Payments
10
18
Back to index
Payments (Grab)
(# Cos: 13645 | $130B)
Business Payments (Block)
(# Cos: 7429 | $35.8B)
Online Payments (PayPal)
(# Cos: 2636 | $9.2B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.2B (▲172%)
74(▲45.1%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
210
$9.2B
498
26
2636
67
PayPal
(1998, United States, $216M)
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.

19. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Corporate Credit Card
Issuers
11
19
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$2.0B (▲675%)
27(▲238%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$3.2B
26
-
57
16
Payments (PayPal)
(# Cos: 13645 | $130B)
Consumer Payments (Grab)
(# Cos: 4424 | $75.7B)
Payment Cards (Brex)
(# Cos: 1234 | $9.9B)
Credit Cards (Upgrade)
(# Cos: 229 | $6.3B)
Corporate Cards (Swile)
(# Cos: 57 | $3.2B)
Swile
(2018, France, $328M)
Brex
(2017, United States, $1.2B)
Ramp
(2006, United States, $670M)
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
Swile (2018, France)
$200M - Series D - Oct 2021
Pleo (2015, Denmark)
$200M - Series C - Dec 2021
Ramp (2006, United States)
$200M - Series D - Feb 2022
Pleo (2015, Denmark)
$150M - Series C - Jun 2021
View all 27 Funding Rounds on Tracxn Platform

20. Copyright © 2022, 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
Friday Health.. (2015, United States)
$100M - Series C - Apr 2021
Ottonova (2015, Germany)
$47.4M - Series E - Aug 2021
Reliance Health (2020, Nigeria)
$40.0M - Series B - Feb 2022
RelianceHMO (2017, Nigeria)
$40.0M - Series B - Feb 2022
Spot (2017, United States)
$15.0M - Series A - Jul 2021
View all 17 Funding Rounds on Tracxn Platform
Internet First Health Insurers
12
20
Back to index
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3405 | $35.5B)
Internet First Insurers (Lemonade)
(# Cos: 1074 | $23.5B)
Health (Oscar)
(# Cos: 102 | $7.4B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.6B (▼0.6%)
17(▼5.6%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$7.4B
43
1
102
21
Oscar
(2012, United States, $1.6B)
Alan
(2016, France, $361M)
RelianceHMO
(2017, Nigeria, $48.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

21. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
KYC for Financial Institutions
13
21
Back to index
RegTech (Jumio)
(# Cos: 2498 | $15.3B)
KYC (Onfido)
(# Cos: 668 | $3.4B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.6B (▲261%)
37(▲8.8%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
56
$3.4B
224
9
668
44
Onfido
(2012, United Kingdom, $242M)
IDnow
(2014, Germany, $40.0M)
Trulioo
(2011, Canada, $477M)
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
Unico (2007, Brazil)
$121M - Series C - Aug 2021
Socure (2012, United States)
$100M - Series D - Mar 2021
TYME (2012, South Africa)
$70.0M - Series B - Dec 2021
Prime Trust (2004, United States)
$64.0M - Series A - Jul 2021
View all 37 Funding Rounds on Tracxn Platform

22. Copyright © 2022, 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
$1.5B (▲142%)
18( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$4.4B
50
2
110
23
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3405 | $35.5B)
Internet First Insurers (Lemonade)
(# Cos: 1074 | $23.5B)
P&C (Next Insurance)
(# Cos: 730 | $10.6B)
Diversified (Coalition)
(# Cos: 110 | $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 18 Funding Rounds on Tracxn Platform

23. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Payroll Management Solutions
15
23
Back to index
Finance & Accounting Tech (Fiserv)
(# Cos: 11734 | $35.9B)
Payroll Management (Paylocity)
(# Cos: 516 | $3.3B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.5B (▲425%)
21(▲75%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
42
$3.3B
103
5
516
24
Paylocity
(1997, United States, $37.3M)
Edenred
(2010, France)
Deel
(2018, United States, $631M)
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
PayFit (2016, France)
$289M - Series E - Jan 2022
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
CloudPay (1996, United Kingdom)
$58.0M - Series D - Aug 2021
View all 21 Funding Rounds on Tracxn Platform

24. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Cryptocurrency Exchanges
16
24
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.5B (▲377%)
64(▲33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
49
$3.1B
323
1
4088
61
Cryptocurrencies (Terra)
(# Cos: 17903 | $31.4B)
Financial Services (Uphold)
(# Cos: 12209 | $25.3B)
Investment Industry (Gemini)
(# Cos: 8944 | $18.3B)
Crypto Exchanges (Coinbase)
(# Cos: 4088 | $3.1B)
Coinbase
(2012, United States, $547M)
CoinSwitch
(2017, India, $302M)
Blockchain
(2011, Luxembourg, $590M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Blockchain (2011, Luxembourg)
$300M - Series C - Mar 2021
CoinSwitch (2017, India)
$260M - Series C - Oct 2021
1inch (2020, United Kingdom)
$175M - Series B - Dec 2021
Rain (2016, Bahrain)
$112M - Series B - Jan 2022
Blockchain (2011, Luxembourg)
$100M - Series C - Apr 2021
Serum (2020)
$100M - Series A - Jan 2022
CoinDCX (2018, India)
$90.0M - Series C - Jun 2021
View all 64 Funding Rounds on Tracxn Platform

25. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
P2P Wallet Remittance
17
25
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.4B (▲504%)
25(▲127%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$2.0B
71
-
352
18
Remittance (Wise)
(# Cos: 2056 | $9.7B)
Internet First Platforms (Payoneer)
(# Cos: 1631 | $8.0B)
P2P Remittance (Remitly)
(# Cos: 1132 | $4.3B)
Wallet Transfer (Wave Systems)
(# Cos: 352 | $2.0B)
Wave Systems
(2014, United States, $258M)
Taptap Send
(2017, United Kingdom, $80.0M)
Skrill
(2001, United Kingdom)
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
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
Taptap Send (2017, United Kingdom)
$65.0M - Series B - Dec 2021
View all 25 Funding Rounds on Tracxn Platform

26. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Retail Banking
18
26
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.2B (▲99.6%)
9(▼25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$4.3B
32
3
90
10
Banking Tech (Revolut)
(# Cos: 6526 | $59.1B)
Internet First Banks (Razorpay)
(# Cos: 1241 | $28.7B)
Digital Native Banks (Nubank)
(# Cos: 219 | $15.7B)
Retail Banking (Ally)
(# Cos: 90 | $4.3B)
Ally
(1919, United States, $1.3B)
Tandem
(2013, United Kingdom, $283M)
Varo
(2015, United States, $991M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Varo (2015, United States)
$510M - Series E - Sep 2021
Zopa (2005, United Kingdom)
$303M - Series H - Oct 2021
TONIK (2018, Singapore)
$131M - Series B - Feb 2022
TymeBank (2012, South Africa)
$70.0M - Series B - Dec 2021
Kuda (2017, Nigeria)
$55.0M - Series B - Aug 2021
Volt Bank (2018, Australia)
$37.7M - Series E - Jun 2021
Zopa (2005, United Kingdom)
$27.7M - Series H - Mar 2021
View all 9 Funding Rounds on Tracxn Platform

27. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Solarisbank (2016, Germany)
$224M - Series D - Jul 2021
TrueLayer (2016, United Kingdom)
$130M - Series E - Sep 2021
Pismo (2016, Brazil)
$108M - Series B - Oct 2021
TrueLayer (2016, United Kingdom)
$70.0M - Series D - Apr 2021
Railsbank (2015, United Kingdom)
$70.0M - Series C - Jul 2021
Prime Trust (2004, United States)
$64.0M - Series A - Jul 2021
M2P Fintech (2014, India)
$56.0M - Series C - Jan 2022
View all 54 Funding Rounds on Tracxn Platform
Open Banking API Providers
19
27
Back to index
Banking Tech (Razorpay)
(# Cos: 6526 | $59.1B)
Open Banking (M2P Fintech)
(# Cos: 538 | $5.5B)
Banking APIs (Tink)
(# Cos: 261 | $3.3B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.1B (▲139%)
54(▲3.8%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
14
$3.3B
119
-
261
46
Tink
(2012, Sweden, $359M)
M2P Fintech
(2014, India, $107M)
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.

28. Copyright © 2022, 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
Jumio (2010, United States)
$150M - Series D - Mar 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
View all 18 Funding Rounds on Tracxn Platform
KYC Solutions for Banks
20
28
Back to index
Banking Tech (Razorpay)
(# Cos: 6526 | $59.1B)
RegTech (Jumio)
(# Cos: 810 | $6.8B)
Onboarding KYC and AML (Onfido)
(# Cos: 324 | $2.4B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$1.1B (▲460%)
18(▲125%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
47
$2.4B
124
3
324
22
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.

29. Copyright © 2022, 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, China)
$200M - Series E - Sep 2021
XTransfer (2017, China)
$138M - Series D - Sep 2021
Airwallex (2015, China)
$100M - Series E - Nov 2021
Airwallex (2015, China)
$100M - Series D - Mar 2021
AZA (2015, Kenya)
$20.0M - Series B - May 2021
VERTO (2017, United States)
$10.0M - Series A - Sep 2021
View all 14 Funding Rounds on Tracxn Platform
B2B Remittance
21
29
Back to index
Remittance (Wise)
(# Cos: 2056 | $9.7B)
Internet First Platforms (Remitly)
(# Cos: 1631 | $8.0B)
B2B Remittance (Payoneer)
(# Cos: 217 | $2.6B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$857M (▲102%)
14( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
14
$2.6B
59
3
217
18
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.

30. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Business Loans
Marketplace
22
30
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$825M (▲527%)
28(▼3.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
11
$3.1B
139
2
553
44
Alternative Lending (SoFi)
(# Cos: 11542 | $83.3B)
Online Lenders (Affirm)
(# Cos: 8311 | $74.2B)
Business Loans (Ftcash)
(# Cos: 2420 | $18.8B)
Diversified (FlexiLoans)
(# Cos: 786 | $5.4B)
Marketplace (Funding Circle)
(# Cos: 553 | $3.1B)
Funding Circle
(2010, United States, $373M)
FlexiLoans
(2015, India, $68.0M)
Investree
(2015, Indonesia, $23.5M)
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
Modalku (2016, Indonesia)
$144M - Series C - Feb 2022
Funding Societies (2015, Singapore)
$144M - Series C - Feb 2022
ThinCats (2010, United Kingdom)
$135M - Series D - Feb 2022
Mintifi (2017, India)
$40.2M - Series C - Feb 2022
Validus (2015, Singapore)
$37.5M - Series B - May 2021
View all 28 Funding Rounds on Tracxn Platform

31. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Paxos (2013, United States)
$300M - Series D - Apr 2021
Amber Group (2017, China)
$200M - Series B - Feb 2022
Zero Hash (2017, United States)
$105M - Series D - Jan 2022
Matrixport (2019, Singapore)
$100M - Series C - Aug 2021
Amber Group (2017, China)
$100M - Series B - Jun 2021
BCB (2017, United Kingdom)
$60.0M - Series A - Jan 2022
Abra (2014, United States)
$55.0M - Series C - Sep 2021
View all 63 Funding Rounds on Tracxn Platform
Crypto Financial Services
23
31
Back to index
Cryptocurrencies (Gemini)
(# Cos: 17903 | $31.4B)
Financial Services (Coinbase)
(# Cos: 12209 | $25.3B)
Diversified (Uphold)
(# Cos: 965 | $2.9B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$822M (▲4.3%)
63(▲142%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
13
$2.9B
220
5
965
38
Uphold
(2015, United Kingdom, $73.4M)
Coins.ph
(2014, Philippines, $10.0M)
BlockFi
(2017, United States, $509M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

32. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Crypto Based Personal Loans
24
32
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$792M (▲2171%)
28(▲64.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$1.3B
77
-
232
22
Cryptocurrencies (Gemini)
(# Cos: 17903 | $31.4B)
Financial Services (Coinbase)
(# Cos: 12209 | $25.3B)
Lending (Compound)
(# Cos: 303 | $1.4B)
Consumer Loans (Airfox)
(# Cos: 242 | $1.3B)
Personal Loans (Celsius Network)
(# Cos: 232 | $1.3B)
Celsius Network
(2017, United Kingdom, $780M)
Airfox
(2016, United States, $58.1M)
Compound
(2017, United States, $41.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Celsius Netw.. (2017, United Kingdom)
$750M - Series B - Oct 2021
Yuanbao (2014, China)
$156M - Series C - May 2021
Ledn (2018, Canada)
$70.0M - Series B - Dec 2021
Ledn (2018, Canada)
$30.0M - Series A - May 2021
TrueFi (2017, United States)
$12.5M - Series B - Aug 2021
Notional (2020, United States)
$11.3M - Series A - Apr 2021
Yield (2020, United States)
$10.0M - Series A - Jun 2021
View all 28 Funding Rounds on Tracxn Platform

33. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Social Trading Platforms for Stocks
25
33
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$767M (▲159%)
12(▲71.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$1.3B
41
2
168
7
Investment Tech (IHS Markit)
(# Cos: 21874 | $60.2B)
Online Trading Platforms (Clear)
(# Cos: 9922 | $23.1B)
Stocks (SoFi)
(# Cos: 2112 | $17.0B)
Social Trading (eToro)
(# Cos: 168 | $1.3B)
eToro
(2007, United Kingdom, $823M)
Ayondo
(2008, Germany, $19.8M)
Stockbit
(2012, Indonesia)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
eToro (2007, United Kingdom)
$650M - Series F - Mar 2021
Shares (2021, France)
$40.0M - Series A - Mar 2022
StockGro (2019, India)
$32.0M - Series A - Jan 2022
CommonStock (2001, United States)
$25.0M - Series A - Oct 2021
Shares (2021, France)
$10.0M - Seed - Aug 2021
StockGro (2019, India)
$6.4M - Seed - Jun 2021
Finary (2020, United States)
$3.2M - Seed - Apr 2021
View all 12 Funding Rounds on Tracxn Platform

34. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Working Capital Loans
Marketplaces
26
34
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$760M (▲495%)
14(▲55.6%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$1.8B
66
1
183
13
Alternative Lending (SoFi)
(# Cos: 11542 | $83.3B)
Online Lenders (Affirm)
(# Cos: 8311 | $74.2B)
Business Loans (Funding Circle)
(# Cos: 2420 | $18.8B)
Working Capital Loans (Kabbage)
(# Cos: 268 | $2.8B)
Marketplace (OfBusiness)
(# Cos: 183 | $1.8B)
OfBusiness
(2015, India, $892M)
Progcap
(2016, India, $61.1M)
Numida
(2015, Uganda, $2.4M)
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
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
PayHippo (2019, Nigeria)
$3.0M - Seed - Nov 2021
View all 14 Funding Rounds on Tracxn Platform

35. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Socure (2012, United States)
$450M - Series E - Nov 2021
RapidRatings (2002, United States)
$200M - Series C - Feb 2022
Socure (2012, United States)
$100M - Series D - Mar 2021
Socure (2012, United States)
Undisclosed - Series D - Jun 2021
Vendor Risk Management
27
35
Back to index
Finance & Accounting Tech (Fiserv)
(# Cos: 11734 | $35.9B)
Risk & Compliance Management (Ebury)
(# Cos: 30 | $1.2B)
Vendor Risk (Socure)
(# Cos: 14 | $1.0B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$750M (▲975%)
4(▲33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$1.0B
6
-
14
4
Socure
(2012, United States, $650M)
RapidRatings
(2002, United States, $255M)
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.

36. Copyright © 2022, 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
M2P Fintech (2014, India)
$56.0M - Series C - Jan 2022
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
View all 35 Funding Rounds on Tracxn Platform
Open Banking APIs for Payments
28
36
Back to index
Payments (Grab)
(# Cos: 13645 | $130B)
Enablers (Fiserv)
(# Cos: 1764 | $18.0B)
Open Banking APIs (M2P Fintech)
(# Cos: 156 | $1.3B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$739M (▲246%)
35(▲16.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$1.3B
70
-
156
28
M2P Fintech
(2014, India, $107M)
TrueLayer
(2016, United Kingdom, $273M)
Yapily
(2017, United Kingdom, $70.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

37. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Plaid (2013, United States)
$425M - Series D - Mar 2021
Orum (2019, United States)
$56.0M - Series B - Jun 2021
Belvo (2019, Spain)
$43.0M - Series A - Jun 2021
Lean (2019, Saudi Arabia)
$33.0M - Series A - Jan 2022
Flinks (2016, Canada)
$23.7M - Series B - Aug 2021
Orum (2019, United States)
$21.0M - Series A - Apr 2021
Banked (2018, United Kingdom)
$20.0M - Series A - Feb 2022
View all 35 Funding Rounds on Tracxn Platform
Open Banking Aggregation APIs
29
37
Back to index
Banking Tech (Razorpay)
(# Cos: 6526 | $59.1B)
Open Banking (Tink)
(# Cos: 538 | $5.5B)
Aggregation APIs (Plaid)
(# Cos: 217 | $1.5B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$739M (▲877%)
35(▲59.1%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
17
$1.5B
84
-
217
29
Plaid
(2013, United States, $734M)
Quovo
(2010, United States, $16.1M)
Finicity
(1999, United States, $80.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

38. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
International Business Payments
30
38
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Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$729M (▲43.6%)
13(▲160%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$2.5B
33
2
95
11
Payments (Grab)
(# Cos: 13645 | $130B)
Business Payments (Block)
(# Cos: 7429 | $35.8B)
Online Payments (PayPal)
(# Cos: 2636 | $9.2B)
International (Payoneer)
(# Cos: 95 | $2.5B)
Payoneer
(2005, United States, $269M)
Flywire
(2009, United States, $263M)
Rapyd
(2016, United States, $778M)
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
Airwallex (2015, China)
$200M - Series E - Sep 2021
Airwallex (2015, China)
$100M - Series E - Nov 2021
Airwallex (2015, China)
$100M - Series D - Mar 2021
Currenxie (2014, China)
$10.0M - Series A - Aug 2021
Pawapay (2020, United Kingdom)
$9.0M - Seed - Aug 2021
PayGlocal (2021, India)
$4.9M - Series A - Apr 2021
View all 13 Funding Rounds on Tracxn Platform

39. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Insurance Agency Management
31
39
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Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$698M (▲512%)
13(▲30%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
23
$1.2B
70
-
277
9
Insurance IT (CoreLogic)
(# Cos: 2475 | $10.5B)
Insurance Policy Solutions (Guidewire)
(# Cos: 1588 | $5.7B)
Software for Insurance Intermediaries
(Covr)
(# Cos: 388 | $1.4B)
Insurance Agency Management
(Wefox)
(# Cos: 277 | $1.2B)
Wefox
(2015, Germany, $1.0B)
Agentero
(2017, United States, $23.5M)
TowerIQ
(2017, United States, $6.6M)
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
Stubben Edge (2010, United Kingdom)
$13.4M - Series A - Jan 2022
Talage (2016, United States)
$9.0M - Series B - Feb 2022
MeetLeo (2019)
$5.0M - Seed - Nov 2021
Wunderite (2015, United States)
$3.0M - Seed - Apr 2021
Better Agency (2019, United States)
$2.1M - Seed - Jul 2021
View all 13 Funding Rounds on Tracxn Platform

40. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Credit Cards
32
40
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Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$694M (▲268%)
18(▲5.9%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
10
$2.2B
47
7
142
12
Payments (PayPal)
(# Cos: 13645 | $130B)
Consumer Payments (Grab)
(# Cos: 4424 | $75.7B)
Payment Cards (Brex)
(# Cos: 1234 | $9.9B)
Credit Cards (Swile)
(# Cos: 229 | $6.3B)
General Purpose (Upgrade)
(# Cos: 142 | $2.2B)
Upgrade
(2016, United States, $600M)
Petal
(2016, United States, $243M)
slice
(2016, India, $281M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Upgrade (2016, United States)
$280M - Series F - Nov 2021
slice (2016, India)
$220M - Series B - Nov 2021
Petal (2016, United States)
$140M - Series D - Jan 2022
Stori (2019, Mexico)
$125M - Series C - Nov 2021
Zilch (2018, United Kingdom)
$110M - Series B - Jun 2021
Zilch (2018, United Kingdom)
$110M - Series C - Sep 2021
Upgrade (2016, United States)
$105M - Series E - Aug 2021
View all 18 Funding Rounds on Tracxn Platform

41. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Payment Fraud Monitoring Solutions
33
41
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Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$690M (▲126%)
19(▼9.5%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
46
$3.4B
138
5
352
37
Payments (Grab)
(# Cos: 13645 | $130B)
Enablers (Fiserv)
(# Cos: 1764 | $18.0B)
Payment Security (Jumio)
(# Cos: 566 | $9.3B)
Payment Fraud Detection
(Riskified)
(# Cos: 352 | $3.4B)
Riskified
(2012, United States, $229M)
Trulioo
(2011, Canada, $477M)
Simility
(2014, United States, $25.0M)
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 19 Funding Rounds on Tracxn Platform

42. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Banking Software Suite
34
42
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Banking Tech (Razorpay)
(# Cos: 6526 | $59.1B)
Banking Software Suite (Fiserv)
(# Cos: 541 | $2.5B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$640M (▲481%)
16(▲45.5%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
33
$2.5B
117
22
541
15
Fiserv
(1984, United States)
NCR
(1884, United States, $820M)
FIS
(1968, United States)
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)
$70.0M - Series B - Dec 2021
FintechOS (2017, United Kingdom)
$60.0M - Series B - Apr 2021
Zeta (2015, India)
$30.0M - Series C - Mar 2022
Shenzhen Tengyin Info.. (2019, China)
$15.4M - Series A - Mar 2021
AppZone Group (2008, Nigeria)
$10.0M - Series A - Apr 2021
View all 16 Funding Rounds on Tracxn Platform

43. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Accounts Payables Payment Solutions
35
43
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$638M (▲37.6%)
7(▼22.2%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
10
$1.7B
22
1
79
7
Payments (Grab)
(# Cos: 13645 | $130B)
Business Payments (PayPal)
(# Cos: 7429 | $35.8B)
Mass Payouts (Zuora)
(# Cos: 491 | $3.8B)
Invoice Payments (Tipalti)
(# Cos: 446 | $3.0B)
Accounts Payables (FLEETCOR)
(# Cos: 79 | $1.7B)
FLEETCOR
(2000, United States, $211M)
Tipalti
(2010, United States, $553M)
MineralTree
(2010, United States, $123M)
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
Modern Treasury (2018, United States)
$85.0M - Series C - Oct 2021
Billhop (2011, Sweden)
$11.9M - Series B - Feb 2022
Finexio (2015, United States)
$10.0M - Series B - Jan 2022
Finexio (2015, United States)
$8.0M - Series B - Aug 2021
Airbank (2020, Germany)
$3.0M - Seed - Jun 2021

44. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Employee Insurance Benefits
Administration
36
44
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Employer Insurance (Justworks)
(# Cos: 162 | $3.0B)
Benefits Administration (HealthEquity)
(# Cos: 102 | $1.7B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$626M (▲1202%)
25(▲108%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
15
$1.7B
56
1
102
27
HealthEquity
(2002, United States, $15.3M)
Justworks
(2012, United States, $148M)
League
(2014, Canada, $242M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Konfío (2014, Mexico)
$125M - Series E - Jun 2021
Konfío (2014, Mexico)
$110M - Series E - Sep 2021
League (2014, Canada)
$95.0M - Series C - Feb 2022
League (2014, Canada)
$70.0M - Series C - Dec 2021
ThreeFlow (2015, United States)
$45.0M - Series B - Nov 2021
Bennie (2019, United States)
$33.0M - Seed - Jan 2022
Level (2018, United States)
$27.0M - Series A - Apr 2021
View all 25 Funding Rounds on Tracxn Platform

45. Copyright © 2022, 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
Puzzle (2019, United States)
$21.5M - Series B - Jun 2021
Conquest Planning (2018, Canada)
$7.5M - Series A - Jul 2021
Parallax (2019, United States)
$7.0M - Series A - Aug 2021
View all 17 Funding Rounds on Tracxn Platform
Financial Planning & Analysis Software
37
45
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Finance & Accounting Tech (Fiserv)
(# Cos: 11734 | $35.9B)
Financial Planning & Analysis (Carta)
(# Cos: 1301 | $5.1B)
Suite (Anaplan)
(# Cos: 365 | $2.4B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$621M (▲358%)
17( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
34
$2.4B
91
1
365
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.

46. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Lenders
38
46
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Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$620M (▲207%)
5(▲66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$5.2B
29
2
214
11
Alternative Lending (SoFi)
(# Cos: 11542 | $83.4B)
Online Lenders (Affirm)
(# Cos: 8311 | $74.3B)
Diversified (Lending Club)
(# Cos: 846 | $9.3B)
Direct Lender (Figure)
(# Cos: 214 | $5.2B)
Figure
(2018, United States, $428M)
InCred
(2016, India, $216M)
Navi
(2018, India, $444M)
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
Figure (2018, United States)
$200M - Series D - May 2021
MNT Halan (2017, Egypt)
$120M - Series A - Aug 2021
Kaabil Finance (2017, India)
Undisclosed - Seed - Feb 2022
Hi (2021, United Kingdom)
Undisclosed - Series A - Mar 2021

47. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
SMB Accounting
39
47
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Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$607M (▲279%)
40(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
63
$1.7B
206
15
2067
27
Finance & Accounting Tech (Clear)
(# Cos: 11734 | $35.9B)
Accounting Solutions (Coupa)
(# Cos: 7888 | $23.6B)
Accounting Suite (Fiserv)
(# Cos: 2440 | $2.3B)
SMBs (Intuit)
(# Cos: 2067 | $1.7B)
Intuit
(1983, United States)
FreshBooks
(2003, Canada, $154M)
Sage Group
(1997, United Kingdom)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Nanjing Yunjiafang Ne.. (2015, China)
$100M - Series E - Feb 2022
FreshBooks (2003, Canada)
$80.8M - Series E - Aug 2021
sevDesk (2007, Germany)
$61.0M - Series C - May 2021
Found Ventures (2019, United States)
$60.0M - Series B - Feb 2022
Pennylane (2020, France)
$57.0M - Series B - Jan 2022
Ignition (2013, Australia)
$50.0M - Series C - Nov 2021
Vic.ai (2016, United States)
$50.0M - Series B - Sep 2021
View all 40 Funding Rounds on Tracxn Platform

48. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Payroll Payments Solutions
40
48
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Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$590M (▲1111%)
4( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$690M
12
-
22
3
Payments (Grab)
(# Cos: 13645 | $130B)
Business Payments (PayPal)
(# Cos: 7429 | $35.8B)
Mass Payouts (FLEETCOR)
(# Cos: 491 | $3.8B)
Payroll Payments (Deel)
(# Cos: 22 | $690M)
Deel
(2018, United States, $631M)
Exactuals
(2011, United States, $21.5M)
Payable
(2013, United States, $2.1M)
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
Paywallet (2021, United States)
$8.8M - Series A - Feb 2022
Flow Payments (2018, Australia)
$75.0K - Seed - Oct 2021

49. Copyright © 2022, 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
Float (2020, United States)
$17.0M - Seed - Jan 2022
Settle (2019, United States)
$15.0M - Series A - May 2021
View all 16 Funding Rounds on Tracxn Platform
Accounts Payable and Receivable
Management
41
49
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Finance & Accounting Tech (Intuit)
(# Cos: 11734 | $35.9B)
Accounting Solutions (Fiserv)
(# Cos: 7888 | $23.6B)
Account Payables & Receivables
(Bill.com)
(# Cos: 260 | $2.2B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$588M (▲604%)
16(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
16
$2.2B
59
4
260
10
Bill.com
(2006, United States, $317M)
Tradeshift
(2010, United States, $1.2B)
PayMate
(2006, India, $49.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

50. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Auto Insurers
42
50
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$574M (▲501%)
21(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$1.8B
64
1
181
20
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3405 | $35.5B)
Internet First Insurers (Lemonade)
(# Cos: 1074 | $23.5B)
P&C (Coalition)
(# Cos: 730 | $10.6B)
Auto (Acko)
(# Cos: 181 | $1.8B)
Acko
(2016, India, $512M)
Clearcover
(2016, United States, $329M)
By Miles
(2016, United Kingdom, $27.0M)
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
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
VOOM (2016, United States)
$15.0M - Series B - Oct 2021
View all 21 Funding Rounds on Tracxn Platform

51. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Revenue Based Financing
43
51
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Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$562M (▲479%)
25(▲66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.3B
38
1
67
24
Alternative Lending (SoFi)
(# Cos: 11542 | $83.4B)
Online Lenders (Affirm)
(# Cos: 8311 | $74.3B)
Business Loans (Funding Circle)
(# Cos: 2420 | $18.9B)
Revenue Based Financing (Pipe)
(# Cos: 83 | $1.6B)
Direct Lender (Clearco)
(# Cos: 67 | $1.3B)
Clearco
(2015, Canada, $385M)
Wayflyer
(2014, United States, $236M)
GetVantage
(2019, India, $5.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Clearco (2015, Canada)
$215M - Series D - Jul 2021
Wayflyer (2014, United States)
$150M - Series B - Feb 2022
Capchase (2020, United States)
$125M - Series A - May 2021
Clearco (2015, Canada)
$100M - Series C - Apr 2021
Capchase (2020, United States)
$80.0M - Series B - Mar 2022
Uncapped (2019, United Kingdom)
$80.0M - Series B - Mar 2021
Wayflyer (2014, United States)
$76.0M - Series A - May 2021
View all 26 Funding Rounds on Tracxn Platform

52. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Core Banking Platforms
44
52
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Banking Tech (Razorpay)
(# Cos: 6526 | $59.1B)
Core Banking Platforms (Thought Machine)
(# Cos: 262 | $1.8B)
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$561M (▲18.4%)
8(▼20%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
21
$1.8B
57
7
262
10
Thought Machine
(2014, United Kingdom, $412M)
Alkami
(2009, United States, $421M)
Mambu
(2011, Netherlands, $446M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Mambu (2011, Netherlands)
$266M - Series E - Dec 2021
Thought Mach.. (2014, United Kingdom)
$200M - Series C - Aug 2021
Thought Mach.. (2014, United Kingdom)
$54.2M - Series C - Feb 2022
Tuum (2019, Estonia)
$16.9M - Series A - Jan 2022
Nymbus (2015, United States)
$15.0M - Series C - Apr 2021
Nymbus (2015, United States)
$5.0M - Series C - Jun 2021
Nymbus (2015, United States)
$3.0M - Series C - Aug 2021
View all 8 Funding Rounds on Tracxn Platform

53. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Cap Table Management
45
53
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Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$550M (▲132%)
12(▲20%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$1.3B
32
-
51
8
Finance & Accounting Tech (Fiserv)
(# Cos: 11734 | $35.9B)
Financial Planning & Analysis (Anaplan)
(# Cos: 1301 | $5.1B)
Equity Administration (Certent)
(# Cos: 91 | $1.3B)
Cap Table Management (Carta)
(# Cos: 51 | $1.3B)
Carta
(2012, United States, $1.2B)
Certent
(2002, United States, $36.2M)
Vertalo
(2017, United States, $5.0M)
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
Vertalo (2017, United States)
$5.0M - Series A - May 2021
Quotabook (2019, South Korea)
$5.0M - Series A - Aug 2021
Qapita (2019, Singapore)
$5.0M - Seed - Apr 2021
Rulezero (2019, India)
$2.5M - Seed - May 2021
View all 12 Funding Rounds on Tracxn Platform

54. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Internet First Pet Insurers
46
54
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Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$538M (▲451%)
5(▲400%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$740M
14
1
38
2
Internet First Insurance Platforms (Policybazaar)
(# Cos: 3405 | $35.5B)
Internet First Insurers (Lemonade)
(# Cos: 1074 | $23.5B)
P&C (Coalition)
(# Cos: 730 | $10.6B)
Pet (SanteVet)
(# Cos: 38 | $740M)
SanteVet
(2003, France, $171M)
Bought By Many
(2012, United Kingdom, $522M)
Petplan Insurance
(2003, United States, $1.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Bought By Many (2012, United Kingdom)
$350M - Series D - Jun 2021
SanteVet (2003, France)
$171M - Series B - Feb 2022
Wagmo (2018, United States)
$14.0M - Series A - Jul 2021
Odie (2019, United States)
$3.0M - Seed - Jun 2021
Oyen (2021, Malaysia)
$420K - Seed - Jun 2021

55. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Card Linked Digital Wallets
47
55
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$519M (▼66.4%)
13( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
12
$11.9B
72
3
298
15
Payments (PayPal)
(# Cos: 13645 | $130B)
Consumer Payments (PhonePe)
(# Cos: 4424 | $75.7B)
Wallets (Gojek)
(# Cos: 1536 | $62.6B)
Card Linked (Grab)
(# Cos: 298 | $11.9B)
Grab
(2012, Singapore, $10.4B)
PhonePe
(2012, India, $700M)
Lydia
(2013, France, $260M)
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
Lydia (2013, France)
$100M - Series C - Dec 2021
MOVii (2002, Colombia)
$17.0M - Series C - Feb 2022
MOVii (2002, Colombia)
$15.0M - Series B - Oct 2021
TAG (2020, Pakistan)
$12.0M - Seed - Sep 2021
Pyypl (2017, United Arab Emirates)
$11.0M - Series A - Feb 2022
RecargaPay (2010, Brazil)
$10.0M - Series C - Nov 2021
View all 13 Funding Rounds on Tracxn Platform

56. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Credit Card Bill Payments
48
56
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$500M (▲517%)
4(▲300%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$1.2B
9
-
24
3
Payments (PayPal)
(# Cos: 13645 | $130B)
Consumer Payments (Grab)
(# Cos: 4424 | $75.7B)
Vertical Payments (Fawry)
(# Cos: 1480 | $2.3B)
Bill Payments (Papaya Payments)
(# Cos: 1020 | $1.7B)
Credit Cards (CRED)
(# Cos: 24 | $1.2B)
CRED
(2018, India, $694M)
Walnut
(2014, India, $9.4M)
Bright
(2019, United States, $31.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
CRED (2018, India)
$251M - Series E - Oct 2021
CRED (2018, India)
$215M - Series D - Apr 2021
Bright (2019, United States)
$31.0M - Series A - Sep 2021
Max Rewards (2016, United States)
$3.0M - Seed - Sep 2021

57. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Invoice Processing Automation
49
57
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$489M (▼10.8%)
8(▼38.5%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
10
$2.1B
35
1
225
8
Finance & Accounting Tech (Intuit)
(# Cos: 11734 | $35.9B)
Accounting Solutions (Fiserv)
(# Cos: 7888 | $23.6B)
Procure to Pay (Coupa)
(# Cos: 1054 | $9.8B)
Account Payables (MineralTree)
(# Cos: 298 | $2.4B)
Invoice Processing (AvidXchange)
(# Cos: 225 | $2.1B)
AvidXchange
(2000, United States, $1.2B)
Melio Payments
(2018, United States, $506M)
Plate IQ
(2014, United States, $164M)
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
Stampli (2014, United States)
$50.0M - Series C - May 2021
Higo (2017, Mexico)
$23.0M - Series A - Sep 2021
Higo (2017, Mexico)
$3.3M - Seed - Mar 2021
Fishtail (2021, United States)
$1.3M - Seed - Dec 2021
Nook (2015, United Kingdom)
$1.1M - Seed - Oct 2021
View all 8 Funding Rounds on Tracxn Platform

58. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
FinTech - Top Business Models Report
Recent Funding Rounds
Cryptocurrency Staking
50
58
Back to index
Taxonomy
$ Invested in last 1 year
Key Stats
# Funding Rounds in last 1 year
$481M (▲1470%)
14(▲55.6%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$836M
41
1
134
6
Cryptocurrencies (Coinbase)
(# Cos: 17903 | $31.4B)
Mining (Bitmain)
(# Cos: 2117 | $3.2B)
Pool Mining (Staked)
(# Cos: 470 | $975M)
Staking (Circle)
(# Cos: 134 | $836M)
Circle
(2013, United States, $686M)
Staked
(2018, United States, $4.5M)
Tokens.com
(2020, Canada, $25.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Circle (2013, United States)
$440M - Series F - May 2021
Lido (2020, Finland)
$70.0M - Series A - Mar 2022
Stader Labs (2021, Singapore)
$12.5M - Series A - Jan 2022
pSTAKE (2021)
$10.0M - Series A - Nov 2021
ClayStack (2020, Singapore)
$5.2M - Seed - Jul 2021
Stader Labs (2021, Singapore)
$4.0M - Seed - Oct 2021
Pillow Fund (2021, India)
$3.0M - Seed - Jan 2022
View all 14 Funding Rounds on Tracxn Platform

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FinTech - Top Business Models Report
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