New York, NY, June 27, 2017 — CB Insights today named Point to the prestigious Fintech 250, a select group of emerging private companies working on groundbreaking financial technology. CB Insights CEO and co-founder, Anand Sanwal, revealed the Fintech 250 companies during The Future of Fintech, a gathering of the world’s largest financial institutions, best fintech startups, and most active venture investors.
“The financial services industry will see more change in the next 10 years than it has in the last 100. And that transformation is being driven by a group of smart insurgent startup companies. The Fintech 250 are the most promising of these insurgents. They are bringing emerging technologies and business models to financial services that will permanently change the way we handle money and do business,” said CB Insights CEO Anand Sanwal.
“Point is experiencing phenomenal growth as our product creates new opportunities and solves significant problems for homeowners across the country. Our drive to create new financial solutions that align homeowners and investors is beginning to change the financial landscape. Recognition of this progress is always welcome, especially when it comes from a data-driven organization known for its insights and analysis,” said Point’s Chief Executive Officer, Eddie Lim.
The CB Insights research team selected the Fintech 250 companies based on several factors including data submitted by the companies and the company’s Mosaic Score. The Mosaic Score, based on CB Insights’ National Science Foundation-funded algorithm, measures the overall health and growth potential of private companies. Through this evidence-based, statistically-driven approach, the Mosaic Score can help predict a company’s momentum, market health and financial viability.
Point investors Ribbit Capital and Andreessen Horowitz top the list of investors with portfolio companies in the list with 17 and 9 respectively. Industry leaders in fintech join Point in being recognized for their innovative technology in front of an audience of 1000 senior executives from around the world and news outlets including The New York Times, The Wall Street Journal, The Financial Times, Reuters and Bloomberg.
Quick facts on the Fintech 250:
- These 250 emerging private companies have raised $14B across 240 deals in 2016.
- Applications of their technology include breakthroughs in insurance, lending, payments, human resources, real estate, and much more.
- More than 2,000 companies were nominated or applied for the Fintech 250 (only 8% were selected).
- Ribbit Capital has backed 17 of the Fintech 250 companies, while Andreesen Horowitz and Goldman Sachs backed 9.
- Twenty-three Fintech 250 companies have reached a valuation of $1B or more.
- 23 countries are represented among the Fintech 250 companies.
About CB Insights
Our team comes to work every day to build technology that helps corporations guess less and win more. We aggregate and analyze massive amounts of data and use machine learning, algorithms and data visualization to help corporations replace the three Gs (Google searches, gut instinct and guys with MBAs*) so they can answer massive strategic questions using probability not punditry.
With backing from the National Science Foundation and venture capital investors, we mine terabytes of data and knowledge contained in patents, venture capital financings, M&A transactions, hiring, startup and investor websites, news sentiment, social media chatter, and more. Our software algorithmically analyzes this data to help our clients see where the world is going tomorrow, today.
Contacts for CB Insights
Farrah Kim, PR Manager
Point is the first financial technology platform that allows homeowners to unlock their home equity wealth without taking on new debt and gives investors access to a new asset class — owner-occupied residential real estate. Launched in 2015, Point was founded by Eddie Lim, Eoin Matthews and Alex Rampell following their own frustrations with home financing. The Palo Alto-based company is backed by some of the nation’s leading venture capital firms and individual investors including Andreessen Horowitz, Ribbit Capital, Bloomberg Beta, Vikram Pandit and Laurence Tosi. For more information, please visit point.com.
Contacts for Point
Point Digital Finance, Inc.