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25 Fintech Unicorns stumble, but still stampeding

I’ve discovered lots of lists of Fintech unicorns.  The main list is from Jim Bruene; there's a nice list that is from a European's perspective by Bernard Lunn;  and a UK list published by me the other day.  In fact, in preparing some charts yesterday, I scraped the list of Unicorns and valuations as of last week and compared them with their valuations this week, after the Chinese meltdown that’s now being called Black Monday (shouldn’t we call it the Black Tiger Monday?).

I’m sure you already know this but, if you look at today’s headlines, here’s the summary of what happened yesterday:

Severe losses in Chinese markets prompted a global sell-off.  Many expected the Chinese government to take measures such as cutting interest rates or injecting liquidity to stop further losses after the Shanghai Composite Index fell nearly 12 per cent last week. No action prompted further losses of 9 per cent on Monday.  Monday’s bloodbath marked the tenth day of consecutive losses, the longest straight period of decline since 2003.   

It’s not great.  LendingClub is now valued at half of it’s IPO price, and most Fintech unicorns lost 5% in value over the weekend.  Nevertheless, there are some major titans out there.  For example, the Top 25 Fintech Unicorns have a combined value of over $63 billion (£40 billion).  That’s around the same as Barclays Bank (market cap: $66 billion, £42 billion).  Not bad for an industry that’s just ten years old.

Unicorn-Stampede_art

Image from Imagekind

Here’s the latest list of Fintech Unicorns, based upon their most recent valuations according to Business Insider:

1. Lufax, Chinese peer-to-peer lender, founded: 2011

Value:         $10 billion (£6.3 billion)

2. Square, smartphone card readers, small business loans, and online payments, founded: 2009

Value:         $6 billion (£3.8 billion)

3. Markit, financial information and data provider, founded: 2003

Value:         $5.1 billion (£3.2 billion) August 21 2015

                   $4.85 billion (£3 billion) August 25 2015 

4. Stripe, online payment processing, founded: 2010

Value:         $5 billion (£3.1 billion)

5. Lending Club, America's biggest peer-to-peer consumer loans platform, founded: 2007

Value:         $8.9 billion ($5.8 billion) at IPO, December 18 2014 

                   $4.7 billion (£3 billion) August 21 2015

                   $4.5 billion (£2.8 billion) August 25 2015 

6. Zenefits, free HR software for small businesses, founded: 2013

Value:         $4.5 billion (£2.8 billion)

7. Credit Karma, free credit scores, founded: 2007

Value:         $3.5 billion (£2.2 billion)

8. Powa Technologies, makes mobile payment products, founded: 2007

Value:         $2.7 billion (£1.7 billion)

9. Klarna, online payment processing, founded: 2005

Value:         $2.25 billion (£1.4 billion)

10. CommonBond, a peer-to-peer student loans marketplace, founded: 2011

Value:         $2 billion (£1.2 billion)

11. One97, bill payments and online shopping, founded: 2000

Value:         $2 billion (£1.2 billion)

12. Prosper, a peer-to-peer lending platform for consumers, founded: 2005

Value:         $1.9 billion (£1.2 billion)

13. Zuora, software that lets companies take subscriptions, founded: 2007

Value:         $1.5 billion (£960 million)

14. FinancialForce.com, sells cloud-based accounting apps, founded: 2009

Value:         $1.5 billion (£960 million)

15. Oscar Health, online health insurance, founded: 2013

Value:         $1.5 billion (£960 million)

16. Adyen, an online payment processor​, founded: 2006

Value:         $1.5 billion (£960 million)

17. Xero, makes cloud-based accountancy software for small businesses, founded: 2006

Value:         $1.4 billion (£890 million) August 21 2015

                   $1.25 billion (£800 million) August 25 2015

18. iZettle, makes card readers for smartphones, founded: 2010

Value:         $1.4 billion (£890 million)

19. SoFi, a marketplace for student loan refinancing, founded: 2011

Value:         $1.3 billion (£830 million)

20. Housing.com, online Indian real estate platform, founded: 2012

Value:         $1.3 billion (£830 million)

21. Qufenqi, lets Chinese consumers buy electronics in instalments, founded: 2014

Value:         $1.3 billion (£830 million)

 22. Funding Circle, a peer-to-peer loan platform for small businesses, founded: 2009

Value:         $1 billion (£640 million)

23. Jimubox, a Chinese peer-to-peer loan provider, founded: 2013

Value:         $1 billion (£640 million)

24. TransferWise, an international money transfer service founded: 2010

Value:         $1 billion (£640 million)

25. Mozido, a mobile payment and wallet provider, founded: 2005

Value:         $1 billion (£640 million)

 

About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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  • Nice post!
    Although I’m not sure if Housing.com would be purely Fintech.

  • Chris Skinner

    Neither is Markit or One97. List chosen by Business Insider fyi.