CNBC’s annual Disruptor 50 Companies list includes 11 Fintechs with Robinhood leading the pack. Last year’s list included 12 Fintechs but this sector still tops all other categories. This really should come as no surprise to industry observers as innovation in financial services is forging forward at a robust pace. In fact, the COVID-19 health crisis has helped to fuel the transition from brick-and-mortar financial services to doing everything on your iPhone or Android device. Understandable, consumers and businesses no longer want to drive to a branch and queue up to complete financial transactions.
Overall, the Disruptors have raised a whopping $72 billion in VC funding and hold an aggregate value of around $388 billion. Other sectors on the list include sectors like AI, Medtech/Biomed, and much more.
Regarding the Fintechs that made the list, the names are as follows:
- Robinhood
- Stripe
- Brex
- Marqeta
- Chime
- TALA
- Ripple
- Plaid
- Nubank
- Patreon
- Flutterwave
Note, we believe that Bestow, as an Insurtech, should be part of the Fintech grouping as well but that’s our opinion.
The report on CNBC cited data from Blumberg Capital that indicated 78% see financial services going digital and 20% believe incumbents are moving too slowly in the adoption of digital-first technology.