November 26, 2018

The FinTech Unicorn Club Keeps on Expanding

The global FinTech industry continues to expand through a collaborative approach led by investments, acquisitions, buyouts, and partnerships. While there are hundreds of new startups being founded every week, several FinTech startups have gone on to reach the 1-billion-dollar valuation mark over the past few years. This not only highlights the confidence investors have in the innovation led by these startups, but this also showcases the consolidation of a new industry. As per MEDICI’s analysis, more than 50 FinTechs are now unicorns as of this date. While a major chunk of these unicorns comes from the lending segment which has contributed 24.1% to this unicorn club, segments such as cybersecurity, InsurTech, Neobank, B2B FinTech, etc., are also major contributors to the FinTech unicorn club. The past couple of years has seen a greatly enhanced activity in the space of FinTech VC funding, as a result of which more than half…

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