Here are the 20 newcomers to the 2021 Forbes Fintech50:
Samir Goel and Abbey Wemimo, cofounders of Esusu, a startup that lets low-income consumers report rent payments to credit bureaus for free as a way to boost their credit scores.Reported by: Jeff Kauflin, Nina Bambysheva, Jason Bisnoff, Michael del Castillo, Steven Ehrlich, Eliza Haverstock, Jonathan Ponciano and Kristin Stoller
Alongside bitcoin’s rise, blockchain and cryptocurrency companies took off, including Paxos, whose technology serves as the backbone for PayPal, Venmo and Credit Suisse’s crypto services. Fireblocks helps financial institutions like BNY Mellon to store and transfer digital assets. Kraken is the second-largest cryptocurrency exchange in the U.S. whose stock has traded on private markets at a $20 billion valuation.
Banks, fintech startups and retailers use Arcus’ software to offer digital wallets and online payments to their end customers in Latin America. Walmart’s digital banking app Cashi allows users in Mexico to deposit cash into a digital account and pay utility bills thanks to Arcus.
Bona fides: Founded in 2017, it already has more than 42,000 customers and its gross written premiums are running at a $240 million annual rate Launched in 2017 as a digital bank for teens, it rolled out adult accounts in 2019. Attracts adults earning an average of $45,000, many opening their first accounts, with features like early access to direct deposited paychecks, overdraft coverage of up to $100, budgeting tools and a rewards debit card.
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