CB Insights last week unveiled its Fintech 250 list, which compiles what it deems the 250 best private fintech companies of 2020.
“The financial services industry continues to attract tech companies that transform how people and businesses spend, save, borrow, invest, and more,” the report read. “From capital markets to insurance and digital banking to wealth management, the Fintech 250 are among the most promising of these companies globally.”

According to the business analytics platform, the companies on the list have raised a total of $49.2 billion from almost 900 deals since 2015. Since the start of 2020 through late August, the companies have raised $10.3 billion from 120 deals.
The list includes 32 companies valued at more than $1 billion. This year has seen 35 funding rounds of $100 million or more. Nearly half of the Fintech 250 businesses are based in the United States, followed by the U.K. and India, with the second- and third-most businesses on the list. Venture capital firm Ribbit Capital has been the most active with these companies, having invested in 45 deals since 2018.
The Singapore-based super app Grab, which offers everything from payments to transportation to food delivery, has raised more money than any company on the list — about $9.7 billion through 22 rounds since 2014. The company raised $856 million earlier this year.
See also: CB Insights: Fintech funding rebounds in Q2
The report highlighted some of the most well-funded startups in different categories. AvidXchange was the most well-funded accounting and finance startup. The B2B startup, which offers automated invoicing and outgoing payments, has raised $388 million so far this year and $925 million in total. BlueVine took the top spot for business lending and finance startups. The SMB lender pivoted to PPP loans earlier this year and has raised more than $690 million, according to Crunchbase. Varo Money, which has raised almost $420 million, was the most well-funded fintech in the personal finance category. The startup earned a national bank charter in July.
CB Insights examined a pool of 16,000 startups that were chosen “based on several factors, including data submitted by the companies, company business models and momentum in the market, and Mosaic scores, CB Insights’ proprietary algorithm that measures the overall health and growth potential of private companies,” the report read.
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