Technology and finance make the perfect couple, so we took a look at the fintech companies set to smash it in the months ahead.
- Circle- @circlepay
Breaking into the fintech industry is far from easy with fintech marketing being a particular challenge for many – but that hasn’t prevented several start-ups coming out on top. Circle – a P2P payment platform founded by Sean Neville and Jeremy Allaire – is certainly one to watch. Not only can users skip the ATM whenever they need to, but they can do so without exchange rate mark-ups and service fees. Circle has so far raised $136m in four funding rounds from 19 investors.
- CurrencyFair- @CurrencyFair
Founded in 2009 by Brett Meyers, CurrencyFair has been battling standard start-up issues over the years including steep administration expenses and staffing dilemmas. That said, with gross profits up and a goal to grow the business between 30 and 50 per cent each year, it’s clear that this company is fighting – and fighting hard.
As a unique money exchange platform which helps consumers and businesses avoid large charges when exchanging foreign currency, the concept is exciting. Its average fee is 0.38 per cent, compared with 2-5 per cent for other services and having raised €25 million in investment since it was founded, it’s one to watch through the coming year.
- PayFit – @PayFit
One of the main bugbears of any company is the niggling admin tasks that need to be done. French start-up company PayFit have found a solution to this, however, offering a ‘software as a service’ platform which helps SMEs to pay and organise their employees. PayFit recently raised a $15.9 million Series B round (€14 million) from Accel with Xavier Niel and Otium Venture also participating.
Fintech is all about problem solving and making yourself relevant in today’s market – and this is something currently being achieved by PayFit.
- Coinify – @coinify
Unless you’ve been living under a rock, you’ll know that digital payments are rising in popularity with cryptocurrencies being exchanged via the blockchain. Founded in 2014, Coinify embraces the latest digital trends operating as a blockchain payment service provider for merchants and consumers. Last year, Coinify raised $4 million in a Series A round led by SEB Venture Capital. More recently, SEB teamed up with Nasdaq to trial blockchain for mutual fund trading.
- Monzo – @Monzo
Monzo has developed somewhat of a cult following to date – but why is this digital, mobile-only, UK-based bank turning out to be such as success? Well, it offers instant feedback on your balance every time a transaction is made helping people to stay in control of their accounts and enjoy real-time information.
The company has great backing and looks set to flourish in the year ahead. Payments company Stripe have recently joined Goodwater Capital and investor Michael Moritz (through his charitable investment vehicles) in a recent £71 million investment round, joining existing investors Eileen Burbidge’s Passion Capital as well as Orange Digital Ventures and Joshua Kushner’s Thrive Capital.
- Tradesocio @Tradesocio
Tradesocio, a Cyprus based fintech company led by CTO Wael Salem, is completing its latest world tour to discuss its iconic Alpha Suite and one of the talking points of the tour was Alpha Funds. Alpha Funds has been a hit with fund managers due to its high functionality and features which allow them to
- Charge Performance, Subscription, Maintenance, Fixed, Exit and/or Trade Fees
- Set up their fund as a Professional Trader or Fund Manager
- Access a variety of real time reports about every aspect of their trading, investors, revenue and business.
- Add their MT4 trading account to Alpha and upload KYC documents
- Trade on their MT4, get allocations from investors and withdraw revenue
- Trade at their own broker, while receiving investment allocations from the Alpha Suite Community.
- Choose between a range of charging options and performance fees for their investors
It is completely free to become a Fund Manager on Alpha Suite and fund managers are only requested to share back a part of their revenue into the revenue sharing program, which is shared back with the business introducers and brokers, therefore aligning all participants to work on a common goal to provide the best investment service to the investor.
Which is your favourite fintech company or did we miss one out? Tweet us and let us know!