NEW YORK – June 8, 2021 – Forbes today released its sixth annual Fintech 50 list, a definitive ranking of the world’s most innovative financial technology companies that are changing the way people save, spend and invest. The Forbes Fintech 50 celebrates private startups transforming financial services, that have headquarters or substantial operations in the U.S.. Valuations in the fintech sector are growing, with 11 honorees currently worth $5 billion or more, up from 10 worth $3.7 billion or more from last year. Of the 50 companies on this year’s ranking, there are 20 first-time honorees, signaling a market that is primed for innovation and reflecting the money and ideas flooding into the industry.

·       “The 2021 Fintech 50 list showcases how the pandemic impacted the industry, with payment processors and digital quasi-banks emerging as winners as shopping and banking went increasingly virtual over the past year,” said Janet Novack, Forbes’ Washington Bureau Chief and Assistant Managing Editor. “We had 20 newcomers in the list this year, ranging from blockchain and bitcoin, to real estate, and insurance. Returning to the list, and number one in value, is San Francisco-based payments processor Stripe, which has seen its valuation soar to $95 billion, from $35 billion last year.”

·       Notable newcomers include Blend, a mortgage lending software platform that allows the mortgage application, underwriting and closing process— once a weeks- or months-long process — to be done almost entirely digitally, saving time and operational costs. Blockchain and bitcoin companies Paxos and BlockFi, also newcomers on this year’s ranking, were both valued at $2 billion or more.

·       Seven 2020 list makers have “graduated” by going public, including crypto exchange Coinbase and Opendoor Technologies. Expect more changes to next year’s list, as a number of the companies on the current list are expected to go public in the coming months.

For more information about the Forbes Fintech 50 List and the full list, visit: FORBES.COM/FINTECH/2021

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