September 2, 2020
Cross River Named to the 2020 CB Insights Fintech 250 List for the Third Year
FORT LEE, N.J. - Cross River Bank (“Cross River”), a leading innovator and provider of banking services for technology companies, was recently named to CB Insights’ third annual Fintech 250, a prestigious list of emerging private companies working on groundbreaking financial technology.
“For the 3rd consecutive year, we are humbled to be included on the CB Insights Fintech 250, together with so many of our colleagues, partners and friends,” said Phil Goldfeder, SVP of Public Affairs at Cross River. “Our mission is to enable our partners to deliver financial solutions that empower businesses and consumers through our core banking infrastructure and leading technology.”
“We're proud to, once again, recognize the 250 best private fintech companies globally. This year's Fintech 250 represents 25 countries and spans 19 categories -- reimagining everything from retail banking and crypto, to insurance and asset management,” said CB Insights CEO Anand Sanwal. “The previous Fintech 250 class raised more than $22 billion in investor financing and saw more than 20 exits after being recognized, and we expect this year's class will have similar success as they continue to transform how people and businesses spend, save, borrow, and invest their money.”
Cross River has been named to the CB Insights Fintech 250 every year since the list began and is recognized for its core banking and leading infrastructure that helps power technology companies. Through an evidence-based approach, the CB Insights Intelligence Unit selected the Fintech 250 from a pool of 16,000 companies, including applicants and nominees, based on several factors. These factors include patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.
2020 Fintech 250 Highlights:
Unicorns: 32 of the 250 companies are valued at or above $1B as of their latest funding round
Funding trends: YTD, these 250 private companies have raised $10.3B in equity funding across 120 deals (as of 8/26/20)
Mega-rounds: Since 2019, there have been 87 mega-round ($100M+) equity investments to this year’s Fintech 250, with 35 of them in 2020 YTD (as of 8/25/20)
Global representation: 46% of the 2020 Fintech 250 are based outside the US. After the US, the UK is home to the most Fintech 250 companies (38), followed by India (20)
About CB Insights
At CB Insights, we believe the most complex strategic business questions are best answered with facts. We are a machine intelligence company that synthesizes, analyzes and visualizes millions of documents to give our clients fast, fact-based insights. Serving the majority of the Fortune 100, we give companies the power to make better decisions, take control of their own future, and capitalize on change.