THE FORBES FINTECH 50
ICAPITAL NETWORK NEW YORK CITY INVESTING
Platform allows high-net-worth clients to invest as little as $25,000 per fund in private equity, debt, VC and hedge funds.
FUNDING: $80 million; latest valuation of $700 million1
BONA FIDES: $47 billion in assets invested through the platform
COFOUNDER & CEO: Lawrence Calcano, 57
INSURIFY CAMBRIDGE, MASSACHUSETTS INSURANCE
Comparison site aims to use AI to sell auto, home and life policies online, without buyers talking to human agents.
FUNDING: $30 million
BONA FIDES: Has closed 130,000 auto policies, 67% of them without touch of human agent
COFOUNDER & CEO: Snejina Zacharia, 43, a native of Bulgaria
KABBAGE ATLANTA B2B LENDING
Its automated system approves lines of credit up to $200,000 in minutes. New service helps small businesses manage invoices and receivables.
FUNDING: $489 million; latest valuation of $1.2 billion
BONA FIDES: Has loaned more than $9 billion, including about $3 billion in 2019, to 220,000 small businesses
COFOUNDERS: CEO Rob Frohwein, 52; president Kathryn Petralia, 49
KINDUR NEW YORK CITY INVESTING
Hybrid advice service lures Boomers with free robo-retirement-income plans, then pitches comprehensive money management with a dedicated human advisor for 0.50% of assets on accounts of $5,000plus, 0.25% on $500,000-plus.
FUNDING: $11 million; latest valuation of $35 million1
BONA FIDES: 21,000 people with $14 billion in retirement savings have built free plans on Kindur since its launch last April
FOUNDER & CEO: Rhian Horgan, 42
LEMONADE NEW YORK CITY INSURANCE
Sells renters’ insurance from $5 a month and homeowners’ from $25 a month using AI to approve coverage in 90 seconds and pay claims in as little as three minutes. Discourages bogus claims by donating excess (after claims, expenses and fixed fee) to charity. Now in 26 states, D.C. and Germany.
FUNDING: $480 million; latest valuation of $2.1 billion1
BONA FIDES: More than 500,000 customers, producing annual recurring revenue of $115 million
COFOUNDERS: CEO Daniel Schreiber, 49; COO Shai Wininger, 46
LIVELY SAN FRANCISCO PERSONAL FINANCE
Digital health-savings-account platform offers workers access to fee-free investing (through TD Ameritrade) of money they’ve socked away tax-free for future medical costs.
FUNDING: $42 million; latest valuation of $112 million1
BONA FIDES: Users have nearly $200 million in accounts, double the amount a year ago
COFOUNDERS: CEO Alex Cyriac, 37, and COO Shobin Uralil, 38