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Six biometrics companies included on 2020 CB Insights Fintech 250 List

Six biometrics companies included on 2020 CB Insights Fintech 250 List

CB Insights has just announced its third annual list for the top 250 leading fintechs that disrupt the industry with innovative technology, and some biometrics companies have found themselves on the list for the second consecutive year.

Biometrics companies Trulioo, Onfido, Socure, Behavox, BioCatch and HYPR have been included on the 2020 CB Insights Fintech 250 List of the fastest-growing fintech startups. Behavox, Socure and Trulioo have been named on the list for the second consecutive time.

Since 2015 and 900 deals later, the companies in the 2020 Fintech 250 cohort have collectively secured some $49.2 billion in funding.

The 250 teams were chosen out of 16,000 companies based on their business models and traction, 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 predict momentum.

“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,” CB Insights CEO Anand Sanwal said in the announcement. “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.”

The winners will give presentations at the virtual Future of Fintech Conference between Nov. 16 – 18.

Trulioo

Since 2011, Vancouver-based Trulioo has raised over US$ 70 million, invested in developing biometric identity verification technology for a wide number of businesses around the world, including large financial institutions and innovative tech companies.

“Now more than ever, we need to ensure that the most vulnerable people in societies all over the world have access to basic financial and healthcare services,” Steve Munford, CEO of Trulioo, said in a prepared statement. “We believe that digital identity is critical to achieving full financial inclusion and building trust in the digital economy.”

Onfido

Onfido is once again recognized for its biometric technology and fast growth, after in March the company was named to the CB Insights AI 100 ranking as one of the world’s most promising AI businesses.

In August, Onfido won a £5 million (US$6.6 million) grant to invest in the development of biometric fraud detection, data anonymization and document fraud prevention technologies for small and medium enterprises (SMEs).

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