Tuesday, January 31, 2023
LetsAskBinu.com
  • Home
  • Cybersecurity
  • Cyber Threats
  • Hacking
  • Protection
  • Networking
  • Malware
  • Fintech
  • Internet Of Things
No Result
View All Result
LetsAskBinu.com
No Result
View All Result
Home Fintech

The Fintechs Proving Unicorns Can Happen in Under a Year

Researcher by Researcher
January 16, 2023
in Fintech
0
The Fintechs Proving Unicorns Can Happen in Under a Year
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Achieving unicorn status is a major milestone for any fintech capable of reaching this feat. With this in mind, a new study has revealed the industry players to reach the $1billion valuation mark the fastest.

Data from the price comparison website Utility Bidder has listed the fintech unicorns to have broken through the $1billion ceiling the fastest.

Figures also discuss the most valuable fintechs and their origins, revealing the top destination for the fintech unicorn crowd. So who’s at the top of the list?

Pacaso – 174 days

Pacaso took the crown for the quickest company to become a unicorn company, taking less than half a year to reach unicorn status.

Founded in October 2020, the San Francisco-based property broker’s valuation topped $1billion within five short months of operation. As top of this list, its crowning was partially expedited by its $75million equity financing of March 2021. This was in addition to securing $1billion in debt financing.

Its Maveron-led series A which set its foundation at launch raised an initial $17million in conjunction with $250million in debt financing.

The company has subsequently expanded its operations to Spain.

Magic Eden – 277 days

In second place, Magic Eden crossed the $1billion mark at just nine months old. The Solana non-fungible token (NFT) marketplace launched in September 2021, and reached unicorn status in June last year. This was after its $130million series B round co-led by Electric Capital and Greylock Partners, which followed a $27million series A the previous March.

Magic Eden currently mints around 50,000 NFTs a day and is responsible for 92 per cent of all Solana-based NFT volume.

Zebec – 301 days

Zebec completes the top three, taking 301 days to achieve unicorn status after it was founded in November 2021.

It’s a programmable cash flow protocol based on the Solana network and is headquartered in the US. The company announced unicorn status in August 2022 amid a notable drop in new unicorns at the time.

Its August funding round increased its valuation past $1billion, led by Circle Ventures, Shima and Resolute. This was in addition to a $15million funding round the February previous, with Zebec securing a cool $42.5million in funding to date.

The American dream

In addition to the top three, the data also pinpoints where on the map these fintechs are based. Not only are all three American companies, but each is headquartered in sunny San Francisco.

As anticipated by The Fintech Times, Silicon Valley has come to prove itself as a west coast wonder of fintech innovation.

The city’s defining start-up community are following in the footsteps of fintech’s biggest success stories (Credit Karma, Coinbase and the most valuable unicorn of all Stripe); as Utility Bidder’s data indicates. It’s no wonder then that nine of the 10 biggest fintech companies in the US are based in the region.



Source link

Related articles

KITMEK Launches $1 Digital Only School for Children Across MENA

KITMEK Launches $1 Digital Only School for Children Across MENA

January 31, 2023
Visa Celebrates Disney’s 100 Year Anniversary

Visa Celebrates Disney’s 100 Year Anniversary

January 30, 2023
Tags: FintechsHappenprovingUnicornsyear
Share76Tweet47

Related Posts

KITMEK Launches $1 Digital Only School for Children Across MENA

KITMEK Launches $1 Digital Only School for Children Across MENA

January 31, 2023
0

KITMEK, a new interactive digital school, has officially launched; costing just one dollar per month for children across MENA.The KITMEK...

Visa Celebrates Disney’s 100 Year Anniversary

Visa Celebrates Disney’s 100 Year Anniversary

January 30, 2023
0

The Walt Disney Company has joined forces with digital payments leader Visa, for a new integrated campaign. The partnership sees...

Communities for Nature Charity Launches to Address Environmental Issues

Communities for Nature Charity Launches to Address Environmental Issues

January 29, 2023
0

A new London-based environmental charity, Communities for Nature, has officially launched, aiming to address the most pressing environmental challenges. Communities for...

71% of Executives Report AI Already Impacts How They Work; Reveals Digital Transformation Study

71% of Executives Report AI Already Impacts How They Work; Reveals Digital Transformation Study

January 29, 2023
0

It is no secret that digital transformation is currently one of the most important ways for companies to get ahead....

Worldline Develops Buland Bharat Digital Payments Suite for Small Business Merchants in India

Worldline Develops Buland Bharat Digital Payments Suite for Small Business Merchants in India

January 29, 2023
0

Worldline launches digital payments suite for small and medium businesses (SMBs) in India. Buland Bharat, the latest development from the payment...

Load More
  • Trending
  • Comments
  • Latest
This Week in Fintech: TFT Bi-Weekly News Roundup 08/02

This Week in Fintech: TFT Bi-Weekly News Roundup 15/03

March 15, 2022
QNAP Escalation Vulnerability Let Attackers Gain Administrator Privileges

QNAP Escalation Vulnerability Let Attackers Gain Administrator Privileges

March 15, 2022
Supply chain efficiency starts with securing port operations

Supply chain efficiency starts with securing port operations

March 15, 2022
A first look at threat intelligence and threat hunting tools

A first look at threat intelligence and threat hunting tools

March 15, 2022
Beware! Facebook accounts being hijacked via Messenger prize phishing chats

Beware! Facebook accounts being hijacked via Messenger prize phishing chats

0
Shoulder surfing: Watch out for eagle‑eyed snoopers peeking at your phone

Shoulder surfing: Watch out for eagle‑eyed snoopers peeking at your phone

0
Remote work causing security issues for system and IT administrators

Remote work causing security issues for system and IT administrators

0
Elementor WordPress plugin has a gaping security hole – update now – Naked Security

Elementor WordPress plugin has a gaping security hole – update now – Naked Security

0
Novel Malware Installed in VMware ESXi Attacks

VMware Fixes vRealize Log Insight RCE Bugs

January 31, 2023
KITMEK Launches $1 Digital Only School for Children Across MENA

KITMEK Launches $1 Digital Only School for Children Across MENA

January 31, 2023
Whole-Network Visualization With Meraki Dashboard

Whole-Network Visualization With Meraki Dashboard

January 31, 2023
Securing CI/CD. There are many organizations moving to… | by Binu Panicker | Jan, 2023

Securing CI/CD. There are many organizations moving to… | by Binu Panicker | Jan, 2023

January 30, 2023

Recent Posts

Novel Malware Installed in VMware ESXi Attacks

VMware Fixes vRealize Log Insight RCE Bugs

January 31, 2023
KITMEK Launches $1 Digital Only School for Children Across MENA

KITMEK Launches $1 Digital Only School for Children Across MENA

January 31, 2023
Whole-Network Visualization With Meraki Dashboard

Whole-Network Visualization With Meraki Dashboard

January 31, 2023

Categories

  • Cyber Threats
  • Cybersecurity
  • Fintech
  • Hacking
  • Internet Of Things
  • Malware
  • Networking
  • Protection

Tags

Access attack Attacks banking BiWeekly bug Cisco cloud code critical Cybersecurity Data Digital exploited financial Finds Fintech Flaw flaws Google Group Hackers Krebs Latest launches malware Microsoft million Network News open patches Payments platform Ransomware RoundUp security Software TFT Threat Top vulnerabilities vulnerability warns Week

© 2022 Lets Ask Binu All Rights Reserved

No Result
View All Result
  • Home
  • Cybersecurity
  • Cyber Threats
  • Hacking
  • Protection
  • Networking
  • Malware
  • Fintech
  • Internet Of Things

© 2022 Lets Ask Binu All Rights Reserved