After the roller-coaster time of 2020, 2021 will be all about personalization, integrations, and connections. Customers want to enjoy a broader spectrum of services. This is one of the significant reasons why FinTech companies are joining forces with firms offering added value. Eventually, people expect a connection with other people. Any company that will design communities around their products will win people’s minds and wallets.
Companies that will create communities around their products will win people’s minds and wallets. Fintech is one such booming industry that is on everyone’s mind, primarily investors. The explosion of Fintech companies and startups isn’t surprising. As the tech-savvy millennials generation has aged, banking and financial options evolved. Once rare perks like mobile banking became standards, forcing brick and mortar institutions to become tech-enabled. Below are the top 15 promising fintech startups you should know in 2021.
The first company to hit the list is Zego. It is an innovative company that builds upon the gig economy and offers vehicle insurance for private and company fleet use. The company uses granular data streams to evaluate pricing levels and ensure acceptable rates. They provide the most flexible policies, which are available from 1 hour to 1 year.
A business with a mission. Lemonade reverses the classic insurance model. It takes the flat fee, pays claims, and gives back the remaining social causes chosen by the community. It is predicted to be one of the top FinTech companies in 2021. In less than three years, Lemonade has taken the US market by storm and is only gaining more traction. This is a strong sign of the growth of the business. Above all the company is rated 4.9 stars on Google Play Store.
3. True Accord
True Accord applies machine learning to help thousands of companies accumulate debts in a way that suits both companies and customers. TrueAccord uses modern forms of communication instead of cold calling or sending debt collectors. These modern forms of communication methods include texts and push notifications to boost customer engagement and payback rates. The company provides customers with outstanding debts with a platform that allows them to personalize the time, channel, and payment arrangements.
Eqvista helps entrepreneurs record and manage their company’s stocks. The company’s sophisticated software and technology will transform your company and work. The company issues shares to founders, employees & investors. They help the company issue online shares, and the need for paper share certificates is no longer needed. They help businesses manage their cap table, company shares, and valuations.
London-based Fintech company Laka is a community-based model for bicycle insurance. The startup doesn’t have a fixed price. Instead, the team calculates monthly subscriptions based on the overall sum of claims. The lesser the claims in a month, the lower the charge is for the next one. It creates an exciting mentality model. This is the model wherein customers are encouraged to think collectively. Plus, there’s the 80%—20% rule: the latter sum goes to Laka, 80% to the users.
6. Spring Labs
Using a powerfully transparent blockchain and real-time data ledger technology, spring labs facilitate secure information transferring between businesses. By verifying identities with multiple products and income stability indicators, protecting consumer data, and streamlining the credit transaction approval process, the platform also enables companies to reduce fraud. The company redefines how the data is exchanged and predicts a new age of data sharing and security.
Nimbla is a program for small or medium-sized businesses. It encourages them to assess the financial risk of outstanding invoices and shields them from bad debt. It uses invoice insurance against non-payments. Nimbla transforms the way businesses operate with the help of software development solutions.
This company provides an AI-powered platform that preserves e-commerce sites by quickly separating legitimate shoppers from fraudulent requests. It is easier for legitimate shoppers to convert into customers with tools like dynamic checkouts with this platform’s help. They also present alternative payment processing and chargeback guarantees included with Riskified’s ATO prevention and pre-authorization solutions. These solutions help and fix leaks in the e-commerce marketing funnel and build stronger customer relationships.
Spot helps in lowering the medical bills to a magical zero. With a monthly subscription, clients can avoid costly visits to the hospital. It is possible for them to finally land there since they target individuals with an active and adventurous lifestyle. From stitches to surgery, everything is covered by them. With the smallest amount of $25, they enable their customer to get injury insurance.
The Blend is a digital lending platform that simplifies the loan process and provides consumers a more transparent look into their finances. The combination of low-touch pre-approval processes with quick data verification tools provided by this platform is to design software that automates and expedites the lending process for everything from mortgages to car loans. The company offers to major financial institutions, like Wells Fargo, US Bank, the tools they need to process billions of dollars of loans each day.
11. BLX Group
The next on the list is the BLX group. It provides nonprofits and government organizations with compliance consulting, investment, and financial advisory services. The company gives a wide range of investment and regulatory advice to help organizations invest their time and money more wisely. The company’s headquarters are in Los Angeles, with offices in New York, Dallas, Phoenix, and Tampa. They use technology to improve workflow and deliver the best client experience.
Are you finding a better way to do VC, PE and M&A? Pitchbook got you covered. It is a financial software and data company that provides information about public and private equity markets. The platform helps various companies, investors, advisors, and professionals to capitalize on new business opportunities.
It does this with the help of due diligence research on private market intel, fundraising information, and source investments. The pitchbook platform provides you supreme and robust products that give you an edge and have successful results.
Another effective loan service on the list is Avant. It is a loan service for middle-income customers that provides loans ranging from $2,000-$35,000. It is an incredible platform with exceptional services. The service operates mainly as a resource for customers to access funds for things such as consolidating debt or paying unexpected bills. Avant requires only a simple application and approves loans in as little as one day. It supports you and offers you a clear and transparent process.
The next one is one with a quirky name. The name Go-Jek sounds like a calling for a Jack Russel dog. It is a fair comparison with Jack Russek and is incredibly correct. Jack Russel is fast, full of character and charm, similar to Go-Jek. This is an Indonesian-based company. Its financial arm GoPay is practiced in almost 400 cities in Indonesia. However, just like other super apps in Asia, Go-Jek offers a lot more than an app. It provides payments, video streaming access, investment opportunities, and even food order service.
This platform applies machine learning to help users better manage their costs. Finance, procurement, and operations departments can all use the company’s platform to examine spending trends. The company aims to hit savings goals and even find areas where money is being inefficiently spent. Wayfair, Nordstrom, and Spending Tree are just a few of the companies that use this platform to analyze, predict and cut down on costs.
It doesn’t matter whether you already have a business or you are planning to develop a new one. As a business person, you must know all the trending companies that can help you in one way or the other. Whether from their services or the inspiration you get from their business ideas; each and every one of them will help you.