Cashfree Payments, a major provider of payments and API banking solutions, was selected to CB Insights’ fourth annual Fintech 250, a renowned ranking of rising private businesses focusing on innovative financial technologies.
The list was announced live on stage at CB Insights’ Future of Fintech conference in New York City this year.
“This is the fourth class of the Fintech 250, and it’s also the most international, representing 26 countries. These 250 fintech startups are attacking an incredibly diverse array of financial services opportunities across 19 sectors, including digital banking, insurance, payroll, retail investing, and more,” said CB Insights CEO Anand Sanwal.
“After being named to the CB Insights Fintech 250 last year, the 2020 class saw 17 companies go public and 25 get acquired. They also went on to raise over $25B in additional financing and forged more than 380 new partnerships after being recognized. The Fintech 250 has a history of spotlighting the very best fintech companies, and this year is no different. We’re excited to see how these fintech startups disrupt and transform financial services in the years ahead.”
Akash Sinha, CEO and Co-Founder, Cashfree Payments said, “We are delighted to be recognised by CB Insights and named to the prestigious Fintech 250 list. This honour validates our efforts to constantly build innovative and effective solutions for the financial ecosystem. The groundbreaking solutions that we have developed, such as Payouts, are aimed at creating value at scale for our stakeholders and enhancing their operational abilities. The favourable regulatory environment in India, alongside the country’s healthy competitive ecosystem, have enabled us in this endeavour. We will continue with our vision to develop efficient and effective offerings that will contribute to the country’s financial inclusion imperative.”
The CB Insights Intelligence Unit chose the Fintech 250 from a pool of approximately 17,000 firms, including applications and nominations, using an evidence-based methodology. They were picked based on data provided by the firms, corporate business models and market momentum, and Mosaic ratings, CB Insights’ proprietary methodology that assesses the overall health and development prospects of private enterprises.
Cashfree Payments now leads the way in bulk disbursals in India with Cashfree Payments Payouts, with over 50% market share among payment processors. SBI, India’s largest lender, recently invested in Cashfree Payments, highlighting the company’s importance in developing a strong payments ecosystem. Cashfree Payments collaborates closely with all major banks to develop the fundamental payments and banking infrastructure that underpins the company’s offerings, and it’s also connected with popular platforms like Shopify, Wix, Paypal, Amazon Pay, Paytm, and Google Pay.