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15 Fintech Companies to Watch in 2020: Part II

Happy 2020 readers! This is the second post in a two-part blog series titled 15 fintech companies to watch in 2020. Read part one with the first 7 fintech companies to look out for and meet us back here shortly

Here are the last, but certainly not least, 8 of 15 fintech companies to watch out for in 2020—and the ones that we believe are paving the way for an entirely new financial industry in the years to come.

15 fintech companies to watch in 2020: Part II 

8. Hydrogen

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American global fintech company Hydrogen is an acceleration platform from which businesses can deploy fintech apps and solutions. Hydrogen provides its B2B customers with a powerful toolkit in order to build innovative digital financial applications at a fraction of the time and cost. For example, VoPay and Hydrogen have partnered to offer end-to-end open banking payments in 2020 and beyond. Hydrogen is part of a leading group of firms that are helping make fintech 2.0 more open, accessible, and innovative through APIs (Application Programming Interface). 

9. KOHO

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One review of KOHO Financial called it a “marriage of a bank and budgeting app,” which is a helpful way to put it. This Toronto fintech company is a mobile-banking service that has helped more than 120,000 Canadians track their spending. In May 2019, the company raised $42-million in growth capital. Similar to a chequing account, users put money into their KOHO accounts and spend as if it were a credit card (but without the monthly fees). The app tracks their spending, savings, and helps them budget toward goals in real-time. 

10. Envestnet | Yodlee

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The American software company, Envestnet | Yodlee, is a leading data aggregation and data analytics platform for digital financial services. Envestnet | Yodlee as over 25 million users worldwide and over 1,200 financial institutions and fintech partners (including 15 of the top 20 U.S. banks). It supports and powers many financial technology companies and banks, allowing users to access their personal financial accounts from any device, anywhere and transform modern banking. 

11. Borrowell

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In 2019, Borrowell closed a $20 million Series B funding as it reached over one million users. This Canadian fintech company gives its users a free credit report and credit score—no strings attached. Borrowell helps Canadians track their credit score and make better, more informed decisions about their credit (and financial situation). 

“Consumers want to know where they stand with their finances,” Andrew Graham, co-founder and CEO of Borrowell told BetaKit. “We help them do that, with our free tools, product recommendations and credit scores and reports.”

12. Flinks

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Flinks is a Montreal-based data software company that connects to over 250 million financial accounts and provide financial insight and credit risk intelligence. In other words, it provides the necessary link and data between mobile financial apps, financial institutions and consumers who want to modernize their banking. For example, in October 2019, Flinks and VoPay announced an official partnership in order to provide a secure consumer-focused open banking payment solution via VoPay. 

13. Kabbage

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Kabbage Inc. was named on the Forbes Fintech 50 2019 and recently valued at $1.2 billion. This Atlanta-based fintech company saw an opportunity back in 2008 to improve the efficiency and profitability of small business lending. Where banks have a high standard to meet for small business loans, Kabbage’s automated lending platform pulls data from many data sources. This allows Kabbage to automatically evaluate the health of the business, asses the risk, and provide a line of credit where applicable.

14. MX

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MX has been called one of the fastest-growing fintech companies—and one to watch out for in 2020. MX provides financial services data, such as data aggregation, enhancement, and analytics, and experience, such as mobile banking and verification. In June 2019, the company announced a $100 million Series B round of financing, bringing the total equity financing to $175 million. According to Battery Ventures’ (the Series B investor) Michael Brown, “MX is powering some of the top financial institutions in the world and is simply one of the most promising fintech companies we’ve ever seen.” 

15. VoPay

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Last, but most certainly not least on the 15 fintechs to watch in 2020, is VoPay. This Canadian-headquartered fintech company is a leader in digital payment technology innovation. VoPay empowers businesses to provide exceptional financial services and create a customer-focused open banking payment solution. The company made several strategic moves in 2019, including by announcing its partnership with Hydrogen and with Flinks in order to offer seamless banking experiences for users across North America.  

Stay tuned for more growth from us in 2020 and beyond. Learn more about VoPay and our payment solutions

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Philipp Postrehovsky

The author Philipp Postrehovsky

VoPay CMO: Philipp is a product visionary, brand builder and an award-winning marketer who has been involved in the Vancouver tech scene for over 15 years. In 2013 he co-founded RentMoola, which continues to be one of North America's leading fintech companies with the mission to eliminate the rent cheque and modernize rent collection for the enterprise. Before that, he was a brand leader for Mogo Technologies and Wonga Canada and began his career at Electronic Arts. Most recently, he led the marketing team at Progressa which was No. 11 on the 2019 Growth 500 ranking of Canada's Fastest-Growing Companies. He is the founder of Grind For Kids, a program that raised over $1 million for BC Children’s Hospital Foundation and sits on the Board of one of BC’s top independent schools.

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