00:00 This year's ninth annual FinTech 50 list features firms that continue to innovate,
00:06 grow and adapt even as the industry suffers layoffs, lower valuations and a collapse in
00:11 venture capital support.
00:13 Funding for FinTech startups worldwide fell from a record $141 billion in 2021 to $39
00:21 billion in 2023, according to CB Insights.
00:25 Yet the competition was still strong for this year's list.
00:29 Groups evaluated hundreds of FinTech companies looking at everything from product novelty
00:34 to consumer and revenue growth.
00:36 To be considered, startups need to have their headquarters or a substantial operation in
00:40 the United States and can't be a part of a public company.
00:44 Here are five notable FinTech companies from the 2024 FinTech 50.
00:50 Data Snipper.
00:51 AI is helping transform work for America's largest auditing firms thanks to a first-timer
00:56 on the list, Netherlands-based startup Data Snipper.
01:00 The company's technology snips data on receipts or bank statements to match them with records
01:04 of expenses, saving auditors long nights of manual labor.
01:08 The big four accounting giants are all among Data Snipper's 1,400 customers, and Data
01:13 Snipper raised $100 million at a $1 billion valuation in January to fund global expansion.
01:22 Candex.
01:23 Acting as a sort of master vendor, Candex moves invoices and payments through its system,
01:28 eliminating the need for clients such as Dell, Danone, and L'Oreal to onboard each supplier
01:34 individually.
01:36 The company charges a 3% fee on each transaction in the process.
01:40 In the past year, Candex has expanded into eight new countries, including Japan, Taiwan,
01:45 and South Korea.
01:46 Today, vendors in 45 countries can be paid within minutes.
01:51 First-timer to the list, Kudos Technologies, headed by Teek Anezoto, offers a browser-based
01:56 smart assistant that helps shoppers identify the best rewards card to use for online purchases.
02:02 The Nigerian-born Anezoto came to the U.S. in 2009 to study computer science at Columbia
02:07 University and previously worked at a firm, Microsoft and Google, before launching Kudos
02:12 in 2022.
02:14 In 2023, Kudos grew to 150,000 registered users, up from 5,000 users at the end of 2022.
02:23 Kudos' net worth is currently $45 million.
02:27 Found
02:28 Found, formerly known as Indy Technologies, launched in 2020 as a banking platform geared
02:33 toward self-employed workers, owner-operators, and small business owners.
02:39 CEO and co-founder Lauren Myrick started her work life as an accountant and spent eight
02:44 years at Square.
02:45 The company is designed with Etsy sellers, gig workers, and independent business consultants
02:50 in mind and counted 122,000 active users by the end of 2023.
02:56 Pulley
02:57 Pulley helps startups issue and keep track of who owns equity in their companies.
03:02 The company was quick to capitalize when larger competitor Carta landed in hot water early
03:07 this year for sharing some of its clients' sensitive information with investors.
03:12 Pulley promised to cover the remaining cost of defectors' contracts if they switched
03:16 by the end of the month and added hundreds of customers in January.
03:20 Its robust fundraising model tells founders exactly how much their stakes will be diluted
03:25 in complex early-stage rounds, and an offer letter tool automatically updates the cap
03:31 table when a new employee accepts.
03:34 Last year, Pulley began tracking token distribution for Web3 and blockchain firms.
03:39 Thanks for watching.
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03:41 Also, check out the latest videos on this channel.
03:42 See you next time.
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