Blockchain, payments processing, and a lener
Recent research by Citigroup C -9.36% projects that revenues of financial technology startups will leap 10 times, to more than $100 billion, in the next four years. Here are a handful of companies with major growth potential.
Digital Assets Holdings
Year founded: 2014
Notable Investors: Citigroup, IBM Blythe Masters, chief executive officer of Digital Asset Holdings LLC, gestures as she speaks at the Bank of England Open Forum at the Guildhall in London on Wednesday, Nov. 11, 2015. High-frequency traders can swap stocks in milliseconds, but it still takes a day or more for the money to move in many of Wall Street’s markets. Digital Asset Holding plans to speed that using blockchain—the technology behind Bitcoin. Blythe Masters, a pioneer of credit default swaps at JPMorgan Chase , joined as CEO last year.
Kensho
Year founded: 2013
Notable investors: Goldman Sachs, Xfund Goldman Sachs is one of the high profile investors in fintech start-up Kensho. It’s Siri for Wall Street. The AI software uses big data to analyze new events, answer traders’ questions, and spit out reports predicting where markets are headed. Kensho has the potential to replace the Street’s trove of market strategists, and its ability to crunch data and offer advice should make investment bankers nervous too. Photograph by Elena Graham SoFi, the online lending platform, made a splash earlier this year with a Super Bowl commercial trying to appeal to upwardly mobile millennials. The lender has drawn scrutiny for using an internal hedge fund to fund its loans. But SoFi has a lower default rate than its rivals, and Moody’s recently rated the company’s debt triple A.
Stripe
Year founded: 2011
Notable investors: Andreessen Horowitz, Elon Musk Stripe co-founders Patrick (left) and John Collison (right) Stripe’s platform allows any […]
