FinTech Magazine - June 2023 | Page 144

TOP 10 10

Brex
US $ 12.3bn
Founded in 2017 by Brazilians Henrique Dubugras and Pedro Francheschi , Silicon Valley-based Brex is a financial services provider offering cash management accounts and business credit cards to technology companies . Brex has helped startups access more of their own funds without the need for credit histories , offering instant approvals based on available cash balances . In 2021 , the fintech received two rounds of Series D funding – including $ 425mn in April and $ 300mn in October – helping propel it to decacorn status with a market valuation of over $ 10bn .

09

Devoted Health
US $ 12.6bn
US-based online health insurance platform Devoted Health offers medical plans and access to local healthcare providers for Medicare-eligible beneficiaries . An all-in-one medical service focused on the elderly , Devoted Health experienced a major growth spurt in Q3 2021 , securing $ 1.15bn in Series D funding from investors such as General Catalyst , NextView Ventures and Softbank Capital . This investment allowed the fintech to expand into eight new states in October 2022 – including Alabama , Colorado , Oregon , and Hawaii .
144 June 2023