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Signifyd named one of CB Insights’ Best Fintech Companies

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CB Insights today named Signifyd to its Fintech 250 List, acknowledging for the second year in a row the company’s rapid growth and promising future as a firm that helps ecommerce enterprises provide a friction-free buying experience without the fear of fraud.

In fact, CB Insights named Signifyd the leader in the analytics research company’s regulatory and compliance category, citing Signifyd’s $100 million funding round in May.

“After we named the inaugural Fintech 250 in 2017, they went on to raise $23 billion, including 30 rounds of over $100 million,” said CB Insights CEO Anand Sanwal. “Twenty-two of the Fintech 250 have already exited with half via IPO. This year, we’ve added 113 new companies to the Fintech 250 using the CB Insights Mosaic algorithm, and the group is broad, covering everything from insurance tech to consumer banking to capital markets tech. We look forward to the success of this year’s group.” 

The 2018 class is impressive, with 30 of the companies reaching unicorn status, meaning they have a market valuation of at least $1 billion. All the Fintech 250 are private companies and CB Insights noted that the companies it selected had raised a total of $31.8 billion in 373 deals.

“We appreciate CB Insights’ recognition of our success as we’ve grown into the market leader in the guaranteed fraud protection space,” said Signifyd Vice President of Marketing Stefan Nandzik. “But more importantly, the recognition is an indication of where we’re going in our efforts to help our customers’ businesses grow by providing an excellent customer experience. We’re just getting started.”

CB Insights’ Fintech 250 includes the top performing companies in their fields

CB Insights said it selected its Fintech 250 from among 4,000 nominees based on business models, momentum in the market and a proprietary Mosaic Score, a machine-learning-based ranking which the analytics firm developed with the National Science Foundation. The scores reflect a company’s overall health and growth potential based on the company’s performance compared to peers, the health of the industry it works in and the financial strength of the company itself.

CB Insights names Signifyd to Fintech 250

CB Insights names Signifyd to Fintech 250

CB Insights named Signifyd to its Fintech 250, a list of the fastest growing and most promising companies transforming the financial services industry. CB Insights based its conclusions on the company’s business model, the overall health of its industry and CB Insights’ machine-learning-produced Mosaic Score, which measures a company’s growth and future potential.

The recognition from CB Insights is the latest signal that Signifyd’s approach to fraud protection is gaining widespread appreciation and adoption. Signifyd is the world’s largest provider of guaranteed fraud protection, a model that combines big data, machine learning and a liability shift to remove the risk of fraud from ecommerce businesses’ list of concerns.

Guaranteed fraud protection allows ecommerce retailers to provide a better customer experience by providing instantaneous ship-or-don’t-ship decisions and by dramatically reducing false positives, or legitimate orders that are mistakenly declined for fear of fraud.

Delayed shipping decisions and incorrectly canceled orders contribute to an unsatisfactory customer experience and risk losing customers for good.

Consultancy Frost & Sullivan earlier this month named Signifyd as the industry leader in the innovative form of fraud protection, recognizing the company with its Growth Excellence Leadership Award in the field.

Frost & Sullivan says Signifyd leads the market in fraud protection

“Frost & Sullivan’s research indicates that Signifyd has emerged as the market leader in the guaranteed fraud protection markets and is leading the industry-wide transition to the guaranteed fraud protection models,” the consultancy said after conducting a comprehensive analysis of the guaranteed fraud protection industry.

The award follows the inclusion of guaranteed fraud protection in venture capitalist Mary Meeker’s 2018 Internet Trends report, a closely followed presentation laying out a road map for digital transformation and the future of the web.

And it coincides with the steady adoption of guaranteed fraud protection by major ecommerce platforms, many of them offering Signifyd as the solution, and the continued investment in the model, as evidenced by Signifyd’s $100 million Series D round in May.

The developments are all good signs for the guaranteed fraud protection field. But more than that, the CB Insights recognition and the other recent developments endorsing the model’s effectiveness are good news for ecommerce enterprises and merchants who would prefer to focus on serving the customers that they built their businesses for in the first place.

Images courtesy of CB Insights

Mike Cassidy

Mike Cassidy

Mike is the head of storytelling at Signifyd. A former journalist and a retail geek, he covers ecommerce and the way technology is transforming digital commerce. Contact him at [email protected].