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CB Insights honors Signifyd as top fintech company

Read the State of Fraud Report 2021

Read the State of Fraud Report 2021

The cover of the state of fraud 2021 report

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

The fourth annual Fintech 250 is a prestigious list of private companies working on groundbreaking financial technology. Signifyd is regularly listed by CB Insights as among the top Fintech companies. 

The award comes in a year that Signifyd raised a $205 million funding round and achieved unicorn status. 

“After being named to the CB Insights Fintech 250 last year, the 2020 class saw 17 companies go public and 25 get acquired. They also went on to raise over $25 billion in additional financing and forged more than 380 new partnerships after being recognized,” said CB Insights CEO Anand Sanwal, who added that The Fintech 250 has a history of spotlighting the very best fintech companies and that 2021 is no different. “We’re excited to see how these fintech startups disrupt and transform financial services in the years ahead,” he said. 

It’s all about collaborative commerce

“We appreciate CB Insights’ continued recognition of our success as a market leader in building a commerce network to help retailers grow securely while increasing their sales,” said Signifyd Senior Vice President, Brand Experience Stefan Nandzik. “It’s especially gratifying because we’ve been helping our customers grow amid the challenges of COVID-19 and we’ve been doing it in the spirit of collaboration, by harnessing the network’s vast identity and intent data to secure orders and ensure that legitimate orders are fulfilled quickly and correctly.” 

What you need to know
  • For the third time, Signifyd is listed on the FinTech 250 by CB Insights. CB Insights selected Signifyd based on its business model, momentum in the market, overall health and growth potential.
  • Signifyd was selected from among 17,000 companies that applied or were nominated for the honor.
  • Of the 250 companies on the list, nearly half, including Signifyd, have achieved unicorn status — or a valuation of at least $1 billion.

The CB Insights Intelligence Unit selected Signifyd as one of the Fintech 250 from a pool of more than 17,000 companies, including applicants and nominees. They were chosen based on data submitted by the companies, company business models and momentum in the market, and CB Insights’ proprietary algorithm that measures the overall health and growth potential of private companies.

The Class of 2021 of the Fintech 250 was an impressive one. A full 118 of the 250 companies (47%) were so-called unicorns, valued at or above $1B as of their latest funding round. In year-to-date 2021, the 250 private companies raised $40.3B in equity funding across 275 deals. And since 2020, there have been 178 mega-round ($100M+) equity investments to this year’s Fintech 250, with 138 of them in 2021.

Signifyd itself has experienced significant momentum in 2021. In April, 2021, the company raised $205 million Series E growth equity financing. This investment values the company at $1.34 billion and added significant resources to expanding Signifyd’s Commerce Protection Platform and identity graph globally across digital shopping and payments. 

And although the pandemic raised challenges, it also fueled a new era of ecommerce for Signifyd’s customers. As a measure of the depth and breadth of the consumer shift to digital commerce during COVID-19, each of Signifyd’s top 500 customers more than doubled its ecommerce revenue in 2020. The combination of their agility and Signifyd’s AI-driven innovation allowed them to power through pandemic disruptions and fulfill consumer orders at record-breaking volume and speed.

The recognition from CB Insights is the latest signal that Signifyd’s approach to commerce protection is gaining widespread appreciation and adoption. Signifyd is the market’s leading 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. The company’s solutions protect against all manner of chargebacks and provide merchants with a customizable approach to managing policy abuse, such as abusive returns. 

Commerce protection inspires fearless commerce by providing instantaneous ship-or-don’t-ship decisions, backed by a financial guarantee. The model dramatically reduces 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. It also allows merchants to provide generous return policies without the fear of being taken advantage of by unscrupulous customers or criminal fraud operations.

In 2021, Signifyd also: 

  • Saw broad adoption by enterprise retailers such as Samsung, Lenovo, multiple divisions across Walmart, Lacoste, Rite Aid, Quiksilver, Build with Ferguson, Mango, and many others.
  • Was named among the largest providers of Enterprise Fraud Management for Ecommerce by leading analyst firm, Forrester.
  • Exceeded 98% coverage of ecommerce shoppers in major markets, even for the largest retailers, resulting in conversion rate increases of up to 20% for Signifyd clients.
  • Widened its global footprint, tripling the team in Europe and launching in LATAM.
  • Doubled revenue year over year.
  • Achieved wide recognition as the market leader in commerce protection, including by analyst firms such as the Aite Group and Frost & Sullivan.

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, rather than worrying about losses due to fraud. 


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Signifyd

Signifyd

Signifyd provides an end-to-end Commerce Protection Platform that leverages its Commerce Network to maximize conversion, automate customer experience and eliminate fraud and customer abuse for retailers.