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Lendio Named to the 2020 CB Insights Fintech 250 List of Fastest-Growing Fintech Startups

Sep 01, 2020 • 3 min read
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      Lendio is recognized for its efforts in combining data analytics with human touch to facilitate small business loans more effectively

      Lehi, Utah, September 1, 2020CB Insights today named Lendio, the nation’s largest marketplace for small business loans, to the third annual Fintech 250, a prestigious list of emerging private companies working on groundbreaking financial technology.

      “We’re proud to, once again, recognize the 250 best private fintech companies globally. This year’s Fintech 250 represents 25 countries and spans 19 categoriesreimagining everything from retail banking and crypto, to insurance and asset management,” said CB Insights CEO Anand Sanwal. “The previous Fintech 250 class raised more than $22 billion in investor financing and saw more than 20 exits after being recognized, and we expect this year’s class will have similar success as they continue to transform how people and businesses spend, save, borrow and invest their money.”

      “It’s truly an honor to be recognized by CB Insights alongside so many incredible fintech companies, particularly in a year when fintech is playing an integral role in softening the economic blow of the COVID-19 pandemic,” said Brock Blake, CEO and co-founder of Lendio. “Lendio’s high-tech, consultative approach to small business financing has enabled our team to assist more than 100,000 small business owners during their most vulnerable time. The last five months have proved to be among the most challenging yet rewarding times for all of us at Lendio.”

      Through an evidence-based approach, the CB Insights Intelligence Unit selected the Fintech 250 from a pool of 16,000 companies, including applicants and nominees, based on several factors. These factors include patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength and tech novelty. The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.

      Lendio prides itself on being a small business advocate, connecting business owners with the capital they need to operate and grow. With loan options from hundreds of the nation’s leading online lenders, banks and industry specialty lenders, Lendio is a one-stop-shop for thousands of business owners looking for funds. To-date, Lendio has facilitated over $10B in financing through more than 200,000 small business loans, including 100,000 Paycheck Protection Program loans—funds allocated for small business relief as part of the CARES Act.

      2020 Fintech 250 Highlights:

      • Unicorns: 32 of the 250 companies are valued at or above $1B as of their latest funding round.
      • Funding trends: YTD, these 250 private companies have raised $10.3B in equity funding across 120 deals (as of 8/26/20). Lendio secured a $55M series E round in February 2020.
      • Mega-rounds: Since 2019, there have been 87 mega-round ($100M+) equity investments to this year’s Fintech 250, with 35 of them in 2020 YTD (as of 8/25/20).
      • Global representation: 46% of the 2020 Fintech 250 are based outside the US. After the US, the UK is home to the most Fintech 250 companies (38), followed by India (20).

      To see the full 2020 Fintech 250 list, visit

      About CB Insights
      At CB Insights, we believe the most complex strategic business questions are best answered with facts. We are a machine intelligence company that synthesizes, analyzes and visualizes millions of documents to give our clients fast, fact-based insights. Serving the majority of the Fortune 100, we give companies the power to make better decisions, take control of their own future, and capitalize on change.

      Keith Swiader, PR Manager
      [email protected]

      About the author
      Spencer Anopol

      Spencer has spent the last ten years in the throes of all things marketing and communications. In the past, he has written for companies and clients spanning restaurants to SAAS companies, and entertainment guilds to yoga studios. Spencer has a B.S. in Communications from the University of Utah. When not writing or working, he can be found in the mountains on a hike, in a movie theater with a tub of popcorn, or on stage at a local theater.

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