NEW YORK, Oct. 9, 2023 /PRNewswire/ -- CB Insights today included TerraPay in its sixth annual Fintech 100 (formerly Fintech 250) ranking, featuring the 100 most promising private fintech companies of 2023.
"Representing 24 countries around the world, this year's Fintech 100 is shaping the future of real-time payments, spend management automation, integrated finance and much more," said Chris Bendtsen, chief analyst. of Fintech from CB Insights. "Together, they are not only increasing the pace of innovation, but launching new products and features to revolutionize the industry as a whole. I look forward to seeing the next achievements of this cohort."
"We are honored to be recognized by CB Insights as part of this year's Fintech 100 list. Over the past few years, we have been steadily building our cross-border payments network and this pace of growth has accelerated significantly in 2023. We have forged "some key partnerships that will help us drive our vision of building a connected and empowered payments world. As we expand, we aim to shape a more inclusive and accessible future for cross-border payments," said Ambar Sur, Founder and CEO of TerraPay.
Using the CB Insights platform, the research team selected these 100 winners from a pool of more than 19,000 private companies, including applicants and nominees. The selection was based on factors such as financing, investor profile, business relationships, R&D activity, public opinion analysis, competitive landscape, Mosaic scores and Yardstiq transcripts, as well as criteria such as technological novelty and market potential. The research team also reviewed thousands of analyst reports submitted by the applicants.
Today, TerraPay has established itself as a global partner for leading banks, money transfer operators, mobile wallet operators and financial institutions to facilitate borderless digital transactions. Recently, TerraPay successfully closed its Series B equity financing round, raising over $100 million in equity and debt financing. The financing round was led by IFC and supported by Prime Ventures, Partech Africa, Visa and a consortium of other investors. This financing boosts TerraPay's global expansion plans, especially in the LATAM and Middle East and North Africa regions, with the aim of expanding its current payments network to 150 countries by 2024. Having obtained two new regulatory approvals this year , TerraPay is now the only regulated and authorized payment provider in 29 countries around the world. The company's main markets include the GCC; North, South and Central Africa; Europe and Southeast Asia; Central, North and South America.
Data on 2023 Fintech 100:
About CB Insights
CB Insights creates software that enables the world's best companies to discover, understand and make technology decisions with confidence. By combining data, expert insights, and work management tools, customers manage their technology decision-making process from start to finish in CB Insights. For more information, visit www.cbinsights.com.
Contact:
chris.orlando@cbinsights.com
About TerraPay
TerraPay simplifies the movement of money everywhere: providing a single connection to the largest cross-border payments network regulated in 29 global markets and enabling payments to 120+ receiving countries, 210+ issuing countries, 7.5+ billion bank accounts and more than 2.1 billion mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent and fully compliant. TerraPay pushes the boundaries of global businesses, from banks, fintechs and money transfer operators to travel companies, creative economy platforms and e-commerce marketplaces, while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is headquartered in London, with global offices in Dubai, Miami, Bogota, Dakar, Johannesburg, Nairobi, Milan, Singapore and is expanding rapidly, having received funding from leading investors including the IFC (the World Bank). , Prime Ventures, Partech Africa and Visa.
Contact:
Juveria Samrin, juveria.n@terrapay.com
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