NASHVILLE, Tenn., Oct. 6, 2021 /PRNewswire/ -- CB Insights today named Alto Solutions, Inc. (Alto) to the fourth annual Fintech 250, a prestigious list of emerging private companies working on groundbreaking financial technology. This year's list was unveiled on stage at CB Insights' Future of Fintech conference in New York City.
"This is the fourth class of the Fintech 250, and it's also the most international, representing 26 countries. These 250 fintech startups are attacking an incredibly diverse array of financial services opportunities across 19 sectors, including digital banking, insurance, payroll, retail investing, and more," said CB Insights CEO Anand Sanwal. "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 $25B in additional financing and forged more than 380 new partnerships after being recognized. The Fintech 250 has a history of spotlighting the very best fintech companies, and this year is no different. We're excited to see how these fintech startups disrupt and transform financial services in the years ahead."
"Alto's mission is to provide all individuals the tools and resources they need to invest in alternative assets and secure the financial future they want," said Eric Satz, founder and CEO of Alto. "In short, we want to revolutionize the alternative investing industry to open the gates to real wealth creation for all. We have seen incredible platform growth over the past year, and receiving the honor of being named to the 2021 CB Insights Fintech 250 further validates the important work that we're doing each day to level the playing field for all investors."
Through an evidence-based approach, the CB Insights Intelligence Unit selected the Fintech 250 from a pool of over 17,000 companies, including applicants and nominees. They were chosen based on several factors, including data submitted by the companies; company business models and momentum in the market; and Mosaic scores, which is CB Insights' proprietary algorithm that measures the overall health and growth potential of private companies.
Alto is the next-generation self-directed IRA platform that makes it easy to invest in alternative assets using retirement funds. The first of its kind, Alto's platform streamlines the process for investors, investment funding portals, and investment sponsors alike. Offering both Alto IRA and Alto CryptoIRA®, investors have a variety of alternative assets to choose from, including real estate, startup companies, and cryptocurrency. Alto has experienced significant company growth within the past year, including the recent successful close of a $17 million Series A funding round led by Unusual Ventures.
Fintech 250 2021: Investment Highlights
Unicorns: 118 of the 250 companies (47%) are valued at or above $1B as of their latest funding round.
Funding trends: In 2021 year-to-date (YTD), these 250 private companies have raised $40.3B in equity funding across 275 deals (as of Sept. 14, 2021).
Mega-rounds: Since 2020, there have been 178 mega-round ($100M+) equity investments to this year's Fintech 250, with 138 of them in 2021 YTD.
Global representation: 36% of the 2021 Fintech 250 are based outside the U.S. After the U.S., the UK is home to the most Fintech 250 companies (25), followed by India (12). This year's winners are based in 26 countries, including France, Brazil, Germany, Indonesia, and Nigeria.
Top VC investor: Ribbit Capital is the most active investor in this year's Fintech 250 companies, having invested in 62 deals since 2016. Since 2019, Ribbit has participated in 41 deals with this cohort of companies, including to Nubank, Uala, Brex, Vouch, Razorpay, and BharatPe. Tiger Global Management and Accel were close behind with 57 and 55 deals, respectively.
About CB Insights
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Alto is a Nashville-based financial technology company that launched its next-generation self-directed IRA platform in 2018 to make it easy for individuals to access and invest in alternative assets using their retirement funds. The first of its kind, Alto's platform streamlines the process for investors, investment funding portals, and investment sponsors alike. Alto's current investment partners include DiversyFund, Fundr, Masterworks, Republic, and Vint, as well as financial advisors, fund sponsors, and other direct issuers. Additionally, Alto CryptoIRA® is integrated with Coinbase. Alto is not a registered broker-dealer or investment advisor.