visimoney
The Fintech 50 list for 2024 includes six personal finance fintechs, including two newcomers, that address the financial realities faced by ordinary Americans: multiple credit cards and limited spare cash.
- Tikue Anazodo’s Kudos Technologies offers a browser-based smart assistant that helps online shoppers pick the best reward credit card for each purchase. Anazodo has 11 credit cards himself.
- Sunbit provides point-of-sale consumer financing for large unexpected expenses, such as dental bills or car repairs. The company partners with nearly 10,000 dental offices.
- The four veteran companies on the list are Chime, Esusu, Propel, and Tala. Chime is the largest digital bank in America, offering free checking accounts and no overdraft fees. Esusu helps renters build their credit histories by reporting on-time rent payments to credit bureaus. Propel enables low-income families to manage government benefits and earned income, providing a free debit Mastercard for cash benefits. Tala makes small loans to individuals with limited borrowing history using smartphone data to assess risk.
Chime is valued at $25 billion with $2.3 billion in funding, Esusu is valued at $1 billion with $145 million in funding, Kudos Technologies is valued at $45 million with $17 million in funding, Propel is valued at $500 million with $90 million in funding, and Sunbit is valued at $1.1 billion with $256 million in funding. Tala is valued at $800 million with $350 million in funding.
