TeamApt recognised for achievements in payments processing
London, October 4, 2022 — CB Insights today named TeamApt to its fifth-annual Fintech 250 ranking, showcasing the 250 most promising private fintech companies of 2022.
“This year’s Fintech 250 winners are shaping the future of financial services, from payments and banking to investing and insurance,” said Brian Lee, SVP of CB Insights’ Intelligence Unit. “Representing more than 30 countries, these companies are creating safer and more efficient payment methods, and transforming how traditional banking, insurance and investing products are delivered. Together, they not only make financial services more convenient for users, but also make them available to more people, especially traditionally underserved populations around the globe.”
“TeamApt is on a mission to power the dreams of businesses worldwide by tackling the pain points that limit them,” said Tosin Eniorolunda, CEO and co-founder of TeamApt. “Our brilliant, impact-driven team is dedicated to developing solutions that provide businesses with everything they need at every stage of their development. To be recognised in this year’s CB Insights 250 list is an honour and a testament to the value that we’re delivering for our customers.”
Utilising the CB Insights platform, the research team selected these 250 winners from a pool of over 12,500 private companies, including applicants and nominees. They were chosen based on factors including R&D activity, proprietary Mosaic scores, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength, and tech novelty. The research team also reviewed over 2,000 of Analyst Briefings submitted by applicants.
The success builds on the momentum of TeamApt’s investment from QED in August, making it the first African startup to receive backing from the venture capital firm. Since its inception in 2015, TeamApt has grown 300% each year and its business and banking platform serves 400,000 businesses. Already processing 6 billion transactions per day totalling $9 billion per month, the business has its sights set on global expansion, with more markets to come towards the end of the year.
Quick facts on the 2022 Fintech 250:
- Equity funding and deals: The Fintech 250 cohort has raised over $115B in equity funding across over 1,100 deals since the start of 2017 (as of 9/20/2022). In 2021 alone, winners raised over $51B across 337 equity deals.
- Unicorns: There are 159 companies with $1B+ valuations on the list.
- Global Reach: Globalization is a key theme for this year’s Fintech 250. The winners represent 33 different countries across the globe – 7 more than last year. Just over half (53%) of the selected companies are headquartered in the US, which is the fewest we’ve seen in the Fintech 250 since 2017. The UK came in second with 31 winners (12%), followed by India with 14 (6%), Brazil with 9 (4%), and Germany with 7 (3%).
About CB Insights
CB Insights builds software that enables the world’s best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.
TeamApt is a global business payments and banking platform and recently became QED Investors’ first investment into Africa. TeamApt is the partner of choice for over 400,000 businesses of all sizes and is digitising the local economy to provide Nigeria’s 41 million SMBs with equal access to the tools they need to grow and scale.
For more information visit www.teamapt.com