"Representing 24 different countries across the globe, this year’s Fintech 100 is shaping the future of real-time payments, spend management automation, embedded finance, and more" said Chris Bendtsen, Lead Fintech Analyst, 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 cannot wait to see what this cohort accomplishes next."
"It’s an honor 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 payment network and this pace of growth has accelerated significantly in 2023. We have forged some key alliances that will help us further our vision of building a connected and empowered world of payments. As we expand, we aim to shape a more inclusive and accessible future for cross-border payments." said Ambar Sur, Founder & CEO, TerraPay
Utilizing the CB Insights platform , the research team selected these 100 winners from a pool of over 19,000 private companies, including applicants and nominees. They were chosen based on factors including - including equity funding, investor profiles, business relationships, R&D activity, news sentiment analysis, competitive landscape, proprietary Mosaic scores , and Yardstiq transcripts - and criteria such as tech novelty and market potential. The research team also reviewed thousands of Analyst Briefings submitted by applicants.
Today, TerraPay has established itself as a global partner to leading banks, money transfer operators, mobile wallet operators, and financial institutions to facilitate digital transactions without borders. Recently, TerraPay successfully closed its Series B equity financing round, raising in excess of $100 million in equity and debt financing. The funding round was led by IFC and supported by Prime Ventures, Partech Africa, Visa, and a consortium of other investors. This funding pushes forward TerraPay’s global expansion plans, especially across the LATAM and MENA regions, aiming to grow their existing pay-out network to 150 countries by 2024. Having acquired two new regulatory approvals this year, TerraPay is now the only payment provider to be regulated and licensed across 29 countries, globally. The company’s key markets include; GCC; North, South, and Central Africa; Europe and SE Asia; Central, North, and South Americas.
Quick facts on the 2023 Fintech 100:
About CB Insights
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Headquartered in the UK, TerraPay believes that the smallest payment deserves a borderless journey as safe as the largest. The group has been building an ever-expanding payments highway that empowers businesses to create transparent customer experiences with an uninterrupted, secure, and real-time global passage for every payment, however small or large. Regulated and approved in across 26 global markets, TerraPay is a leading global partner to banks, mobile wallets, money transfer operators, merchants, and financial institutions, creating a more expansive and inclusive international financial ecosystem. With access to a payments infrastructure that spans the globe, their partners become beacons of the promise of global financial inclusion.