CB Insights Global Fintech 250: Four Source Code Capital Portfolio Companies Make the List

US-based venture capital research firm CB Insights has released its 2017 Global Fintech 250 list, selecting 250 companies using software technology to transform the financial services industry.

In terms of regional distribution, these 250 companies are spread across 23 countries. China has 28 companies on the list, including: 51 Credit Card, Ant Group, Lakala, CreditEase Wealth Management, Dadao Finance, Dianrong, Fenqile, Futu Securities, JD Finance, Juzhen Finance, Lufax, Nongfenqi, Maidanxia, Ping++, PPDAI, Qianfang Haojin, Qingsongchou, Qufenqi, Rong360, Suishou, Wecash, Weidai, Xiaoyusan, Datebao, Yongqianbao, Yuanbaopu, ZhongAn Insurance, and IceKredit.

Among the 28 Chinese companies, Source Code Capital has investments in 4 that made the list: Qufenqi, Yongqianbao, Suishou, and Nongfenqi.

These companies were selected by CB Insights' research team from nearly 2,000 applicants and nominees, based on several factors including self-reported data and each company's Mosaic score. Mosaic is an algorithm developed by CB Insights specifically to measure the overall development and growth potential of private companies.

Source Code Capital was founded in 2014 and focuses on information technology investments, currently managing $750 million USD and 3 billion RMB. Since its inception, in addition to the 4 listed companies mentioned above, Source Code Capital has also invested in the following fintech companies: Rongshidai (Yinker), Hui Fenqi, Jieqian Kuai, Cijinrong, Ether Capital, Asset360, Geshang Wealth, Lan Touzi, Xiaohu Finance, Ju'aicai, Beimi, Abbotz, RiceQuant, Lean Work, and Lingjin Information.

"The financial industry will experience more change over the next ten years than it did in the previous 100. And this transformation is being driven by a group of excellent disruptive startups. The Global Fintech 250 are the most promising among these disruptive companies. They are bringing emerging technologies and business models into the financial services industry, which will permanently change how we manage our money and how we do business." — CB Insights CEO Anand Sanwal

According to CB Insights, since 2013, these 250 fintech companies have completed 766 funding rounds, raising approximately $32 billion in total. The market distribution map below categorizes the 250 companies by their focus areas (full list at the end of the article). Of course, the business activities of different types of companies are not strictly mutually exclusive.

According to CB Insights' report, the Mosaic algorithm considers the following main factors:

• Momentum — incorporating non-traditional indicators including news media coverage, sentiment, job data/hiring, social media, traffic and usage, partnerships, and more.

• Market — quantitative analysis of the sector and industry in which a company operates, including funding, number of funded companies, exits, and hiring.

• Money — assessment of a company's financial health, including recent funding rounds and total funding raised.

• Investor quality — evaluation of the quality of investment institutions participating in a company's financing, primarily based on exits, returns, and portfolio quality.