Business Insider Features Ocrolus in List of 38 Breakout B2B Fintech Stars


As featured in Business Insider’s article, Investors say these 38 fintechs are the next generation of breakout B2B stars, following in the footsteps of Stripe and Plaid.” (subscription required.)

 

Ocrolus is honored to be featured in Business Insider’s list of 38 breakout #fintech stars. Congrats to our friends at Codat, Nova Credit, SentiLink and Unqork, and to all the other companies who made the list. We’re excited to help build the next generation of financial services! Here’s an excerpt from their story:

 

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Business Insider surveyed 27 investors on the hottest fintechs that cater to businesses.

 

When it comes to early-stage investing, any investor will tell you that there’s more risk. That said, there’s also more reward for backers willing to bet on a young company.

 

And while direct-to-consumer startups like Robinhood and Chime often draw much of the attention in the fintech ecosystem, startups that deal directly with businesses have enjoyed some significant success recently.

 

Look no further than Plaid, which is in the process of being acquired by Visa for $5.3 billion, or Stripe, whose latest funding round put it just shy of a $36 billion valuation.

 

  • We asked some of the top fintech investors to recommend up-and-coming fintechs that cater directly to businesses.
  • While responses were wide-ranging, a central theme was automation, with a focus on fintechs that help businesses streamline processes like data management and payments.

Investors’ picks varied, but a major theme was automation — fintechs that help other companies streamline things like data management, expense tracking, and payments.

 

Here are the 38 up-and-coming B2B fintechs to watch.

 

Ocrolus

 

Cited by: Oak HC/FT (investor)

 

Total raised: $33 million

 

What it does: This New York-based startup uses artificial intelligence to automate the analysis of documents such as bank statements, IDs, tax forms, and invoices. Operating at more than 99% accuracy, Ocrolus can speed back-office processes that were previously highly manual.

 

Why it’s hot in 2020: “The company is also incredibly nimble and after the CARES act was announced, quickly created a tailored product to help banks process the applications faster and get these key funds in the hands of small business,” Oak HC/FT’s Kemp said.

 

“They have ubiquitous market share with online lenders, providing mission critical analysis on top of their data and are moving quickly into other verticals,” she added.

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