As FinTech South 2018 is underway at Mercedes-Benz stadium Tuesday, we at Atlanta Inno decided to take a look at how much "transaction alley" has grown.
According to a recent report from the Technology Association of Georgia and Georgia Tech, there are more than 38,000 fintech specialists in the state alone. The top 10 Georgia-based fintech companies generate around $72 billion in annual revenue and nearly two-thirds of the total volume of purchase transactions in the country, close to 57.7 billion, are processed by Georgia-based companies.
At least 120 fintech firms are headquartered, or have significant presence, in the state, according to the report; six of the 10 largest U.S. payment processing firms are Georgia-based.
BankInnovation.net listed Atlanta among the top five emerging fintech hubs in the country, behind New York City, Boston and Silicon Valley. Startups like BitPay, Ingo Money and First Performance Global have caught headlines for their disruption in the fintech scene.
Curious to know where the funding money for fintech in Atlanta goes, we used Crunchbase to find 1 fintech firms in Atlanta that have raised more than $1 million during their lifetime. Check out the list below.
- Kabbage, one of Atlanta's few unicorns, has raised a total of $1.7 billion from 17 funding rounds. The company automates loans online to small businesses and consumers.
- Founded in 2007, Bluefin Payment Systems specializes in point-to-point encryption payments for retailers, enterprises and small- to medium-sized businesses. The company has raised a total of $6 million.
- Greenlight, a fintech company providing smart debit cards for kids that parents can monitor from a mobile app, has raised a total of $23.5 million since its founding in 2014.
- RoadSync, which provides a digital payment platform for the trucking industry, raised $2.5 million last month in a venture round.
- Trust Stamp uses facial biometric AI to verify identities for digital transactions. Since 2015, the company has raised a total of $4.5 million.
- Patientco offers a cloud-based platform to help providers maximize patient payments and has raised $3.8 million.
- Combining two big Atlanta loves---fintech and real estate---Wealth Migrate is an online real estate marketplace that allows customers to crowdfund property suggested by the company. The firm has raised a total of $5.7 million since 2009.
- PowerPlan, a software company providing accounting tax, budgeting and analytics solutions for asset-intensive businesses, raised a total of $110.1 million before being acquired by Thoma Bravo.
- Vanco Payment Solutions provides payment transaction services to small- and medium-sized merchants. The company has raised a total of $80 million since its founding in 2012.
- Founded in 2011, TransacXion Technologies has raised a total of $3.5 million in funding. The fintech company uses a B2B payment platform allowing large companies to extend bill payments to 6 months at no cost using trade credit insurance.
- 40billion.com, a social network for crowdfunding, has raised $1.1 million since its founding in 2008.
