Snapdocs honored for achievements as the mortgage industry’s leading digital closing platform.
New York; September 1, 2020 — CB Insights today named Snapdocs to the third annual Fintech 250, a prestigious list of emerging private companies working on groundbreaking financial technology.
“We’re proud to, once again, recognize the 250 best private fintech companies globally. This year’s Fintech 250 represents 25 countries and spans 19 categories — reimagining everything from retail banking and crypto, to insurance and asset management,” said CB Insights CEO Anand Sanwal. “The previous Fintech 250 class raised more than $22 billion in investor financing and saw more than 20 exits after being recognized, and we expect this year’s class will have similar success as they continue to transform how people and businesses spend, save, borrow, and invest their money.”
“We’re honored to be recognized alongside such an impressive collection of companies,” said Aaron King, CEO and founder of Snapdocs. “We provide remarkable efficiencies for the companies that make homeownership possible and a beautiful experience for the borrowers celebrating this milestone achievement in life. Without a true partnership from our customers, recognition like this wouldn’t be possible. I’d like to thank each of our customers for innovating with us; they’re the ones who truly made this list.”
Through an evidence-based approach, the CB Insights Intelligence Unit selected the Fintech 250 from a pool of 16,000 companies, including applicants and nominees, based on several factors. These factors include patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.
Powering millions of mortgage closings a year, Snapdocs empowers mortgage lenders and their settlement partners to modernize, streamline and improve the mortgage closing process for every participant. By coordinating each party on a single platform, leveraging AI to automate manual tasks, and delivering a modern digital borrower experience, mortgage lenders are finally able to close more loans, at lower costs, while delivering the referral-worthy experience borrowers expect.
2020 Fintech 250 Highlights:
- Unicorns: 32 of the 250 companies are valued at or above $1B as of their latest funding round
- Funding trends: YTD, these 250 private companies have raised $10.3B in equity funding across 120 deals (as of 8/26/20)
- Mega-rounds: Since 2019, there have been 87 mega-round ($100M+) equity investments to this year’s Fintech 250, with 35 of them in 2020 YTD (as of 8/25/20)
- Global representation: 46% of the 2020 Fintech 250 are based outside the US. After the US, the UK is home to the most Fintech 250 companies (38), followed by India (20)
About CB Insights
At CB Insights, we believe the most complex strategic business questions are best answered with facts. We are a machine intelligence company that synthesizes, analyzes and visualizes millions of documents to give our clients fast, fact-based insights. Serving the majority of the Fortune 100, we give companies the power to make better decisions, take control of their own future, and capitalize on change.
About Snapdocs
Founded in 2013, Snapdocs is the mortgage industry’s leading digital closing platform. With its patented AI technology and connected platform, Snapdocs is on a mission to perfect mortgage closings for all. Powering millions of closings a year, Snapdocs’ team of over 250 people are leading the charge to modernize, streamline, and improve the mortgage process for lenders, borrowers, and settlement. Snapdocs is the only solution with a proven track record of creating a single, scalable process for every closing. Every day, over 90,000 mortgage professionals rely on Snapdocs to automate manual work and digitize paper processes that plague the industry. Snapdocs is a rapidly growing San Francisco based real estate technology company backed by Silicon Valley venture capital funds, like Sequoia, F-Prime Capital, Y Combinator, Founders Fund, and SV Angel. To learn more, please visit snapdocs.com.
