FinTech

Forbes names most innovative fintech companies in housing

Several housing heavy hitters make the Forbes Fintech 50 list

Forbes this week announced the winners of its 5th annual Fintech 50, which it describes as the world’s most innovative financial technology companies, and several heavy hitters in housing made the list.

The companies selected were recognized for their industry-changing innovation. This was measured by how often they released new products and made strategic improvements to their technology.

“Our 2020 Fintech 50 includes one of the most diverse sets of disruptors since the list’s inception, and it’s indicative of the innovations we’re seeing throughout every aspect of the financial landscape,” said Forbes’ Washington Bureau Chief and Personal Finance Editor Janet Novack.

Here are the companies with housing ties that made Forbes’ list (For more on each company, click on their name. Financial details courtesy of Forbes):

Better.com
Better.com’s latest valuation comes in at $610 million. In 2019, the company’s revenue increased to $115 million. According to Forbes, Better.com received $254 million in funding from American Express Ventures, Goldman Sachs, Ally Financial and more.

Cadre
Cadre’s latest valuation comes in at $800 million. The company has financed purchases of $3.1 billion worth of property in 36 deals, including $1 billion in the last year. According to Forbes, Cadre has received $133 million in funding from Andreessen Horowitz, Ford Foundation, Goldman Sachs and more.

Credit Karma
Credit Karma’s latest valuation comes in at $4 billion. The company boasts more than 100 million users in the U.S., Canada, and the U.K. According to Forbes, the company received $869 million in funding from Silver Lake, CapitalG, Tiger Global Management and more.

Divvy Homes
Divvy Homes’ latest valuation comes in at $163 million. The company purchased 900 homes in 2019 and now receives 10,000 applications a month. According to Forbes, Divvy Homes has received $66 million in funding from GIC, Andreessen Horowitz, Caffeinated Capital and more.

Hippo Insurance
Hippo Insurance’s latest valuation comes in at $1 billion. The company has a retention rate over 90% and its premiums increased fivefold in 2019. According to Forbes, the company received $209 million in funding from Bond, Felicis Ventures and Lennar and more.

Lemonade
Lemonade’s latest valuation comes in at $2.1 billion. The company is active in 26 states, and Washington D.C. and Germany. According to Forbes, the company received $480 million in funding from SoftBank, Allianz, Sequoia and Aleph.

Opendoor
Opendoor’s latest valuation comes in at $3.8 billion. The company purchased more than 19,000 homes in 2019. According to Forbes, the company received $1.3 billion in funding from Khosla Ventures, SoftBank, General Atlantic and more.

Plaid
Plaid’s latest valuation comes in at $5.3 billion. In 2019, the company doubled its customers to 2,600, while expanding to Europe. According to Forbes, the company received $310 million in funding from Andreessen Horowitz, Kleiner Perkins, NEA and more.

Roofstock
Roofstock’s latest valuation comes in at $550 million. The company operates in 25 states. According to Forbes, the company received $133 million in funding from Bain Capital Ventures, Lightspeed Venture Partners, SVB Capital and more.

States Title
States Tittle’s total revenue comes in at $185 million. Last year, the company gained a part of Lennar’s title business. According to Forbes, the company received $107 million in funding from Fifth Wall, Foundation Capital and more.

Unison
Unison’s latest valuation comes in at $550 million. The company has invested in $4.4 billion worth of housing. According to Forbes, the company received $40 million in funding from Citi Ventures, F-Prime Capital Partners, The Royal Bank of Canada and more.

In March, HousingWire will announce its 2020 Tech100 award winners, naming 100 of the housing industry’s most influential and innovative tech companies. Make sure to check back in to see who makes the cut, but until then, you can read this list of last year’s winners.

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