NEW YORK — October 5, 2023 — CB Insights today named Coterie Insurance, the partnership-focused insurtech MGA, to its sixth-annual Fintech 100 ranking (previously the Fintech 250) – showcasing the 100 most promising private fintech companies of 2023.
“It’s an honor to be recognized in the broader fintech space by being included in this distinguished list of innovative companies,” said David McFarland, CEO of Coterie Insurance. “With half of all small businesses without insurance, we’re grateful to be playing a role in delivering the tech and insurance platform insurance agents and brokers need to help insure our country’s hardworking small business owners.”
Coterie Insurance launched in 2018 to make the small commercial insurance process easier and faster for everyone involved. Since then, Coterie has worked with partners and insurance agents to deliver insurance to small business owners when they need it. With automated underwriting, Coterie delivers near-instant quotes to help agents and brokers deliver the coverage busy small business owners need.
Utilizing the CB Insights platform, the research team selected these 100 winners from a pool of over 19,000 private companies, including applicants and nominees. They were chosen based on factors – including equity funding, investor profiles, business relationships, R&D activity, news sentiment analysis, competitive landscape, proprietary Mosaic scores, and Yardstiq transcripts – and criteria such as tech novelty and market potential. The research team also reviewed thousands of Analyst Briefings submitted by applicants.
“Representing 24 different countries across the globe, this year’s Fintech 100 is shaping the future of real-time payments, spend management automation, embedded finance, and more,” said Chris Bendtsen, Lead Fintech Analyst, at CB Insights. Together, they are not only increasing the pace of innovation but launching new products and features to revolutionize the industry as a whole. I cannot wait to see what this cohort accomplishes next.”
Quick facts on the 2023 Fintech 100:
- Equity funding and deals: The Fintech 100 includes a mix of companies at different stages of maturity, product development, and funding. The cohort has raised nearly $22B in equity funding across 381 deals since 2019.
- Unicorns: There are 31 companies with $1B+ valuations on the list.
- Global Reach: This year’s winners represent 24 different countries across the globe. Forty-three percent of the selected companies are headquartered in the US. The UK comes in second with 12 winners, followed by Singapore with 7. Additionally, some emerging markets stand out with multiple winners this year. For example, India has 3 winners, while Indonesia and Egypt each have 2.
