MX Named to the 2022 CB Insights' Fintech 250

LEHI, Utah — (October 5, 2022) — CB Insights named MX to its fifth annual Fintech 250 rankings, showcasing the 250 most promising private fintech companies of 2022.

"This year's Fintech 250 winners are shaping the future of financial services, from payments and banking to investing and insurance," said Brian Lee, SVP of CB Insights' Intelligence Unit. "Representing more than 30 countries, these companies are creating safer and more efficient payment methods, and transforming how traditional banking, insurance and investing products are delivered. Together, they not only make financial services more convenient for users, but also make them available to more people, especially traditionally underserved populations around the globe."

Utilizing the CB Insights platform, the research team selected the 250 winners from a pool of over 12,500 private companies, including applicants and nominees. They were chosen based on factors including R&D activity, proprietary Mosaic scores, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength, and tech novelty. The research team also reviewed over 2,000 of Analyst Briefings submitted by applicants.

Quick facts on the 2022 Fintech 250:

• Equity funding and deals: The Fintech 250 cohort has raised over $115 billion in equity funding across over 1,100 deals since the start of 2017 (as of 9/20/2022). In 2021 alone, winners raised over $51 billion across 337 equity deals.
• Unicorns: There are 159 companies with $1B+ valuations on the list.
• Global Reach: Globalization is a key theme for this year’s Fintech 250. The winners represent 33 different countries across the globe - seven more than last year. Just over half (53%) of the selected companies are headquartered in the US, which is the fewest in the Fintech 250 since 2017. The UK came in second with 31 winners (12%), followed by India with 14 (6%), Brazil with nine (4%), and Germany with seven (3%)

About CB Insights

CB Insights builds software that enables the world's best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.

About MX

MX Technologies, Inc., a leader in Open Finance, helps organizations everywhere connect to the world's financial data and turn raw, unstructured data into their most valuable asset to deliver intelligent and personalized money experiences. MX connects more than 13,000 financial institutions and fintechs providing the industry's most reliable and secure data connectivity network. Additionally, MX powers 85% of digital banking providers, as well as thousands of banks, credit unions, and fintechs, with a combined reach of over 200 million consumers. To learn more follow us on Twitter and LinkedIn @MX or visit www.mx.com.