New unicorn levels have picked up in October with nine reaching status in the month, the highest levels since the same period last year. FinTech unicorns accounted for a third of these across three different sectors: RegTech, Lending Technology and Infrastructure & Enterprise Software. The FinTech companies reaching unicron status include:
Prove, an identity authentication platform headquartered in New York, secured $40 million in funding, with leading investments from strategic backers Capital One Ventures and MassMutual Ventures. This funding round placed the 15-year-old company’s valuation at $1 billion.
Lendbuzz, a startup specializing in car financing and based in Boston, raised a total of $45 million in equity and $300 million in debt, with primary support coming from insurance holding company Group1001. This eight-year-old company’s valuation now stands at $1.1 billion.
Sydney, Australia, has birthed its latest unicorn company in the form of Employment Hero, a provider of HR and payroll services. Joining a select group of ten other current unicorns from the continent, this cloud-based firm secured a substantial $267 million in Series F funding, with TCV leading the way. The company, which has been in operation for nine years, is now valued at $1.3 billion.