Cryptocurrency startups Veem, Shapeshift, and Pay Stand made their place on the Upstart 100 List of 2018 published by CNBC.
Upstart 100 List is CNBC’s exclusive list of promising startups, featuring a diverse group of companies which are building brands and breaking industry barriers to become tomorrow’s household names. The companies which are in the Upstart 100 List of 2018 represent nearly every sector of the economy from enterprise software, fintech, and finance to insurance, retail, and healthcare. The companies which made the list are from nine different countries. Some interesting facts about this year’s Upstart 100 List are:
- 19 companies are led by women
- All 100 companies are less than five years old
- 28 companies are less than three years old
- Six companies were founded just last year
These companies are selected from more than 500 nominees, each company one of them scored on eight equally weighted quantitative metrics. All of these 100 companies which are on the list have quickly become entrepreneurial success stories.
Nowadays young startups are becoming increasingly popular. According to PitchBook, in the second quarter of 2018, venture capitalists (VCs) poured around $11.5 billion funds into early-stage companies. The average deal size has reached a 10-year high of $18 million. Many companies which received funding from venture capitalists made their place in the Upstart 100 List.
Veem (formerly known as Align Commerce), a global payment platform which uses SWIFT, treasury, and cryptocurrency, also become the part of the list. The company was founded by Aldo Carrascoso and Marwan Forzley in 2014 in San Francisco, United States. Veem is operational in 60 countries and uses various rails for payments.
Another cryptos related startup which made its place in the list is ShapeShift. ShapeShift is a leading instant digital asset exchange which supports dozens of blockchain tokens including Bitcoin, Ethereum, Zcash, Dogecoin, Dash, etc. One of the unique things about ShapeShift is that the exchange does not collect personal data of its customers, and exchanges one cryptocurrency for another without ever collecting customer funds into company accounts.
PayStand and Blockstack are also blockchain related startups which are in CNBC’s Upstart 100 List of 2018. All of these startups are doing well and achieved a huge success in a short period of time, hence it’s worth keeping an eye on them.
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