WireBarley Named to 2022 CB Insights’ Fintech 250 List
SEOUL, South Korea, 7 October 2022 /PRNewswire/ — Cross-border payment solutions provider WireBarley Corp. was named a winner of the fifth annual CB Insights Fintech 250 rankinga prestigious list of the year’s 250 most promising private fintech companies.
WireBarley has been recognized for its achievements in the Mobile Wallets & Remittances section. Among South Korea-based platforms for financial services, WireBarley and Toss, have been selected as this year’s winners.
Established in 2016, WireBarley has expanded its presence among immigrants and students living abroad with its simple and affordable mobile transfer service. WireBarley currently offers over 520 personal overseas transfer corridors with 12 outbound and 45 inbound countries. WireBarley also offers cross-border transfer services for businesses of all sizes with a strong compliance management system and foreign exchange transaction capability.
WireBarley has expanded its overseas transfer-focused service into a cross-border payment service by launching the ‘WireBarley Global Card’ in Korea in partnership with Visa since July 2022. The company has been selected into the Visa Fintech Fast Track program and acquired principal membership with Visa.
“We are honored to be recognized by CB Insights’ Fintech 250 list for the first time,” so John YooCEO of WireBarley Corp. “As one of the Asia’s leading fintech companies, WireBarley has solved pain points for more than 650,000 customers and 2,000 businesses worldwide. We will continue to deliver accelerated growth, disruptive innovation and financial inclusion to enable convenient and borderless financial services worldwide.”
Through its efforts, WireBarley has been selected as the winner of the Financial Inclusivity sector at the G20 Digital Innovation Network (DIN) forum in Bali, Indonesia at the beginning of September.
“This year’s Fintech 250 winners are shaping the future of financial services, from payments and banking to investments and insurance,” so Brian LeeSVP of CB Insights’ intelligence unit. “Representing more than 30 countries, these companies are creating safer and more efficient ways to pay, transforming how traditional banking, insurance and investment products are delivered. Together, they not only make financial services more convenient for users, but also make them accessible to more people, especially traditionally underserved populations around the world.”
CB Insights’ research team selected these 250 winners from a pool of over 12,500 private companies, including applicants and nominees. They were selected based on factors including R&D activity, proprietary Mosaic scores, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength and technological novelty. The research team has also reviewed over 2,000 of Analyst briefings submitted by applicants.
Fast facts about the 2022 Fintech 250:
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Equity financing and agreements: The Fintech 250 cohort has crossed over 115 billion dollars in equity financing across over 1,100 agreements since the start of 2017 (as of 20 September 2022). Only in 2021 did the winners rise above 51 billion dollars across 337 share agreements.
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Unicorns: There are 159 companies with $1B+ valuations on the list.
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Global reach: Globalization is a central theme for this year’s Fintech 250. The winners represent 33 different countries across the globe – 7 more than last year. Just over half (53%) of the selected companies are headquartered in the US, which is the fewest we have seen in the Fintech 250 since 2017. The UK came second with 31 winners (12%), followed by India with 14 (6%), Brazil with 9 (4%), and Germany with 7 (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 combining data, expert insights and work management tools, clients manage their end-to-end technology decision-making process at CB Insights. To learn more, visit www.cbinsights.com.
About WireBarley Corp.
WireBarley Corp. was established in 2016 and grew exponentially with a strong foothold in Asia Pacific region. Recently, WireBarley has further strengthened its presence as a global brand with its expansion into the US and Canada markets, for the first time as a Korean overseas transfer company. With headquarters in South Koreait has several subsidiaries abroad viz Australia, New Zealand, Singapore, Hong Kongand the US WireBarley’s Foreign Exchange and Corporate Finance Center in Hong Kong, which is one of the largest foreign exchange trading hubs in the world, plays a critical role in enabling effective foreign exchange management and strong practical compliance and forging strategic partnerships with critical banks and payment actors. With 12 outbound and 45 inbound countries, WireBarley currently offers over 520 corridors for personal transfer. The company recently adopted the B2B transfer platform, e-wallet service and multi-currency card; it seeks to be not only Asia’s leading remittance company, but to leap forward to become a global total payment platform.
www.wirebarley.com
SOURCE WireBarley
