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TCS GROUP HOLDING PLC

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TCS : Tinkoff among world's Top 3 neo-banks according to WhiteSight

01/13/2021 | 06:10am EDT
Tinkoff among world's Top 3 neo-banks according to WhiteSight

Moscow, Russia - 13 January 2021
WhiteSight, a research house, ranked Tinkoff among the world's top 3 neo-banks in 2020, according to a study published this month. Tinkoff is the only profitable bank on the list.

The ranking takes into account such metrics as capitalisation and market valuation and compares the digital banks across various parameters such as user base, funding, investors and more. It focuses on banks with independent ownership and excludes subsidiaries of existing enterprises.

WhiteSight analysed 20 neo-banks from around the world. U.S.-based Chime was ranked the highest with a valuation of USD 14.5 bn, followed by NuBank from Brazil with a valuation of USD 10 bn. Tinkoff took third place with a valuation of USD 6.3 bn.

The study said Tinkoff is a «true unique-orn on the list as it not just holds a billion USD valuation but is also profitable (Since 2009) and public (IPO'ed in 2013)».

Tinkoff was also highlighted as one of the leaders in funding. The three neo-banks (Sofi, Judo Bank and Tinkoff) to attract the most funding raised USD 5.8 bn in aggregate since their launch. Sofi topped the list with total funding of USD 2.5 bn, Judo came second with a total of USD 1.7 bn, raising USD 215 mn in 2020 and Tinkoff had a total of USD 1.6 bn in 2012 and listed on the London Stock Exchange in 2013 with a USD 1.1 bn IPO, the study noted.

The research aims to highlight «the exponential momentum in the neo-banking space through the most promising independent neo-banks across the world», according to WhiteSight.

Disclaimer

TCS Group Holding plc published this content on 13 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2021 11:09:01 UTC


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