Adaptive Named to the 2024 CB Insights' List of the 100 Most Innovative Fintech Startups

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Oct 24, 2024, 09:00 ET

Adaptive recognized for achievements in Financial Management and Accounting

NEW YORK, Oct. 24, 2024 /PRNewswire/ -- CB Insights today named Adaptive to its seventh annual Fintech 100, showcasing the 100 most promising private fintech companies in the world.

"The 2024 Fintech 100 winners are high-momentum companies shaping the future of financial services," said Laura Kennedy, Principal Analyst at CB Insights. "Unsurprisingly, this year's cohort is deploying AI across a wide variety of solutions. But they're also diverse in their reach in emerging and developing economies, and focus on everything from fraud prevention to financial inclusion."

Illustration of Adaptive's AI-native platform

"Being named to the CB Insights Fintech 100 is a great milestone for Adaptive," said Matt Calvano, Founder and CEO of Adaptive. "Our mission has always been to simplify construction finance for builders, and this recognition reflects the progress we've made together with our customers. We're grateful to our customers and partners for their trust and support. We're committed to further streamlining financial management and accounting with our AI-driven platform, supporting builders every step of the way."

The list primarily includes early- and mid-stage startups driving innovation across fintech. Our research team picked winning companies based on CB Insights datasets, including deal activity, industry partnerships, team strength, investor strength, employee headcount, and proprietary Commercial Maturity and Mosaic scores. We also dug into Analyst Briefings submitted directly to us by startups.

Founded in 2022, Adaptive was born out of a deep understanding of the pain points in construction finance. After running a hands-on, white-glove bookkeeping service for builders, Adaptive's founder Matt Calvano, along with co-founders Henry Bradlow and Francisco Enriquez, recognized the fragmented and outdated systems that slow down general contractors, remodelers, and homebuilders.

In July 2024, Adaptive closed a $19 million Series A round, led by Emergence Capital. This round highlights the growing demand for smarter, more efficient construction finance solutions. Adaptive's innovative platform has quickly become a go-to tool for builders who want to streamline payment workflows, gain financial clarity, and scale their operations without adding complexity. Adaptive serves over 300 customers today, including custom homebuilders, commercial general contractors, and real estate developers.

Quick facts on the 2024 Fintech 100:

The 100 winners include 13 wealth management companies, 11 in embedded finance, and 10 in insurance.
The 2024 cohort is deploying AI across a wide variety of use cases and features a notable number of solutions driving financial inclusion and accessibility.
$7.1B in equity funding raised over time, including more than $2B in 2024 so far (as of 10/17/2024).
Nearly 50% are early-stage companies (primarily seed/angel or Series A).
51 companies from outside the United States, across 22 countries on 5 continents. This includes 17 companies from 11 emerging and developing economies.
850+ business relationships since 2022, including with industry leaders like Mastercard, State Street, and Flipkart.

About CB Insights
CB Insights is an AI super analyst for market intelligence. It delivers instant insights that help you bet on the right markets, track competitors, and source the right companies. Our AI super analyst is powerful because it is built on the validated database of companies and markets that CB Insights is famous for. To learn more, please visit www.cbinsights.com.

About Adaptive
Adaptive is an AI-native financial management platform designed for the construction industry. Adaptive simplifies construction finance for builders nationwide by automating tedious accounting and bookkeeping tasks and providing instant clarity into budgets and cash flow. For more information about Adaptive, visit www.adaptive.build.

SOURCE Adaptive