Companies tackle challenges in creative ways. As such, these start-ups are pretty safe bets if you’re looking for who’ll make a major impact in the new year. Here are 3 startups that you should keep an eye on in 2020.
1. Petal
Forget the credit scores: Petal decides whether you are eligible for a credit card using criteria such as your salary and bank statements. Aimed at younger consumers who have not yet built up a strong credit card, the company does not charge fees — including for late payments — and provides cash-back bonuses. Thanks to a recent $30 million VC funding round, the New York City-based business will grow its operations in a big way in 2020 plus another $300 million in debt financing.
2. Solidia
Cement development is a big culprit when it comes to climate change, responsible for around 7 percent of the world’s greenhouse gas emissions. Solidia used in New Jersey uses a proprietary process to tackle this issue, replacing calcareous with a synthetic material that needs lower temperatures and less energy than conventional methods. The cement absorbs CO2 as it hardens, all of which is a method of manufacturing with a 70 per cent lower carbon footprint. In August 2019, Solidia launched commercially in the U.S. through a collaboration with paving company EP Henry.
3. Better.com
New York City-based Better.com is attempting to overhaul the antiquated mortgage application process. The company is not paying fees or commissions and rather is simply making its profits through interest. And while conventional mortgage applications can take weeks, it takes just a few minutes to get pre-approved on Better.com, thanks to a fully automated process. The business, which in 2019 lent more than $4 billion to homebuyers, reported in August a $160 million funding round that took its total funding to $254 million. Now licensed in 44 states, it launches on the market in New York in 2020 and aims to be in all 50 countries by March.
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