Axoni, a New York-based capital markets technology firm that specializes in distributed ledger infrastructure, has been named to the Fintech 250, a select group of emerging private companies working on groundbreaking financial technology.

CB Insights CEO and co-founder, Anand Sanwal, revealed the Fintech 250 companies during The Future of Fintech, a gathering of leading financial institutions, best fintech startups, and most active venture investors. Axoni is one of the companies being recognized for its innovative technology in front of an audience of 1000 senior executives from around the world and news outlets including The New York Times, The Wall Street Journal, The Financial Times, Reuters and Bloomberg.

“The financial services industry will see more change in the next 10 years than it has in the last 100. And that transformation is being driven by a group of smart insurgent startup companies. The Fintech 250 are the most promising of these insurgents. They are bringing emerging technologies and business models to financial services that will permanently change the way we handle money and do business,” Sanwal said.

According to the official release, the Fintech 250 companies were selected on the basis of a number of factors including data submitted by the companies and CB Insights’ Mosaic Score. The Mosaic Score, based on CB Insights’ National Science Foundation-funded algorithm, measures the overall health and growth potential of private companies and can help predict a company’s momentum, market health, and financial viability.

Founded in 2013, Axoni offers distributed ledger technology deployments, bespoke smart contract development, and analytics tools. Last month, the company won the 2017 Derivative Industry Initiative of the Year Award related to the multi-firm deployment of blockchain infrastructure for equity swap processing. Also, Citi recently joined the startup’s Series A funding round, bringing the total amount raised to over $20 million.

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