There are 26 financial technology “unicorns”, or startup companies valued at $1 billion or more, after five new firms reached that milestone last quarter, according to a report released in July.

It follows a record US$5.193bn of fundraising to fintech firms in the second quarter, the latest CB Insights report on the fintech industry said. That figure eclipses the previous record third quarter of 2015, when $5.187 billion was raised.