Global fintech industry analysis
The global fintech market reached a value of over $194.1 billion in 2022 and is expected to grow at a CAGR of 16.8% over the forecast period 2023-2028 to reach over $492.81 billion by 2028.
According to The Brainy Insights report, the global fintech market reached a value of more than $194.1 billion in 2022 and will reach a value of $936.5 billion by 2030, growing at a compound annual growth rate of 26.2% from 2022 to 2030. This growth is attributed to improvements in infrastructure for making payments and storing and accessing financial data. This includes factors such as improved Internet connectivity, improved mobile networks, and the development of disruptive technologies such as blockchain and artificial intelligence.
Another key factor is the growth of investment by both venture capitalists and traditional financial institutions. These investments support the development of new products and services, and also help raise awareness of fintech among the general public. According to KPMG, In 2022, global fintech investment in the payments segment accounted for $75.2 billion.
Key trends in the global fintech industry
There are several key trends in the fintech industry that are worth noting. First, there is a trend toward increased collaboration between traditional financial institutions and fintech startups. This is because traditional financial institutions are beginning to recognize the potential of fintech to disrupt the status quo. They also see the benefits of partnering with fintech companies to bring new products and services to market more quickly.
Second, machine learning and artificial intelligence are increasingly being used to automate financial processes and make better decisions. This is a trend that is likely to continue as fintech companies look for ways to improve their products and services.
Third, blockchain technology is beginning to gain traction in the fintech industry. This is because blockchain has the potential to revolutionize the way financial transactions are processed. Blockchain technology is secure, transparent and efficient, and it has the potential to have a big impact on the financial industry.
Finally, there is a trend toward creating fintech products and services focused on mobile devices. This is because more and more people are using their mobile devices to manage their finances. Fintech companies are responding to this by creating more mobile-friendly products and services.
We were helped to compile a detailed ranking of the largest fintech companies in the world by the portal YahooFinance, which conducted a large research on this topic at the end of 2022.
The research was based on the CFTE ranking, which lists the largest fintech companies in the world. CFTE is a leading fintech education institution headquartered in London, UK. CFTE's rankings are constantly updated and based on data from reliable sources.
The selection we're going to talk about today includes both public and private fintech companies. Public companies have been ranked based on their market value. For private companies, we used data from Crunchbase and other sources to determine the estimated value of these companies. The companies in this ranking are ranked according to their valuation, from lowest to highest.
The largest fintech companies in the world
15. Wise plc.
Market value as of Feb. 6: $5.93 billion.
Wise plc is an online financial services fintech company. About 15 banks in 11 countries use the company's platform. The company offers a range of services, including personal and business payment solutions, credit cards and currency exchange. Wise plc is headquartered in London, United Kingdom. The company is one of the largest fintech companies in the world and is valued at $7.53 billion as of Nov. 18.
Estimated valuation: $6.7 billion.
Klarna is a Swedish e-commerce company that provides payment solutions for online stores. Klarna was founded in 2005 and is headquartered in Stockholm, Sweden.
The company is one of the leaders in the global fintech market, providing a quality shopping experience to approximately 150 million active consumers in more than 450,000 retail stores in 45 countries. According to Crunchbase, Klarna has raised $4.5 billion in funding in 28 rounds, the most recent on July 11, 2022. Klarna raised $800 million at a post-transaction valuation of $6.7 billion. Klarna is among the largest fintech companies in the world.
13. SoFi Technologies, Inc.
Market value as of Feb. 6: $6.97 billion.
SoFi Technologies, Inc. is an American fintech company that provides personal loans, student loan refinancing, mortgages and other financial products. The company was founded in 2011 by James Finnigan, Dan McLean, Mike Cagney and Ian Brady and is headquartered in San Francisco, California.
The company's mission is to help its members achieve financial success, and it focuses on providing excellent customer service. SoFi Technologies, Inc. has been recognized as a leader in the fintech industry and has received numerous awards and accolades. As of Feb. 6, SoFi Technologies, Inc. is worth $6.97 billion and is among the largest fintech companies in the world.
12. Robinhood Markets, Inc.
Market value as of Feb. 6: $9,44 billion.
Robinhood Markets, Inc. - an American financial services company headquartered in Menlo Park, Calif. The company offers a mobile app and website that allows consumers to invest in stocks, ETFs and options. Robinhood Markets, Inc. pioneered commission-free trading and has attracted a consumer base of more than 15 million people. As of February 6, the company has a market value of $7.68 billion and is one of the largest fintech companies in the world.
11. Coinbase Global, Inc.
Market value as of Feb. 6: $16.95 billion.
Coinbase Global, Inc. is a leading cryptocurrency asset exchange company. The broker offers exchanges of Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Tezos and many other digital assets for fiat currencies in more than 100 countries. Coinbase Global, Inc. is one of the largest fintech companies in the world and has more than 98 million users and 245,000 ecosystem partners worldwide. As of February 6, Coinbase Global, Inc. has a public market value of $16.95 billion.
Market value as of Feb. 6: $22.65 billion.
Nubank is a Brazilian financial technology company. The company was founded in 2013 by David Velez, Edward Vibl and Cristina Junqueira. Nubank offers a fee-free credit card, a mobile app and a website that allows users to track their spending, pay bills and receive notifications of account activity. As of February 6, the company is worth $22.65 billion and among the largest fintech companies in the world.
Estimated valuation: $25 billion
Chime is a financial technology company that offers digital financial services through a mobile app. The app provides a checking account with no monthly fees, a savings account with no minimum balance, and a debit card that can be used wherever Visa is accepted. Chime also offers direct deposit, mobile check deposit and bill pay. According to Crunchbase, Chime has raised $2.3 billion in nine funding rounds. The company's last funding round was Aug. 13, 2021, for $750 million, valuing Chime at $25 billion. Chime is among the largest fintech companies in the world.
Estimated value: $33 billion
Revolut is a British fintech company that offers users a mobile app to manage their finances. The app allows users to track their spending, set goals, and make payments. Revolut also offers a prepaid debit card that can be used to make purchases online and in stores. The company has been operating since 2015 and is headquartered in London, U.K. According to Crunchbase, Revolut has raised a total of $1.7 billion in 19 funding rounds. As of July 2021, Revolut is valued at $33 billion, according to Reuters.
Estimated valuation: $40 billion
Checkout.com is a leading provider of online payment solutions serving businesses of all sizes in a wide variety of industries. The company offers a suite of products and services that enable businesses to accept and process payments online, including credit and debit cards, e-wallets and wire transfers. Checkout.com is headquartered in London and has offices in the U.S. and Europe. According to Crunchbase, Checkout.com has raised $1.8 billion in four funding rounds. The company's last funding round was $1 billion on January 12, 2022. Checkout.com is valued at $40 billion as of January 2022 and is among the largest fintech companies in the world.
6. Adyen N.V.
Market value as of Feb. 6: $47,81 billion.
Adyen N.V. - a leading Dutch financial technology company that provides payment processing and related services. It offers online and mobile payment solutions, point-of-sale (POS) solutions, and anti-fraud and risk management services. The company serves retailers, e-commerce companies, airlines and other businesses in various industries. Adyen N.V. was founded in 2006 and is headquartered in Amsterdam, Netherlands. As of February 6, Adyen N.V. is worth $47,81 billion on the open market and is one of the largest fintech companies in the world.
5. Block, Inc.
Market value as of Feb. 6: $49,55 billion.
Block, Inc. is a leading U.S. fintech company. The company's flagship product is the Cash app, which allows users to send and receive money without having to use a bank account. The app is available on iOS and Android devices. More than 40 million people use the company's app, and as of February 6, Block, Inc. has a public market value of $49,55 billion. Block, Inc. ranks high among the largest fintech companies in the world.
4. Fiserv, Inc.
Market value as of Feb. 6: $67.34 billion.
Fiserv, Inc. is a leading provider of financial technology solutions. The company's broad range of products and services includes account and transaction processing services, electronic account payments and account presentation services, and fraud detection and prevention services.
Fiserv, Inc. also provides a variety of software products and services, including core invoice processing systems, document imaging and document management systems, and online banking and bill payment solutions.
Fiserv, Inc. has a long history of innovation and growth. Founded in 1984, the company has grown to serve more than 16,000 customers worldwide. It employs more than 40,000 people and has a market value of $67.34 billion as of February 6. Fiserv, Inc. ranks high among the largest fintech companies in the world.
3. PayPal Holdings, Inc.
Market value as of Feb. 6: $94.22 billion.
PayPal Holdings, Inc. is a leading player in the fintech industry. The company offers a wide range of financial services and products, including online payments, mobile payments and credit products. PayPal Holdings, Inc. has a strong position in online payments, with a customer base of more than 420 million users worldwide. The company is also investing heavily in new technologies such as artificial intelligence and blockchain. PayPal Holdings, Inc. is well positioned to capitalize on the growing trend of digital payments and the abandonment of traditional banking products and services and maintain its leadership position in fintech. The company is one of the largest fintech companies in the world and has a market value of $94.22 billion as of February 6.
2. Stripe, Inc.
Estimated valuation: $95 billion
Stripe, Inc. - a technology company that enables businesses and individuals to accept and make payments over the Internet. Stripe, Inc. provides the technical, anti-fraud and banking infrastructure necessary for online payment systems. Stripe, Inc. is one of the leading companies in the fintech industry and one of the best-funded startups. Stripe, Inc. has raised $2.3 billion from investors. Stripe, Inc. was last valued at $95 billion in 2022 by investors and now ranks as one of the largest fintech companies in the world.
1. Ant Group
Estimated value: $151 billion
Ant Group is one of the leading companies in the fintech industry. Ant Group offers online payment services, credit products and other financial services. The group owns and operates Alipay, one of the world's largest online payment platforms, which serves more than 1.3 billion consumers and 80 million retailers. According to Crunchbase, Ant Group has raised $22 billion in six funding rounds. The most recent funding round was a debt financing round on Sept. 28, 2022. According to Bloomberg, Ant Group currently has a maximum potential valuation of $151 billion. Ant Group is one of the largest fintech companies in the world.
This is a ranking of the giants in the fintech services market. You have probably heard about many of these companies before, and you may have heard about some of them only today.
It is worth saying that the FinTech market is very dynamic and volatile. However, investments in financial technology companies around the world have skyrocketed in recent years, and despite the current slowdown, the total value of the funding is only expected to increase in the long term.
Over the last few years, fintech products such as cryptocurrencies, blockchain, Robo advisors, and neobanks have attracted the attention of mainstream media and are part of the popular culture.
One conclusion is that the market is just forming, and its main growth is yet to come. We offer you to stay with OctoStrategy to be in the center of FinTech events.