- The fintech industry is moving every year. Throughout 2019, fintech startups globally scooped up $34.5 billion in funding.
- But as more and more fintech companies pour into the space, it can be tough to sift through them and identify the largest fintech companies.
- Do you work in the Fintech industry? Get business insights on the latest tech innovations, market trends, and your competitors with data-driven research.
The fintech industry is growing every year, and the market is starting to fill up with financial services providers and earky stage fintech startups trying to fulfill customers' needs and shape the future of finance.
Throughout 2019, fintech startups globally scooped up $34.5 billion in funding. Several innovative financial services and the largest fintech companies are driving that growth by attracting investors who are offering new financial products and services.
But as more and more companies pour into the financial technology space, it can be tough to sift through them and identify the major players. To help, we've listed below the largest fintech startups across six areas: Banking, Payments, Investment and Wealth Management, Insurance, Currency and Exchange, and Lending and Financing.
Note: All employee and funding data comes from Crunchbase.
Banking Fintech Providers & Startups
Monzo
Monzo's debit card
Monzo
Number of Employees: 251 to 500
Total Funding: $356 Million
One Thing to Know: U.K. digital-only mobile bank Monzo was founded as Mondo in 2015 and currently 4,245,063 people have a Monzo bank account.
Starling Bank
Number of Employees: 501 to 1,000
Total Funding: $354 Million
One Thing to Know: Starling's personal bank account won Best British Bank and Best Current Account 2020 and its business account won Best Business Banking Provider 2020.
Ally Financial
Ally Financial is currently used by over 8.5 million people.
Ally Bank/Facebook
Number of Employees: 1,001 to 5,000
Number of acquisitions: 3
Number of investments: 7
Total Funding: N/A
One Thing to Know: Ally Financial went public on April 10, 2014 and is currently used by over 8.5 million people.
Tandem
Number of Employees: 51 to 100
Number of acquisitions: 2
Total Funding: $147 Million
One Thing to Know: Digital-only bank Tandem has an official banking license with the Bank of England.
Tide
Number of Employees: 251 to 500
Total Funding: $114.8 Million
One Thing to Know: Tide claims it can get you a business credit card in just three minutes.
N26
N26 obtained a full German banking license in July 2016.
Press materials
Number of Employees: 1,001 to 5,000
Total Funding: $782.8 Million
One Thing to Know: Famous Silicon Valley investor Peter Thiel has backed the company, which obtained a full German banking license in July 2016.
Atom
Number of Employees: 251 to 500
Number of acquisitions: 1
Total Funding: $471 Million
One Thing to Know: Atom users can log in to the mobile banking app using voice and/or facial recognition.
Payments Fintech Providers & Startups
Dwolla
Number of Employees: 51 to 100
Total Funding: $51.4 Million
One Thing to Know: In 2019, Dwolla, Inc. announced the Integration Partner Program, which offers more seamless technical integrations between Dwolla, the partner, and their mutual clients.
Venmo
Venmo is a popular P2P payment service.
Shutterstock
Number of Employees: 51 to 100
Number of investments: 1
Total Funding: $1.3 Million
One Thing to Know: Braintree acquired the peer-to-peer payments company in 2012, and today it has become a household name in real-time P2P payments. Companies that accept venmo include: Uber, Urban Outfitters, Lululemon, Poshmark, and Forever 21.
PayPal
Number of Employees: More than 10,000
Number of acquisitions: 20
Total Funding: $216 Million
One Thing to Know: PayPal was founded on December 1, 1998 and acquired by eBay on July 8, 2002. The Payment provider currently has 277 million active accounts.
Paydiant
Paydiant uses a cloud-based platform that helps merchants and banks deploy their own mobile wallets.
Paydiant
Number of Employees: 51 to 100
Total Funding: $34.6 Million
One Thing to Know: PayPal-owned Paydiant uses a cloud-based platform that helps merchants and banks deploy their own mobile wallets inside their own apps.
AZA Group (also known as BitPesa)
Number of Employees: 101 to 250
Number of acquisitions: 1
Total Funding: $30 Million
One Thing to Know: BitPesa currently accepts Bitcoin and delivers fiat currency directly to mobile phones in Kenya, Nigeria, Uganda, and Tanzania. It also sells Bitcoin in Kenya, Nigeria, and Uganda.
WorldRemit
Number of Employees: 501 to 1,000
Total Funding: $407.7 Million
One Thing to Know: WorldRemit is available in more than 90 currencies and 150 countries. It boasts that transactions can be completed in minutes and is on average 25% cheaper against Ria, Western Union and Moneygram (when sending $200).
Stripe
Millions of companies in over 120 countries use Stripe.
Stripe
Number of Employees: 1,001 to 5,000
Number of acquisitions: 8
Number of investments: 18
Total Funding: $1.6 Billion
One Thing to Know: Millions of companies in over 120 countries use Stripe including Google, Amazon, Salesforce, Shopify, Microsoft, and more.
Braintree
Number of Employees: 251 to 500
Number of acquisitions: 1
Total Funding: $69 Million
One Thing to Know: The PayPal-owned company powers payments for companies such as Uber, Poshmark, and StubHub.
Klarna
Number of Employees: 1,001 to 5,000
Number of acquisitions: 7
Number of investments: 3
Total Funding: $1.4 Billion
One Thing to Know: Klarna is one of Europe's largest banks and is providing ecommerce payment solutions for 85 million consumers across 205,000 merchants in 17 countries.
Chase Pay
Chase Pay officially debuted its app on November 21, 2016.
BII
Number of Employees: 5,001 to 10,000
Total Funding: N/A
One Thing to Know: Chase Pay officially debuted its app on November 21, 2016.
Azimo
Number of Employees: 101 to 250
Total Funding: $88.1 million
One Thing to Know: Azimo promises money transfers in one hour or less.
Xoom
Number of Employees: 101 to 250
Number of acquisitions: 1
Total Funding: $104.3 Million
One Thing to Know: PayPal acquired this international money transfer company on July 2, 2015.
iZettle
Number of Employees: 251 to 500
Number of acquisitions: 1
Total Funding: $300 million
One Thing to Know: iZettle Go allows you to take both cash and card payments, along with Apple and Google Pay.
Square
Square expects to launch a bank in 2021.
Flickr / cogdogblog
Number of Employees: 1,001 to 5,000
Number of acquisitions: 15
Number of investments: 12
Total Funding: $590.5 Million
One Thing to Know: Square was granted a banking license by the FDIC and charter approval from the Utah Department of Financial Institutions for Square Financial Services, the bank it expects to launch in 2021.
Adyen
Number of Employees: 501 to 1,000
Total Funding: $266 million
One Thing to Know: Adyen's customers include ebay, Uber, Etsy, Spotify, and more.
ShopKeep
Number of Employees: 251 to 500
Number of acquisitions: 4
Total Funding: $137.2 million
One Thing to Know: ShopKeep has more than 25,000 customers nationally, sees over 289 million transactions annually, and is the No. 1 customer rated iPad POS.
Remitly
Number of Employees: 501 to 1,000
Number of acquisitions: 2
Total Funding: $420 million
One Thing to Know: With Remitly, you can transfer money from: UK, US, Australia, Canada, Ireland, Germany, France, Italy, Spain, Austria, Belgium, Finland, Netherlands, Norway, Singapore and Sweden to over 50 countries worldwide.
Transferwise
TransferWise offers borderless debit cards.
TransferWise
Number of Employees: 1,001 to 5,000
Number of investments: 1
Total Funding: $772.7 million
One Thing to Know: Transferwise moves over $5 billion every month, and save people and businesses $3 million in hidden fees every day.
Investing & Wealth Management Providers
Betterment
Betterment is the most popular robo-advisor in the U.S.
Betterment
Number of Employees: 101 to 250
Number of acquisitions: 1
Total Funding: $275 million
One Thing to Know: Betterment is the most popular artificial intelligence-powered robo-advisor in the U.S. and has more than $6 billion in assets under management.
Vanguard
Number of Employees: More than 10,000
Number of investments: 1
Total Funding: N/A
One Thing to Know: Vanguard had about $6.2 trillion in global assets under management, as of January 31, 2020.
Moneyfarm
Number of Employees: 101 to 250
Number of acquisitions: 2
Total Funding: $127.3 million
One Thing to Know: Moneyfarm operates in Italy and the United Kingdom.
Robinhood
Robinhood's cash management feature
Business Insider Intelligence
Number of Employees: 501 to 1,000
Number of acquisitions: 1
Total Funding: $1.2 Billion
One Thing to Know: Robinhood has a service called Robinhood gold that allows for pre-market and after-market trading, additional buying power, and larger instant deposits.
Advizr
Number of Employees: 11 to 50
Total Funding: $10.6 million
One Thing to Know: Advizr was acquired by Orion Advisor Services, LLC (Orion), the premier portfolio management solution provider for registered investment advisors, in 2019.
Nutmeg
Number of Employees: 101 to 250
Total Funding: $153.6 million
One Thing to Know: Nutmeg specializes in ISAs and pensions.
Wealthfront
Wealthfront's Cash Account, offers a 2.24% interest rate
Courtesy of Wealthfront
Number of Employees: 101 to 250
Number of acquisitions: 1
Total Funding: $204.5 million
One Thing to Know: In 2019 Wealthfron launched the Wealthfront Cash Account, offering a 2.24% interest rate and FDIC insurance that covers balances up to $1 million.
Habito
Number of Employees: 101 to 250
Total Funding: $231million
One Thing to Know: Habito targets home buyers and tries to remove the friction of mortgage applications.
Hydrogen
Number of Employees: 51 to 100
Total Funding: N/A
One Thing to Know: Before launching in 2017, Hydrogen started as a product offering of consumer fintech company Hedgeable. Hydrogen launched as a standalone platform with the mission of allowing teams to deploy financial applications anywhere in the world.
SigFig
Number of Employees: 101 to 250
Total Funding: $119.5 million
One Thing to Know: SigFig has backing from UBS, New York Life, Santander InnoVentures, Eaton Vance, Comerica Bank, and more.
Scalable Capital
Number of Employees: 101 to 250
Total Funding: $72 million
One Thing to Know: The Munich-based company focuses primarily on risk management.
Mint
Mint's mobile app.
Mint
Number of Employees: 5,001 to 10,000
Number of investments: 1
Total Funding: $31.8 Million
One Thing to Know: Intuit acquired Mint on September 14, 2009.
Wealthsimple
Number of Employees: 101 to 250
Number of acquisitions: 2
Total Funding: $48 million
One Thing to Know: In 2020 Wealthsimple launched a no-fee spending account with 2.4% interest.
Charles Schwab
Number of Employees: More than 10,000
Number of investments: 12
Number of acquisitions: 10
Total Funding: N/A
One Thing to Know: Charles Schwab went public on January 10, 2003.
Insurance Fintech Providers
Bought by Many
Number of Employees: 101 to 250
Number of acquisitions: 2
Total Funding: $116 Million
One Thing to Know: In 2019, Bought by Many was voted the Most Trusted Pet Insurance Provider at the Moneywise Customer Service Awards.
Slice Labs
Number of Employees: 51 to 100
Total Funding: $35.5 million
One Thing to Know: The insurance technology startup offers a pay-per-use policy for Uber and Lyft drivers while they are on the job.
Shift Technology
Number of Employees: 251 to 500
Total Funding: $100 million
One Thing to Know: Shift Technology's AI-native SaaS solutions help insurers defeat fraud and automate claims.
Cuvva
Number of Employees: 51 to 100
Total Funding: $18 Million
One Thing to Know: The UK-based company provides insurance on a car for only as long as the customer needs it, whether that's an hour or a day.
Steppie
Number of Employees: 1 to 10
Total Funding: $98,000
One Thing to Know: Steppie provides insurance policy rewards for healthy behaviors such as walking, running, and bicycling.
Knip
Number of Employees: 101 to 250
Total Funding: $18.4 million
One Thing to Know: The mobile insurance company has offices in Switzerland, Germany, and Serbia.
Roost
Number of Employees: 11 to 50
Total Funding: $16.9 million
One Thing to Know: Roost specializes in smart home technology.
Kasko
Number of Employees: 11 to 50
Total Funding: $1.4 Million
One Thing to Know: In 2020 Kasko partnered with OCC to Build Flexible Classic Car Insurance for the Austrian Market.
Lemonade
Lemonade is ranked the No. 1 insurance company in the US.
Courtesy of Lemonade
Number of Employees: 101 to 250
Total Funding: $480 million
One Thing to Know: Lemonade is ranked the No. 1 insurance company in the US by the App Store, Google Play, Supermoney, and Clearsurance.
Teambrella
Number of Employees: 1 to 10
Total Funding: $1.3 Million
One Thing to Know: Teambrella's users provide coverage to each other. When one person submits a claim within his or her team, the teammates reimburse it.
Fitsense
Number of Employees: 1 to 10
Total Funding: $43,000
One Thing to Know: Fitsense uses wearables data to help insurance companies personalize their health and life insurance packages for individuals.
Friendsurance
Number of Employees: 101 to 250
Total Funding: $15.3 million
One Thing to Know: The P2P insurance company rewards small user groups with cash back bonuses at the end of the year if they remain claimless.
Cocoon
Number of Employees: 11 to 50
Total Funding: $7.1 million
One Thing to Know: Cocoon specializes in smart home security.
Markets, Currency, & Exchange Fintech Companies
Ripple
Ripple's network spans 300+ providers across 40+ countries.
Chris Helgren/Reuters
Number of Employees: 501 to 1,000
Number of investments: 12
Number of acquisitions: 1
Total Funding: $293.8 million
One Thing to Know: Ripple's network spans 300+ providers across 40+ countries and six continents.
Kraken
Number of Employees: 501 to 1,000
Number of acquisitions: 10
Total Funding: $118.5 million
One Thing to Know: The bitcoin exchange says it was the first to have its trading price and volume displayed on the Bloomberg terminal.
Coinbase
In 2020 Coinbase made it possible for users to pay a friend, make a purchase, or transfer funds across 100+ countries.
Coinbase
Number of Employees: 251 to 500
Number of investments: 9
Number of acquisitions: 13
Total Funding: $547.3 million
One Thing to Know: In 2020 Coinbase made it possible for users to pay a friend, make a purchase, or transfer funds across 100+ countries with just a few taps.
Bitstamp
Number of Employees: 101 to 250
Number of investments: 1
Total Funding: $102.4 million
One Thing to Know: Bitstamp was the first regulated and licensed virtual currency exchange in the European Union.
BTC Media
Number of Employees: 11 to 50
Number of acquisitions: 3
Total Funding: N/A
One Thing to Know: BTC is the world's largest Bitcoin media group.
Ethereum
Ethereum works with bitcoin, developer APIs, consumer applications, and more.
Jack Taylor/Getty Images
Number of Employees: 51 to 100
Number of Investments: 3
Total Funding: $18.4 Million
One Thing to Know: Ethereum works with bitcoin, developer APIs, consumer applications, and more.
Digital Asset
Number of Employees: 101 to 250
Number of acquisitions: 4
Total Funding: $142.2 million
One Thing to Know: Digital Asset has formed partnerships with Accenture, Broadridge, and PwC.
Circle
Number of Employees: 251 to 500
Number of acquisitions: 3
Total Funding: $246 million
One Thing to Know: Goldman Sachs, Accel, and other heavyweights have poured their financial support into Circle.
Lending & Financing Technology Companies
AvantCredit
Number of Employees: 501 to 1,000
Total Funding: $142 Million
One Thing to Know: AvantCredit, a subsidiary of Avant, has lent over £250 million to more than 80,000 customers.
Zopa was one of the first three members of the U.K.'s Peer-to-Peer Finance Association
Zopa
Number of Employees: 251 to 500
Total Funding: $464.5 million
One Thing to Know: Zopa was one of the first three members of the U.K.'s Peer-to-Peer Finance Association, along with FundingCircle and RateSetter.
Bond Street
Number of Employees: 11 to 50
Total Funding: $411.5 million
One Thing to Know: Bond Street was acquired by Goldman Sachs on Sep 14, 2017.
SoFi
Samsung Money is a debit card and cash management account launched in partnership with SoFi.
Samsung
Number of Employees: 1,001 to 5,000
Number of acquisitions: 3
Number of investments: 9
Total Funding: $2.5 billion
One Thing to Know: SoFi has loaned $45 billion to date to more than 1,000,000 members.
Assetz Capital
Number of Employees: 11 to 50
Number of investments: 1
Total Funding: $23 million
One Thing to Know:Assetz Capital has funded a total of 4,846 new homes since it was founded in 2013.
Funding Circle
Funding Circle has helped over 81,000 small businesses worldwide secure $11.7 billion in financing.
Funding Circle
Number of Employees: 501 to 1,000
Number of acquisitions: 3
Number of investments: 4
Total Funding: $746.4 million
One Thing to Know: Funding Circle has helped over 81,000 small businesses worldwide secure $11.7 billion in financing.
Younited Credit
Number of Employees: 101 to 250
Total Funding: $122.1 million
One Thing to Know: Younited Credit was formerly known as Prêt d'Union.
Orchard
Number of Employees: 51 to 100
Total Funding: $286 million
One Thing to Know: Orchard uses its technology and infrastructure to build systems that help marketplace lenders grow.
LendUp
Number of Employees: 101 to 250
Total Funding: $361.5 million
One Thing to Know: LendUp offers credit education courses through its website that cover credit building, consumer credit rights, and more.
Prosper Marketplace
Number of Employees: 251 to 500
Total Funding: $415.5 million
One Thing to Know: Prosper was the first marketplace lender in the U.S. when it launched in 2006.
Affirm
Affirm's savings account will launch with 1.30% APY.
Affirm
Number of Employees: 501 to 1,000
Number of acquisitions: 2
Total Funding: $1 Billion
One Thing to Know: The San Francisco-based financial services company was found in 2012.
Auxmoney
Number of Employees: 101 to 250
Total Funding: $2 Billion
One Thing to Know: Auxmoney is a German peer-to-peer loan marketplace.
OnDeck
Number of Employees: 501 to 1,000
Total Funding: $1.2 Billion
One Thing to Know: OnDeck has delivered more than $13 billion to businesses worldwide.
LendInvest
Number of Employees: 251 to 500
Total Funding: $1.3 Billion
One Thing to Know: LendInvest has an international capital base of over £2 billion.
Bondora
Number of Employees: 51 to 100
Total Funding: $7.9 million
One Thing to Know: 124,821 people have invested over €372M and earned €45M.
Lendio
Number of Employees: 11 to 50
Number of acquisitions: 2
Total Funding: $108.5 million
One Thing to Know: Lendio has helped small business owners get over $1.4 billion in loans.
LendingClub
LendingClub's loan originations
Business Insider Intelligence
Number of Employees: 501 to 1,000
Number of acquisitions: 2
Number of investments: 1
Total Funding: $392.2 Million
One Thing to Know: In 2020 LendingClub acquired Radius Bank for $185 million.
Seedrs
Number of Employees:101 to 250
Number of acquisitions: 1
Number of investments: 444
Total Funding: $71.3 million
One Thing to Know: In 2020 Seedrs partnered with Capdesk – creating the first private secondary market for shareholders and employees in Europe.
Kabbage
Kabbage Insights cash flow forecast.
Kabbage
Number of Employees: 501 to 1,000
Number of acquisitions: 2
Total Funding: $2.5 Billion
One Thing to Know: Kabbage has provided more than $2 billion in funding to more than 84,000 businesses.
Lu.com
Number of Employees: 501 to 1,000
Total Funding: $3 billion
One Thing to Know: Lufax was incorporated in September 2011 in Shanghai with the support of Shanghai's Municipal Government and has since become China's largest Internet finance company.
Market Finance
Number of Employees: 101 to 250
Total Funding: $50.3 million
One Thing to Know: The P2P fintech platform has funded against £1,021,631,610 to date.
Crowdfunder
Number of Employees: 11 to 50
Number of investments: 6
Total Funding: $5 million
One Thing to Know: The Los Angeles-based company focuses on changing U.S. laws to make it easier for startups and small businesses to raise funds through equity or revenue-based financing.
Crowdcube
Number of Employees: 51 to 100
Number of investments: 958
Total Funding: N/A
One Thing to Know: Crowdcube is backed byBalderton Capital, Draper Esprit, Numis and Channel 4, who have collectively invested more than £19.5m across multiple rounds of investment.
BlueVine
BlueVine has delivered over $3 Billion in funds to over 25,000 customers.
BlueVine
Number of Employees: 251 to 500
Total Funding: $692.5 million
One Thing to Know: BlueVine has delivered over $3 Billion in funds to over 25,000 customers.
RateSetter
Number of Employees: 251 to 500
Number of acquisitions: 1
Total Funding: $47.2 million
One Thing to Know: RateSetter has over 84,000 investors, investing over £3.6 billion to date.
More to Learn
This comprehensive list of fintech companies merely scratches the surface of the fintech industry, which is growing in unprecedented ways.
Do you work in the Fintech industry? Get business insights on the latest tech innovations, market trends, and your competitors with data-driven research.
And here are some related Banking reports that might interest you:
- The Rise of Banking-as-a-Service, which looks at the benefits banks stand to gain by offering BaaS platforms, discusses key players in the industry that have already successfully launched BaaS platforms, and recommends strategies for FIs looking to move into BaaS.
- AI in Banking, which identifies the most meaningful AI applications across banks' front and middle offices.
- The Global Neobanks Report, which explores how the neobank market has grown rapidly, and what's in store as the industry pivots from hyper-growth to sustainability.