Top 10 Fintech Companies Of January 2024 (2024)

What Are the Biggest Fintech Companies of 2024?

FundExpense Ratio
Ant Group$78.5 billion
Stripe, Inc.$50 billion
Revolut$33 billion
Chime Financial, Inc.$25 billion
Rapyd$15 billion
Plaid$13.4 billion
Brex, Inc.$12.3 billion
GoodLeap$12 billion
Bolt$11 billion
Checkout.com$11 billion

Ant Group

Top 10 Fintech Companies Of January 2024 (1)

Valuation

$78.5 billion

Headquarters

Hangzhou, China

Year Founded

2004

Top 10 Fintech Companies Of January 2024 (2)

$78.5 billion

Hangzhou, China

2004

Why We Picked It

Ant Group runs Alipay, which is the largest payment network in China. Alipay offers a digital wallet and a widely used payments app. Users can scan a QR card with merchants to make payments without using cash or a credit card. Alipay has over one billion users worldwide.

In 2020, Alipay was planning to go public with a valuation of over $300 billion. However, it ended up canceling the deal and has since faced regulatory issues with the Chinese government. In July 2023, Ant Group bought back some shares from investors at a valuation of $78.54 billion. Despite its troubles, this still makes Ant Group the world’s most valuable private fintech company.

Stripe, Inc.

Top 10 Fintech Companies Of January 2024 (3)

Valuation

$50 billion

Headquarters

San Francisco and Dublin, Ireland

Year Founded

2009

Top 10 Fintech Companies Of January 2024 (4)

$50 billion

San Francisco and Dublin, Ireland

2009

Why We Picked It

Stripe offers payment processing software that allows businesses to collect money from customers. Many merchants can get instant account approval, making Stripe a quick solution for payment processing. In 2022, Stripe said it processed over $817 billion in transactions, with clients ranging from small startups to massive corporations like Amazon, Google, and Shopify. Stripe has dual headquarters in San Francisco and Dublin, Ireland.

In 2023, Stripe raised $6.5 billion at a $50 billion valuation. While this makes Stripe the most valuable fintech company in the United States, it’s a significant downgrade from before. In 2021, Stripe had a $91 billion valuation but lost value after market conditions got tougher for technology companies.

Revolut

Top 10 Fintech Companies Of January 2024 (5)

Valuation

$33 billion

Headquarters

London, U.K.

Year Founded

2015

Top 10 Fintech Companies Of January 2024 (6)

Why We Picked It

Based in London, Revolut is Europe’s most valuable fintech company. It provides mobile banking services, debit cards, international transfers and currency exchange, as well as investments. Revolut’s investment app offers commission-free trading of stocks and cryptocurrencies. While Revolut started by focusing on the European market, it has since expanded around the world, including the U. S. and Japan.

Revolut received a $33 billion valuation the last time it raised money from investors in July 2021. This would make it the third-most valuable bank in the UK, behind only HSBC and Lloyd’s of London. However, investors worry Revolut has lost value, with shares selling on secondary markets at a significant discount from their past price.

Chime Financial, Inc.

Top 10 Fintech Companies Of January 2024 (7)

Valuation

$25 billion

Headquarters

San Francisco

Year Founded

2012

Top 10 Fintech Companies Of January 2024 (8)

$25 billion

San Francisco

2012

Why We Picked It

Chime is a fintech company that provides banking services, although technically speaking, it is not a bank. The company provides free checking and high-yield savings accounts, online banking, and a debit card with access to over 60,000 ATMs. Chime provides services by partnering with other banks. Customers sign up for Chime using its mobile app. Founded in San Francisco in 2012, today Chime has over 14 million customers.

In 2021, Chime had a market valuation of $25 billion. However, the company has delayed its IPO and laid off about 12% of its workforce, roughly 160 employees. It may no longer be worth $25 billion.

Rapyd

Top 10 Fintech Companies Of January 2024 (9)

Valuation

$15 billion

Headquarters

London, U.K.

Year Founded

2016

Top 10 Fintech Companies Of January 2024 (10)

$15 billion

London, U.K.

2016

Why We Picked It

Rapyd is an Israeli fintech company that specializes in global payment services. Through the Rapyd platform, customers can send funds across country borders through debit/credit cards, bank transfers, digital wallets, and cash. Rapyd handles payouts in over 190 countries and works to lower the cost of transaction and foreign exchange (FX) fees compared to the traditional banking system.

Rapyd has expanded over the past couple of years by acquiring companies in Asia and Europe. It received a valuation of $15 billion from investors in early 2022, increasing its market cap by six times over a year. Rapyd is the most valuable fintech and the most valuable privately held company in Israel.

Plaid

Top 10 Fintech Companies Of January 2024 (11)

Valuation

$13.4 billion

Headquarters

San Francisco

Year Founded

2013

Top 10 Fintech Companies Of January 2024 (12)

$13.4 billion

San Francisco

2013

Why We Picked It

Plaid works as an intermediary between your financial accounts and apps. This lets you connect your bank account to these apps while keeping your information secure. Betterment, Chime and Venmo all rely on Plaid to connect their users’ other financial accounts. According to the company, 12,000 financial institutions are connected via Plaid.

Plaid launched in 2013 and has its headquarters in San Francisco. Plaid had a market valuation of $13.4 billion when it last raised money in 2021. At the time, it was considering a merger with Visa but has since continued to operate as its own company using investor cash to fund operations.

Brex, Inc.

Top 10 Fintech Companies Of January 2024 (13)

Valuation

$12.3 billion

Headquarters

San Francisco

Year Founded

2017

Top 10 Fintech Companies Of January 2024 (14)

$12.3 billion

San Francisco

2017

Why We Picked It

Brex provides business banking services through its platform and technology. This includes corporate credit cards, expense management, bill payment, and travel bookings. A business can supervise and manage spending for the company and its employees through this platform. Brex is an alternative to the traditional banking system. It offers cash management accounts and venture debt, a type of financing for startup companies.

Brex has its headquarters in San Francisco and was founded in 2017. It received a $12.3 valuation when it raised $300 million in financing in early 2022.

GoodLeap

Top 10 Fintech Companies Of January 2024 (15)

Valuation

$12 billion

Headquarters

Roseville, Calif.

Year Founded

2003

Top 10 Fintech Companies Of January 2024 (16)

$12 billion

Roseville, Calif.

2003

Why We Picked It

GoodLeap works in financing sustainable home improvements. Its app connects consumers with lenders and companies that install solar panels and other home improvements. GoodLeap started out financing solar panels but has since expanded its system to cover other improvements like battery storage and energy-efficient windows.

The company’s founders used to work for SolarCity before the company was bought by Tesla. In 2021, GoodLeap received a $12 billion valuation during a fundraising round. Given the soaring demand for green energy and the massive investments in the sector from the Inflation Reduction Act of 2022, it could be worth even more for future rounds.

Bolt

Top 10 Fintech Companies Of January 2024 (17)

Valuation

$11 billion

Headquarters

San Francisco

Year Founded

2014

Top 10 Fintech Companies Of January 2024 (18)

$11 billion

San Francisco

2014

Why We Picked It

Bolt is an e-commerce checkout software provider with a one-click checkout tool. Customers sign up once for an account and provide their address and payment information. From then on, they just need to enter a pin and have everything ready for future purchases. This speeds up the process and makes customers less likely to abandon an order midway through.

Bolt had a valuation of $11 billion during its last round of fundraising when it brought in $355 million. However, it has struggled and laid off about half of its workforce since then. Bolt’s market cap could be far lower than the past official valuation.

Checkout.com

Top 10 Fintech Companies Of January 2024 (19)

Valuation

$11 billion

Headquarters:

London, U.K.

Year Founded

2012

Top 10 Fintech Companies Of January 2024 (20)

$11 billion

London, U.K.

2012

Why We Picked It

Based in London, Checkout.com is a payment processing company. Customers can use the company’s APIs to accept payments through their website or app. Customers can also process payments directly through payment pages and links hosted by Checkout.com. Its global reach means that it accepts processing payments in over 150 currencies. In addition, the platform provides fraud management and data insights on collected payments.

Like many fintech companies, Checkout.com is less valuable than it used to be. It reevaluated internally and determined its current valuation is $11 billion, a significant drop from the $40 billion it was estimated to be worth in 2021.

*Private company valuations are estimates based in part on the firm’s last private capital raise. All valuation figures are approximate, sourced from company information and major media reporting.

What Is Fintech?

Fintech is one of those jargon words beloved in the worlds of tech and finance. Short for financial technology, fintech is nothing more than the application of technology to improve financial services. Anyone who’s tried to resolve issues with a big bank or another large financial firm knows that the industry could use the help.

Tech companies have been disrupting and revolutionizing every corner of the economy for decades, but financial services were long considered a stubborn holdout to this trend. But over recent years, tech startups have made serious inroads, applying software, analytics and data to build online platforms and apps with features that improve—or even replace—conventional financial services.

As an industry, fintech covers a wide range of solutions that cater to diverse financial needs, including but not limited to online payments, peer-to-peer lending, digital wallets, crowdfunding, robo-advisors, blockchain and mobile banking.

How Does Fintech Work?

Fintech companies endeavor to provide more efficient, cost-effective, and accessible financial services to individuals and businesses. It is disrupting the financial industry by fostering competition and challenging established players, encouraging them to adapt and innovate.

A big element of fintech’s popularity is its mission to reach underserved populations, such as those without access to traditional banking services, enabling financial inclusion and empowerment.

But fintech also faces big challenges in areas of law, compliance, security and consumer protection. When protecting the details and security of consumers’ intimate financial lives is at stake, governments and large financial institutions can find plenty of issues with the tech industry’s desire to move fast and break things.

How Are Private Companies Valued?

Valuing private tech startups is a difficult task as they aren’t subject to the same transparency and financial disclosure regulations publicly traded companies are. The valuations of the companies on our listing above depend on the unique contours of fintech.

Funding history and potential dilution effects on existing shareholders are key considerations in private company valuations. A fintech’s past funding rounds and the amount of equity already issued strongly influence its total current valuation.

Another factor is the private company’s total market opportunity. Evaluating the size and potential of a fintech’s target market is crucial, as they are aiming to disrupt large existing markets—or alternatively create markets for financial services that did not exist before. Assessing a firm’s total addressable market (TAM) helps gauge a fintech’s potential future revenue.

Comparable transactions provide benchmarks for fintech valuations. Analyzing recent acquisitions or funding rounds of similar companies helps investors understand a fintech’s relative value and its potential for growth.

Finally, a fintech’s present user base and traction are indicators of potential success. Active user numbers, customer engagement and adoption rates can demonstrate a company’s ability to attract and retain customers.

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I'm an expert in fintech with a deep understanding of the industry's trends, key players, and valuation metrics. My expertise is backed by a comprehensive knowledge of the fintech landscape, including major companies, their services, and the factors influencing their valuations.

Now, let's delve into the information provided in the article about the biggest fintech companies of 2024:

  1. Ant Group

    • Valuation: $78.5 billion
    • Headquarters: Hangzhou, China
    • Year Founded: 2004
    • Notable: Ant Group runs Alipay, the largest payment network in China, with over one billion users globally. Despite regulatory issues, it remains the world's most valuable private fintech company.
  2. Stripe, Inc.

    • Valuation: $50 billion
    • Headquarters: San Francisco and Dublin, Ireland
    • Year Founded: 2009
    • Notable: Stripe provides payment processing software for businesses, processing over $817 billion in transactions in 2022. It raised $6.5 billion in 2023, making it the most valuable fintech company in the U.S.
  3. Revolut

    • Valuation: $33 billion
    • Headquarters: London, U.K.
    • Year Founded: 2015
    • Notable: Europe's most valuable fintech company, offering mobile banking, debit cards, international transfers, currency exchange, and commission-free trading. It raised $33 billion in its last funding round.
  4. Chime Financial, Inc.

    • Valuation: $25 billion
    • Headquarters: San Francisco
    • Year Founded: 2012
    • Notable: Provides banking services, including free checking and high-yield savings accounts. With over 14 million customers, Chime faced challenges, delaying its IPO and laying off employees.
  5. Rapyd

    • Valuation: $15 billion
    • Headquarters: London, U.K.
    • Year Founded: 2016
    • Notable: Specializes in global payment services, expanding by acquiring companies in Asia and Europe. Its valuation increased sixfold to $15 billion in early 2022.
  6. Plaid

    • Valuation: $13.4 billion
    • Headquarters: San Francisco
    • Year Founded: 2013
    • Notable: Acts as an intermediary between financial accounts and apps, connecting users' accounts securely. Valued at $13.4 billion in 2021, considered a merger with Visa but continues as an independent company.
  7. Brex, Inc.

    • Valuation: $12.3 billion
    • Headquarters: San Francisco
    • Year Founded: 2017
    • Notable: Provides business banking services, including corporate credit cards and expense management. Raised $300 million in early 2022, valuing the company at $12.3 billion.
  8. GoodLeap

    • Valuation: $12 billion
    • Headquarters: Roseville, Calif.
    • Year Founded: 2003
    • Notable: Focuses on financing sustainable home improvements, expanding beyond solar panels. Valued at $12 billion in 2021, anticipating further growth with increased demand for green energy.
  9. Bolt

    • Valuation: $11 billion
    • Headquarters: San Francisco
    • Year Founded: 2014
    • Notable: Provides e-commerce checkout software with a one-click checkout tool. Valued at $11 billion, but faced challenges, leading to layoffs.
  10. Checkout.com

    • Valuation: $11 billion
    • Headquarters: London, U.K.
    • Year Founded: 2012
    • Notable: Payment processing company with global reach, accepting payments in over 150 currencies. Reevaluated internally, marking a significant drop from its 2021 estimated worth of $40 billion.

This overview highlights the diverse services and challenges faced by these fintech giants, showcasing the dynamic nature of the industry. If you have any specific questions or need more details on any of these companies, feel free to ask.

Top 10 Fintech Companies Of January 2024 (2024)

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