In order to enhance business relations, most firms and corporations have resorted to use online platforms to better enhance their businesses. This has invariably helped business-minded entrepreneurs to avoid bureaucratic paperworks and save time.
There is no doubt that the FinTech industry is a force to be reckoned with in modern economy. With the combination of technology and finances, FinTech has touched several aspects of digitalization and covers areas of financial transactions such as payments, credit and loan facilities, investments, and insurance.
The FinTech industry is a fast growing one with billions of dollars been generated every year. This is coming after a backdrop of the slash in price of cryptocurrencies.
Due to how lucrative this industry has become, a lot of entrepreneurs are delving into this field as a means of investment not minding the number of prominent FinTech companies like PayPal and Alibaba.
So in no particular order, here are the top ten (10) fastest growing FinTech Companies around the globe.
The company was launched in 2011 as a payment processing service. Recently, it included new products such as credit card issuing technology, point-of0sale software and a billing platform for subscription businesses. It provides technology to prominent firms like Microsoft, Spotify, Amazon etc. With a notable number of users numbering in millions, the FinTech company is worth about $22 billion.
Ant Financial is an offshoot of the China-based FInTech corporation, Alibaba. Launched in 2004, Ant Financial is reportedly the world’s leading Third Party payment platform as at today and is estimated to worth over $78 billion
Plaid was established in 2013 as a software company with the aim of connecting its users’ bank account with payment apps. With this, the company also ensures that the authentication process is fast to enable users do easy and quick banking. It is believed to be affiliated to more than 10,000 banks and have a net worth of about $2.8 billion
This startup FinTech company was found in 2015 with the aim of providing micro investments opportunities in the stock market with low services fees for its consumers through simple means. The company has continued to grow amidst the competition in the FInTech industry with its astute performance in robo-advising with an App that simplifies investment.
The US-based company is an online platform that offers lending services with low interests and services. Today, the company is worth over $2 billion and has competition from other FinTech companies such as SoFi, Prosper and Bynk.
This company was established in 2006 and is known for its provision of software. The New Zealand Company has millions of subscribers who use easy-to-use accounting software for small business.
The notable Dutch FinTech company has continued to grow year by year with its focus being a platform for online payment around the globe. Established in 2006, the platform has a list of notorious clienteles which include Facebook, Netflix, Uber, Spotify etc.
Established in 2013, Oscar is a FinTech health company that provides more healthcare options to its users. Majorly operating in the US, the company is estimated to worth about $3 billion with some of these cash been raised from Alphabet and Founders Fund amongst others.
With a net worth of over $2 billion, Zenefits is believed to be a human resources FinTech company which provides cloud-based human capital management services using Apps and other software. The aim is to minimize paperwork and enthrone technology-based means of monitoring payrolls, allowances and other related operations.
Originally created in 2011 as an online lending service for students, the FinTech company has explored other divisions in the FinTech industry such as robo-advising and insurance. It is estimated to worth about $4.5billion