Top 10 Fintech Companies Of March 2024 (2024)

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 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.

Based in London, Revolut is Europe’s most valuable fintech company. It provides mobile banking services, debit cards (Prepaid debit cards in the U.S.), international transfers and currency exchange, as well as investments. Revolut’s investment app offers no fee trading of stocks and cryptocurrencies (not available within the U.S.). 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 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 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 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 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 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 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.

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.