Fintech is a booming industry that’s on everyone’s mind, especially investors. According to CB Insights, the space has raised $13.4 billion in the first quarter of 2021. Meanwhile, San Francisco-based stock trading app Robinhood recently filed for IPO and demand for shares has some believing the company’s valuation could approach $40 billion.
The explosion of fintech companies and startups isn’t surprising. As the tech savvy millennial generation has aged, banking and financial options evolved, too, and once rare perks like mobile banking became standard, forcing brick-and-mortar institutions to become tech-enabled.
But banks aren’t the only financial institutions that have made tech-driven changes. Entire markets — from digital loans and mobile stock services to e-commerce payment platforms and digital currency exchanges — are rooted in digital financial access.
Payments companies continue to be some of the most highly valued businesses in fintech. They had notable exits in 2019, including Visa’s pending $5.3 billion acquisition of Plaid and the IPO of Bill.com, a $4 billion (market value) business-to-business payment processor that has doubled in value since it went public in December 2019. Last year, payments startups attracted a gusher of funding, taking in $15 billion globally, a 20% jump over 2018 and more than one quarter of all fintech funding, according to Accenture.
Nine payments companies made our Fintech 50 list this year. They range from a San Francisco startup that lets businesses keep a greater share of the processing fees that merchants pay to a Boston venture that provides restaurants with credit card readers, reservation software and loans of up to $250,000.
Here are the payments companies that made the Forbes Fintech 50 in 2022:
TOP FINTECH COMPANIES 2022
Clyde
Digit
Flywire
IHS Markit Digital
MANTL
Remitly
Riskified
Spring Labs
Robinhood
Chime
Affirm
Tala
JPMorgan Chase
Pitchbook
Avant
Braintree
Morningstar
Acorns
Gravity Payments
Brex
Varo Money
Blend
TrueAccord
eDataPay
TOP FINTECH COMPANIES 2024:
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NAMECATEGORIESFUNDINGHEADQUARTERSAddeparWall Street & Enterprise500 MMountain View, California, United StatesAlloyWall Street & Enterprise210 MNew York, New York, United StatesArta FinanceInvesting92 MMountain View, California, United StatesAt-BayInsurance292 MSan Francisco, California, United StatesAtomicInvesting25 MNew York, New York, United StatesCandexPayments85 MNew York, New York, United StatesCapitalizeInvesting15 MNew York, New York, United StatesCarry1stPayments58 MCape Town, South AfricaChainalysisBlockchain & Cryptocurrencies535 MNew York, New York, United StatesChimePersonal Finance2.3 BSan Francisco, California, United StatesCoalitionInsurance770 MSan Francisco, California, United StatesColumnBusiness to Business Banking50 MSan Francisco, California, United StatesDataSnipperWall Street & Enterprise200 MAmsterdam, NetherlandsEsusuPersonal Finance145 MNew York, New York, United StatesEthosInsurance400 MAustin, Texas, United StatesFireblocksBlockchain & Cryptocurrencies1 BNew York, New York, United StatesFoundBusiness to Business Banking73 MSan Francisco, California, United StatesGauntletBlockchain & Cryptocurrencies45 MNew York, New York, United StatesGlossGeniusPayments70 MNew York, New York, United StatesGoodLeapBusiness to Business Banking1.6 BRoseville, California, United StatesGroundfloorReal estate34 MAtlanta, Georgia, United StatesiCapitalInvesting765 MNew York, New York, United StatesKin InsuranceInsurance264 MChicago, Illinois, United StatesKudos TechnologiesPersonal Finance17 MLos Angeles, California, United StatesLead BankBusiness to Business Banking100 MKansas City, Missouri, United StatesMelioPayments506 MNew York, New York, United StatesMercuryBusiness to Business Banking163 MSan Francisco, California, United StatesMergeWall Street & Enterprise75 MSan Francisco, California, United StatesMiddeskWall Street & Enterprise80 MSan Francisco, California, United StatesMXPayments475 MLehi, Utah, United StatesNavanBusiness to Business Banking1.55 BPalo Alto, California, United StatesNext InsuranceInsurance1.1 BPalo Alto, California, United StatesNiumPayments288 MSan Francisco, California, United StatesPersonaWall Street & Enterprise218 MSan Francisco, California, United StatesPlaidPayments735 MSan Francisco, California, United StatesPropelPersonal Finance90 MBrooklyn, New York, United StatesPulleyWall Street & Enterprise50 MSan Francisco, California, United StatesRampBusiness to Business Banking1.67 BNew York, New York, United StatesSentiLinkWall Street & Enterprise85 MSan Francisco, California, United StatesStripePayments8.9 BSan Francisco, California, United StatesSunbitPersonal Finance256 MLos Angeles, California, United StatesSureInsurance123 MSanta Monica, California, United StatesTabaPayPayments2 MMountain view, California, United StatesTalaPersonal Finance350 MSanta Monica, California, United StatesTrumidWall Street & Enterprise650 MNew York, New York, United StatesUnitBusiness to Business Banking170 MNew York, New York, United StatesValonReal estate125 MNew York, New York, United StatesVestwellInvesting275 MNew York, New York, United StatesWealthfrontInvesting230 MPalo Alto, California, United StatesZest AIBusiness to Business Banking120 MBurbank, California, United StateseDataPay
Today In: eData Fintech
Small businesses have traditionally had to use different vendors to process credit card transactions in-store and online, and a separate tool if they want to analyze their sales.
eDataPay for example bundles these services into one product for a monthly subscription rate that it says ends up costing users 30% to 40% less than traditional processors’ per-transaction charges.
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