Fintech industry landscape in 2024: 100 most funding companies

Fintech landscape leverage advanced technology to provide financial products to businesses and customers. For instance, AI stats suggest that AI solutions’ value to the financial services industry will be exceeding $1 billion by 2035. Doing so, fintech companies deliver variety of products and services, attractive rates and fees, ease of use and access as well as better service quality, increasing the growth of fintech companies.

We created and categorized the list of most funded fintech companies.

What is fintech?

Fintech is short for financial technology that includes all new-age technologies in financial services. Most common example technologies are

• Crowdfunding platforms
• Blockchain & Cryptocurrency
• Mobile payment platforms
• Stock trading & advising apps
• Innovative and personalized insurance products via AI and analytics
• Credit-lending platforms for real estate or other spendings.

Top 100 fintech companies

This list contains top 100 most funded Fintech companies in the world. Fintech used to be referred to as the technology for the back-end systems of banks or other financial institutions. However, its scope got extended through years and it started to also include technologies that ease financial transactions in other industries. Therefore we included companies from industries such as insurance, real estate, e-commerce, cybersecurity & food service.

Breakdown by application

Payment processing platforms, insurance products and digital banking are the most common applications in fintech landscape. When we segmented applications by activities, here are top fintech activities:

• Digital payment that enables fast and safe transactions (29%)
• Digital lending (25%)
• Insurance  (14%)
• Digital banking (12%)
• Cash and asset management (11%)
• Robo Advisors & Investment management (Stocks, Currency & Cryptocurrency) (5%)
• Security & Fraud Detection (3%)
• Automasion (e.g. accounts payable automation) (1%)

Breakdown by size

As a first distinction between the 100 Fintech companies, we breakdown companies by number of people employed. Our analysis highlights that only 22% of fintect companies are SMEs where number of employees are less than 200. Rest of the companies (78%) in the list are considered large enterprises, most of them (42%) hire between 201 and 500 people.

Breakdown by funding

Fintech is an emerging area for VCs. 65% of companies in the list raised over $500M.

Interest in fintech companies continues. It is estimated¹ that investments in fintech are expected to rise to $310B in 2022 from $128B in 2018,  with a CAGR of 25%.

Breakdown by geography

These most funded 100 fintechs are based in 18 countries, with more than half (56%) located in North America, 27% in Europe and 10% in Asia. United States is leading in region that has the highest number of companies with 54 fintechs. United States is followed by United Kingdom (17%) and India (5%).

Breakdown by customer type

As seen on the graph, most (67%) fintech companies promote their products & services to enterprises. These fintechs enable different activities such as automation, transaction, lending and payroll management. On the other hand, B2C companies more likely to be digital banks that enable money transaction & lending.

Further reading

We have already started examining technologies in finance sector in different articles, feel free to read them:

• 15+ AI Applications / Use Cases / Examples in Finance
• Top 15 RPA Use Cases in Banking
• Finance Automation: In-Depth Guide for Businesses

Sources:

1 Toptal

CBInsights

Crunchbase