grid-line

78 Growing Fintech Companies & Startups (2022)

by Josh Howarth
July 26, 2022

You may also like:

The financial technology (fintech) sector is disrupting the way traditional financial institutions operate.

In fact, 88% of these institutions believe they will lose a part of their business to standalone fintech companies over the next 5 years. 

With that, here's our list of the top fintech companies and startups to keep an eye on.

1. Gohenry

5-year search growth: 1260%

Search growth status: Exploding

Year founded: 2012

Location: London, UK

Funding: $66.2M (Series Unknown)

What they do: Gohenry is a money management platform that teaches young people how to handle their finances. Children can physically handle their finances with debit cards that are prepaid and controlled by parents. The company reports there are over 1,000,000 paying customers using Gohenry.

2. Revolut

5-year search growth: 988%

Search growth status: Exploding

Year founded: 2015

Location: London, UK

Funding: $1.7B (Secondary Market)

What they do: London-based Revolut has quickly emerged as one of the most valuable fintech startups on the planet. The company reports that they have 15 million personal customers across 35 different countries. And they've recently expanded into the US with their sights on acquiring a UK license by the beginning of 2022.

3. M1 Finance

5-year search growth: 1000%

Search growth status: Peaked

Year founded: 2015

Location: Chicago, Illinois

Funding: $323.2M (Series E)

What they do: M1 Finance is an app-based money management app. Its users can invest in ETF and custom stock portfolios. It also lets people borrow low-cost of line credit and go complete banking services, digitally. The app generates around $25M per year in revenue and has over 35,000 5-star reviews on Google Play and App Store.

4. treasuryspring

5-year search growth: 0%

Search growth status: Peaked

Year founded: 2016

Location: London, United Kingdom

Funding: $14.5M (Series A)

What they do: TreasurySpring operates in the wholesale money markets world. Specifically, the software is designed to minimize risk while maximizing return using fixed-term funds (FTFs). The startup currently offers sovereign, financial, and corporate FTFs.

5. figure

5-year search growth: 325%

Search growth status: Regular

Year founded: 2018

Location: San Francisco, California

Funding: $1.6B (Series D)

What they do: Figure is a financial service powered by blockchain for both personal and business use. The startup offers financial products related to mortgages, home equity, and personal loans for individuals. They also have features to help with asset management, cap table management, and marketplace services for institutions. A recent feature Figure added to their system in December 2021, Figure Equity Solutions, allows private organizations to obtain, oversee, and trade on the fintech platform.

6. Stockal

5-year search growth: 350%

Search growth status: Peaked

Year founded: 2016

Location: New York, New York

Funding: $14.8M (Series A)

What they do: Stockal began as a stock advisory firm to provide research to investors. The startup initially struggled to monetize. But in 2018, they shifted to a digital infrastructure company. The new goal was designed to help retail investors abroad put their money into international markets, like the US. The company currently serves India with plans to expand into the Middle East and Southeast Asia soon.

7. BharatPe

5-year search growth: 3800%

Search growth status: Peaked

Year founded: 2018

Location: New Delhi, India

Funding: $700.5M (Debt Financing)

What they do: BharatPe is an integrative payment processing platform for merchants in India.  They also offer POS systems and lines of credit. They now have over 6 million customers at a $900 million valuation.

8. Chime

5-year search growth: 742%

Search growth status: Regular

Year founded: 2013

Location: San Francisco, California

Funding: $2.3B (Series G)

What they do: Chime is a neobank that provides users with zero fee mobile banking solutions. The company is FDIC insured with a growing customer base of over 12 million.

9. Bluesheets

5-year search growth: -100%

Search growth status: Peaked

Year founded: 2020

Location: Singapore, Singapore

Funding: $5.7M (Seed)

What they do: Bluesheets is bookkeeping automation software that uses human-assisted AI to extract data, update financial ledgers, and generate reports and analytics. The goal is to eliminate accounting errors and reduce time spent on bookkeeping for in-house teams.

10. Robinhood

5-year search growth: 75%

Search growth status: Peaked

Year founded: 2013

Location: Menlo Park, California

Funding: $6.5B (Post-IPO Secondary)

What they do: Robinhood is a stock brokerage company that gives retail investors the ability to trade stocks, options, ETFs, and cryptocurrencies. Their digital platform is known for not charging commissions on trades. Robinhood went public on the NASDAQ in the summer of 2021.

11. Trueaccord

5-year search growth: 400%

Search growth status: Exploding

Year founded: 2013

Location: Lenexa, Texas

Funding: $47.1M (Series Unknown)

What they do: Trueaccord is a machine learning solution to aid in debt collection. Specifically, their "HeartBeat" algorithm is engineered to improve debt collection success rates automatically. 

12. Stripe

5-year search growth: 0%

Search growth status: Regular

Year founded: 2010

Location: San Francisco, California

Funding: $2.2B (Series Unknown)

What they do: Stripe has quickly become one of the most valuable private companies in any industry. The online payment processor is now used on 1.9 million different websites, ranging from small startups to large enterprise brands. In December 2021, Stripe acquired the application software OpenChannel in order to help them with ecosystem integrations.

13. Klarna

5-year search growth: 192%

Search growth status: Exploding

Year founded: 2005

Location: Stockholm, Sweden

Funding: $4.5B (Series Unknown)

What they do: Klarna is a payment solution for eCommerce merchants and shoppers. Like many "BNPL" solutions, Klarna offers consumers the option to checkout with an installment payments plan (typically without charging any interest or fees). Klarna has over 15 million customers and serves over 90 million shoppers with its payment solution.

14. plum fintech limited

5-year search growth: -100%

Search growth status: Peaked

Year founded: 2016

Location: London, United Kingdom

Funding: $56.2M (Series Unknown)

What they do: Plum Fintech is a mobile application for personal savings and investments. The platform offers customized investment recommendations. Currently, the startup offers a free plan and three paid plans ranging from £1 to £4.99 per month. Founder Victor Trokoudes claims Plum Fintech has over 650,000 registered users.

15. Wise

5-year search growth: -32%

Search growth status: Peaked

Year founded: 2011

Location: London, UK

Funding: $1.3B (Debt Financing)

What they do: Wise (formerly TransferWise) initially started as a money transfer service that allowed users to send money abroad without the hassle of hidden charges or high currency exchange rates. They have since grown their offering to include neobank services, like credit cards and real estate management services.

16. RecargaPay

5-year search growth: 15%

Search growth status: Regular

Year founded: 2010

Location: São Paulo, Brazil

Funding: $116.1M (Series Unknown)

What they do: RecargaPay is a seamless mobile payment wallet based on Brazil. Users without a bank account can use the app to top off their prepaid phones, pay bills, transfer money, purchase gift cards, and more. In November 2021, the company received approval from the Central Bank to provide loans to their customers now.

17. Rapyd

5-year search growth: 6200%

Search growth status: Exploding

Year founded: 2016

Location: London, UK

Funding: $770M (Secondary Market)

What they do: Rapyd is a payment gateway focused on international card payments. In other words, it allows easy localization for ecommerce sites. Well-known customers include HotMart and Ikea. 

18. Creditas

5-year search growth: 233%

Search growth status: Exploding

Year founded: 2012

Location: São Paulo, Brazil

Funding: $1.1B (Convertible Note)

What they do: Creditas is a Brazilian digital consumer loan platform. . Their credit score system uses homes and automobiles as collateral against loans. The company was originally called BankFacil before rebranding to Creditas.

19. Chipper Cash

5-year search growth: 5100%

Search growth status: Regular

Year founded: 2018

Location: San Francisco, California

Funding: $302.2M (Series C)

What they do: Chipper Cash is a cash-transfer app. They allow users to send personal payments for free (similar to Cash App and Venmo.) They primarily operate in African countries including Ghana, Kenya and Nigeria. In November 2021, the fintech company received $150 million in their next series round and earned a $2 billion valuation.

20. Nubank

5-year search growth: 188%

Search growth status: Exploding

Year founded: 2013

Location: São Paulo, Brazil

Funding: $3.9B (Post-IPO Debt)

What they do: Nubank is a neobank. They offer consumers credit cards, cashback rewards, digital bank accounts, and personal loans. They currently serve over 34 million customers in Brazil. Warren Buffett has a $500 million dollar stake in the company and Nubank is set to go public before the new year in December 2021.

21. Vivid Money

5-year search growth: 1200%

Search growth status: Exploding

Year founded: 2020

Location: Berlin, Germany

Funding: $175.4M (Series C)

What they do: Vivid Money is a financial and mobile banking application solution. Their platform includes high-interest savings accounts, multi-currency access, and reporting features. Most recently, they expanded the platform to include brokerage capabilities to let users buy or sell stocks and ETFs. They also offer lucrative cashback options to spend and store money within their platform.

22. Monzo

5-year search growth: 200%

Search growth status: Regular

Year founded: 2015

Location: London, UK

Funding: $1.1B (Series H)

What they do: Monzo is a digital bank based in the UK. Besides offering a variety of bank account and loan products, Monzo's app includes a number of features to help with budgeting and spend tracking. In December 2021, the company leaped to a $4.5 billion valuation after their recent funding round.

23. Razorpay

5-year search growth: 1100%

Search growth status: Exploding

Year founded: 2014

Location: Bangalore, India

Funding: $816.7M (Secondary Market)

What they do: Razorpay is a payment gateway suite. Their dozens of products include checkout page tools, automated vendor payment solutions, virtual accounts, and more. At a $1B valuation, Razorpay is one of a rare breed of fintech unicorns. Their newest feature, Magic Checkout, collects consumer's information during their first purchase and prefills the information during their next purchase. 

24. fundall

5-year search growth: 0%

Search growth status: Peaked 

Year founded: 2019

Location: Lagos, Nigeria

Funding: $150K (Pre-Seed)

What they do: Fundall is a fintech platform providing individuals and businesses with investment tools. The app offers spending analytics to inform users of their financial habits. According to the startup, there are over 14,000 active users currently using Fundall.

25. GoCardless

5-year search growth: 9%

Search growth status: Regular

Year founded: 2011

Location: London, UK

Funding: $529.3M (Series G)

What they do: GoCardless is a payment gateway with a focus on recurring transactions. Unlike some of their competitors, they allow recurring payments via ACH and debit cards. Prominent customers include Deloitte, DocuSign and SurveyMonkey. 

26. Varo Money

5-year search growth: 445%

Search growth status: Exploding

Year founded: 2015

Location: San Francisco, California

Funding: $992.4M (Series E)

What they do: Varo aims to become an extremely user-friendly neobank. Besides the typical perks you'd expect from a neobank (like no overdraft fees or credit checks) they also offer saving account interest rates that are significantly higher than most traditional banks.

27. Brex

5-year search growth: 191%

Search growth status: Regular

Year founded: 2017

Location: San Francisco, California

Funding: $1.5B (Series D)

What they do: Brex's online banking platform focused almost 100% on the B2B market. Specifically, high-growth startups. Products they offer include corporate credit cards, cash management accounts, and built-in analytics tools.

28. PayMongo

5-year search growth: 99X+

Search growth status: Exploding

Year founded: 2019

Location: Taguig, Philippines

Funding: $45.7M (Series B)

What they do: PayMongo is a payment processing company serving The Philippines. The company's revenue grew by 60% in 2020.

29. N26

5-year search growth: 117%

Search growth status: Regular

Year founded: 2013

Location: Berlin, Germany

Funding: $1.7B (Series E)

What they do: N26 is a popular mobile banking solution that's currently offered in 25 different markets. Services that N26 offers include international transfers, investments, and cash withdrawal/deposit at stores. N26 announced they currently serve over 7 million customers.

30. Pitchbook

5-year search growth: 34%

Search growth status: Regular

Year founded: 2007

Location: Seattle, Washington

Funding: $13.8M (Series B)

What they do: Pitchbook is a platform that aggregates and collects data for VCs. Specifically, they have data on 3 million companies, including funding rounds.

31. Dana

5-year search growth: 1900%

Search growth status: Exploding

Year founded: 2017

Location: Jakarta, Indonesia

Funding: $200M (Series Unknown)

What they do: Dana, a subsidiary of Emtek, is a digital wallet serving the Indonesian market. The company provides an e-wallet for customers to do three main tasks: send money, pay bills, and shop online. They saw an increase of 100% last year in total transactions. 

32. Ivalua

5-year search growth: -31%

Search growth status: Regular

Year founded: 2000

Location: Orsay, France

Funding: $134.4M (Private Equity)

What they do: Ivalua is an online procurement management platform. The cloud-based software offers a wide range of solutions, from risk tracking to invoice automation. They continue to expand their financial products with a new array of solutions launched last year.

33. Toast

5-year search growth: 176%

Search growth status: Exploding

Year founded: 2011

Location: Boston, Massachusetts

Funding: $902M (Series F)

What they do: Toast helps restaurants manage their finances. Toast's financial product offerings include point-of-sale systems, email marketing software and payroll management tools. Toast is preparing for an IPO in the coming months at a $20 billion valuation.

34. Coinbase

5-year search growth: 7%

Search growth status: Peaked

Year founded: 2012

Location: San Francisco, California

Funding: $549M (Secondary Market)

What they do: Coinbase is a digital currency wallet and exchange. The platform also has expanded into businesses with Coinbase Commerce. This allows businesses to accept cryptos as payment. Coinbase is another surging fintech company planning an IPO in 2021.

35. WorldRemit

5-year search growth: 39%

Search growth status: Regular

Year founded: 2010

Location: London, UK

Funding: $699.7M (Series E)

What they do: WorldRemit, also known as Zepz, is a service for transferring money internationally (and specifically sending and receiving different currencies). In other words, it’s a direct competitor to TransferWise/Wise. The startup also has a well-reviewed iPhone and Android mobile app.

36. Moneyland.ch

5-year search growth: -100%

Search growth status: Peaked

Year founded: 2013

Location: Zurich, Switzerland

Funding: Undisclosed

What they do: Moneyland.ch is designed to help people find and compare insurance policies and loan terms. Additionally, the platform also lets people request a quote from banks, insurance companies or telecom companies. Last year, the company joined Swiss Finance Startups.

37. Apurata

5-year search growth: 614%

Search growth status: Exploding

Year founded: 2016

Location: Lima, Peru

Funding: $150K (Seed)

What they do: Apurata allows users to apply for loans online. The company specifically targets the Latin American market. Apurata claims that it can issue loans up to $1,000 in just 29 minutes.

38. sporttrade

5-year search growth: -100%

Search growth status: Peaked

Year founded: 2018

Location: Camden, New Jersey

Funding: $36M (Undisclosed)

What they do: SportTrade is a sports betting and trading exchange where sports bets are traded like stocks. The platform is an unconventional take on sports betting modeled after the financial market. The company is currently backed by nine investors.

39. Uphold

5-year search growth: -100%

Search growth status: Peaked

Year founded: 2013

Location: New York, New York

Funding: $74.9M (Series C)

What they do: Uphold is a digital wallet and trading platform. It helps users trade cryptocurrencies, precious metals, national currencies, and U.S. stocks. The platform has created licensed relationships with banks and other financial institutions and uses these relationships to offer users additional financial services, such as sending and receiving remittances and flexible payments. Uphold has mediated over $4 billion in transactions to date.

40. AlphaPoint

5-year search growth: -100%

Search growth status: Peaked

Year founded: 2013

Location: New York, New York

Funding: $23.2M (Series Unknown)

What they do: AlphaPoint is a distributed ledger platform. The platform offers companies and individuals easy tokenization of their assets. Additionally, AlphaPoint also provides a full-stack exchange technology that can be used to launch and operate digital asset exchanges. The company has grown its year-over-year revenue by more than 45%. This growth has helped the company rank 34th on Inc 5000’s list of the fastest-growing companies in 2021.

41. Gravity Payments

5-year search growth: -50%

Search growth status: Peaked

Year founded: 2004

Location: Seattle, Washington

Funding: Undisclosed

What they do: Gravity Payments is famous for founder Dan Price’s policy of a $70K minimum annual salary among employees of the Seattle-based credit card processing company. On top of helping with card processing with lower fees than larger players, Gravity also helps merchants with e-commerce, POS implementation and software, mobile payments, and other transactional services.

42. Swan Bitcoin

5-year search growth: 800%

Search growth status: Peaked

Year founded: 2019

Location: Los Angeles, California

Funding: $6M (Series A)

What they do: Swan is a simple Bitcoin savings app that converts weekly, monthly, or paycheck deposits from dollars to Bitcoin. Removing many of the barriers to buying crypto that plague the industry, Swan’s aim is to simplify the purchase and storage of Bitcoin. A smooth mobile application and online wallet interface allow users to see transaction history and the growth of their Bitcoin investment. In their most recent funding round (November 2021), Swan received $6 million and has a pre-money valuation set at $90 million.

43. Freewallet

5-year search growth: 25%

Search growth status: Peaked

Year founded: 2016

Location: Tallinn, Estonia

Funding: Undisclosed

What they do: Crypto has been explosive since its entrance into mainstream finance conversations, but user experience issues still keep a large portion of folks from climbing the high barriers to entry. Freewallet's mobile-first cryptocurrency wallet safely stores over 100 different cryptos while also allowing users to purchase with a credit card inside the app’s secure exchange. Since their launch in 2016, over 3,000,000 crypto investors have signed up for Freewallet.

44. Forward Financing

5-year search growth: 172%

Search growth status: Regular

Year founded: 2012

Location: Boston, Massachusetts

Funding: $340M (Debt Financing)

What they do: One of the biggest problems small businesses face is cash flow. Especially when it comes to having operating capital available for day-to-day operations while also growing. Forward Financing’s proprietary software and account representatives work with small businesses to provide rapid, flexible solutions for accessing working capital. Since 2012, Forward Financing has provided over $1.2B in capital to over 30,000 small businesses. Inc. Magazine and the Boston Business Journal have named Forward Financing one of the fastest-growing companies in Massachusetts since 2017.

45. Hydrogen

5-year search growth: 500%

Search growth status: Peaked

Year founded: 2017

Location: Miami, Florida

Funding: Undisclosed (Series A)

What they do: Hydrogen’s unique no-code platform lets businesses create and embed white-label financial products (like branded debit or credit cards) without having to write any code. Their goal is to convert every small business from users of financial products to producers.

46. TrueLayer

5-year search growth: 4750%

Search growth status: Exploding

Year founded: 2016

Location: London, UK

Funding: $271.5M (Series E)

What they do: London-based TrueLayer is a developer-friendly fintech platform with applications that connect critical bank data, transactions, and verification inside one unified location.

TrueLayer claims that 50% of open banking traffic in Spain, Ireland, and the U.K. flows through their platform, with a 22% higher payment conversion than competitors. With offices in 5 cities worldwide, TrueLayer continues to expand rapidly.

47. Digit

5-year search growth: -50%

Search growth status: Peaked

Year founded: 2013

Location: San Francisco, California

Funding: $66.3M (Series C)

What they do: Digit is a personal finance app that streamlines budgeting, saving, bill bucketing, and long-term investments for retirement. Since 2015, Digit has helped folks save over $7B. Other nifty perks like no fees at 55K ATMs and FDIC insurance make it a powerful tool for young savers.

48. Truebill

5-year search growth: 1150%

Search growth status: Exploding

Year founded: 2015

Location: Silver Spring, Maryland

Funding: $83.9M (Series D)

What they do: It’s easy to get swamped with mountains of bills from streaming services, apps, subscriptions, and meal services. Truebill streamlines the process by clearly tracking your bills and making them easy to cancel. The company reports that 2 million customers use Truebill and have saved over $100M on unnecessary subscription costs.

49. CapWay

5-year search growth: 80%

Search growth status: Peaked

Year founded: 2017

Location: Atlanta, Georgia

Funding: $145K (Series Unknown)

What they do: In 2019 alone, over $11.7B of overdraft fees were paid in the United States. On top of that, 8 out of 10 Americans say they live paycheck to paycheck. Enter CapWay.

CapWay was created to lower the barriers to entry to the banking system and give customers pressure-free accounts with no overdraft or minimum balance fees. In addition, the CapWay app has a robust financial education program called “Phunds”, which teaches basic financial literacy.

50. CoinList

5-year search growth: 600%

Search growth status: Peaked

Year founded: 2017

Location: San Francisco, California

Funding: $119.2M (Series A)

What they do: The explosion in the popularity of crypto worldwide has led to numerous exciting fintech startups built around helping everyday people purchase, store, and utilize crypto in a user-friendly manner. CoinList is used by over 5M crypto consumers to access tokens before they list on more mainstream exchanges.

51. Nuri (formerly Bitwala)

5-year search growth: -64%

Search growth status: Peaked

Year founded: 2015

Location: Berlin, Germany

Funding: $42.4M (Series B)

What they do: Nuri is a German-specific fintech app that provides users with a full German bank account, but with the ability to invest in crypto and earn interest all in one place. Users can earn up to 5% interest annually on their Bitcoin (as of the time of writing) and also set up regular investment schedules that automatically purchase Bitcoin.

52. Ledn

5-year search growth: 775%

Search growth status: Peaked

Year founded: 2018

Location: Toronto, Canada

Funding: $103.9M (Series B)

What they do: Ledn is an innovative startup focused on providing financial services to holders of digital assets. The Toronto team are the minds behind new products like the “Bitcoin Mortgage”, which accepts a borrower's Bitcoin along with their house as collateral, in addition to standard borrowing, trading, and saving vehicles.

53. Nexo

5-year search growth: 6700%

Search growth status: Regular

Year founded: 2017

Location: London, United Kingdom

Funding: $52.5M (Debt Financing)

What they do: Another fast-growing crypto startup, Nexo has $12B under management on their app along with 32 supported crypto assets across 200 nations. Users can easily swap their favorite cryptos and manage their portfolios in one seamless place.

54. WireBarley

5-year search growth: 409%

Search growth status: Regular

Year founded: 2016

Location: Seoul, South Korea

Funding: $10M (Series B)

What they do: Remittances to family and friends in foreign countries added up to a staggering $700B in 2020, with traditional wire transfer companies eating up large chunks with their fees and middle-man position globally.

WireBarley simplifies the remittance process through their streamlined platform that operates 24/7 and sends money within a matter of hours.

55. TaxBit

5-year search growth: 1700%

Search growth status: Peaked

Year founded: 2018

Location: Draper, Utah

Funding: $235.8M (Series B)

What they do: If you ask any crypto investor about the most stressful part of being involved with crypto, they’ll most likely tell you taxes and reporting. TaxBit helps crypto users simplify troublesome accounting and tax reporting in one unified platform.

TaxBit boasts a 97.3% customer satisfaction rating and has over 5M customers as of 2022. Over 500 exchanges, NFT markets, DeFi protocols, and wallets are supported.

56. Blockfi

5-year search growth: 8900%

Search growth status: Exploding

Year founded: 2017

Location: Jersey City, New Jersey

Funding: $1.3B (Debt Financing)

What they do: Blockfi got their start offering crypto collateralized loans before it was a mainstream product for lenders. Named by Forbes to their FinTech 50 List, Blockfi has expanded into a highly successful crypto rewards credit card that offers 3.5% back on purchases paid out in crypto.

The startup now offers a crypto wallet and personalized yield products for high net worth clients.

57. Exodus

5-year search growth: 185%

Search growth status: Peaked

Year founded: 2015

Location: Nebraska City, Nebraska

Funding: $60M (Initial Coin Offering)

What they do: Exodus is one of the leading crypto wallets in the market today, with over 155 supported cryptos and a built-in exchange within the application. Exodus has been lauded by Investopedia as the “best Bitcoin Wallet for Beginners” and their application has been downloaded more than 4M times by crypto-hungry users.

58. ChargeAfter

5-year search growth: 194%

Search growth status: Regular

Year founded: 2017

Location: New York, New York

Funding: $61M (Series B)

What they do: Buy Now Pay Later (BNPL) has been all the rage in the world of FinTech and e-commerce, and ChargeAfter’s clever business model provides customers with multiple lender options by pitting BNPL offers against each other to give shoppers the best rates instantly.

85% of applications are approved, with a 45% increase in AOV and a 30% increase in sales.

59. Celsius

5-year search growth: 2366%

Search growth status: Exploding

Year founded: 2017

Location: London, United Kingdom

Funding: $864.3M (Series B)

What they do: Celsius has been one of the biggest beneficiaries worldwide of the massive crypto explosion that’s taken place in the last few years. Celsius is a complete crypto marketplace, with borrowing, saving, purchasing, and lending options.

Boasting stats like $19B in assets under management, over 1.5M users, and $842M in rewards paid out, Celsius continues to be one of the foremost crypto brands globally.

60. Thought Machine

5-year search growth: 222%

Search growth status: Exploding

Year founded: 2014

Location: London, United Kingdom

Funding: $562.8M (Series D)

What they do: Banks deliver some of the most frustrating customer experiences known to man, relying on outdated IT infrastructure that often breaks. Thought Machine provides banks with their proprietary Vault cloud-native software that can be configured on a custom basis to each bank’s needs.

Working with banks ranging from JP Morgan to ING, their software has taken off globally.

61. Founderpath

5-year search growth: 99X+

Search growth status: Exploding

Year founded: 2020

Location: Austin, Texas

Funding: $11M (Debt Financing)

What they do: Founderpath is a financing platform for bootstrapped SaaS startups. The startup allows SaaS organizations to borrow money by using their MRR as collateral for a loan. The platform has financed over 3,000 SaaS startups and currently approves approximately $1M/week in financing.

62. Ecolytiq

5-year search growth: 7500%

Search growth status: Regular

Year founded: 2020

Location: Berlin, Germany

Funding: $13.5M (Series Unknown)

What they do: Ecolytiq is a sustainable banking software startup. Specifically, the platform calculates the carbon emissions of the items that someone is buying. The startup has partnered with Visa to expand their offering to Visa card users.

63. Inyova

5-year search growth: 1900%

Search growth status: Regular

Year founded: 2017

Location: Zurich, Switzerland

Funding: $15.2M (Series Unknown)

What they do: Inyova creates and manages stock portfolios that are completely made up of companies working towards sustainable development. Over 5,000 people across Switzerland have used the platform to invest over $1M.

64. Ramp

rampcom-min.png

5-year search growth: 1800%

Search growth status: Regular

Year founded: 2019

Location: New York, NY

Funding: $1.4B (Debt Financing)

What they do: Ramp provides startups with corporate credit cards. What makes Ramp unique vs. traditional banks is the fact that they don’t require personal credit checks. Of the 5000+ startups that use Ramp, over $201M corporate dollars have been saved.

65. Greenlight

greenlight-card-min.png

5-year search growth: 1220%

Search growth status: Exploding

Year founded: 2014

Location: Atlanta, GA

Funding: $556.5M (Secondary Market)

What they do: Greenlight offers debit cards and a mobile app for kids and teens who are interested in learning more about earning, saving and investing money. Parents can tie allowance to chores or set up direct deposit, and invest in stocks and ETFs through the app as well. Kids earn 1% cash back on purchases and 2% on savings.

66. Lunar

lunar-min.png

5-year search growth: 609%

Search growth status: Exploding

Year founded: 2015

Location: Aarhus, Denmark

Funding: $448.4M (Series D)

What they do: Lunar is a digital bank that provides customers with a variety of financial services, including investments, loans, and savings accounts. Customers primarily interact with the services through the free mobile app (which has approximately 500K users to date.) Customers can choose from 3 different subscriptions, including the free “Standard” plan, and the two paid plans, “Premium” and “Pro.”

67. Step

step-banking-min.png

5-year search growth: 47%

Search growth status: Regular

Year founded: 2018

Location: Palo Alto, CA

Funding: $191.3M (Series C)

What they do: Step provides kids and teens with mobile-banking services, and helps them develop financial literacy. The app can be used by children as young as 6 years old, and customers can start building credit history through Step’s Visa Card. According to the startup, there are currently 3M+ Step users.

68. Qonto

qonto-min.png

5-year search growth: 1483%

Search growth status: Exploding

Year founded: 2016

Location: Paris, France

Funding: $709.3M (Equity Crowdfunding)

What they do: EU-based Qonto provides online banking services for small and medium-sized businesses (SMBs) as well as freelancers. Customers can try the startup’s services for free for 30 days, and then choose a subscription. Used by 250,000 businesses, the subscriptions range from €9 to €39.

69. Greenwood

greenwood-min.png

5-year search growth: 600%

Search growth status: Peaked

Year founded: 2020

Location: Atlanta, GA

Funding: $43M (Series A)

What they do: Greenwood is a digital banking service focused on serving Black and Latinx people. The services they offer includes savings and checking accounts, peer-to-peer transfers, a global ATM network and more. In addition, when customers start an account, the startup donates 5 meals to a family through Goodr.

70. Toss

toss-min.png

5-year search growth: 669%

Search growth status: Exploding

Year founded: 2011

Location: Seoul, South Korea

Funding: $844.2M (Series H)

What they do: Toss is a mobile financial service startup based in South Korea. Using the Toss app, in addition to peer-to-peer cash transfer and traditional banking features, customers can track spending and schedule payments.

71. Airwallex

airwallex-min.png

5-year search growth: 1157%

Search growth status: Exploding

Year founded: 2015

Location: Melbourne, Australia

Funding $802M (Series E)

What they do: Airwallex is a payment and banking platform for businesses. Customers can accept payments and move money domestically and internationally. Currently used by thousands of businesses across the world, the startup offers free international card transactions and company cards, as well as global accounts in 11 currencies.

72. Flutterwave

flutterwave-min.png

5-year search growth: 1480%

Search growth status: Exploding

Year founded: 2016

Location: San Francisco, CA

Funding: $474.5M (Series D)

What they do: Flutterwave is a fintech company that builds technology and infrastructure to support global merchants and payment providers. Used by 1M+ businesses, including Uber and Microsoft, customers can sell online, process payments and more. The startup accepts payments in more than 30 currencies and averages 500K+ processed payments per day.

73. Zego

zego-min.png

5-year search growth: 453%

Search growth status: Exploding

Year founded: 2016

Location: London, England

Funding: $202.2M (Series C)

What they do: Zego is a fintech startup that offers vehicle insurance for both individual drivers and fleets. The policy timelines range from 1 hour to 1 year. Since the startup’s inception in 2016, over 200,000 vehicles have been insured. Used by partners such as Uber, Zego has a Trustpilot review of 4.7 stars out of 5, with over 5K reviews.

74. Wefox

wefox-min.png

5-year search growth: 900%

Search growth status: Exploding

Year founded: 2015

Location: Berlin, Germany

Funding: $1.3B (Series D)

What they do: Wefox provides insurance to over 2M customers across five countries in Europe. The startup offers insurance across 3 areas: vehicle, private liability, and household. Given Wefox’s focus on digitizing the insurance process, customers can upload documentation related to their claim and interact with the claims team via the app.

75. Settle

settle-payment-min.png

5-year search growth: 59%

Search growth status: Regular

Year founded: 2019

Location: San Francisco, CA

Funding: $376M (Debt Financing)

What they do: Settle is a platform that helps automate B2B payments. Built specifically for founders and small business owners, customers are able to pay vendors internationally, without transactional or hidden fees. The platform is used by hundreds of brands, including Caraway and Italic.

76. Spendesk

spendesk-fr-min.png

5-year search growth: 962%

Search growth status: Exploding

Year founded: 2016

Location: Paris, France

Funding: $311.8M (Series C)

What they do: Spendesk develops software for finance teams and employees to track and monitor spending. The platform is designed to streamline the process of managing and tracking departmental spending. To date, the platform is used by 3,500 finance teams, and customers can request unlimited virtual and physical cards.

77. Petal

petalcard-min.png

5-year search growth: 850%

Search growth status: Peaked

Year founded: 2016

Location: New York, NY

Funding: $704.6M (Secondary Market)

What they do: Petal is a credit card company that offers an alternate way to own and use credit cards — based on a customer’s entire financial history, not just credit score. If customers are approved for an account, they can work to build positive credit history, and their card activity will be reported to all 3 major credit bureaus. Customers can choose from 2 Petal cards, with variable APR range from 14.49% – 30.99%.

78. Socure

socure-inc-min.png

5-year search growth: 141%

Search growth status: Exploding

Year founded: 2012

Location: Incline Village, NV

Funding: $646.9M Series E)

What they do: Socure offers customers an analytics platform that verifies the digital identity of customers. Used by over 1000 institutions, including CapitalOne and Chime, the platform helps clients identify and prevent additional fraud. Customers have reported as much as 90% decrease in manual review of customer identities.

Conclusion

We have reached the end of our list of private fintech companies to watch in 2022.

As you can see from the startups on our list, much of fintech is focused on developing innovative products designed to make things easier for customers. Along with automating tasks that would traditionally require a financial advisor.

Another common trend from this list was the number of startups creating simplified B2B payment solutions for merchants. With the eCommerce space seeing rapid growth, it's no surprise to see more companies cashing in. We expect this trend to continue as shoppers continue to migrate online for their purchases.