15 Fastest Growing Fintech Companies In 2023

Published on August 17, 2023 at 12:42 pm by Aliza Zia in Industries, Lists, News

In this article, we will talk about the 15 fastest-growing fintech companies in 2023. We will also discuss the emerging trends in the fintech industry and the recent decline in global funding. If you want to skip our detailed analysis, head straight to 5 Fastest Growing Fintech Companies In 2023.

Recent Trends In Fintech Industry

Fintech is simply the use of technology and software in the financial sector. Fintech enables consumers to efficiently deal with their finances while bypassing the hassle of traditional banks. The emergence of the fintech industry bears immense significance as it can revolutionize financial services delivery globally. According to a report by EMR, the global fintech market was valued at $194.1 billion in 2022 and has been estimated to grow to $492.81 billion by 2028 at a compounded annual growth rate of 16.8%.

The advancement of information technology globally has expanded the customer base for fintech. The pandemic catalyzed the widespread adoption of fintech. According to a report by BCG, in 2019, fintech received 20% of all global venture capital outlays, and by 2021 it represented 9% of all global financial service valuations. For almost a decade, fintech has received billions of dollars in funding; however, it started plummeting in 2022.

Rising inflation and interest rates, growing geopolitical tensions, and supply chain problems have all contributed to this decline in funding. According to a report by CB Insights, global fintech funding dropped 46%, and deals fell 8% year over year from 2021 to 2022. During this time, there was also a drop in the number of fintech unicorns born. Therefore, 2022 was not the best year for fintech companies overall. This decline in global funding has continued in 2023 as well. According to another report by CB Insights, a 48% decline has been recorded in global fintech funding in 2023. Even the most valuable fintech companies in the world were not safe from the impact of this massive decline.

Many fintech companies have shifted their focus towards unit economics to recover from the downturn. The companies aim to emerge stronger on the other side of this slow funding era by strengthening the business’s fundamentals, like innovation and recurring customers. On July 19, Reuters reported that fintech companies have started to impose stricter lending standards amid the current funding environment easing their way to debt financing from Wall Street.

On August 7, Reuters reported that PayPal Holdings, Inc. (NASDAQ:PYPL) launched a US dollar stablecoin making it the first major fintech company to conduct transactions in a digital currency. Stablecoins have a monetary value dependent on a stable asset which makes them relatively immune to drastic changes in their worth. Stablecoins are used mainly to buy other cryptocurrencies. PayPal Holdings, Inc. (NASDAQ:PYPL) enables users to redeem their stablecoins for US dollars at any given time. As of August 17, PayPal Holdings, Inc. (NASDAQ:PYPL) is worth $64 billion on the open market.

Regional Insights And Noteworthy Companies

According to the report by BCG, Asia Pacific is on track to be the largest fintech market by 2030 at a projected CAGR of 27%. The APAC region has a massive underbanked population and growing attention toward tech-savvy solutions, making the perfect ingredients for rapid growth. China and India are expected to lead this transition. North America currently is the most dominant in the global fintech market, and the US is estimated to contribute significantly to total global fintech revenue through 2030. Europe also has immense potential and is expected to grow rapidly in terms of fintech. The BCG report estimates that the US and Europe will have a revenue CAGR of 17% and 21%, respectively. Moreover, Latin America and Africa are expected to be the fastest-growing regions in fintech by 2030. These regions have massive underbanked populations and are moving towards digitization, posing a great opportunity for fintech to grow. These numbers indicate that despite the current turbulent landscape the fintech industry has a lot of potential to grow.

On June 28, Reuters reported that the payment giant Visa Inc. (NYSE:V) is acquiring a Brazilian fintech startup named Pismo for $1 billion, marking the largest fintech exit in that region since Nubank (NYSE:NU) went public. Pismo will continue with its current management team under Visa Inc. (NYSE:V).

There are many fintech companies growing at a noteworthy rate in 2023. Some of the most prominent companies that have stood strong during this time include Nubank (NYSE:NU), LM Funding America, Inc. (NASDAQ:LMFA), and American Express Company (NYSE:AXP). These companies have managed to not only survive but grow during the current uncertain situation faced by the fintech industry globally.

Nubank (NYSE:NU) is one of the most prominent fintech companies in the world. It is a giant in the Latin American fintech market. It has become the fourth-largest financial institution in Brazil. Nubank (NYSE:NU) has been rapidly gaining customers and is growing quickly. The blooming number of customers has contributed greatly to the growth of the company. Nubank (NYSE:NU) is among the most promising fintech stocks to buy. On August 15, the company reported earnings for the fiscal second quarter of 2023. Nubank (NYSE:NU) reported earnings per share of $0.05 and beat EPS estimates by $0.02. The company’s revenue for the quarter amounted to $1.87 billion, up 61.43% year over year, and ahead of Wall Street estimates by $93.34 million.

Now that we have gained some insights into the global fintech industry, let’s take a look at some of the fastest growing fintech companies in 2023.

Photo by Tech Daily on Unsplash

Our Methodology

To make our list of the fastest growing fintech companies in 2023, we sifted through more than 60 top fintech companies based on their market cap. We then individually looked up both their trailing 12-month and 3-year revenue growth rates. Only companies with more than a 10% trailing 12-month revenue growth rate have been included in this list. The companies have been arranged in ascending order of their trailing 12-month revenue growth rates.

15 Fastest Growing Fintech Companies In 2023

15. American Express Company (NYSE:AXP)

3-Year Revenue Growth: 15.66%

Trailing 12-Month Revenue Growth: 10.52%

American Express Company (NYSE:AXP) is one of the fastest-growing fintech companies in 2023. It is one of the pioneer companies in fintech and has been constantly introducing innovations. American Express Company (NYSE:AXP) is an excellent example of a traditional company that successfully embraced fintech. The company has evolved over time to better cater to the needs and demands of its customers. This adaptability is one of the main contributors to the fast growth rates of the company.

14. Medallion Financial Corp. (NASDAQ:MFIN)

3-Year Revenue Growth: 13.31%

Trailing 12-Month Revenue Growth: 10.65%

Medallion Financial Corp. (NASDAQ:MFIN) was incorporated in 1995 and has its headquarters in New York City. Medallion Financial Corp. (NASDAQ:MFIN) primarily provides loans to its customers for personal as well as commercial purchases.

Nubank (NYSE:NU), PayPal Holdings, Inc. (NASDAQ:PYPL),Visa Inc. (NYSE:V), and SoFi Technologies, Inc. (NASDAQ:SOFI) are some of the leading names in the fintech industry.

13. CPI Card Group Inc. (NASDAQ:PMTS)

3-Year Revenue Growth: 18.90%

Trailing 12-Month Revenue Growth: 16.59%

CPI Card Group Inc. (NASDAQ:PMTS) provides a range of credit, debit, and prepaid card solutions. It is one of the fastest-growing fintech companies in 2023. CPI Card Group Inc. (NASDAQ:PMTS) has more than 20 years of experience and is one of the leading companies providing payment technology solutions.

12. FinVolution Group (NYSE:FINV)

3-Year Revenue Growth: 20.40%

Trailing 12-Month Revenue Growth: 20.31%

FinVolution Group (NYSE:FINV) has strong brand recognition in China. It primarily connects underserved borrowers with financial institutions. FinVolution Group (NYSE:FINV) is one of the fastest-growing fintech companies in 2023.

11. Oportun Financial Corporation (NASDAQ:OPRT)

3-Year Revenue Growth: 16.68%

Trailing 12-Month Revenue Growth: 20.86%

Oportun Financial Corporation (NASDAQ:OPRT) aims to provide inclusive financial services to people from all backgrounds. Oportun Financial Corporation (NASDAQ:OPRT) is a rapidly growing fintech company. It relies on a data-driven understanding of its customers.

10. Block, Inc. (NYSE:SQ)

3-Year Revenue Growth: 49.57%

Trailing 12-Month Revenue Growth: 20.89%

Block, Inc. (NYSE:SQ) is one of the biggest fintech companies in the world. It is an American financial company founded in 2009. One of the main services Block, Inc. (NYSE:SQ) provides, enables small businesses to accept credit card payments from their customers.

9. Jianpu Technology Inc. (NYSE:JT)

3-Year Revenue Growth: 4.76%

Trailing 12-Month Revenue Growth: 23.58%

Jianpu Technology Inc. (NYSE:JT) is one of the fastest-growing fintech companies in 2023. Jianpu Technology Inc. (NYSE:JT) provides an open platform for discovering and recommending financial products.

For investors looking to enter the fintech space, some stocks to consider include Nubank (NYSE:NU), PayPal Holdings, Inc. (NASDAQ:PYPL),Visa Inc. (NYSE:V), and SoFi Technologies, Inc. (NASDAQ:SOFI).

8. Robinhood Markets, Inc. (NASDAQ:HOOD)

3-Year Revenue Growth: 69.77%

Trailing 12-Month Revenue Growth: 24.01%

Robinhood Markets, Inc. (NASDAQ:HOOD) is an American financial company headquartered in California. The company offers commission-free trading for stocks, ETFs and crypto. It also enables users to have individual retirement accounts that they can use through the mobile app. Robinhood Markets, Inc. (NASDAQ:HOOD) is one of the best fintech stocks to buy at a discount.

7. NerdWallet, Inc. (NASDAQ:NRDS)

3-Year Revenue Growth: 33.15%

Trailing 12-Month Revenue Growth: 32.10%

NerdWallet, Inc. (NASDAQ:NRDS) is one of the fastest-growing fintech companies in 2023. It was founded by Tim Chen and Jacob Gibson in 2009. The company aims to nurture confident financial planning. NerdWallet, Inc. (NASDAQ:NRDS) offers financial services including loans, insurance, and credit card services.

6. FirstCash, Inc. (NASDAQ:FCFS)

3-Year Revenue Growth: 17.05%

Trailing 12-Month Revenue Growth: 32.86%

FirstCash, Inc. (NASDAQ:FCFS) offers customers loans, credit, and check cashing services. It has its headquarters in Texas. FirstCash, Inc. (NASDAQ:FCFS) is a leading name in international pawn stores.

Click to continue reading and see the 5 Fastest Growing Fintech Companies In 2023.

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Published on June 23, 2025 at by Inan Dogan, PhD

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15 Fastest Growing Fintech Companies In 2023

Published on August 17, 2023 at 12:42 pm by Aliza Zia in Industries, Lists, News

Recent Trends In Fintech Industry

Regional Insights And Noteworthy Companies

15 Fastest Growing Fintech Companies In 2023

15. American Express Company (NYSE:AXP)

14. Medallion Financial Corp. (NASDAQ:MFIN)

13. CPI Card Group Inc. (NASDAQ:PMTS)

12. FinVolution Group (NYSE:FINV)

11. Oportun Financial Corporation (NASDAQ:OPRT)

10. Block, Inc. (NYSE:SQ)

9. Jianpu Technology Inc. (NYSE:JT)

8. Robinhood Markets, Inc. (NASDAQ:HOOD)

7. NerdWallet, Inc. (NASDAQ:NRDS)

6. FirstCash, Inc. (NASDAQ:FCFS)

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Here’s why this is a deal you can’t afford to pass up:

A New Dawn is Coming to U.S. Stocks

Published on June 13, 2025 at by Insider Monkey Staff

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15 Fastest Growing Fintech Companies In 2023

Published on August 17, 2023 at 12:42 pm by Aliza Zia in Industries, Lists, News

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Recent Trends In Fintech Industry

Regional Insights And Noteworthy Companies

15 Fastest Growing Fintech Companies In 2023

15. American Express Company (NYSE:AXP)

14. Medallion Financial Corp. (NASDAQ:MFIN)

13. CPI Card Group Inc. (NASDAQ:PMTS)

12. FinVolution Group (NYSE:FINV)

11. Oportun Financial Corporation (NASDAQ:OPRT)

10. Block, Inc. (NYSE:SQ)

9. Jianpu Technology Inc. (NYSE:JT)

8. Robinhood Markets, Inc. (NASDAQ:HOOD)

7. NerdWallet, Inc. (NASDAQ:NRDS)

6. FirstCash, Inc. (NASDAQ:FCFS)

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AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Here’s why this is a deal you can’t afford to pass up:

A New Dawn is Coming to U.S. Stocks

Published on June 13, 2025 at by Insider Monkey Staff