In this article, we discuss the 5 Fastest-Growing Fintech Companies. If you want to read our detailed analysis of these companies and the growth and future prospects of the fintech industry, go directly to 15 Fastest-Growing Fintech Companies.
5. Lufax Holding Ltd (NYSE:LU)
Market Cap: $40 billion
Lufax (Shanghai Lujiazui International Financial Asset Exchange Co, Ltd) is an online Internet finance marketplace headquartered in Shanghai, China. The company ranks 5th on our list of 15 fastest-growing fintech companies. It was founded in 2011 to provide personal financial services, including wealth creation and credit facilitation.
Lufax aims to integrate offline and online resources using technology to promote financial inclusion. It also assists the digitization of financial institutions.
4. Adyen N.V. (AMS: ADYEY)
Market Cap: $80 billion
Ranking 4th on the list of 15 fastest-growing fintech companies, Adyen is a Dutch e-payments company that helps businesses conduct point-of-sale payments. It also allows businesses receive payments for their services over the internet. Their technology platform serves as a payment gateway, a payment service provider, and offers risk management.
It was founded in 2006 by Arnout Schuijiff, and Pieter Van Der Does. The goal of the company is to simplify the process of making online payments. Adyen has its headquarters in Amsterdam, Netherlands. In 2020, Adyen recorded a revenue increase of 22.29% despite the pandemic’s impact on the economy.
3. Ant Financial (Private)
Valuation: $108 billion
Ant Financial, now Ant Group, was established by Jack Ma in 2014 to foster digital payments and internet transactions worldwide.
The group currently owns Alipay, the world’s largest digital payment platform. In 2019, Ant Group acquired the British international money transfer services provider WorldFirst for $700 million. Their revenue is expected to double by the end of 2022 due to the tremendous growth it has recorded in the last few years.
2. STRIPE (Private)
Valuation: $115 billion
Stripe is a Fintech company based in San Francisco, California, and Dublin. It was established in 2010 by Patrick and John Collison to offer payment processing software and application programming interfaces (APIs) for e-commerce websites and mobile apps (Read more about Collison brothers in our list of Top 5 Youngest Tech Billionaires). Its latest funding, $600 million, was generated by a number of its previous investors including General Catalyst, Andreessen Horowitz, and GV
The company has acquired Kickoff, a chat and task management app, and recently added Paystack, a Nigerian e-payment platform, to its portfolio. The company also launched Stripe treasury, a platform that allows users send, receive and store funds easily.
1. Paypal Holdings Inc. (NASDAQ:PYPL)
Market Cap: $340 billion
Topping the list of 15 fastest-growing fintech companies is PayPal, the company that revolutionized the way people transfer money. Founded by Elon Musk and Peter Thiel in 1998, PayPal has made over 20 acquisitions to date. It currently operates in over 202 markets around the world. PayPal’s services allow users to send money, pay for services, and even make donations over the internet without being in direct contact with any merchant.
It is one of the most popular payment platforms in the world.
Polen Capital Management, in their Q4 investor letter, stated that PayPal Inc., was one of the major contributors to their fund.
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