Below you can find the list of 5 largest fintech companies in the world. For a detailed coverage of this topic and a more comprehensive list, please visit this article.
5. Paytm
Paytm is an Indian creation, and was established just 10 years in 2020. It is an e-commerce payment system and of course, a fintech company which is currently available in 11 Indian languages. In addition to mobile recharges, you can also pay your utility bills through this app, while making bookings such as travel, events and movies while also allowing for in store payment at stores, parking, restaurants and educational institutions too. The company currently has around 7 million merchants, and revenues of over half a billion dollars.
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4. GoJek
GoJek is a ride hailing and online payment service originating in Indonesia. The company like most companies in this list was only founded in the 21st century, and is now 11 years old, having been founded in 2009. In addition to Indonesia, the company also operates in Malaysia, India, Philippines, Vietnam, Singapore and Thailand in addition to Indonesia. The company was first established to connect courier delivery and customers and provide two wheeled ride hailing services. It initially provided only four services which have now grown to over 20.
pathdoc/Shutterstock.comGojek
3. JD Digits
JD Digits is a Chinese fintech company which only employs 7 people, including its CEO Shengqiang Chen and yet, is one of the largest fintech companies in the world. JD Digits has an upcoming IPO on China’s Star Market, though this IPO has been overshadowed by the purported IPO of the number one entry in our list, which you will see later on. JD Digits is expected to raise nearly $3 billion in the IPO, and expected post IPO growth could even see it vie for the number one position in a few years.
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2. Grab
Grab is a Singaporean ride hailing company, where in addition to transportation services, the company also engages in food delivery services in addition to digital payments as well. In addition to Singapore, it operates in several other countries as well, including Malaysia, Indonesia, Cambodia, Vietnam, Thailand, Myanmar, Philippines and even in Japan. The company became the first decacorn fintech company from South East Asia, which means a startup achieving a valuation of more than $10 billion. The company was only founded 8 years ago in 2012.
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1. Ant Group
Easily topping the list of the 5 largest fintech companies in the world is Chinese company Ant Group. Known as Ant Financial before June 2020, Ant Group is considered to be by far the most valuable fintech company in the world, worth over $313 billion. The company was about to raise the world’s largest IPO in October but the move was dramatically blocked by China on the day before the IPO.
The company is an affiliate of the Alibaba Group (NYSE:BABA), and is the owner of the biggest digital payment platform in China, which has around a billion customers and over 80 million merchants, and in June 2020, the total payment volume transaction reached CNY 118 trillion, or nearly $18 trillion. In 2019, the Wall Street Journal reported that the flagship money market fund operated by the Ant Group was the biggest in the entire world, as around 588 million users of the mobile payment system established by Ant contributing to it, which is actually more than a third of the population of the world’s most populous country.
One of the controversies that Ant Group has been engaged in has been accusations that it directly or indirectly helped China’s mass surveillance program, which has been strongly denounced across the West. The company has claimed that it has no involvement in any such matters, though the controversy has still not subsided completely.
See also 10 Most Profitable Industries in America in 2020 and 15 Biggest Cloud Computing Companies in the World
