10 Best Fintech Companies & Startups You Should Know in 2023 (2023)

India is celebrating the spirit of entrepreneurship and innovation throughout its length and breadth. Even though 2022 wasn’t one of the best years for startup culture, 2023 brings new hope, especially in the fintech sector.

The last three years have seen an anomaly, and the startup ecosystem is slowly getting back on its feet. Companies are making much better relations with one another. We are also seeing diligence cycles being stretched to the maximum. As a result, investors are now getting more comfortable entering a new investment space as they are more knowledgeable and fully prepared for it.

As a Fintech startup, one must consider being innovative and sustainable in the long run. This is because one cannot control the effects of geopolitical climate that always pose some threat or an exogenous shock on the market. But even in such hard times, some fintech startups can find success.

10 Best Fintech Companies & Startups

Today, with this article's help, we aim to bring those fintech startups to the limelight they all deserve.

1. Razorpay

Market Capitalization: $7.5 billion

It is a payment gateway developed in Bangalore, India. In addition to providing a payment gateway to its customer, the company also give tons of products such as checkout page tools, automated vendor payment solutions, virtual accounts for ease, and others.

The main motive behind creating it was to make a developer-friendly API that could be easily integrated. With the implementation of Razorpay, one can quickly disburse online payments while owning a fully functional current account.

Furthermore, it is one of the first home-grown payment solutions in India that makes it possible for businesses to accept, process, and disburse payments from the same product suite. Besides this, a user can access all sorts of payment methods, such as credit cards, debit cards, net banking, UPI, and other popular wallets.

2. Stripe

10 Best Fintech Companies & Startups You Should Know in 2023 (2)

Market Capitalization: $95 billion

Stripe is another payment service provider that allows merchants to accept credit and debit card payments. It is best suited for online businesses, whether big or small.

Most features built into Stripe are primarily geared up to help online sales. It is also audited and certified as a PCI compliance level 1 service provider. As a result, it regularly goes under security scans and tests.

Moreover, putting your credit card information in the Stripe portal will encrypt the information and decrypt the same information separately. This form of encryption even makes Stripe not see any information related to a customer without them having to take extra steps and breach security. Every transaction takes place using an HTTPS network.

Many large brands such as Lyft, Amazon, Shopify, and even Pinterest use Stripe. These companies claim over 90% of personal credit card information has been processed via Stripe’s software.

3. Jar

10 Best Fintech Companies & Startups You Should Know in 2023 (3)Market Capitalization: $32 million

Jar caters to the needs of Indians who believe in gold investment. The two founders, Nishchay AG and Misbah Ashraf, have created an application that allows users to invest in gold anytime they want from their smartphones.

The company was founded in 2021 in Bengaluru. Users can quickly invest their daily savings by taking spare change from their online transactions and automatically investing it in digital gold. With the use of the Jar app, users are always saving some bit of the amount when they are making transactions through it.

The application rounds off a user's spending to the nearest ten and then invests the same amount in gold. In addition, it provides users with a fixed amount of deposits. So, users can invest a specific amount daily, monthly, and even quarterly based on their requirements.

Lastly, the gold investments done on Jar are always backed by physical gold of the same amount, and users have the freedom to choose whether they want to withdraw the gold or liquidate it at any time.

4. M1 Finance

10 Best Fintech Companies & Startups You Should Know in 2023 (4)

Market Capitalization: $1.45 billion

M1 Finance is one of the leading service providers of automated investing, including extensive portfolio customization. The company also allows borrowing and spending features on its platform.

There are more than 60 pre-built portfolios called “pies.” You can check them out to grow your portfolio or work on a new strategy from the beginning. The developers of M1 Finance target individuals who have previous experience in investing and are now looking to automate their strategies.

M1 Finance allows you to customize your strategy by adding personal preferences, risk appetite, and diversification goals. It doesn’t charge any fees for investment management or even trading. As a result, M1 Finance uses the dollars you give solely for investment and nothing else.

The company was started in 2016 in Chicago. M1 Finance initiated its work with about $1 billion in client assets. Over the past 7 years, the company has successfully added more customers and managed more than $5 billion in assets.

5. BharatPe

10 Best Fintech Companies & Startups You Should Know in 2023 (5)Market Capitalization: INR 199.23 crore

Co-founded by Ashneer Grover and Shashvat Nakrani in 2018, BharatPe is known to be a genuine Indian fintech company that pioneered the concept of Unified Payment Interface (UPI) payments and digital money lending for merchants. A single QR code allows a business to accept payments from multiple UPI applications such as PayTm, BharatPe, GooglePay, PhonePe, and more.

Over time, the company expanded its services and started providing loans to customers and small businesses across the medium. It has made a revenue of $93.33 Mn in the financial year 2021.

Besides, the company holds ownership of a peer-to-peer lending platform known as 12% Club. It also launched the Digital Gold product in 2020, giving its customers the freedom to transact 24-carat gold with 99.5 purity.

6. Klarna

10 Best Fintech Companies & Startups You Should Know in 2023 (6)

Market Capitalization: $6.7 billion

Klarna is a Sweden-based fintech company that provides financial services to its customers. Some of its significant features include making direct payments, payments for online stores, and post-purchase payments. In addition, users can take benefit of the buy now and pay later method by availing of installment payments that are spread over time according to the customer’s flexibility to make the payment.

Moreover, you can fully pay for the loans you have taken in the next 30 days with no pre-closure payment. Or even if you go with four installments, you still don’t have to pay anything extra in terms of interest.

The minimum purchase for using Klarna is $10, with no set credit limit. Users can check their individual “Purchase Power” to find out how small amount they can spend in credit to purchase. The more often you use Klarna to make payments, the larger your Purchase Power will be.

7. Cash App

10 Best Fintech Companies & Startups You Should Know in 2023 (7)Market Capitalization: $138 billion

Cash App is a peer-to-peer payment app that was developed in the US. People can easily send and receive money from friends, family, and others. The only thing lacking with it is mobile banking.

The Cash App is a more competitive peer-to-peer solution than Venmo, which provides a virtual safe place for people to put their funds. The main motive for creating Cash App was to do a one-step payment service with no extra frills. But over time, the company added a few features to cater to a much larger audience.

Cash App also added Bitcoin trading in 2018 to accelerate its revenue generation. This update allows users to buy, sell, and transfer Bitcoin to other digital wallets. This can be done without the transaction times and costs associated with the Bitcoin marketplace.

More interestingly, 76% of the total revenue Cash App accumulated in 2022 came from Bitcoin transactions. The latest addition to the roaster of features in Cash App is zero commission stock trading that can be done straight from the app.

8. Robinhood

10 Best Fintech Companies & Startups You Should Know in 2023 (8)Market Capitalization: $8.27 billion

Robinhood operates a discount brokerage that also provides commission-free trading. It has mobile and web-based applications from which users can buy and sell their stocks. Moreover, this app allows users to invest in certain types of cryptocurrencies.

The app can capture its revenue by payment for order flow. This means it routes its customer’s order through a market maker, which makes the trade happen and then compensates Robinhood for the business at a fraction of a cent for each share. The company earns a large part of its revenue from its Robinhood Gold services, fees related to its debit card, and multiple small revenue streams.

At the end of 2022, Robinhood announced that they would soon start a new segment of service known as retirement accounts. This service is now live, and anyone using Robinhood can create their own retirement account to save for the future.

9. Rapyd

10 Best Fintech Companies & Startups You Should Know in 2023 (9)

Market Capitalization: $8.75 billion

Individuals with international credit or debit cards can take significant advantage of Rapyd. This is because it allows them to localize e-commerce websites easily. As a result, for both businesses and customers, it is successfully building a bridge to reach new markets all over the globe.

With Rapyd, businesses can accept payments from international customers from over 100+ countries. It uses multiple payment methods for local transactions, such as cards, banks, eWallets, and cash.

This is a one-stop platform for businesses to easily collect, hold, and send funds in various currencies. The founders of the company were looking for a way to develop a wallet that could actually compete with PayPal and dethrone its monopoly.

Further, the company is on the run to acquire other small financial firms to strengthen its platform. They recently acquired two Icelandic credit card companies and a Hong-Kong based Neat.

10. SoFi

10 Best Fintech Companies & Startups You Should Know in 2023 (10)Market Capitalization: $5.32 billion

SoFi Technologies is a financial service provider that operates in three segments – a lending platform, technology services, and financial services. Hence, you can borrow, save, spend, invest, and protect money with SoFi.

Furthermore, the company deals in financial services such as personal loans, student loans, and home loans. Also, it works on multiple side projects like Galileo, a technology platform offering financial services, including brokerage to various businesses.

There is SoFi Invest, a mobile investment platform that makes it possible for users to quickly access trading and advisory solutions when it comes to trading.

Wrapping Up

There has been a significant revolution in the Fintech industry in the past decade. The inception of various apps has transformed the way people transfer cash, take loans, invest in stocks and gold, and other use other financial services. Fintech companies have made it possible and brought the once unimagined advancement level.

Further, these companies and startups are working on the latest cutting-edge technology and experimenting with new business models to acquire more ground in the market. That’s why in the coming years, we can surely see a massive increase in revenue of the fintech sector.

If you are planning to have a startup, check out some innovative ideas here.

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What is the next big thing in FinTech? ›

Alternative lending

Alternative lending — also known as P2P lending — is another of the disruptive fintech trends that grew in 2022. These are loan services given through online platforms that bring together borrowers underserved by traditional lenders and investors looking to tap into alternative markets.

What is the most successful FinTech company? ›

  • Stripe (US) Stripe has been revealed as the most valuable FinTech company in the world, with a total valuation of $95 billion. ...
  • Checkout.com (UK) Checkout.com's $40 billion valuation places them in second place. ...
  • Revolut (UK) ...
  • FTX (Bahamas) ...
  • Chime (US) ...
  • ALSO READ: Global FinTech Use Cases Report 2021.
Dec 29, 2022

What is the trend in digital banking 2023? ›

Mobile banking, artificial intelligence and chatbots, open banking, and cryptocurrency are just a few of the digital banking trends reshaping the industry. Personalized banking, augmented reality, voice banking, and cybersecurity are set to shape the banking industry in the coming years.

What are three examples of the largest best known FinTech companies? ›

Biggest Fintech Companies In The World
  • SoFi Technologies, Inc (NASDAQ:SOFI) Market Cap as of November 18: $4.81 Billion. ...
  • Klarna. Estimated Valuation: $6.7 Billion. ...
  • Wise plc (OTC:WIZEY) Market Cap as of November 18: $7.53 Billion. ...
  • Robinhood Markets, Inc. (NASDAQ:HOOD) ...
  • Coinbase Global, Inc. ...
  • Nubank (NYSE:NU) ...
  • Chime. ...
  • Revolut.
Nov 22, 2022

What are the top 5 trends in fintech? ›

  • Data-driven platforms and automation. ...
  • AI-driven hyper-personalized customer experiences. ...
  • Payment diversity: Embedded finance, blockchain and crypto. ...
  • Risk management tech: Compliance, privacy and cybersecurity. ...
  • Quantum computing: The rise of the new fintech era.
Feb 7, 2023

What is the fintech trend for 2023? ›

Fintech will continue to be a driving force of the future. By 2023-2024 we can expect greater use of blockchain, AI and IoT in financial transactions. Automation and integration will grow more sophisticated. As a result, consumers will have access to more tailored services that better suit their individual needs.

What are banking priorities for 2023? ›

Expansion of digital products and payments capabilities (Increase from 26% to 39% in 2023) Use of big data, AI and advanced analytics (Decrease from 43% to 39% in 2023) Improvement of integrated multichannel delivery (Decrease from 32% to 24% in 2023) Finding and training new talent (Increase from 12% to 20% in 2023)

What innovations will banks see in 2023? ›

12 digital trends that will transform banking in 2023
  • Personalization will become ubiquitous and table stakes. ...
  • Banks will move from traditional PFM to advanced money management capabilities. ...
  • Connected channels will rule for customer engagement. ...
  • Banks will be defined by their ecosystem.
Jan 4, 2023

What should banks focus on in 2023? ›

Better experiences are essential for customer acquisition and retention. Before banks chart their innovation journeys, they must understand their customers' preferences and desires for outstanding experiences. According to BAI research, new customer acquisition is the #1 priority for banks in 2023.

What are the 4 areas of fintech? ›

Artificial intelligence, blockchain, cloud computing, and big data are regarded as the "ABCD" (four key areas) of fintech. The use of smartphones for mobile banking, investing, borrowing services, and cryptocurrency are examples of technologies designed to make financial services more accessible to the general public.

What is the fastest growing fintech USA? ›

Meet the fastest-growing fintechs of 2022
  • DNA Payments.
  • 5ire.
  • Payhawk.
  • Dune Analytics.
  • Yokoy.
  • Fonoa Technologies.
  • Shares.
  • Token.
Dec 20, 2022

What are the three pillars of fintech? ›

  • Capital Formation.
  • Credit and Risk Solutions.
  • Data & Distribution.
  • Economics & Country Risk.
  • Sustainability.
  • Financial Technology Solutions.

What is the most disruptive fintech? ›

1. Fundera. As one of the top disruptive fintech companies out there, Fundera provides a way to compare multiple business loan options at one time.

Which is the fastest growing fintech market in the world? ›

The report offers market size and forecasts for Global Fintech Market in value (USD Billion) for all the above segments.
Fintech Market Size.
Study Period:2019 - 2028
Fastest Growing Market:Asia Pacific
Largest Market:North America
CAGR:18.97 %
2 more rows

What is the highest paid fintech? ›

The highest paying role reported at Fintech is Product Design Manager at the Common Range Average level with a yearly total compensation of $357,000. This includes base salary as well as any potential stock compensation and bonuses.

What are the hottest fintech trends? ›

Among many fintech trends, Artificial Intelligence, DeFi (Decentralised Finance), Blockchain, and RegTech (Regulatory Technology) will stand for in 2023.

What are 3 current trends in the US fintech market? ›

In this article, we will explore the top 5 trends currently driving the US fintech industry. These include the rise of mobile banking, digital investment platforms, blockchain technology, AI-driven solutions, and open banking systems.

What's the world's biggest fintech? ›

Largest Fintech Companies by Market Valuation
Country Sector Search Search in Name Country Type of company Status Market Cap Reference Date Source Continent Newly Added Newly Updated
1VisaUnited States
2MastercardUnited States
3Tencent (Fintech business)China
35 more rows

Which technologies will dominate in 2023? ›

Top New Technology Trends
  • Computing Power.
  • Smarter Devices.
  • Datafication.
  • Artificial Intelligence and Machine Learning.
  • Extended Reality.
  • Digital Trust.
  • 3D Printing.
  • Genomics.
Apr 3, 2023

What to expect in 2023 finance? ›

6 Financial Trends That Could Shape 2023: Recession, Housing, Crypto and More. Persistent inflation and a minor recession are expected in 2023, but so is increased stability in the housing and stock markets. Start preparing your finances now and you could take advantage of the uncertainty.

What is hot in fintech? ›

Payment innovations

Payment innovations in fintech have multiple components. These are mobile payments, contactless payments, mobile wallets, smart speaker systems, identity verification technologies, AI, and machine learning for security.

What are the top financial risks for 2023? ›

So, without further ado, let's take a look at the biggest risks likely to drive market sentiment in 2023, starting with:
  • Debt Crises.
  • Central banks overtighten. ...
  • China. ...
  • European energy crisis. ...
  • Inflation. ...
Feb 8, 2023

What are the big 3 in banking? ›

The “big four banks” in the United States are JPMorgan Chase, Bank of America, Wells Fargo, and Citibank.

What are the 4 pillars of banking of the future? ›

This framework is the digital-first platform, supported by four pillars – omni-channel banking, smart banking, modular banking, and open banking.

What is the big bank predicting? ›

Westpac has released a report predicting seven rate cuts in 2024 and 2025. That good news was mitigated by the bank's prediction that rates would continue to rise in the short term, hitting 4.1% over the next four months, The Australian reported.

What is next for the banking industry? ›

In the next era, banks can realign to compete in new arenas, organized around distinct customer needs. These arenas will expand far beyond the current definition of financial services, and they will also be hotly contested by a wide range of tech giants, tech start-ups, and other nonbanks.

What is the bank industry outlook for 2023? ›

Risks Outweigh Margin Benefit The deteriorating sector outlook for banks in 2023 reflects a gloomier economic outlook, with risk increasing. We expect business conditions to deteriorate compared to 2022 as global growth slows. Asset quality will generally deteriorate, albeit from historical lows.

What are the top priorities for finance leaders in 2023? ›

Gartner surveyed finance leaders across all major industries to identify finance trends, priorities and challenges for 2023. This year's top priorities center around activities that combat slowing growth; persistent high inflation; scarce, expensive talent; and global supply constraints.

What are the trends payment 2023? ›

In 2023, regulatory scrutiny and product innovation will broaden consumer payment choice, intensifying competition among providers. Global funding for payments startups fell 49% last year, signaling a more cautious approach by investors amid high levels of economic uncertainty.

What is the future growth of FinTech? ›

According to the latest available data, the global fintech market is worth approximately $165.17 billion in 2023.

What are the predictions for future FinTech? ›

Stock Price Forecast

The 1 analysts offering 12-month price forecasts for Future Fintech Group Inc have a median target of 71.50, with a high estimate of 71.50 and a low estimate of 71.50. The median estimate represents a +6,341.44% increase from the last price of 1.11.

What are the five trends shaping the future of FinTech? ›

These trends include the rise of digital payments and forex trading, the growing importance of artificial intelligence (AI) and machine learning, the increasing role of blockchain technology, and the growing focus on financial inclusion.

What are the 4 areas of FinTech? ›

Artificial intelligence, blockchain, cloud computing, and big data are regarded as the "ABCD" (four key areas) of fintech. The use of smartphones for mobile banking, investing, borrowing services, and cryptocurrency are examples of technologies designed to make financial services more accessible to the general public.


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