FinTech unicorn describes startups that are valued at more than $1 billion. The global fintech market attained a value of more than USD 135.9 billion. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 11.9% to reach over USD 266.9 billion by 2027.
A slowdown in financial technology sector deal flow is lingering, with a wait-and-see sentiment extending into the second half of the year.
According to Private Equity & Venture Capital Investment in FinTech, many fintech companies went public with lofty valuations during the latest peak around 2021 only to see their share prices plummet in 2022-2023.
From January through June 2023, the global fintech sector recorded 128 M&A transactions, compared to 248 in the first half of 2022 and 188 in the second half of 2022, according to Beinsure Data.
List of FinTech Unicorn Startups by valuation 2022
| № | FinTech | Most recent valuation | VC raised to date |
|---|---|---|---|
| 1 | Ant Group | $200.0B | $1.5B |
| 2 | Stripe | $152.0B | $800M |
| 3 | Nubank | $41.5B | $2.4B |
| 4 | Checkout | $40.0B | $1.8B |
| 5 | Revolut | $33.0B | $1.8B |
| 6 | Gojek | $27.9B | $6.8B |
| 7 | Chime | $25.0B | $2.6B |
| 8 | Plaid | $13.4B | $734.3M |
| 9 | Wise | $12.2B | $542.4M |
| 10 | Deel | $12.1B | $679.5M |
| 11 | Goodleap | $12.0B | $800.0M |
| 12 | Affirm | $11.9B | $1.5B |
| 13 | Bolt Financial | $11.0B | $957.0M |
| 14 | Torpago | $10.5M | $83.1M |
| 15 | Gusto | $9.6B | $751.2M |
| 15 | ServiceTitan | $9.5B | $1.1B |
| 15 | N26 | $9.0B | $1.8B |
| 15 | Rapyd | $8.8B | $801.1M |
| 16 | Avalara | $8.4B | $394.5M |
| 17 | Tipalti | $8.3B | $556.0M |
| 18 | SumUp | $8.2B | $692.0M |
| 19 | Ramp | $8.1B | $1.3B |
| 20 | Suning Finance | $7.9B | $2.2B |
| 21 | Ping An Healt | $7.5B | $1.6B |
| 21 | Razorpay | $7.5B | $746.5M |
| 22 | toss | $7.4B | $844.4M |
| 22 | Carta | $7.4B | $1.2B |
| 23 | Remitly | $6.9B | $435.4M |
| 23 | Better | $6.9B | $1.2B |
| 24 | Mollie | $6.5B | $939.9M |
| 25 | Qudian | $6.4B | $906.0M |
| 26 | Upgrade | $6.3B | $571.6M |
| 27 | iCapital | $6.0B | $678.4M |
| 28 | Mambu | $5.5B | $444.7M |
| 29 | Opendoor Tech | $5.2B | $1.3B |
| 30 | Qonto | $5.0B | $700.6M |
| 30 | Zepz | $5.0B | $676.3M |
| 31 | OfBusiness | $5.0B | $987.3M |
| 32 | Creditas | $4.8B | $881.9M |
| 33 | Lendable | $4.7B | $327.2M |
| 33 | Pleo | $4.7B | $429.0M |
| 34 | Monzo | $4.6B | $1.3B |
| 35 | Clover Health | $4.5B | $925.0M |
| 36 | Dave | $4.0B | $76.3M |
| 36 | CRED | $4.0B | $1.1B |
| 36 | Wealthsimple | $4.0B | $875.6M |
| 37 | ChargeBee | $3.8B | $479.9M |
| 38 | DriveWealth | $3.7B | $828.9M |
| 39 | SpotOn | $3.6B | $900.0M |
| 39 | Wind Information | $3.6B | $216.4M |
| 40 | Starling Bank | $3.4B | $968.3M |
| 41 | Cedar | $3.2B | $619.4M |
| 42 | Cross River Bank | $3.0B | $1.1B |
| 42 | TradingView | $3.0B | $338.6M |
| 42 | Grab Financial Group | $3.0B | $417.0M |
| 42 | Flutterwave | $3.0B | $479.2M |
| 42 | DLocal | $3.0B | $350.0M |
| 43 | Alan | $2.9B | $552.2M |
| 43 | Loft | $2.9B | $794.5M |
| 44 | Varo | $2.5B | $992.3M |
| 44 | Ual | $2.5B | $544.0M |
| 44 | Alkami | $2.5B | $390.3M |
| 45 | Greenlight FinTech | $2.4B | $557.2M |
| 45 | Trumid | $2.4B | $733.3M |
| 45 | Flywire | $2.4B | $323.2M |
| 45 | 360 DigiTech | $2.4B | $530.4M |
| 45 | HoneyBook | $2.4B | $486.5M |
| 46 | Divvy | $2.3B | $417.5M |
| 46 | Groww | $2.3B | $394.8M |
| 47 | Orange Retail Finance | $2.2B | $1.6B |
| 47 | Chipper Cash | $2.2B | $300.5M |
| 47 | Current | $2.2B | $411.0M |
| 47 | Modern Treasury | $2.2B | $183.0M |
| 47 | Addepar | $2.2B | $495.1M |
| 48 | NAX | $2.1B | $97.2M |
| 48 | OakNorth Bank | $2.1B | $745.7M |
| 48 | PayFit | $2.1B | $495.9M |
| 48 | GoCardless | $2.1B | $620.7M |
| 48 | ReCharge | $2.1B | $277.0M |
| 48 | CloudWalk | $2.1B | $481.2M |
| 49 | GVE | $2.0B | $28.2M |
| 49 | bKash | $2.0B | $260.0M |
| 49 | Rezolve | $2.0B | $9.2M |
| 49 | Momo | $2.0B | $433.8M |
| 49 | Mynt | $2.0B | $475.0M |
| 49 | Firstp2p | $2.0B | $111.0M |
| 49 | Edaili | $2.0B | $15.7M |
| 49 | Pipe | $2.0B | $316.0M |
| 49 | Clearco | $2.0B | $935.0M |
| 50 | Linkar | $1.9B | $309.0M |
| 50 | bunq | $1.9B | $228.0M |
| 50 | MX | $1.9B | $451.0M |
| 50 | Enfusion | $1.9B | $156.0M |
| 51 | Acorns | $1.8B | $635.3M |
| 51 | FinAccel | $1.8B | $332.0M |
| 51 | Slice | $1.8B | $292.9M |
| 51 | Viva Payment | $1.8B | $766.4M |
| 52 | Wave | $1.7B | $205.0M |
| 52 | Spotter | $1.7B | $509.6M |
| 52 | Five Star Business Finance | $1.7B | $450.8M |
| 52 | Judo Bank | $1.7B | $837.2M |
| 52 | Divvy Homes | $1.7B | $399.4M |
| 52 | Clear Street | $1.7B | $221.7M |
| 52 | Scalable Capital | $1.7B | $319.9M |
| 53 | Mercury | $1.6B | $172.8M |
| 53 | Clip | $1.6B | $435.7M |
| 53 | Pave | $1.6B | $162.8M |
| 53 | Capitolis | $1.6B | $280.4M |
| 53 | Self Financial | $1.6B | $126.7M |
| 54 | Zeta | $1.5B | $340.0M |
| 54 | Upside | $1.5B | $291.0M |
| 54 | Tryllian | $1.5B | $417.6M |
| 54 | Kushki | $1.5B | $202.0M |
| 54 | Bilt Rewards | $1.5B | $213.0M |
| 54 | BillDesk | $1.5B | $92.5M |
| 55 | X Financial | $1.4B | $146.2M |
| 55 | Stash | $1.4B | $512.1M |
| 55 | Wealthfront | $1.4B | $275.0M |
| 55 | M1 | $1.4B | $323.9M |
| 55 | Paddle | $1.4B | $304.8M |
| 55 | CaoGenTouZi | $1.4B | $523.4M |
| 56 | Talos | $1.3B | $151.0M |
| 56 | Yubi | $1.3B | $231.0M |
| 56 | Betterment | $1.3B | $435.0M |
| 56 | OneCard | $1.3B | $231.5M |
| 56 | Pilot | $1.3B | $324.6M |
| 56 | Konfio | $1.3B | $436.8M |
| 57 | Stori | $1.2B | $234.6M |
| 57 | Unit | $1.2B | $168.9M |
| 57 | Happy Money | $1.2B | $193.5M |
| 57 | Public | $1.2B | $311.0M |
| 57 | FloQast | $1.2B | $202.8M |
| 57 | Guideline | $1.2B | $340.6M |
| 57 | DailyPay | $1.2B | $575.8M |
| 58 | Spendesk | $1.1B | $277.4M |
| 58 | XTransfer | $1.1B | $168.0M |
| 58 | Deposit Solutions | $1.1B | $204.3M |
| 58 | Tiger Brokers | $1.1B | $139.6M |
| 58 | E-Life Financial | $1.1B | $968.5M |
| 58 | Justworks | $1.1B | $146.5M |
| 58 | The Zebra | $1.1B | $355.0M |
| 58 | Housecall Pro | $1.1B | $175.8M |
| 58 | BharatPe | $1.1B | $646.5M |
| 58 | Moonfare | $1.1B | $188.2M |
| 58 | Titan | $1.1B | $175.0M |
| 59 | Leap Finance | $1.0B | $152.5M |
| 59 | Stark Bank | $1.0B | $59.7M |
| 59 | CAIS | $1.0B | $421.0M |
| 59 | Masterworks | $1.0B | $110.0M |
| 59 | Sidecar Health | $1.0B | $170.5M |
| 59 | Wrapbook | $1.0B | $130.5M |
| 59 | Vivid Money | $1.0B | $218.8M |
| 59 | Payhawk | $1.0B | $239.3M |
| 59 | TNG FinTech | $1.0B | $235.0M |
| 59 | Neon | $1.0B | $719.9M |
| 59 | Xendit | $1.0B | $534.5M |
| 59 | Open FinTech | $1.0B | $187.5M |
| 59 | Akulaku | $1.0B | $455.0M |
| 59 | Huisuanzhang | $1.0B | $226.3M |
| 59 | Esusu | $1.0B | $146.6M |
| 59 | SaltPay | $1.0B | $994.6M |
| 59 | FreshBooks | $1.0B | $213.8M |
| 59 | Human Interest | $1.0B | $336.6M |
| 59 | Amount | $1.0B | $282.7M |
| 59 | PingPong | $1.0B | $164.4M |
| 59 | OPN Co | $1.0B | $220.5M |
| 59 | Taxfix | $1.0B | $329.1M |
| 59 | Ajaib | $1.0B | $245.1M |
| 59 | TrueLayer | $1.0B | $306.9M |
| 59 | SmartAsset | $1.0B | $157.5M |
| 60 | Webull | $1.0B | $241.7M |
Source: Beinsure.com by PitchBook Data
TOP-150 FinTech Unicorn Startups by venture capital raised 2023
| № | Company | VC raised to date |
|---|---|---|
| 1 | Rezolve | $9.2M |
| 2 | Gojek | $6.8B |
| 3 | Chime | $2.6B |
| 4 | Nubank | $2.4B |
| 5 | Suning Finance | $2.2B |
| 6 | Checkout | $1.8B |
| 7 | N26 | $1.8B |
| 8 | Ping An Healthcare | $1.6B |
| 9 | Orange Retail Finance | $1.6B |
| 10 | Affirm | $1.5B |
| 11 | Ramp | $1.3B |
| 12 | Opendoor Tech | $1.3B |
| 13 | Monzo | $1.3B |
| 14 | Carta | $1.2B |
| 15 | Better | $1.2B |
| 16 | ServiceTitan | $1.1B |
| 17 | CRED | $1.1B |
| 18 | Cross River Bank | $1.1B |
| 19 | SaltPay | $994.6M |
| 20 | Varo | $992.3M |
| 21 | OfBusiness | $987.3M |
| 22 | NAX | $97.2M |
| 23 | E-Life Financial | $968.5M |
| 24 | Starling Bank | $968.3M |
| 25 | Bolt Financial | $957.0M |
| 26 | Mollie | $939.9M |
| 27 | Clearco | $935.0M |
| 28 | Clover Health | $925.0M |
| 29 | BillDesk | $92.5M |
| 30 | Qudian | $906.0M |
| 31 | SpotOn | $900.0M |
| 32 | Creditas | $881.9M |
| 33 | Wealthsimple | $875.6M |
| 34 | toss | $844.4M |
| 35 | Judo Bank | $837.2M |
| 36 | DriveWealth | $828.9M |
| 37 | Rapyd | $801.1M |
| 38 | Goodleap | $800.0M |
| 39 | Loft | $794.5M |
| 40 | Viva Payment | $766.4M |
| 41 | Gusto | $751.2M |
| 42 | Razorpay | $746.5M |
| 43 | OakNorth Bank | $745.7M |
| 44 | Plaid | $734.3M |
| 45 | Trumid | $733.3M |
| 46 | Neon | $719.9M |
| 47 | Qonto | $700.6M |
| 48 | SumUp | $692.0M |
| 49 | Deel | $679.5M |
| 50 | iCapital | $678.4M |
| 51 | Zepz | $676.3M |
| 52 | BharatPe | $646.5M |
| 53 | Acorns | $635.3M |
| 54 | GoCardless | $620.7M |
| 55 | Cedar | $619.4M |
| 56 | DailyPay | $575.8M |
| 57 | Upgrade | $571.6M |
| 58 | Greenlight FinTech | $557.2M |
| 59 | Tipalti | $556.0M |
| 60 | Alan | $552.2M |
| 61 | Ual | $544.0M |
| 62 | Wise | $542.4M |
| 63 | Xendit | $534.5M |
| 64 | 360 DigiTech | $530.4M |
| 65 | CaoGenTouZi | $523.4M |
| 66 | Stash | $512.1M |
| 67 | Spotter | $509.6M |
| 68 | PayFit | $495.9M |
| 69 | Addepar | $495.1M |
| 70 | HoneyBook | $486.5M |
| 71 | CloudWalk | $481.2M |
| 72 | ChargeBee | $479.9M |
| 73 | Flutterwave | $479.2M |
| 74 | Mynt | $475.0M |
| 75 | Akulaku | $455.0M |
| 76 | MX | $451.0M |
| 77 | Five Star | $450.8M |
| 78 | Mambu | $444.7M |
| 79 | Konfio | $436.8M |
| 80 | Clip | $435.7M |
| 81 | Remitly | $435.4M |
| 82 | Betterment | $435.0M |
| 83 | Momo | $433.8M |
| 84 | Pleo | $429.0M |
| 85 | CAIS | $421.0M |
| 86 | Tryllian | $417.6M |
| 87 | Divvy | $417.5M |
| 88 | Grab Financial Group | $417.0M |
| 89 | Current | $411.0M |
| 90 | Divvy Homes | $399.4M |
| 91 | Groww | $394.8M |
| 92 | Avalara | $394.5M |
| 93 | Alkami | $390.3M |
| 94 | The Zebra | $355.0M |
| 95 | DLocal | $350.0M |
| 96 | Guideline | $340.6M |
| 97 | Zeta | $340.0M |
| 98 | TradingView | $338.6M |
| 99 | Human Interest | $336.6M |
| 100 | FinAccel | $332.0M |
| 101 | Taxfix | $329.1M |
| 102 | Lendable | $327.2M |
| 103 | Pilot | $324.6M |
| 104 | M1 | $323.9M |
| 105 | Flywire | $323.2M |
| 106 | Scalable Capital | $319.9M |
| 107 | Pipe | $316.0M |
| 108 | Public.com | $311.0M |
| 109 | Linkar | $309.0M |
| 110 | TrueLayer | $306.9M |
| 111 | Paddle | $304.8M |
| 112 | Chipper Cash | $300.5M |
| 113 | Slice | $292.9M |
| 114 | Upside | $291.0M |
| 115 | Amount | $282.7M |
| 116 | Capitolis | $280.4M |
| 117 | Spendesk | $277.4M |
| 118 | ReCharge | $277.0M |
| 119 | Wealthfront | $275.0M |
| 120 | bKash | $260.0M |
| 121 | Ajaib | $245.1M |
| 122 | Webull | $241.7M |
| 123 | Payhawk | $239.3M |
| 124 | TNG FinTech Group | $235.0M |
| 125 | Stori | $234.6M |
| 126 | OneCard | $231.5M |
| 127 | Yubi | $231.0M |
| 128 | bunq | $228.0M |
| 129 | Huisuanzhang | $226.3M |
| 130 | Clear Street | $221.7M |
| 131 | OPN Co | $220.5M |
| 132 | Vivid Money | $218.8M |
| 133 | Wind Information | $216.4M |
| 134 | FreshBooks | $213.8M |
| 135 | Bilt Rewards | $213.0M |
| 136 | Wave | $205.0M |
| 137 | Deposit Solutions | $204.3M |
| 138 | FloQast | $202.8M |
| 139 | Kushki | $202.0M |
| 140 | Happy Money | $193.5M |
| 141 | Moonfare | $188.2M |
| 142 | Open Financial Tech | $187.5M |
| 143 | Modern Treasury | $183.0M |
| 144 | Housecall Pro | $175.8M |
| 145 | Titan | $175.0M |
| 146 | Mercury | $172.8M |
| 147 | Sidecar Health | $170.5M |
| 148 | Unit | $168.9M |
| 149 | XTransfer | $168.0M |
| 150 | PingPong | $164.4M |
Source: Beinsure.com by PitchBook Data
This sentiment among sellers has the potential to pick up in 2023, and there is no shortage of smaller publicly traded fintech companies — particularly in the payments sector — that private equity firms or larger corporate players can covet, according to equity analysts.
Fintech, variously referred to as financial technology, is a technology that enhances or automates financial services and processes.
Private equity and venture capital investment in financial technology and payments companies in Europe has been dwarfed by the $10 billion put into US companies in the first five months of the year (see about Value of Global Private Equity Deals).
It utilises specialised software and algorithms to help business owners, companies, and consumers manage their finances using a computer or a smartphone. It is typically used to automate insurance, investments, trading, risk management, and banking services, among others and can provide insight on finances.
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Edited & fact-checked by Oleg Parashchak – Editor-in-Chief Beinsure Media, CEO Finance Media Holding.
