TOP-20 Biggest InsurTech Unicorn Startups in the World

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 valuationVC raised to date
1Ant Group$200.0B$1.5B
2Stripe$152.0B$800M
3Nubank$41.5B$2.4B
4Checkout$40.0B$1.8B
5Revolut$33.0B$1.8B
6Gojek$27.9B$6.8B
7Chime$25.0B$2.6B
8Plaid$13.4B$734.3M
9Wise $12.2B$542.4M
10Deel$12.1B$679.5M
11Goodleap$12.0B$800.0M
12Affirm$11.9B$1.5B
13Bolt Financial$11.0B$957.0M
14Torpago$10.5M$83.1M
15Gusto$9.6B$751.2M
15ServiceTitan$9.5B$1.1B
15N26$9.0B$1.8B
15Rapyd$8.8B$801.1M
16Avalara$8.4B$394.5M
17Tipalti$8.3B$556.0M
18SumUp$8.2B$692.0M
19Ramp$8.1B$1.3B
20Suning Finance$7.9B$2.2B
21Ping An Healt$7.5B$1.6B
21Razorpay$7.5B$746.5M
22toss$7.4B$844.4M
22Carta$7.4B$1.2B
23Remitly$6.9B$435.4M
23Better$6.9B$1.2B
24Mollie$6.5B$939.9M
25Qudian$6.4B$906.0M
26Upgrade$6.3B$571.6M
27iCapital$6.0B$678.4M
28Mambu$5.5B$444.7M
29Opendoor Tech$5.2B$1.3B
30Qonto$5.0B$700.6M
30Zepz$5.0B$676.3M
31OfBusiness$5.0B$987.3M
32Creditas$4.8B$881.9M
33Lendable$4.7B$327.2M
33Pleo$4.7B$429.0M
34Monzo$4.6B$1.3B
35Clover Health$4.5B$925.0M
36Dave$4.0B$76.3M
36CRED$4.0B$1.1B
36Wealthsimple$4.0B$875.6M
37ChargeBee$3.8B$479.9M
38DriveWealth$3.7B$828.9M
39SpotOn$3.6B$900.0M
39Wind Information$3.6B$216.4M
40Starling Bank$3.4B$968.3M
41Cedar$3.2B$619.4M
42Cross River Bank$3.0B$1.1B
42TradingView$3.0B$338.6M
42Grab Financial Group$3.0B$417.0M
42Flutterwave$3.0B$479.2M
42DLocal$3.0B$350.0M
43Alan$2.9B$552.2M
43Loft$2.9B$794.5M
44Varo$2.5B$992.3M
44Ual$2.5B$544.0M
44Alkami$2.5B$390.3M
45Greenlight FinTech$2.4B$557.2M
45Trumid$2.4B$733.3M
45Flywire$2.4B$323.2M
45360 DigiTech$2.4B$530.4M
45HoneyBook$2.4B$486.5M
46Divvy$2.3B$417.5M
46Groww$2.3B$394.8M
47Orange Retail Finance$2.2B$1.6B
47Chipper Cash$2.2B$300.5M
47Current$2.2B$411.0M
47Modern Treasury$2.2B$183.0M
47Addepar$2.2B$495.1M
48NAX$2.1B$97.2M
48OakNorth Bank$2.1B$745.7M
48PayFit$2.1B$495.9M
48GoCardless$2.1B$620.7M
48ReCharge$2.1B$277.0M
48CloudWalk$2.1B$481.2M
49GVE$2.0B$28.2M
49bKash$2.0B$260.0M
49Rezolve$2.0B$9.2M
49Momo$2.0B$433.8M
49Mynt$2.0B$475.0M
49Firstp2p$2.0B$111.0M
49Edaili$2.0B$15.7M
49Pipe$2.0B$316.0M
49Clearco$2.0B$935.0M
50Linkar$1.9B$309.0M
50bunq$1.9B$228.0M
50MX$1.9B$451.0M
50Enfusion$1.9B$156.0M
51Acorns$1.8B$635.3M
51FinAccel$1.8B$332.0M
51Slice$1.8B$292.9M
51Viva Payment$1.8B$766.4M
52Wave$1.7B$205.0M
52Spotter$1.7B$509.6M
52Five Star Business Finance$1.7B$450.8M
52Judo Bank$1.7B$837.2M
52Divvy Homes$1.7B$399.4M
52Clear Street$1.7B$221.7M
52Scalable Capital$1.7B$319.9M
53Mercury$1.6B$172.8M
53Clip$1.6B$435.7M
53Pave$1.6B$162.8M
53Capitolis$1.6B$280.4M
53Self Financial$1.6B$126.7M
54Zeta$1.5B$340.0M
54Upside$1.5B$291.0M
54Tryllian$1.5B$417.6M
54Kushki$1.5B$202.0M
54Bilt Rewards$1.5B$213.0M
54BillDesk$1.5B$92.5M
55X Financial$1.4B$146.2M
55Stash$1.4B$512.1M
55Wealthfront$1.4B$275.0M
55M1$1.4B$323.9M
55Paddle$1.4B$304.8M
55CaoGenTouZi$1.4B$523.4M
56Talos$1.3B$151.0M
56Yubi$1.3B$231.0M
56Betterment$1.3B$435.0M
56OneCard$1.3B$231.5M
56Pilot$1.3B$324.6M
56Konfio$1.3B$436.8M
57Stori$1.2B$234.6M
57Unit$1.2B$168.9M
57Happy Money$1.2B$193.5M
57Public$1.2B$311.0M
57FloQast$1.2B$202.8M
57Guideline$1.2B$340.6M
57DailyPay$1.2B$575.8M
58Spendesk$1.1B$277.4M
58XTransfer$1.1B$168.0M
58Deposit Solutions$1.1B$204.3M
58Tiger Brokers$1.1B$139.6M
58E-Life Financial$1.1B$968.5M
58Justworks$1.1B$146.5M
58The Zebra$1.1B$355.0M
58Housecall Pro$1.1B$175.8M
58BharatPe$1.1B$646.5M
58Moonfare$1.1B$188.2M
58Titan$1.1B$175.0M
59Leap Finance$1.0B$152.5M
59Stark Bank$1.0B$59.7M
59CAIS$1.0B$421.0M
59Masterworks$1.0B$110.0M
59Sidecar Health$1.0B$170.5M
59Wrapbook$1.0B$130.5M
59Vivid Money$1.0B$218.8M
59Payhawk$1.0B$239.3M
59TNG FinTech$1.0B$235.0M
59Neon$1.0B$719.9M
59Xendit$1.0B$534.5M
59Open FinTech$1.0B$187.5M
59Akulaku$1.0B$455.0M
59Huisuanzhang$1.0B$226.3M
59Esusu$1.0B$146.6M
59SaltPay$1.0B$994.6M
59FreshBooks$1.0B$213.8M
59Human Interest$1.0B$336.6M
59Amount$1.0B$282.7M
59PingPong$1.0B$164.4M
59OPN Co$1.0B$220.5M
59Taxfix$1.0B$329.1M
59Ajaib$1.0B$245.1M
59TrueLayer$1.0B$306.9M
59SmartAsset$1.0B$157.5M
60Webull$1.0B$241.7M

Source: Beinsure.com by PitchBook Data

TOP-150 FinTech Unicorn Startups by venture capital raised 2023

CompanyVC raised to date
1Rezolve$9.2M
2Gojek$6.8B
3Chime$2.6B
4Nubank$2.4B
5Suning Finance$2.2B
6Checkout$1.8B
7N26$1.8B
8Ping An Healthcare$1.6B
9Orange Retail Finance$1.6B
10Affirm$1.5B
11Ramp$1.3B
12Opendoor Tech$1.3B
13Monzo$1.3B
14Carta$1.2B
15Better$1.2B
16ServiceTitan$1.1B
17CRED$1.1B
18Cross River Bank$1.1B
19SaltPay$994.6M
20Varo$992.3M
21OfBusiness$987.3M
22NAX$97.2M
23E-Life Financial$968.5M
24Starling Bank$968.3M
25Bolt Financial$957.0M
26Mollie$939.9M
27Clearco$935.0M
28Clover Health$925.0M
29BillDesk$92.5M
30Qudian$906.0M
31SpotOn$900.0M
32Creditas$881.9M
33Wealthsimple$875.6M
34toss$844.4M
35Judo Bank$837.2M
36DriveWealth$828.9M
37Rapyd$801.1M
38Goodleap$800.0M
39Loft$794.5M
40Viva Payment$766.4M
41Gusto$751.2M
42Razorpay$746.5M
43OakNorth Bank$745.7M
44Plaid$734.3M
45Trumid$733.3M
46Neon$719.9M
47Qonto$700.6M
48SumUp$692.0M
49Deel$679.5M
50iCapital$678.4M
51Zepz$676.3M
52BharatPe$646.5M
53Acorns$635.3M
54GoCardless$620.7M
55Cedar$619.4M
56DailyPay$575.8M
57Upgrade$571.6M
58Greenlight FinTech$557.2M
59Tipalti$556.0M
60Alan$552.2M
61Ual$544.0M
62Wise $542.4M
63Xendit$534.5M
64360 DigiTech$530.4M
65CaoGenTouZi$523.4M
66Stash$512.1M
67Spotter$509.6M
68PayFit$495.9M
69Addepar$495.1M
70HoneyBook$486.5M
71CloudWalk$481.2M
72ChargeBee$479.9M
73Flutterwave$479.2M
74Mynt$475.0M
75Akulaku$455.0M
76MX$451.0M
77Five Star$450.8M
78Mambu$444.7M
79Konfio$436.8M
80Clip$435.7M
81Remitly$435.4M
82Betterment$435.0M
83Momo$433.8M
84Pleo$429.0M
85CAIS$421.0M
86Tryllian$417.6M
87Divvy$417.5M
88Grab Financial Group$417.0M
89Current$411.0M
90Divvy Homes$399.4M
91Groww$394.8M
92Avalara$394.5M
93Alkami$390.3M
94The Zebra$355.0M
95DLocal$350.0M
96Guideline$340.6M
97Zeta$340.0M
98TradingView$338.6M
99Human Interest$336.6M
100FinAccel$332.0M
101Taxfix$329.1M
102Lendable$327.2M
103Pilot$324.6M
104M1 $323.9M
105Flywire$323.2M
106Scalable Capital$319.9M
107Pipe$316.0M
108Public.com$311.0M
109Linkar$309.0M
110TrueLayer$306.9M
111Paddle$304.8M
112Chipper Cash$300.5M
113Slice$292.9M
114Upside$291.0M
115Amount$282.7M
116Capitolis$280.4M
117Spendesk$277.4M
118ReCharge$277.0M
119Wealthfront$275.0M
120bKash$260.0M
121Ajaib$245.1M
122Webull$241.7M
123Payhawk$239.3M
124TNG FinTech Group$235.0M
125Stori$234.6M
126OneCard$231.5M
127Yubi$231.0M
128bunq$228.0M
129Huisuanzhang$226.3M
130Clear Street$221.7M
131OPN Co$220.5M
132Vivid Money$218.8M
133Wind Information$216.4M
134FreshBooks$213.8M
135Bilt Rewards$213.0M
136Wave$205.0M
137Deposit Solutions$204.3M
138FloQast$202.8M
139Kushki$202.0M
140Happy Money$193.5M
141Moonfare$188.2M
142Open Financial Tech$187.5M
143Modern Treasury$183.0M
144Housecall Pro$175.8M
145Titan$175.0M
146Mercury$172.8M
147Sidecar Health$170.5M
148Unit$168.9M
149XTransfer$168.0M
150PingPong$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.