Currently, there are around 380 private companies in the world that are valued at $1B. These companies together are worth $1.1T and have raised a total of $273bn. Some of these companies are valued at $10bn and one of the variants is valued at $100bn.
In 2018, there were 119 new start-up companies joining the Fintech universe, giving it a 66% increase from the 72 start-ups back in 2017.
Facts show that 50% of start-up companies are hosted by the U.S, and China coming in second with 25%. The UK has around 20 Fintech companies and India coming in last with 16.
From a global perspective, Europe may seem to be rather behind when it comes to new start-up companies but reports show that it’s gaining pace for over a year now. 14 start-ups based in Europe reached the $1bn milestone adding them to the top companies of the world.
The list of the top valuable Fintech companies in Europe are as follows:
Klarna – Market Cap $3.5bn
Klarna is one of Europe’s largest banks located in Sweden and offers online financial services like payment solutions, direct payments, instalment plans and more to various firms. Klarna also handles all credit and fraud risk for online storefronts.
Greensill – Market Cap $3.5bn
This firm stands as the leading provider of working capital finance. They own Greensill Bank and have $3bn of assets under management in the Supply Chain Finance fund. Greensill utilizes the power of financial markets to unlock capital to suit its clients need.
N26 – Market Cap $3.5bn
N26 based in Berlin Germany is a digital bank with over 1,000 employees in offices in major cities like New York and Barcelona. N26 is one of Europe’s top best-funded start-ups. They focus on offering free and premium accounts for personal and business use too.
TransferWise – Market Cap $3.5bn
TransferWire is a London based company that supports over 750 currency routes across the world and provides multi-currency accounts. They move more than £4bn on a monthly basis globally and are available in over 71 countries. TransferWire achieved this success via P2P transfers.
BGL Group – Market Cap $3bn
An insurance brokerage service provider and a leading digital distributor of insurance and household financial service, BGL Group’s main focus are home and vehicle insurance. They offer legal protection and personal accident cover and in recent years have added life insurance as part of their services too.
Monzo – Market Cap $2.6bn
Monzo is a digital mobile bank based in the UK and since 2017, offer full UK current accounts enabling clients to receive salaries, make direct debits, open overdrafts and complete bank transfers. Currently, Monzo has over 2 million clients. In early 2019, they started the trial of business accounts and now they have hundreds of enrolments active.
OakNorth – Market Cap $2.4bn
OakNorth is a UK-based specialist bank that provides property loans, business loans, personal savings and business savings. It gives out loans to businesses and property developers of up to £45 million. OakNorth’s Fintech platform Acorn uses cloud-based tech that analyses data from various organisations. They also use AI technology which conducts deeper and faster credit analysis. AI also monitors for any breaches.
Checkout.com – Market Cap $2bn
This firm aims to help other companies accept more payments globally through integration via user access to a network that benefits from real-time insights and centralised reconciliation tools. Their technology also grants access to payment gateways, risk and fraud monitoring tools and relevant acquirers via payment solutions.
Revolut – Market Cap $1.8bn
Revolut is a digital banking and financial technology service based in London. It provides services like a current account, consumer and business lending and overdrafts. Their business accounts have grown exponentially over the last few years and many firms and users have recognised their services on a global scale. Revolut has been offering global business accounts for easy, fast and efficient international payments, with prepaid business cards and Open API.
Radius Payment Solutions – Market Cap $1.1 bn
RPS’s headquarters are located in the UK and they are a provider of fuel cards for vehicle fleets. They have a presence in 29 countries and provide a large range of products and services to medium size fleets. What is key to note about RPS is that they are the first global fuel card business to have created its own telematics vehicle tracking and management solution.
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