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Top Fintech Startups Making Waves in 2023 by Revenue

top fintech startups

What is a FINTECH?

Fintech, short for “financial technology,” refers to the use of technology and innovation to provide financial services, products, and solutions.

It involves the application of modern technologies, such as software, apps, and digital platforms, to transform and enhance various aspects of the financial industry. the companies aim to make financial services more efficient, accessible, and convenient for individuals and businesses.

Fintech encompasses a wide range of activities and services, including but not limited to:

  1. Payments and Money Transfer: Fintech companies offer digital payment solutions, online money transfer services, and mobile wallets that enable users to send and receive money quickly and securely.
  2. Digital Banking: Fintech has led to the emergence of digital-only or online banks that offer banking services entirely through digital channels, eliminating the need for physical branches.
  3. Investment and Wealth Management: Fintech companies offer automated investment platforms (robo-advisors) that use algorithms to provide investment recommendations and manage investment portfolios.
  4. Cryptocurrency and Blockchain: Fintech plays a significant role in the development and adoption of cryptocurrencies like Bitcoin and technologies like blockchain, which underpins secure and transparent digital transactions.
  5. Insurance Technology (Insurtech): Fintech innovations are also applied to the insurance sector, providing online platforms for purchasing insurance, claims processing, and risk assessment.
  6. Personal Finance and Budgeting: Fintech apps and tools help individuals manage their finances, budgeting, saving, and investing.
  7. Regulatory Technology (Regtech): Fintech solutions are used to streamline and automate regulatory compliance processes for financial institutions.
  8. Crowdfunding and Peer-to-Peer Lending: Fintech platforms enable individuals and businesses to raise funds from a large number of people through crowdfunding or peer-to-peer lending.
  9. Remittances: Fintech services facilitate cross-border remittances, allowing individuals to send money to family and friends in different countries at a lower cost compared to traditional methods.

Fintech has gained significant traction in recent years due to advancements in technology, increased smartphone and internet usage, and changing consumer preferences. It has disrupted traditional financial services, leading to more competition and greater innovation in the industry

Top 9 Fintech Startups In 2023 by Revenue


Revolutionizing Internet Economic Infrastructure



Type: Economic infrastructure for the Internet.
Year founded: 2009
Team Size:7000
Location: San Francisco
CEO: Patrick Collison

Stripe is a global technology company that serves as an economic infrastructure for the Internet. It was launched out of Y Combinator’s 2009 Summer batch and has since grown to become a major player in the online payment and financial technology (fintech) industry. Stripe’s core focus is on providing software solutions and APIs (Application Programming Interfaces) that enable companies of all sizes to facilitate online payments, manage their businesses, and handle financial transactions. Founders: Stripe was founded by brothers Patrick Collison (CEO) and John Collison (President).

  • Key Information:
    • Payment Processing: Stripe’s primary offering is its payment processing platform. It provides tools and APIs that enable businesses to accept online payments securely and efficiently.
    • Payouts: Stripe allows businesses to send payouts to individuals or other businesses, making it useful for gig economy platforms, marketplaces, and more.
    • Business Management: Stripe’s software tools help businesses manage various aspects of their operations, including revenue tracking, financial reporting, and customer insights.
    • Industries Served:
    • Fintech: Stripe is deeply involved in the fintech space, providing tools that empower businesses in the financial technology sector.
    • Banking as a Service: Stripe offers services related to banking infrastructure, enabling businesses to incorporate banking features into their applications and platforms.
  • Partnerships and Clients:

    Stripe is known for its partnerships with various companies, including startups and well-established businesses. It has played a role in the growth of several Y Combinator companies.

  • Achievements and News:
    • Stripe has been recognized by CNBC as part of the Disruptor 50 list.
    • The company has successfully raised significant funding rounds, with the most recent round valuing the company at $50 billion.
    • Stripe has been involved in high-profile partnerships, such as its collaboration with Amazon to streamline online payments and e-commerce
  • Technology and Innovation: Stripe is notable for its technological innovations in the payments and fintech industry. It has introduced features like “fiat-to-crypto on-ramp” to address specific challenges in the digital payments ecosystem.

Stripe’s mission revolves around providing the technological backbone for online commerce and financial activities, enabling businesses to seamlessly transact, manage finances, and grow their operations on the Internet. It has a strong presence in the startup ecosystem, offering resources, partnerships, and services that help startups succeed and scale.


Empowering Startups with Innovative Financial Solutions



Type: Business accounts, corporate cards, and spend management software.
Year founded: 2017
Team Size:1100
Location: San Francisco
CEO:Henrique Dubugras

Brex is a financial technology (fintech) company that offers business accounts, corporate cards, and spend management software to help startups and growing businesses manage their finances effectively. The company was founded in 2017 by Henrique Dubugras and Pedro Franceschi. It is based in San Francisco, California.

Mission and Services: Brex’s mission is to empower the next generation of businesses with integrated financial solutions. The company provides a range of services to support startups and businesses as they scale from their early stages to more mature operations. These services include:

  1. Corporate Cards: Brex offers corporate credit cards with significantly higher spending limits (10-20x higher) compared to traditional cards. These cards are designed to help startups and businesses manage their expenses and cash flow more efficiently.
  2. Business Accounts: Brex provides business accounts with features such as easy wire transfers. This helps businesses manage their funds and financial transactions seamlessly.
  3. Reward Options: Brex offers reward options for its customers, which may include billboards, offsite events, coaching, and more. These rewards can contribute to the growth and development of startups.
  4. Founder-Friendly Financial Modeling Tools: The company provides financial modeling tools that are tailored to the needs of founders, helping them with financial planning and decision-making.
  5. Long-Term Capital Solutions: Brex offers bespoke, long-term capital solutions to support businesses as they expand and require additional funding.
  6. Special Events and Masterclasses: Brex hosts special events and masterclasses for founders, enabling them to learn from industry experts and peers.
  7. Advanced Spend Management Software: As startups grow, Brex provides advanced spend management software to help businesses track and optimize their expenditures.

Company Growth: Brex has gained significant recognition and success since its inception. The company serves a wide range of customers, from early-stage startups to established enterprises. Notable companies such as DoorDash, Coinbase, Scale AI, and Airbnb are among Brex’s customers. The company has received attention for its innovative approach to financial solutions for startups and its ability to adapt and expand its offerings based on the evolving needs of businesses.

Founders’ Background: Henrique Dubugras and Pedro Franceschi, the co-founders of Brex, have a history of entrepreneurship and tech innovation. They initially collaborated on Pagar. me, a startup that facilitated online payments for Brazilian merchants. After selling Pagar. me to a payments fintech company, the founders pursued further entrepreneurial endeavors and ultimately established Brex. They dropped out of Stanford University to focus on their new venture and have since built a successful fintech company.

YC Collaboration and Community: Brex maintains a strong connection with the Y Combinator (YC) community, which is a startup accelerator and investment firm. The company collaborates with YC on various initiatives, including hosting events like supper club dinners, founder mixers, happy hours, and end-of-batch parties. Brex also celebrates graduating YC classes through a billboard program that highlights the achievements of YC-backed startups.

Overall, Brex provides innovative financial solutions tailored to the unique needs of startups and growing businesses, aiming to simplify financial management, enable better decision-making, and support companies as they scale and succeed.


Redefining Global HR Management in the Fintech Sector



Type: The all-in-one HR platform for global teams.
Year founded: 2018
Team Size:2000
Location: San Francisco,USA
CEO: Alex Bouaziz

Deel is an innovative company that provides an all-in-one HR platform designed specifically for global teams. Founded in 2018 by Alex Bouaziz (CEO) and Shuo Wang (CRO), Deel addresses the challenges associated with managing international workforces, offering solutions that range from culture and onboarding to local payroll and compliance. The company’s platform is tailored to meet the needs of both independent contractors and full-time employees in over 150 countries, all while ensuring compliance with local regulations.

Key Details:

  • Core Services:
    • Global HR Solutions: Deel offers a comprehensive suite of HR solutions that help businesses manage their global workforce efficiently. This includes features for culture building, onboarding, payroll management, and compliance
    • International Payroll: Deel simplifies the process of managing payroll for employees and contractors in different countries, ensuring compliance with local tax and labor laws
    • Compliance: Deel’s platform is designed to assist companies in navigating complex regulatory requirements when employing workers in various locations.
  • Industries Served:
    • Fintech: Deel operates in the fintech sector, providing HR and compliance solutions that are essential for companies operating in the global economy.
    • SaaS (Software as a Service): Deel’s platform operates as a SaaS offering, providing accessible and scalable solutions for businesses of all sizes.
  • Achievements and News:
    • Deel has gained significant attention and recognition within the industry, evident from its impressive valuation and revenue growth.
    • The company has acquired Capbase, signaling its expansion into equity management.
    • Deel’s platform enhancements have been highlighted in news articles, showcasing its commitment to simplifying global HR processes.
  • Vision and Mission:
    • Deel’s mission is to simplify the process of global HR management, allowing companies to seamlessly operate on a global scale without being hindered by administrative complexities.
    • The company envisions a future where geographic borders do not limit job opportunities, enabling talent to thrive and contribute to the best companies worldwide.

Deel’s innovative approach to global HR challenges aligns with the changing nature of work, where remote and international collaboration is becoming increasingly common. By providing an integrated platform that streamlines essential HR functions and ensures compliance, Deel contributes to the growth and success of businesses that operate across borders.


Transforming Latin America’s Consumer Tech Landscape



Type: On-demand delivery and financial services for Latin America.
Year founded: 2015
Team Size:5700
Location: Bogotá, Colombia
CEO: Simon Borrero

Rappi is a prominent consumer technology startup based in Latin America, specifically focused on providing on-demand delivery and financial services. The company was founded and is currently led by Simon Borrero, Sebastian Mejia, and Felipe Villamarin. Rappi operates in multiple countries across Latin America, including Argentina, Brazil, Mexico, and Colombia, and aims to become the “everything store” for the region. Here are some key details about the company:

Mission and Services: Rappi’s mission is to revolutionize the way people access goods and services by providing a convenient and efficient on-demand delivery platform. The company functions as a marketplace that connects users with contractors who fulfill various orders, including prepared foods, groceries, clothes, and more. Rappi essentially acts as a combination of popular delivery and e-commerce services like DoorDash, Delivery, and Instacart.

Funding and Recognition: Rappi has achieved significant growth and recognition in the startup ecosystem. The company has secured substantial funding, including a mega Series B round backed by top-tier venture capital firms such as Sequoia, DST, Andreessen Horowitz, and Y Combinator. This funding has enabled Rappi to expand its operations and scale its presence across different markets in Latin America.

Geographical Presence: Rappi operates in several countries within Latin America, catering to the needs of consumers in Argentina, Brazil, Mexico, Colombia, and potentially more markets. The company’s rapid expansion underscores its commitment to providing on-demand delivery and financial services to a wide range of customers throughout the region.

Founders and Leadership: The company’s leadership team consists of co-founders who have a strong background in the tech and business domains. Simon Borrero serves as the CEO of Rappi, and he is recognized for his role in leading the company’s growth and transformation. Sebastian Mejia and Felipe Villamarin are also active founders involved in driving Rappi’s success.

Company Size and Jobs: Rappi boasts a substantial team, with a reported team size of 5700 employees. The company is headquartered in Bogotá, Colombia, reflecting its Latin American roots. Rappi offers various job opportunities, including positions for developers (Fullstack, iOS, Android, Backend), as well as roles in operations research engineering.

Recent Developments: Rappi continues to make headlines with its significant achievements. The company successfully raised substantial funding at a valuation of $5.25 billion, further solidifying its position in the Latin American tech landscape. Its expansion, coupled with its innovative approach to on-demand delivery and financial services, has garnered attention from both investors and the media.

In summary, Rappi is a leading player in the Latin American consumer tech space, providing on-demand delivery and financial services across multiple countries. The company’s mission, geographical reach, leadership, and notable funding underscore its ambition to redefine convenience and accessibility for consumers in the region.


Enhancing Local Business Communication and Payments



Type: A communication, marketing, and payment platform for locals.
Year founded: 2014
Team Size:930
Location: Lehi, UT
CEO: Eric Rea

Podium is a dynamic company that provides a comprehensive communication, marketing, and payments platform tailored to local businesses. Founded in 2014 and based in Lehi, Utah, Podium has rapidly emerged as a leader in transforming how businesses engage with their customers and conduct transactions. The company’s suite of messaging tools enables businesses of all sizes to connect with their customers through text messaging, facilitating various activities such as requesting payments, collecting reviews, and selling products. This modern and convenient approach to customer interaction has garnered Podium recognition on esteemed industry lists, including Forbes’ Next Billion Dollar Startups, Forbes’ Cloud 100, the Inc. 5000 (ranked #13), and Fast Company’s World’s Most Innovative Companies.

Key Details:

  • Mission: Podium’s mission is to modernize and enhance local business operations by revolutionizing the way businesses communicate, market their services, and handle payments. The company aims to provide a seamless and effective platform that bridges the gap between businesses and their local customers.
  • Messaging Tools: Podium offers a suite of messaging tools that enable local businesses to engage with customers via text messaging. These tools facilitate a range of interactions, from requesting payments for services to gathering customer reviews and promoting products.
  • Convenience and Modernization: By leveraging Podium’s platform, local businesses can streamline their processes and adopt more efficient and customer-friendly methods of communication and transaction. This contributes to enhanced customer satisfaction and improved business operations.
  • Industry Recognition: Podium has gained significant recognition within the industry, reflecting its innovative approach and impact. The company’s inclusion in prestigious lists underscores its influence and potential for growth.
  • Backed by Prominent Investors: Podium is backed by a notable group of investors, including Accel, Summit Partners, GV (formerly Google Ventures), and Y Combinator. This financial support highlights the confidence and belief in Podium’s vision and potential.
  • Founders: Podium was co-founded by Eric Rea (CEO) and Dennis Steele (Co-founder and CSO). The founders’ entrepreneurial spirit and commitment have been instrumental in driving the company’s growth and success.
  • Team and Location: As of the available information, Podium has a team size of around 930 employees and is headquartered in Lehi, Utah.
  • Business Impact: Podium’s platform empowers local businesses to effectively communicate with customers, gather feedback, and facilitate transactions, ultimately leading to improved customer relationships and business growth.
  • Continuous Innovation: Podium continues to innovate and enhance its platform, catering to the evolving needs of local businesses and maintaining its position as a pioneer in the field.

Podium’s innovative approach to enhancing local business operations through modern communication and transaction tools has earned it a prominent position within the industry. By providing businesses with the means to effectively connect with their customers and streamline operations, Podium contributes to the growth and success of local businesses in the modern marketplace.


Affordable and Accessible Financial Services for Africa



Type: Mobile money app for Africa.
Year founded: 2018
Team Size:1500
Location: Dakar, Senegal
CEO: Drew Durbin

Wave is a fintech company focused on providing mobile money solutions in Africa. The company was founded in 2018 and is actively working to build affordable financial infrastructure for the African continent. Here are more details about the company:

Mission and Services: Wave’s mission is to create accessible and affordable financial services in Africa through its mobile money app. The company aims to address the financial inclusion gap in the region by providing a platform that allows users to perform various financial transactions, including money transfers, payments, and more, using their mobile devices.

Geographical Focus: Wave primarily operates in Africa, with its headquarters located in Dakar, Senegal. The company’s mobile money app is designed to cater to the needs of users across the continent, particularly in regions where traditional banking services may be limited.

Founders and Leadership: Wave was founded by Drew Durbin, who serves as the CEO of the company, and Lincoln Quirk, who holds the position of Chief Product Officer (CPO). Both founders have been actively involved in driving the company’s vision of creating affordable and accessible financial solutions for Africa.

Team Size and Growth: The company has rapidly expanded its team since its founding, with a reported team size of 1,500 employees. This growth indicates the company’s dedication to building a robust infrastructure and delivering valuable financial services to its users.

Financial Inclusion and Accessibility: Wave’s mobile money app is designed to provide financial services to individuals who may not have easy access to traditional banking systems. By leveraging mobile technology, the company aims to bridge the gap and provide a convenient and inclusive way for people to manage their finances.

Partnerships and Backing: Wave has received support and recognition within the startup ecosystem. The company has participated in the Y Combinator accelerator program, which provides resources and mentorship to help startups grow and succeed. The founders’ participation in Y Combinator’s Startup School demonstrates their commitment to building a successful and impactful business.

In summary, Wave is a fintech company with a mission to create affordable and accessible financial services for Africa through its mobile money app. The company’s focus on addressing financial inclusion challenges, coupled with its rapid growth and partnerships, highlights its dedication to making a positive impact on the financial landscape of the African continent.


Empowering Users with Personalized Financial Insights


true bill

Type: Live your best financial life
Year founded: 2015
Team Size:225
Location: Silver Spring, MD
CEO:Yahya Mokhtarzada

Truebill, formerly known as Rocket Money, is a leading personal finance app that empowers individuals to optimize their financial health and make the most of their money. The company was founded in 2015 and has its headquarters in Silver Spring, Maryland, with additional offices in San Francisco. Here are more details about the company:

Mission and Services: Truebill’s mission is to help people live their best financial lives by providing a comprehensive suite of services to improve their financial well-being. The app analyzes users’ spending habits, identifies areas of inefficiency, and offers immediate methods to enhance their financial situation. Truebill enables users to optimize their spending, manage subscriptions, negotiate lower bills, and even automatically set aside money to achieve their savings goals.

Financial Benefits: Truebill has achieved significant financial benefits for its users. Since its founding in 2015, the company has saved its members more than $100 million through its various financial optimization tools and services. By offering insights, strategies, and actions to improve financial health, Truebill contributes to its users’ financial success.

Leadership and Founders: Truebill was founded by Yahya Mokhtarzada, who serves as the CEO of the company. Under his leadership, Truebill has become a prominent player in the personal finance app space. The company’s co-founder, Haroon Mokhtarzada, is a serial entrepreneur and angel investor with a successful track record of building and selling businesses. Idris Mokhtarzada is the CTO of Truebill, contributing to the technical development and innovation of the platform.

Funding and Recognition: Truebill has garnered attention and support from prominent venture capital firms and investors. The company is backed by well-known investment entities, including Accel, Bessemer Venture Partners, Eldridge Industries, and YCombinator. The acquisition of Truebill by Rocket Companies for $1.3 billion further validates the company’s value and impact in the fintech industry.

User-Centric Approach: Truebill focuses on delivering a user-centric experience, providing individuals with insights, tools, and strategies to make informed financial decisions. By offering services that optimize financial management, reduce unnecessary expenses, and promote savings, Truebill helps its users achieve their financial goals.

Team Size and Growth: Truebill has grown substantially since its inception, with a reported team size of 225 employees. The company’s growth reflects its commitment to providing high-quality financial services and continuously improving its offerings.

In summary, Truebill is a fintech company that offers a comprehensive personal finance app designed to enhance users’ financial well-being. Through its unique suite of services, Truebill empowers individuals to make smarter financial decisions, optimize their spending, and achieve their savings goals. The company’s user-focused approach, substantial savings achievements, and recognition in the industry highlight its commitment to helping people live their best financial lives.


Navigating Financial Decisions with Data-Driven Advice



Type: Marketplace connecting consumers to financial advisors.
Year founded: 2012
Team Size:300
Location: New York
CEO: Michael Carvin

SmartAsset is a fintech company that operates as a marketplace connecting consumers to financial advisors. The company was founded to provide free, data-driven advice to help individuals make informed and impactful financial decisions. Here are more details about the company:

Mission and Services: SmartAsset’s mission is to use data-driven insights to offer actionable advice for significant financial decisions. The company guides a range of financial topics, including home buying, retirement planning, credit cards, life insurance, student loans, refinancing, and checking accounts. SmartAsset’s service is powered by a decision engine and optimization tool that evaluates various strategies, quantifies the true costs of financing options, and recommends specific financial products based on individual suitability and cost.

Data-Driven Approach: SmartAsset distinguishes itself by leveraging data and technology to deliver personalized financial advice. The company’s platform uses sophisticated algorithms to analyze user-specific financial situations, enabling them to make well-informed choices aligned with their needs and goals.

Marketplace for Financial Advisors: SmartAsset operates as a marketplace, connecting consumers with qualified financial advisors who can provide expert guidance tailored to each individual’s unique circumstances. By facilitating this connection, SmartAsset helps users access professional financial advice that aligns with their needs and aspirations.

Achievements and Recognition: SmartAsset has gained recognition within the fintech industry for its innovative approach to providing accessible financial advice. The company was highlighted as a unicorn—reaching a valuation of $1 billion—in a TechCrunch article, underscoring its impact and growth.

Team and Location: SmartAsset boasts a team of approximately 300 individuals working to fulfil the company’s mission. The company is headquartered in New York, reflecting its presence in a key financial hub.

Founder and Leadership: SmartAsset’s CEO and founder, Michael Carvin, leads the company’s efforts to provide data-driven financial advice and connect users with suitable financial advisors. Under his leadership, SmartAsset has grown and evolved to become a prominent player in the fintech space.

Job Opportunities: SmartAsset offers various job opportunities for professionals in the tech and financial sectors. The company seeks individuals with expertise in areas such as software engineering, marketing, and more.

In summary, SmartAsset is a fintech marketplace that leverages data and technology to provide free, personalized financial advice to consumers. By connecting users with financial advisors and offering insights into significant financial decisions, SmartAsset empowers individuals to make informed choices aligned with their financial goals. The company’s data-driven approach, marketplace model, and mission to democratize financial advice highlight its commitment to improving financial literacy and decision-making.

Spandana Andela
About author


Meet Spandana Andela, a remarkable individual who wears multiple hats with finesse. As an AI Copywriter and Engineer, she navigates the intersection of technology and storytelling, creating a unique fusion that captivates audiences. Beyond her professional pursuits, Spandana is also a passionate storyteller, weaving narratives that resonate on a personal level. What sets her apart is not only her expertise but also her role as a mother, adding depth and richness to her experiences. Dive into the world of Spandana Andela, where innovation, creativity, and the joys of motherhood converge in a truly inspiring journey.
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