As the financial industry changes and evolves with new technologies, staying on top of trends becomes more crucial. The best way for this is to keep an eye out for innovative companies emerging as leaders in fintech.
There are a number of predictions for the future of fintech, as well as numerous companies attempting to shape the sector. As a result, we have compiled a list of the ten fastest-growing fintech companies to watch in 2022.
In 2008, Paidy began as a Japanese payments firm that allows consumers to purchase items and pay later. In more recent years, it expanded to offer financing options on Rakuten, Japan’s largest online retailer, and Amazon.co.jp. The future for Paidy looks set as it currently has over 6,000,000 users and continues to expand, with a workforce of over 145 staff. In 2021, the fintech company secured $120m (USD) in new funds, it was also acquired by PayPal for $2.7bn (USD).
9) Papaya Global
The Israeli software as a service (SaaS) platform Papaya Global was founded in 2016 to automate international payroll and HR procedures. The company enables businesses worldwide to access a network of preferred vendors. As more businesses are predicted to choose SaaS services over on-premise software, Papaya Global is ideally placed to benefit. The firm has an expanding workforce of 245 personnel, and it secured $250 million (USD) in new investment this year.
8) Grab Financial Group
In 2018, Grab Financial Group started providing digital-only payments, financing, insurance, rewards, and investment-related services. The Singaporean company has a staff of 150 individuals and is on track to become one of Asia’s most prominent fintech startups. It is a separate unit of Grab, the ride-hailing app. In 2021, it raised $300m (USD) in new capital from investors.
7) Dapper Labs
Based in Canada, Dapper Labs is the company behind the viral success of CryptoKitties. The fintech startup was formed in 2018 to create game-related products using blockchain technology and has over 252 employees, including former staff from companies like EA Sports, Hasbro, Disney, Amazon, and Zynga. In 2021, it secured $550m (USD) in new funding for further expansion.
In 2015, Rapyd launched as a full-service provider of payments that integrates fintech services. The company provides merchants with a payment platform that Rapyd can easily integrate into any existing app or website, including WordPress, Wix, and Shopify. They are headquartered in the UK and have 320 employees. In 2021, they raised $600 million (USD) of capital to grow their business.
In 2004, payments integration business Mollie was founded in the Netherlands. The company provides a range of services, including online payment processing for merchants and user-friendly payment options for end-users. It has since grown into a workforce of over 515 individuals and secured $675m (USD) of new funding from investors this year to support the company’s expansion.
Launched in 2008, Fenergo develops software for financial services companies such as asset managers and investment banks to assist them with compliance requirements. The company’s flagship product, Client Lifecycle Management (CLM), enables organisations to identify clients, manage their information, and monitor transactions in real-time while complying with regulations at the same time. The Ireland headquartered startup has a workforce of more than 700 employees and received funding of more than $600m (USD) this year.
3) Trade Republic
Trade Republic is a Germany-based exchange that was founded in 2015. It allows customers to trade financial products, including cryptocurrencies and publicly listed securities. The company boasts a workforce of over 460 individuals who are committed to delivering the best trading experience possible for their app-based users. In 2021, Trade Republic raised $900m (USD) in new capital from investors to use towards platform development and growth.
As one of India’s biggest fintech startups, BharatPe provides business owners with app-based payments and card acceptance options. It offers zero transaction fees and no monthly costs, making it one of the most appealing alternatives for small and medium-sized businesses wanting to expand in India. In addition, the company also offers a card payments machine so business owners can accept card payments at physical locations.
BharatPe was founded in 2018 and also boasts a P2P lending solution called the 12% Club to enable alternative financing options that are not available through traditional banks. It has a workforce of over 1,100 employees and received funding of $545m (USD) this year from investors to develop new products and services.
US-based company BlockFi was founded in 2017 and specialises in crypto-asset lending. The company provides loans in USD, GBP, or EUR against cryptocurrencies like Bitcoin (BTC), Ethereum (ETH) or Litecoin (LTC). It is a platform of choice for people who are looking to take advantage of their cryptocurrency assets while maintaining access to liquidity.
BlockFi also provides a variety of financial services, including an interest rate account for cryptocurrency holders. The company also has a trading platform, allowing instant exchange of crypto-assets for individuals. It also boasts the first credit card in the world to reward Bitcoin. Over 850 people work for the fintech company, which secured $850m (USD) of new funding in 2021.