Top 20 Most Valuable Fintech Companies in the US
In this article, we will discuss the top 20 most valuable fintech companies in the US. If you want to skip our detailed analysis of the fintech industry, you can go directly to the Top 5 Most Valuable Fintech Companies in the US.
An Analysis of the Global Fintech Market
Fintech, or financial technology, is becoming increasingly important in the financial services industry due to its ability to leverage technology to create innovative solutions for various branches of finance. According to a report by Mordor Intelligence, the global fintech market is estimated to have reached a value of $228.24 billion in 2024. The market is expected to grow at a compound annual growth rate (CAGR) of 11.72% during 2024-2029, pushing the fintech market to reach $397.24 billion by the end of the forecasted period. The North American region accounts for the largest market share.
The high cost of traditional finance and high banking sector mark-ups have led to a surge in the adoption of fintech in various regions around the world. Changing needs and expectations of the customers combined with advancements in digital technologies, such as artificial intelligence (AI), blockchain, and automation are key factors driving growth in the global fintech market. Let’s take a look at what some of the biggest companies in the fintech market are up to.
Major Players in the Fintech Market
With established players and startups coexisting and competing, the fintech market is expected to continue growing in the coming years. Some of the most prominent names in the global fintech market are Visa Inc. (NYSE:V), Mastercard Incorporated (NYSE:MA), and Intuit Inc. (NASDAQ:INTU).
Intuit Inc. (NASDAQ:INTU) is an American multinational financial technology company that specializes in financial software. The company’s product portfolio includes the personal finance app Mint, the credit monitoring service Credit Karma, the tax preparation application TurboTax, and the small business accounting program QuickBooks. On January 8, Intuit Inc. (NASDAQ:INTU) announced that members of Credit Karma and customers of QuickBooks Online will now be able to prepare and file their 2023 taxes using TurboTax directly within the Credit Karma and QuickBooks Online product interfaces. By leveraging Intuit Inc.’s (NASDAQ:INTU) AI-platform capabilities and the tax knowledge engine that powers TurboTax, along with the personal and financial data already available in Credit Karma or QuickBooks, these integrations aim to provide a more seamless and personalized tax preparation and filing experience for both small business owners and individual tax filers.
Visa Inc. (NYSE:V) is an American multinational corporation that specializes in providing payment card services and facilitates digital payments and electronic funds transfers. On January 16, Visa Inc. (NYSE:V) announced that it has completed its acquisition of Pismo. Pismo is a global cloud-native issuer processing and core banking platform. This transaction, which is now complete, will enable clients to access core banking and card-issuer processing capabilities across all product types through cloud-native APIs. Pismo's platform will also allow Visa Inc. (NYSE:V) to provide support and connectivity for emerging payment schemes and real-time payment networks for financial institutions.
Visa Inc. (NYSE:V) and Mastercard Incorporated (NYSE:MA) rank high among the best fintech stocks to buy in 2024. On January 31, Mastercard Incorporated (NYSE:MA) reported strong earnings for the fiscal fourth quarter of 2023, reflecting strong demand for fintech products and services. The company reported earnings per share (EPS) of $3.18, surpassing EPS estimates by $0.10. Mastercard Incorporated’s (NYSE:MA) revenue for the quarter grew by 12.57% year-over-year and amounted to $6.55 billion, ahead of market consensus by $63.04 million.
Now that we have discussed what’s going on in the global fintech market, let’s take a look at the 20 most valuable fintech companies in the US.
Methodology
In this article, we have listed the top 20 most valuable fintech companies in the US. To find the biggest fintech companies in America, we sifted through various sources including our own rankings, others' rankings, industry reports, and we also consulted stock screeners from Yahoo Finance and Finviz. For companies that are publicly traded, we decided to rank them according to their market capitalization as of February 12, 2024. To quantify the "value" of a private company, we relied on its estimated valuation, annual revenue, or number of employees, subject to availability of data. The estimated valuation was sourced from major media reports, while the annual revenue or number of employees was sourced from companies' official statements. Finally, we narrowed down our selection to rank the top 20 most valuable fintech companies in the US based on their market capitalization or alternative metrics for private companies, in ascending order.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
Top 20 Most Valuable Fintech Companies in the US
20. Robinhood Markets Inc. (NASDAQ:HOOD)
Market Capitalization: $10.38 Billion
Robinhood Markets Inc. (NASDAQ:HOOD) is an American financial services company that operates an electronic trading platform to facilitate commission-free trading of stocks, exchange-traded funds, and cryptocurrencies. Robinhood Markets Inc. (NASDAQ:HOOD) has a market capitalization of $10.38 billion as of February 12, 2024. It ranks among the top 20 most valuable fintech companies in the US.
19. Toast Inc. (NYSE:TOST)
Market Capitalization: $10.81 Billion
Toast Inc. (NYSE:TOST) is an American fintech and restaurant management software company. It provides a single platform of software as a service (SaaS) products and financial technology solutions that are purpose-built for restaurants. As of February 12, 2024, Toast Inc. (NYSE:TOST) has a market capitalization of $10.81 billion.
18. Bolt Financial Inc.
Estimated Valuation: $11 Billion
Bolt Financial Inc., also known as simply Bolt, is an American financial technology company. As one of the most valuable fintech companies in the US, Bolt provides merchants with software to facilitate one-click online checkouts. According to The New York Times, Bolt Financial Inc. is valued at $11 billion, as of May 2022.
17. Ally Financial Inc. (NYSE:ALLY)
Market Capitalization: $11.2 Billion
Ally Financial Inc. (NYSE:ALLY) is an American digital financial services company that ranks among the most valuable fintech companies in the US. The company operates one of America’s largest all-digital banks and an industry-leading auto financing business. Ally Financial Inc. (NYSE:ALLY) has a market capitalization of $11.2 billion as of February 12, 2024.
16. Ripple Labs Inc.
Estimated Valuation: $11.3 Billion
Ripple Labs Inc. is an American cryptocurrency and technology company. The company develops the Ripple payment protocol and exchange network. As one of the top fintech companies, it offers blockchain solutions for finance that are faster, more transparent, and more cost-effective than traditional financial services. According to Reuters, Ripple Labs Inc. is valued at $11.3 billion, as of January 2024.
15. Deel
Estimated Valuation: $12 Billion
Deel is an American payroll and compliance provider that helps companies manage an international workforce. The company provides hiring and payment services for businesses and corporations hiring international employees and contractors. According to Forbes, Deel is valued at $12 billion, as of January 2023. It ranks among the top 15 most valuable fintech companies in the US.
14. Brex Inc.
Estimated Valuation: $12.3 Billion
Brex Inc. is an American financial services and technology company. As one of the top most valuable fintech companies in America, it offers no-fee corporate cards with travel rewards and expense tracking, bill payment, and startup debt financing. According to CNBC, Brex Inc. is valued at $12.3 billion, as of May 2023.
13. OpenSea
Estimated Valuation: $13.3 Billion
OpenSea is one of the world’s largest digital marketplaces for crypto collectibles and non-fungible tokens (NFTs). It creates tools that allow creators to launch new digital works and consumers to buy, sell, and discover exclusive digital items. According to The New York Times, OpenSeas is valued at $13.3 billion as of January 2022.
12. Plaid
Estimated Valuation: $13.4 Billion
Plaid is a financial services company that ranks 12th on our list of the top most valuable fintech companies in the US. Plaid helps companies build fintech solutions and digital finance products. The company’s technology platform allows consumers to connect their bank accounts to an app or service to carry out digital payments. According to Forbes, Plaid is valued at $13.4 billion, as of April 2021.
11. Affirm Holdings Inc. (NASDAQ:AFRM)
Market Capitalization: $13.8 Billion
Affirm Holdings Inc. (NASDAQ:AFRM) is an American fintech company that provides a buy now, pay later service for online and in-store shopping. It is one of the biggest companies in the US buy now, pay later sector. As of February 12, 2024, Affirm Holdings Inc. (NASDAQ:AFRM) has a market capitalization of $13.8 billion.
10. Chime
Estimated Valuation: $25 Billion
Chime is an American financial technology company that ranks among the top 10 most valuable fintech companies in the US. It partners with banks to provide banking products and services including mobile banking services, peer-to-peer payments, checking accounts, high-yield savings accounts, and interest-free secured credit cards. According to CNBC, Chime is valued at $25 billion, as of May 2023.
9. Coinbase Global Inc. (NASDAQ:COIN)
Market Capitalization: $35.24 Billion
Coinbase Global Inc. (NASDAQ:COIN) is an American technology company that operates a cryptocurrency exchange platform. As a distributed company, it offers a trusted and easy-to-use platform to invest, spend, save, earn, and use crypto. As one of the most valuable fintech companies in the US, Coinbase Global Inc. (NASDAQ:COIN) has a market capitalization of $35.24 billion as of February 12, 2024.
8. Block Inc. (NYSE:SQ)
Market Capitalization: $43.5 Billion
Block Inc. (NYSE:SQ) is an American financial services and digital payments company. The company’s product portfolio includes a consumer focused app “Cash App”, a buy now, pay later service “Afterpay”, and “Square”, which is a financial services platform for small and medium-sized businesses. As of February 12, 2024, Block Inc. (NYSE:SQ) has a market capitalization of $43.5 billion. Block Inc. (NYSE:SQ) is one of the most promising fintech stocks to buy as well.
7. Stripe Inc.
Estimated Valuation: $50 Billion
Stripe Inc. is an Irish-American multinational financial services company. Helping millions of companies accept payments, send payouts, and automate financial processes, Stripe Inc. offers payment-processing software and application programming interfaces for e-commerce websites and mobile applications. According to CNBC, Stripe Inc. is valued at $50 billion, as of March 2023.
6. PayPal Holdings Inc. (NASDAQ:PYPL)
Market Capitalization: $64.4 Billion
PayPal Holdings Inc. (NASDAQ:PYPL) is an American multinational financial technology company that operates an online payments system to support money transfers. As one of the top fintech companies in the world, PayPal Holdings Inc. (NASDAQ:PYPL) has a market capitalization of $64.4 billion as of February 12, 2024. It ranks 6th on our list of the most valuable fintech companies in the US.
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Disclosure: None. Top 20 Most Valuable Fintech Companies in the US is published on Insider Monkey.
