By Gloria Methri
The FinTech industry is estimated to be worth over $130 billion as of 2022, with predictions of the valuation surpassing $400 billion by 2027. Utility Bidder has revealed which FinTech companies reached a $1 billion valuation the fastest this year, which companies are the most valuable, and which countries are home to the leading FinTech firms.
Let’s look at the top 5 most valuable FinTech companies in the world:
1. Stripe (US)
Stripe has been revealed as the most valuable FinTech company in the world, with a total valuation of $95 billion. After being established in 2010, it took the company 4 years to achieve unicorn status in early 2014.
2. Checkout.com (UK)
Checkout.com’s $40 billion valuation places them in second place. After being founded in 2009, the company took 10 years to achieve unicorn status.
3. Revolut (UK)
Tying up the top three is Revolut with a $33 billion valuation. The FinTech company reached a $1 billion valuation in 2018, taking less than 3 years from launch.
4. FTX (Bahamas)
FTX, having the fourth-highest $32 billion valuation, took only 811 days to achieve unicorn status. The crypto derivatives exchange firm was launched in 2019.
5. Chime (US)
Chime, one of the fastest-growing financial technology companies in the US, is valued at $25 billion. The decade-old firm joined the ranks of unicorns in 2019.
The research by Utility Bidder also revealed that PropTech start-up Pacaso reached unicorn status the fastest out of all the companies on the list, taking less than 6 months to reach a valuation of $1 billion. It is followed by Multi-Chain NFT Platform Magic Eden, which achieved the status in 9 months.
The United States took the crown for FinTech capital of the world, being home to 132 companies with a unicorn status. As per the research, FinTech companies in the US make up over 50% of all companies on the list. The UK has the second-highest number of FinTechs valued at over $1 billion with a total of 26. Except for one of these being based in Peterborough, all the rest are based in London.
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