To choose the top global firms, Statista used a rigorous method that evaluated a few key business metrics and fundamentals, including revenue and the number of employees. Since many fintech businesses are privately held, they aren’t required to disclose their accounts publicly. The voluntary sharing of information about business models was key to analysing the market.
The U.S. is the Home to the most valuable Fintech
The nine categories included neobanking, digital payments, digital assets, digital financial planning, digital wealth management, alternate financing, alternate lending, digital banking solutions, and digital business solutions.
The U.S. is home to the most valuable financial technology companies in the world in 2023. The country produces the most value in terms of fintech, with eight of the top 15 highest-valued financial technology companies in the world worth a combined USD 1.2 trillion based stateside. Visa and Mastercard are the two biggest Fintech firms by market value, with a collective market capitalization of USD 800.7 billion.
There is the second-most highly valued fintech industry in China, with mega-payments firms like Tencent and Ant Group. Its financial technology giants are worth a combined USD 338.92 billion in total market capitalization.
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While the U.S. was home to 65 of the top fintech companies, the U.K. was a close second with 15 of the top 200 fintech names globally. The European Union is home to 55 top fintech companies.
History written in Silicon Valley
The top global fintech companies include names like Stripe, PayPal, and Intuit. These are all companies with significant shares in their respective markets and hallmark products used by thousands, if not millions, of businesses both big and small.
The U.S. has a vibrant fintech market, not least thanks to its deep-pocketed investors. Silicon Valley is a natural home for the sector given its storied history of birthing some of the world’s largest technology companies, like Apple, Meta, Google, and Amazon, and a well-established venture capital ecosystem with major players such as Sequoia Capital and Andreessen Horowitz present.
The U.K., similarly, has a prominent fintech industry. The country has managed to produce significant contributions in the fintech world, from digital banking behemoth Monzo to listed payments firm Wise. Still, the technology industry’s problems generally have been compounded by Brexit, which critics argue is limiting foreign investment.
In Europe, a combination of the Russian invasion of Ukraine, the aftermath of COVID-19 lockdowns, and resulting interest rate increases have impacted most major economies.
The highest Number of Unicorns in the UK
Supported by governmental policy, the U.K. has a significant number of richly valued unicorn companies in the country; Britain stands only second to the U.S., which hosts most of the world’s fintech unicorns. (Unicorns are defined as venture-backed companies with a valuation of USD 1 billion or more.)
Some of the biggest unicorns include online banking startup Revolut (USD 33 billion), crypto wallet provider Blockchain.com (USD 14 billion), and digital payments groups Checkout.com (USD 11 billion), Rapyd (USD 8.75 billion), and SumUp (USD 8.5 billion).
According to the Statista and CNBC survey, other leading ecosystems for fintech unicorns include India, with 17 unicorns, and China, with eight. France, Brazil, and Germany each have six fintech unicorns. Standing in 8th place is Mexico, with five fintech unicorns; Singapore, also with five; and the Netherlands, which has four in total.
