Top 10: Fastest Growing Fintechs From the Past Year

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In this Top 10, we track some of the fastest growing fintechs from the past year
In This Top 10, we look at the fastest-growing fintechs from the past year, featuring emerging startups from North America, South America, Europe and Asia

The fintech industry at large is a rapidly evolving sector. In this Top 10, we track some of the fastest growing among those from the past year, featuring companies from North and South America, Europe and Asia. 

10. Square

The US fintech Square, founded by Block, is one of the biggest in the world today. Square empowers SMEs to seamlessly process credit card transactions, promoting the use of small devices such as smartphones and tablets as point-of-sale (POS) terminals. The scale-up has expanded its service offerings in recent times too, to include Square Payroll, Square Market and Square Wallet. This came before the launch of its new digital till system and an update to its tablet POS technology. 

9. Jianpu Technology 

Jianpu Technology is one of the leading independent open platforms for discovering and recommending financial products and services in China. Jianpu’s open platform provides opportunities for investors looking to enter the fintech space, offering stocks in the likes of Nubank, PayPal, Visa and SoFi. The fintech tailors financial offerings to each user's financial needs and credit ratings while enabling financial services providers with sales and marketing solutions to meet their target customers. With solutions for online and mobile channels, Jianpu supports competition in finserv through its end-to-end solutions. 

8. Robinhood

US financial services firm and trading platform Robinhood stands out for its growth over the past year. Now a leader in providing commission-free stock, ETFs, and cryptocurrency trades, the company is gearing up for substantial growth in 2024, particularly after expanding its crypto trading services to the EU in the previous year. Furthermore, Robinhood plans to broaden its full-service options in the UK soon, allowing free trading access to 6,000 US stocks. This expansion aligns with the company's global strategy. Recent enhancements to the platform include extended trading hours, a stock lending platform and automated recurring investments.

7. NerdWallet

Founded by Tim Chen and Jacob Gibson in 2009, NerdWallet is one of the fastest-growing fintech companies today. Offering loans, insurance and credit card services to consumers, NerdWallet’s mission is to help nurture a stronger culture of financial planning in the US. The company expanded into the UK in 2020 after acquiring Know Your Money, a Norwich-based startup providing a similar portfolio of comparison and information tools tailored to UK consumers. NerdWallet went public on the Nasdaq stock exchange in 2021, and in 2023 had a reported 23 million average monthly users. 

6. Revolut

Revolut is the largest neobank in the UK and a major player in Europe. It recently revealed plans to provide mobile phone services in its native UK, a strategic move that aligns with its vision to evolve into a comprehensive mobile 'super app’. As it competes with established banks, Revolut has introduced new AI features to enhance card scam protection, recognising that a larger portfolio leaves it more vulnerable to cyber-attacks. Achieving these milestones is pivotal for Revolut's continued success, having already solidified its global fintech leadership with a presence in 150 countries, serving 35 million personal customers, and 500,000 businesses.

5. SoFi 

SoFi Technologies is a leader in lending and financial services today. Known for not charging any orientation fees, insufficient fund fees or late fees – SoFi’s offering brings peace of mind to the consumers that use it. Based in San Francisco, the fintech’s financial services offerings extend to student loan refinancing, mortgages, personal loans, credit cards and investment services. With banking services available through mobile app and desktop interfaces, SoFi saw its revenue grow a marked 47.38% between 2022 and 2023, making it one of the leading personal finance providers in the US.  

4. Adyen

Adyen is a leading payments gateway provider in Europe. Established in 2006, the fintech was founded by a cadre of entrepreneurs aiming to develop a platform that meets the demands of today’s rapidly expanding global enterprises. Today, Adyen is the preferred fintech platform for numerous leading companies worldwide, including Meta, Uber, H&M, eBay and Microsoft. With its comprehensive payments capabilities, data-driven insights and financial products within a unified global solution, Adyen equips businesses with the essential tools for seamless payments, scalability and enhanced consumer journeys. 

3. Wise

Formerly known as TransferWise, Wise has evolved to become a leader in international money transactions, offering swift, cost-effective transfers. Over time, Wise has expanded its services to include debit cards, multi-currency accounts and business accounts. In recent times, Wise has heightened its compliance efforts to meet regulatory standards globally by partnering with Frontier as part of its commitment to carbon reduction. And, in 2020, Wise secured its highest funding round ever, raising US$319m at a company valuation of US$5bn. D1 Capital Partners led the investment, with support from existing shareholder Lone Pine Capital. Headquartered in the UK, Wise maintains its leadership position in Europe and globally, with offices in London, Estonia, Turkey, Singapore and the US.

2. Nubank

South America’s leading fintech and neobank – and still its fastest growing – Nubank saw its revenue grow a massive 113.64% between 2022 and 2023, with its 3-year revenue growth at 77.8% despite a barrage of macroeconomic headwinds and the aftermath of the COVID-19 pandemic. A completely digital bank, Nubank is the leader of customer-centric financial services in Brazil, with more customers foregoing long-standing, traditional establishments in favour of the more seamless and convenient services Nubank provides. First founded in Brazil, Nubank now operates across Mexico and Colombia too, serving over 70 million customers. The figures are only rising for the South American neobank. 

1. LM Funding America

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With a trailing 12-month revenue growth of 339% between 2022 and 2023, LM Funding America is one of the fastest-growing fintechs in recent times. The company is a specialty cryptocurrency mining and technology-based finance company, providing funds to nonprofit community associations in the US states of Florida, Washington, Colorado and Illinois. LM Funding America provides nonprofit community associations with financial products tailored to their specific needs. For example, its Original Product consists of providing funds to associations by purchasing their rights under delinquent accounts. It also offers a New Neighbor Guaranty programme, where an association assigns any outstanding indebtedness and accruals on delinquent units to LM Funding America in exchange for payment on monthly dues related to each delinquent unit. The fintech’s unique operating model has seen it grow substantially, and take first spot on our list of Top 10 fastest-growing fintechs.

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