Top 10: Fintech Unicorns in the US

The US continues to dominate the global fintech landscape, hosting over half of the world's unicorn companies. 

The sector is experiencing rapid growth driven by technological innovation, changing consumer behaviour and regulatory developments. 

The US fintech market, valued at more than US$170bn, is expected to grow at a compound annual growth rate of 12% through 2028. 

From payments processing to digital banking, these unicorns are reshaping how consumers and businesses interact with financial services, with many preparing for highly anticipated public offerings in 2025.

10. Modern Treasury

• CEO: Dimitri Dadiomov (Co-founder)
• Headquarters: San Francisco, California
• Founded: 2018

Modern Treasury serves as the operating system for the new era of payments, helping companies unlock growth through modernised payment operations. Founded in 2018, the company provides payment operations software that automates the full cycle of money movement, from payment initiation through approvals to reconciliation. The platform offers APIs for money transfers and integrations with world-class banks, supporting various payment rails including ACH, wire transfers, FedNow and RTP. Modern Treasury has positioned itself as the market leader for modernising payment operations, forging partnerships with enterprises across multiple industries.

9. Upgrade

• CEO: Renaud Laplanche (Co-founder)
• Headquarters: San Francisco, California
• Founded: 2017

Upgrade operates as a comprehensive financial technology company that bridges traditional banking and modern digital finance. Founded in 2017, the company offers credit and mobile banking solutions to mainstream consumers, including personal loans, credit cards, and innovative payment products. Upgrade's flagship product, the Upgrade Card, provides consumers with a unique credit card that offers rewards when users pay down their balance. The company has distributed over US$37bn in credit to consumers and was recognised by the Nilson Report as the fastest-growing credit card in the US.

8. Chainalysis

• CEO: Michael Gronager (Co-founder)
• Headquarters: New York City, New York
• Founded: 2014

Chainalysis operates as a leading blockchain data platform providing analysis and compliance services for cryptocurrency transactions. Founded in 2014, the New York-based company serves over 350 customers including government agencies, exchanges, financial institutions, and cybersecurity companies across more than 70 countries. Chainalysis has achieved an US$8.6bn valuation and played crucial roles in high-profile cases, including assisting law enforcement in recovering over US$1bn from the Silk Road marketplace takedown and supporting investigations into terrorist financing campaigns.

7. Kraken

• CEO: Dave Ripley
• Headquarters: San Francisco, California
• Founded: 2011

Kraken operates as one of the world's longest-standing and most secure cryptocurrency exchanges, serving over 10 million individuals, traders, and institutions globally. Founded in 2011, the San Francisco-based company was among the first platforms to offer spot trading with margin, parachain auctions, staking, and regulated derivatives services. Kraken supports trading of more than 200 digital assets across six national currencies and has established itself as an industry leader in transparency through conducting the first Proof of Reserves audits in the cryptocurrency space.

6. Circle

• CEO: Jeremy Allaire (Co-founder)
• Headquarters: New York City, New York
• Founded: 2013

Circle has established itself as a leading player in the digital currency ecosystem through its stablecoin USDC, the second-largest stablecoin worldwide. Founded in 2013, the company bridges the gap between traditional financial systems and cryptocurrency by offering regulated digital currency solutions. Circle's USDC maintains a stable value pegged to the US dollar, with collateral held primarily in short-term US government securities. The company has received over US$135m in venture capital and recently relocated its headquarters from Boston to New York City to immerse itself deeper in the financial sector.

5. Brex

• CEO: Henrique Dubugras (Co-founder)
• Headquarters: San Francisco, California
• Founded: 2017

Brex provides corporate financial services specifically designed for startups and high-growth companies. Founded in 2017 by Brazilian entrepreneurs Henrique Dubugras and Pedro Franceschi, the Silicon Valley-based company offers business credit cards and cash management accounts to technology companies. Brex revolutionised business credit by providing instant approvals based on available cash balances rather than traditional credit histories, making it particularly attractive to venture-backed startups. The company achieved decacorn status in 2021 following two Series D funding rounds.

4. Plaid

• CEO: Zach Perret
• Headquarters: San Francisco, California
• Founded: 2012

Plaid operates as the essential financial data connectivity platform that enables fintech applications to securely connect with users' bank accounts. Founded in 2012, the company provides APIs that facilitate secure access to financial data and support services like account linking and transaction verification. Plaid's integration technology has become fundamental infrastructure for numerous fintech startups and platforms, powering connections between financial institutions and applications. The company's significance was highlighted when Visa attempted to acquire it for US$5.3bn in 2021, though antitrust regulators blocked the deal.

3. Chime

• CEO: Chris Britt
• Headquarters: San Francisco, California
• Founded: 2012

Chime has established itself as one of America's leading digital banks, offering fee-free mobile banking services that have attracted millions of customers seeking alternatives to traditional banking. Founded in 2012, the company provides mobile banking services through partnerships with The Bancorp Bank or Stride Bank, earning revenue primarily from interchange fees. The fintech achieved its current high valuation following a US$750m Series G funding round in 2021, led by Sequoia Capital Global Equities alongside General Atlantic and Tiger Global Management.

2. Ripple

• CEO: Brad Garlinghouse
• Headquarters: San Francisco, California
• Founded: 2012

Ripple operates as one of the leading blockchain-based payment settlement systems and cross-border money transfer networks. The company utilises its proprietary cryptocurrency XRP to facilitate international transactions on the Ripple network, providing faster and more cost-effective alternatives to traditional banking systems. Ripple serves financial institutions, payment providers, and corporations seeking efficient cross-border payment solutions. The company has faced regulatory challenges, including a high-profile legal battle with the US Securities and Exchange Commission regarding XRP classification.

1. Stripe

• CEO: Patrick Collison (Co-founder)
• Headquarters: San Francisco, California
• Founded: 2010

Stripe has reclaimed its position as the world's most valuable fintech unicorn with a remarkable comeback to a US$91.5bn valuation in 2025. Founded in 2010 by Irish brothers Patrick and John Collison, the company provides APIs for online payment processing, money transfers, and subscription management. Stripe has become integral to e-commerce infrastructure, enabling businesses of all sizes to accept payments and manage transactions seamlessly. The company processed financial transactions totalling US$817bn in 2022, representing a 26% increase, and now supplies over 100 companies that each process over US$1bn in payments annually.

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