The use of special algorithms and software provided by fintech innovators has made finance management more convenient and user friendly to consumers everywhere. Advancement of technology has provided consumers with the ability to perform services traditionally only available in banks from remote locations and without any hassle. There are many fintech start-ups and companies all over the world that provide some of the best financial services of today. Some of these companies even provide alternative financial services that are not conventionally available in traditional banks.
The Rise of Fintech Start-Ups
Some of the better known global fintech start-ups provide all kinds of financial services, both conventional and unconventional to consumers from all backgrounds. The services can be accessed by individuals or companies looking for specific needs. Some of the services offered by fintech start-ups include: –
- Alternative credit scoring
- Alternative insurance underwriting
- Transaction delivery
- Peer-to-peer loans
- Payment gateways
- Digital wallets
- Asset Management
- Open banking
- Streamlining the insurance industry
- Automated investments
- Services to the unbanked or underbanked
Leading Global FinTech Start-ups
The best FinTech start-ups provide the most basic financial services to consumers more conveniently. Apart from enhancing basic financial services, some fintech start-ups also provide alternative services not commonly found in banks. Some of the more popularly known fintech start-ups worldwide include: –
- Prodigy Finance
- Figure
- Nubank
- Judo Bank
- Stripe
- Klarna
- SoFi
- Dianrong
- Atom Bank
- WeLab
- PolicyBazaar
- Tradeshift
- Jiedaibao
- N26
- Toast
- Revolut
Fintech Start-Ups Backed by Global Leaders
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There are many fintech start-ups that have gotten the support of high-profile global tech leaders like Mark Zuckerberg and Jeff Bezos in way of investments. Some of them:
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Chipper Cash
Chipper Cash was able to raise $30 million in funding. Jeff Bezos also invested in this start-up to show his support for the financial technology industry. Chipper Cash is an African based fintech start-up that has caught the attention of many global leaders like Bezos. This particular start-up enables users across the continent of Africa to have money transactions easily and avail other basic financial services.
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Beacon
Beacon is a UK based fintech start-up company that has also caught the attention of Jeff Bezos who has invested in the start-up. The main aim is to provide financial services to people that will help them increase revenue and save time. Beacon is looking to improve productivity, create technological solutions to multiple financial issues and fulfil a broad spectrum of financial needs.
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Wagestream
Wagestream is a UK based fintech company that is backed by big names in the tech industry like Mark Zuckerberg and Jeff Bezos. Wagestream is looking to eradicate payday loans by providing better financial services to people. Funded by many social impact charities that are backed by names like Zuckerberg and Bezos, Wagestream is looking to bring security and stability financially to the people.
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Fundbox
Fundbox is an American fintech start-up. The main aim of this start-up is to revolutionise B2B transactions by changing the way funds flow to help small business owners and freelancers. Fundbox provides simplicity and transparency to borrowers. Bezos Expeditions, along with other companies, have combined to provide $50 million to fund this start-up.
The growing number of fintech start-ups emerging worldwide are changing the game for financial services today.
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