The 10 Biggest Fintech Companies In America In 2022 | Forbes

it's turning into a sobering year for the fintech industry after mega funding rounds and new unicorns in 2021 private fintech companies are now scrambling to cut costs and stretch out the funds they have to avoid raising more money at a lower valuation with publicly traded fintech companies down more than 50 percent since november venture capitalists are pumping the brakes on funding for the sector startups that said it's still been quite the ride fueled in part by the pandemic accelerated shift to more shopping and banking done online in february 2020 just before covet 19 hit the average valuation of america's 10 biggest private fintech companies was 9 billion and the cutoff to make the list was 3.7 billion dollars for this year's list those numbers have more than tripled here are the 10 biggest fintech companies in america for 2022. at number 10 is good leap worth 12 billion dollars the california-based company makes it easier for users to make green home upgrades contractors and vendors use goodleaps app to get customer project loans approved for solar panel installation and 20 other categories of sustainable improvements at number nine is brex also worth 12 billion dollars the company provides fdic insured corporate cash management accounts and corporate credit cards with no account fees travel rewards and built-in expense tracking its tens of thousands of customers include class classpass airbnb and carta openc takes number 8 on the list valued at 13.3 billion dollars a big winner of 2021's nft craze open c is a peer-to-peer platform where users can create trade buy and sell nfts the company keeps a 2.5 percent cut of each sale and has processed about 3 billion dollars in nft transactions every month openc maintains dominance in the nft space but key competitors like coinbase are trying to close the gap plaid is at number 7 with 13.4 billion dollars the company helps fintech apps like venmo connect to customer bank accounts to make payments and deposits easier earlier this year platt acquired identity verification and know your customer or kyc compliance provider cognito for 250 million dollars at number six is blockchain.com worth 14 billion the british crypto exchange is the world's most popular cryptocurrency wallet which allows users to manage their private keys for several currencies it has expanded to the us and can now serve customers in 35 states number five is ripple worth 15 billion dollars the company facilitates international payments and remittances through blockchain technology and its dedicated cryptocurrency xrp ripple has more than 300 institutional clients including standard chartered and moneygram the sec is suing ripple for alleged illegal securities offerings through the sale of xrp but the company's ceo says he may consider going public once the lawsuit is settled chime comes in at number four with a valuation of 25 billion dollars the largest digital bank in the u.s chime rose in popularity by providing free checking accounts with no overdraft fees and offering cash advances to its customers the company was preparing to go public earlier this year but delayed the ipo due to the rocky market at number three is ftx one of the largest crypto exchanges in the world the bahamas based company is worth 32 billion dollars after a 500 million dollar raise in january eager to become a household name it has been spending hundreds of millions of dollars on marketing and acquiring celebrity brand ambassadors number two is klarna with a valuation of 46 billion dollars a pioneer of the buy now pay later model klarna banked on customers moving away from credit cards but still wanting to pay over time the company makes most of its revenue by charging retail partners for affiliated marketing and payment services clarner made the number two spot at the time of this list publication however its valuation has since plummeted to 6.7 billion dollars still the company has raised 800 million dollars in fresh funding and finally at the number one spot on the list is stripe with a 95 billion dollar valuation the company helps big and small businesses process online payments take out loans and automatically calculate and collect sales tax the company remains the most valuable american private fintech and is the world's fourth most valuable private company following tick tock owner bite dance spacex and chinese fast fashion seller sheen

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Keywords: Forbes, Forbes Media, Forbes Magazine, Forbes Digital, Business, Finance, Entrepreneurship, Technology, Investing, Personal Finance, FinTech50, Financial Technology, Klarna, Goodleap, Brex, OpenSea, Plaid, Blockchain.com, Ripple, Chime, FTX, Stripe

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Length: 4min 41sec (281 seconds)

Published: Tue Jul 19 2022