The fintech industry is booming, and there are countless startups that are looking to make their mark on the world. While many of these startups will fail, there are a select few that will rise to the top and change the way we think about finance. In this blog post, we will take a look at some of the most promising fintech startups and see what the founders are doing to innovate. We will also explore some of the challenges that they face and discuss how they plan to overcome them. So without further ado, let’s get started!
1. Atom Bank
Atom Bank is a UK based startup that was founded in 2014. The company is focused on creating a mobile-only bank that is accessible to everyone. The startup has raised over $200 million in funding and is currently working with HSBC to launch its services in the UK market. It aims to make banking easier for consumers, by offering a simple interface and providing useful financial tools like calculators or budgeting apps on its app store called “Atom Hub.”
2. N26
N26 is a German-based startup that was founded in 2013. The company has raised over $215 million and has more than one million customers. They are known for their innovative banking app which offers consumers an easy way to manage their finances from anywhere using just the phone’s fingerprint sensor or facial recognition software, making it much safer than traditional pin codes. The company also has an app called “N26 Now” which allows users to make quick and easy payments through their smartphones while they’re out shopping at any store that accepts cards like MasterCard or Visa (not just in Germany).
3. Revolut
Revolut is a British startup that was founded in 2015. It has raised over $83 million and has more than two million customers. The company is known for its innovative mobile app which allows users to spend, exchange, and hold multiple currencies all in one place. It also offers a “Vaults” feature which allows users to save money by rounding up their purchases to the nearest pound and depositing the difference into a savings account with no fees or minimum balance requirements. They also provide an “ATM finder” so you can always know where your nearest cash point is located at any given time of day or night!
4. Wise
Wise (formerly Transferwise) was founded in London, England in 2011. It has raised over $236 million and has more than two million customers. The company is known for its innovative peer-to-peer money transfer system which allows users to send and receive money at a fraction of the cost of traditional banks. In fact, the company advertises that it can send money from Europe to Australia for just $12 compared with up to $60 charged by many banks. The company also offers a “Borderless” account that allows people living outside their home country access local banking services like direct deposits and debit cards so they don’t have any trouble receiving payments while abroad!
5. Klarna
Klarna is a Swedish startup that was founded in 2005. The company has raised over $290 million and has more than six million users. It’s known for its innovative financial services platform which offers consumers an easy way to pay online without any hassle or risk from fraud (through their “Pay Later” option) as well as manage their money and credit score. Klarna also offers a “Smoooth” payment system that allows consumers to make one-click payments for their online purchases without having to enter in any credit card information or shipping addresses!
6. Square
Square was founded by Jack Dorsey (co-founder of Twitter) in 2009. The company has raised over $850 million and has more than six million customers. It’s known for its innovative payment processing service which allows consumers to make purchases right on their phones or tablets with just one swipe of the screen – no need to carry any cash around! Square also offers a “Cash App” that gives you access local banking services like direct deposits and debit cards so you can always have cash on hand when you need it.
7. Stripe
Stripe was founded in 2010 by two brothers, Patrick and John Collison. The company has raised over $450 million and has more than one million customers. It’s known for its innovative online payment processing service which allows businesses to easily accept payments from anywhere in the world without having to worry about any complex setup procedures or security risks. In addition, Stripe also offers a ” Atlas” program which helps entrepreneurs from all over the world start and grow their own online businesses without having to leave their home country!
8. Robinhood
Robinhood is a financial services company that allows users to invest in stocks for free. The startup was founded by Baiju Bhatt and Vlad Tenev in 2013, with $13 million raised since then including an investment round led by Sequoia Capital in July 2015.
9. Affirm
Affirm is a startup that provides financing for consumers buying items online. The company was founded in 2012 by Max Levchin, who also co-founded PayPal and Slide. Affirm has raised over $100 million from investors including Khosla Ventures, Lightspeed Venture Partners, Andreessen Horowitz, and more.
10. SoFi
Social Finance (SoFi) is a financial services company that offers student loans, mortgages and personal loans to its customers. The startup was founded in 2011 by Mike Cagney who previously worked at Wells Fargo. SoFi has raised over $500 million from investors including Renren, Baseline Ventures, and more.
These startups are on the forefront of innovation in fintech, and we can’t wait to see what they do next. If you want to stay up-to-date on their latest news, or get tips on how to start your own fintech company, be sure to check back with us often. In the meantime, keep an eye out for these innovative startups!
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