The financial service industry now continues to attract tech companies that transform how people and businesses save, spend, borrow and invest and this is also attracting funding that can be helped in the growth of the companies. As more and more companies pour into the fintech space, it can be tough to sift through them and identify the major players. The explosion of fintech startups is quite surprising. Most financial institutions such as banks have made tech-driven changes. The market has been witnessing a great shift from digital loans and mobile stock services to eCommerce payment platforms and digital modes of currency exchanges that are rooted in digital financial access. This article lists the top 10 fintech startups making waves in the fintech sector.
Forward Financing is a Boston-based financial technology company that provides fast, flexible working capital to small businesses nationwide. Its dedicated account representatives and advanced proprietary technology help customers spend less time finding capital and more time growing their business. With a simple, secure online application, business owners can trust Forward Financing for approvals within minutes, funding within hours, and personalized support when they need it most. Since 2012, Forward Financing has expanded Main Street's access to credit by providing over $1.2 billion in funding to more than 30,000 small businesses. The company is A+ rated by the Better Business Bureau and consistently receives top ratings across all major customer review platforms. Forward Financing has been named by both Inc. Magazine and the Boston Business Journal as one of the fastest-growing companies in Massachusetts each year since 2017. Forward Financing is committed to helping more small business owners succeed and achieve their full potential.
Fyp is a numberless prepaid card for teenagers, empowering them with financial literacy. With Fyp Prepaid card, you can make online and offline payments without setting up a Bank Account. The company employs innovative technology to make the process of learning and managing expenses easier for these young, fierce, tech-savvy brains. It is a prepaid card for teenagers and their parents to easily manage their online as well as offline transactions. To give it a twist, it has employed gamification features that will help to inculcate financial literacy in teenagers. Not only this, but they can also check their spending analysis on the app.
Gravity Payments delivers friendly, world-class, in-house customer service. It serves over 13,000 merchants across America, saving them millions in fees and hours of frustration. It strives to make credit card processing as simple as possible. Its specialties include mobile credit card processing, POS solutions, electronic payment processing, working capital funding, integrated payments, Wechat pay, AliPay, affordable merchant services, best credit card processor, best merchant services, accept payments, recurring billing, and eCommerce.
Hyperface helps companies launch their own credit card program in a matter of 4-8 weeks, as opposed to 18-24 months. Hyperface offers customizable SDKs and APIs to make people design the credit card program of the future for their customers. The startup's key clients include eCommerce companies, neobanks, and fintech looking to offer credit cards to their customers. It earns its revenue via the pay-as-you-use pricing model. The company believes in empowering brands and fintech to offer banking products contextually to their customers. Its credit cards-as-a-service is a ready-to-go card platform for fintech looking to create a fantastic card experience.
Instamojo is India's simplest online selling platform. It powers small, independent businesses, MSMEs & startups with online stores and online payment solutions to help them run an eCommerce business successfully. Instamojo started with Payment Links, a simple URL that one can copy and paste anywhere on the internet and receive payments online via any payment mode. The company provides products and features that are built to give every business the complete eCommerce experience.
Judo Bank is a challenger business bank determined to lead the way forward. The company is building a strong bank delivering successful outcomes. It strives to make today better, stronger and more productive than yesterday. Judo's relationship model places a priority on highly skilled and knowledgeable and imaginative relationship bankers who take the time to listen to business owners and understand their business, the market they operate in, and their ambition.
Khatabook is the world's fastest-growing Saas company. It has become India's leading business management app for MSMEs with 50M+ downloads in a remarkably short period of time. Khatabook enables micro, small and medium merchants to track business transactions safely and securely. It also offers features such as online payment collection through UPI and QR; sending periodic reminders to creditors via messages and report generation. Merchants are using its app extensively while adding US$200M worth of transactions every day. The high engagement has resulted in more than 25% of the total active merchants joining the platform through word-of-mouth and referrals.
Klarna is the leading global payments and shopping service, providing smarter and more flexible shopping and purchase experiences to 90 million active consumers across more than 250,000 merchants in 17 countries. Klarna offers direct payments, pay-after-delivery options, and installment plans in a smooth one-click purchase experience that lets consumers pay when and how they prefer to. It offers products and services to consumers and retailers through payments, social shopping, and personal finances. Today, the company has 4,000 employees from more than 100 nationalities who all work for the same mission: to reshape shopping, by elevating the entire shopping experience for avid shoppers.
KredX was started with the single mission of solving working capital challenges for businesses by utilizing an asset lying idle in its balance sheet in the name of accounts receivable. The KredX suite of products gradually evolved from an Invoice Discounting Platform catering to Working Capital requirements to solving bigger problems like early payments for corporate treasuries in the form of Early Payments Technology and Growth Capital solutions while fostering a thriving community of partners. Today, KredX is India's leading integrated cash flow solutions provider helping enterprises & suppliers through innovative offerings while providing investors with an opportunity to earn high returns at low risk through an alternative short-term instrument.
Lendingkart Technologies Private Limited is a fintech startup in the working capital space. The company has developed technology tools based on big data analysis which facilitates lenders to evaluate borrowers' creditworthiness and provides other related services. It is a non-deposit-taking NBFC, providing SME lending in India. The company aims to transform small business lending by making it convenient for SMEs to access credit easily. The company uses technology and analytics tools, analyzing thousands of data points from various data sources to assess the creditworthiness of small businesses rapidly and accurately.
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