Leave the French hens, turtle doves and partridge to someone else.
For our Christmas countdown, we’re looking at 12 of the rising Fintech stars that have made waves in 2023 and look set to continue their meteoric rise in the new year.
A global fintech and payments company, Fiserv offers solutions for banking, global commerce, merchant acquiring, billing and payments, and point-of-sale. With revenues at $17.7 billion (2022), they are set to do big things in 2024.
A big-data- and AI-powered crystal ball for banks and financial institutions, Prism Data helps them make more informed decisions and mitigate risks. Products like CashScore aim to predict default risk and problematic customers ahead of time. With 2023’s focus on regulation and compliance set to continue, Prism could be ones to watch in 2024.
By combining automation, machine learning, and alternative data sources, FERO provides faster and more accessible credit solutions to individuals and small businesses. Their focus on financial inclusion and using technology to expand lending opportunities sets them apart and saw them win over Coatue, Volta Ventures, and Antler in their seed funding round to take home $3m.
This wealth tech app enables clients to get one single view of their investment portfolio in real time. Integrating with more than 300 banks, it provides an aggregated view even across different providers and products. Securing $8 million in Series A funding, they have big growth plans for 2024 with a focus on automating manual wealth management processes. Watch this space.
The global elderly care market is already worth $1,100 billion and set to rise to $1,800 billion by 2030; Carefull is making waves in the fintech industry with its unique solution for elder care and financial management. The platform enables caregivers and family members to monitor and protect the financial well-being of aging loved ones, helping to prevent fraud and financial exploitation. The potential is huge, and investors agree: Carefull secured $16.5 million in Series A funding earlier this year.
This boot-strapped Swedish startup is on a mission to make account-to-account payments faster. Their proprietary network enables merchants to receive funds 24/7 and settle them in any currency. They’ve already reached profitability and expanded to 25 countries, and their latest $60 million funding raise will help them continue that rapid expansion into 2024.
South-African company Stitch has been gaining recognition in the Fintech world for its novel approach to digital wallets and payments. Their platform integrates various financial services, from banking to budgeting, in a single, user-friendly app. This simplifies and streamlines the user experience, appealing to consumers looking for an all-in-one financial solution. With $25 million in Series A funding in their pocket and plans for a spin-out brand, they’re ones to watch in 2024 and beyond.
Neobanks aren’t new, but what sets Albo apart is its focus on financial inclusion and providing accessible banking services to underserved populations in Latin America. The company offers a mobile banking platform with features like budgeting tools, savings accounts, and debit cards, making it easier for people without traditional bank accounts to manage their finances. On track to hit profitability in 2024, they gained $40 million in Series C funding earlier this year to help them with their mission.
The brainchild of a former Revolut and Square product lead, Apron minimises the amount of time small businesses spend processing invoices. The fact that it’s not looking to take on market leaders in this space, but to integrate them into a more effective workflow contributed to its $15 million Series A funding and a bright future next year.
Fresh from a $21 million Series B funding round, Globacap is all about digitising and automating the private capital markets. It focuses on streamlining processes, increasing liquidity, and generally improving access to help private capital markets reach their potential. Their white-label service now powers 15 global institutions, and their quiet rise looks set to continue.
RegTech has been a booming area in 2023 and PaymentWorks are making a name for themselves in digital supplier onboarding and payment compliance. The platform helps organizations securely onboard and verify supplier information, reducing the risk of fraudulent transactions. A growing need in the corporate sector, they’re now connected to eight of the largest US commercial banks with 25,000 vendors joining per month – a strong foundation for 2024.
For any company operating in more than one market, compliance quickly becomes complicated. Focused on banking, insurance, and government organisations, Quantexa uses advanced data analytics to help businesses navigate different regulatory compliance domains. Growing 124% over the past 5 years, they’re ones to watch in the new year.
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