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Traders of Crypto has announced its research on the world’s quickest fintechs to reach a $1billion valuation.
Fintech Companies- Many of the fintech startups that have popped up in the last couple of decades have already gone on to see great success, with numerous fintech firms hitting a valuation of $1 billion. For some, it’s been a long journey to reach that billion-dollar mark, adapting and diversifying over the years, but for others, the rise has been meteoric.
Traders of Crypto looked at 100 of the biggest fintech companies in the world, to see just how long it took them to reach a valuation of $1 billion.
The Top 10 Quickest Fintech Companies To Reach $1billion
(Company – place of origin – year founded – sector – time taken to reach $1billion)
- Brex (US – 2017) Lending – Reached $1billion valuation in 2018.
- Figure Technologies (US – 2018) Lending – Reached $1billion valuation in 2019.
- Linklogis (China – 2016) Lending – Reached $1billion valuation in 2018.
- Ualá (Argentina – 2017) Banking – Reached $1billion valuation in 2019.
- Zenefits (US – 2013) Insurance – Reached $1billion valuation in 2015.
- ZhongAn (China – 2013) Insurance – Reached $1billion valuation in 2015
- Avant (US – 2012) Lending – Reached $1billion valuation in 2015.
- Dave (US -2016) Banking – Reached $1billion valuation in 2019.
- Monzo (UK – 2015) Banking – Reached $1billion valuation in 2018.
- Rapyd (UK – 2016) Payments – Reached $1billion valuation in 2019.
San Francisco-based fintechs, Brex and Figure Technologies, took less than two years to become billion-dollar companies. Closely followed by China’s Linklogis, which reached its unicorn valuation soon after. For most companies, it took longer than this, as for 26 out of the 100 companies analysed, it took four years to reach the $1billion valuation.
With all 100 companies taken into consideration, the average time taken to reach the $1 billion mark fell at 7 years and 2 months, which is still a very quick time to turn a business from a brand new startup to a billion-dollar enterprise, showing just how quickly the world’s top fintech firms are finding their feet and making a success of things.
