Wondering which of the many fintech startups are worth rooting for this year? Check out our top 5 list of the growing fintech startups with a bright future ahead in 2022.
In this review, Nick Wilson, the founder and CEO of Advance SOS, imparts his expert opinions on the growing fintech startups. As an accomplished financial expert and consultant Nick also shares who he thinks has the most excellent prospects to flourish this year.
1. BlockFi
Focus Industry and Niche
Crypto-asset investment, management, and lending. Clients can register with BlockFi to buy, sell, trade, invest, and borrow cryptocurrency.
Company Background
Since its founding in the US in 2017, BlockFi has grown in the world of cryptocurrency. They say the company redefines banking on its website by “providing credit services to markets with limited access to simple financial products.”
Numbers That Matter
As of June 2021, BlockFi’s valuation totaled almost $5 billion, 66.7% higher than its March 2021 standing. In November 2021, the company had 500,000 retail accounts – 200% more than its 225,000 accounts at the start of the year.
Expansion Potential
In 2021, BlockFi secured a little over $850 million of new funding from its investors.
2. BharatPe
Focus Industry and Niche
Providing free app-based payments, card acceptance options, and small business financing to SME merchants and Kirana store owners in India. BharatPe creates a unique QR code for each client, which their customers can scan to pay from any of the 150+ supported UPI apps
Company Background
Ashneer Grover and Shashvat Nakrani founded BharatPe in New Delhi, India, in 2018. On its official website, the company prides itself in “empowering shop owners to accept payments from any payment app for FREE.”
Numbers That Matter
The company scaled up rapidly in the previous year. They became a unicorn in August 2021 after raising $370 million and becoming a $2.85-million company. In over two years in operation, the company already distributed around $300 million in unsecured loans.
Expansion Potential
With the 80 cities across India, it currently tops, BharatPE is on the rise with a 5x growth potential for the next five years of its operation.
3. Trade Republic
Focus Industry and Niche
Online brokerage company offers client services to trade listed securities and cryptocurrencies using only a mobile application.
Company Background
Founded in 2015 in Germany, Trade Republic says they “empower millions of Europeans to put their money to work.” The company eroded barriers to trading by creating a friendly mobile app to access and participate in it. Their app offers zero-fee services with more than 9,000 stocks, ETFs, Crypto, and 300,000 derivatives.
Numbers That Matter
In May 2021, Trade Republic announced receiving $900 million in investment, led by Sequoia. As one of the investment’s expansion results, In December 2021, the company launched operations in Italy and the Netherlands. The company expanded its client network to over 250 million people across Europe.
Expansion Potential
Trade Republic is currently worth $5.3 billion with rising investment capital pooled from investors. With its growing client network, the continued flow of investment, and solid plans of expanding across Europe, it has an exciting future.
4. Fenergo
Focus Industry and Niche
Fenergo assists assets managers, investment banks, and the like by managing books and ensuring compliance with business regulations.
Company Background
Going on 14 years now, Fenergo says they “reinvent customer journeys [by] keeping you safe and compliant.” The company prides itself on its star financial product: Customer Lifecycle Management. They offer the product to gather and validate client information and prepare for compliance filing.
Numbers That Matter
As of April 2021, Fenergo has 400 local employees and 450 more outside of Ireland. While affected by the pandemic, it remains optimistic about doubling in value by 2023 and realizing its $105-million revenue target.
5. Mollie
Focus Industry and Niche
Online payment processing for businesses and user-friendly payment options for customers.
Company Background
Pioneered by Adriaan Mol in 2004, Mollie publicizes its services as “effortless” for all its users. Now, it is one of Europe’s fastest-growing payment service providers.
Numbers That Matter
In June 2021, the company raised $800 million in the Blackstone Growth-led Series C funding round. Today, its products have a client network of more than 125,000 businesses across Europe, processing more than $22 billion worth of transactions.
Considering About Investing in Fintech?
Fintech is a young market with lots of potential and many risks. Tread your journey of investing in a fintech startup with preparation and a lot of care. Read about the company down to ro
