• 7 Fintech Companies to Watch in 2020

    7 Fintech Companies to Watch in 2020

    The fintech industry made significant strides in 2019. Fintech companies raised billions of dollars from venture capitalists during the year. This trend is expected to accelerate in the coming year as investors continue to make investments in the sector. In this article, we will look at some of the global fintech companies to watch.

    Tunaiku

    Tunaiku has managed to grow from an unknown online lender in Indonesia to become the biggest company in the industry. The company, which has more than 500k users will likely continue to grow in the coming year. The company is expected to expand its services to business customers as it seeks to grow its market share. At the same time, Tunaiku (pinjaman online cepat) will continue to battle other upcoming online lenders in Indonesia like CashWagon and Cek Aja.

    Robinhood

    Robinhood is one of the best-known fintech companies in the world. It is also one of the best-known disruptors in the world. The company offers commission-free trades to American investors. This year, its biggest rivals announced that they would bring their commissions to zero. Two of the biggest – Charles Schwab and TD Ameritrade – announced that they would merge. This will create a company with more than $5 trillion in assets. It will be the undisputed leader in the brokerage industry. As a result, Robinhood will be forced to respond to these companies. In the coming year, there is a likelihood that a bigger company will express its interest in Robinhood, which is now valued at more than $5 trillion.

    Chime Bank

    Chime Bank is an American startup that aims to disrupt the banking industry. The company is offering a fully-online digital bank. Customers can deposit their funds, manage them, and even withdraw them. They can do all these without the need for visiting a bank branch. The company is known for offering a number of free services such as withdrawal and maintenance. A common question is how the company makes money. It does this by putting these funds in quality investment grade bonds. The company raised more than $500 million and is now valued at more than $5.8 billion.

    Revolut

    Revolut is another online bank that has raised millions of dollars from investors. It is now raising more than $1.5 billion from investors and is valued at more than $4 billion. Revolut operates in Europe, where it has become the biggest online-only bank. The company will be watched closely because of its desire to expand to the United States. Revolut will partner with Mastercard and Visa on this journey. The question is whether the company will make it in the US. This is a challenging market because of the number of online banks that are there.

    Apple

    Apple is not a fintech company. In fact, Apple makes most of its money selling the iPhone. However, in recent years, Apple has been gravitating towards the financial industry. The company launched Apple Pay a few years ago. In the most-recent quarter, the company announced that Apple Pay had handled more payments than PayPal. This year, the company launched Apple Card, in collaboration with Goldman Sachs and Mastercard. The company will be watched closely as enthusiasts see what is in store for them.

    Facebook

    Like Apple, Facebook is not a fintech company. The company makes its money from selling advertisements to companies and individuals. Still, Facebook will be a company to watch because of an announcement it made this year. The company announced that it would unveil a digital currency known as Libra. The project was supported by a number of companies like Visa, Mastercard, and PayPal. Some of the early backers have already exited the project. Therefore, in the coming year, the market will watch closely what will happen with the project.

    Stripe

    Stripe is one of the best-known fintech companies in the United States. The latest funding round valued the company at more than $25 billion. The company offers payment services that enable any website to receive funds. The company will be watched closely because the market expects it to go public. This has not been confirmed yet but based on the latest market activity, there are chances that the company may go public. The market will watch it closely and see how it performs if it becomes a public company.
    Other fintech companies that will be watched closely are Circle, Credit Karma, and SoFi.

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