What Is Financial Technology – Fintech?
Financial technology (Fintech) is used to describe new tech that seeks to improve and automate the delivery and use of financial services. At its core, fintech is utilized to help companies, business owners and consumers better manage their financial operations, processes, and lives by utilizing specialized software and algorithms that are used on computers and, increasingly, smartphones. Fintech, the word, is a combination of "financial technology".
When fintech emerged in the 21st Century, the term was initially applied to the technology employed at the back-end systems of established financial institutions. Since then, however, there has been a shift to more consumer-oriented services and therefore a more consumer-oriented definition. Fintech now includes different sectors and industries such as education, retail banking, fundraising and nonprofit, and investment management to name a few.
Fintech also includes the development and use of crypto-currencies such as bitcoin. While that segment of fintech may see the most headlines, the big money still lies in the traditional global banking industry and its multi-trillion-dollar market capitalization.
Employees : 946 | Founded : 2015 | Business Type : | Funding : $527.5M | Lead Investors : Tiger Global Management | Accelerator : | Estimated Revenue : 122980000 | Valuation : 1000000000
Employees : 917 | Founded : 2016 | Business Type : | Funding : $244.5M | Lead Investors : Fairfax Financial Holdings, A91 Partners, TVS Capi | Accelerator : | Estimated Revenue : 201740000 | Valuation : 1900000000
Employees : 842 | Founded : 2014 | Business Type : B2B | Funding : Â£685M | Lead Investors : JTC Group, Qatar Investment Authority, Fidelity In | Accelerator : | Estimated Revenue : 109460000 | Valuation : 1950000000
Employees : 798 | Founded : 2006 | Business Type : | Funding : $279.7M | Lead Investors : JPMorgan Chase, Temasek | Accelerator : | Estimated Revenue : 103740000 | Valuation : 1050000000
Employees : 766 | Founded : 2006 | Business Type : B2B | Funding : $3.5B | Lead Investors : Blackstone, Partners Group | Accelerator : | Estimated Revenue : 168520000 | Valuation :
Employees : 760 | Founded : 2011 | Business Type : B2C | Funding : $490M | Lead Investors : Lightspeed Venture Partners, Google Ventures, Lake | Accelerator : | Estimated Revenue : 98800000 | Valuation : 5200000000
Employees : 702 | Founded : 2010 | Business Type : | Funding : $450M | Lead Investors : Point72 Ventures, Pelion Venture Partners, Commerc | Accelerator : | Estimated Revenue : 91260000 | Valuation : 1900000000
Employees : 678 | Founded : 2009 | Business Type : B2B | Funding : $1.1B | Lead Investors : Fidelity Management & Research Company | Accelerator : | Estimated Revenue : 88140000 | Valuation : 1600000000
Employees : 600 | Founded : 2017 | Business Type : | Funding : $1.2B | Lead Investors : Greenoaks Capital, DST Global | Accelerator : | Estimated Revenue : 78000000 | Valuation : 2600000000