In 2021, the Fintech market continued its strong growth. In the first half of the year alone, French fintech companies raised 200 million euros , which represents a record amount.
This trend is confirmed worldwide. According to the 2018 edition of the Fintech100 from KPMG and H2 Ventures, $ 26 billion was raised by the 50 most influential Fintech companies in the world during the year. These 50 companies have raised a total of $ 50 billion since their inception.
To help you see more clearly in this ecosystem, discover 12 most promising Fintech apps that you need to know in 2021!
What is a Fintech?
Fintechs are companies that are reinventing the world of finance and the banking sector using new technologies. The term Fintech is the contraction of the words “Finance” and “Technology”. It made its first appearance in the Anglo-Saxon press in the years 1980-90, but it really spread from 2007.
There is a very wide range of FinTechs, tackling the digital transformation of different sectors of the financial industry. They include neo-banks, online fundraisers, payment applications, financial services for businesses, innovative insurance and crowdfunding platforms.
Fintechs around the world
The FinTech sector is experiencing strong growth , both in France and globally. 2018 was notably an important year for these companies, with $ 26 billion raised by the 50 most influential companies in the sector according to KPMG.
Of the 100 most influential Fintech companies identified by KPMG, 26 raised at least $ 100 million in 2018, down from just 12 the year before. The sector’s growth is therefore clearly there.
These influential actors come in particular from the United States, the United Kingdom and China. In terms of sector, it is mainly companies offering payment solutions that are represented, followed by loan and credit solutions.
FinTech Apps To Know In 2021
In order to help you get a good overview of the FinTech sector, we have identified 25 companies that stand out either by their strong growth or by their innovative solution , both in France and internationally. This list is of course not exhaustive, so do not hesitate to suggest other nuggets to add in the comments!
Alan’s ambition is to revolutionize the world of health insurance with a better customer experience. Created in 2016, this insurance is 100% online and is aimed at businesses of all sizes as well as the self-employed. It is the first insurance to obtain an insurer approval from the Prudential Control and Resolution Authority (ACPR) since 1986, which therefore places it as a pioneer in the digitization of the sector.
From its launch, it announced a first fundraising of 12 million euros, followed in 2018 by a second fundraising of 23 million euros. At the end of 2018, it had 65 employees and nearly 25,000 policyholders.
This neo-bank was established in 2014 in the United Kingdom and is considered the first exclusively online bank in the country. Their application even allows you to log in using facial or voice recognition . As of March 2018, Atom Bank users had deposited $ 1.7 billion into their accounts and the company had granted $ 1.5 billion in loans.
Founded in 2011, Bankin’s mission is to simplify the management of your money . The application allows you to follow your expenses live, in order to better manage them. This solution is directly connected to your bank and can monitor several accounts attached to different banking establishments.
The application has 2.4 million users in Europe (France, England, Spain and Germany), which makes it one of the continent’s leaders in this market.
Created in 2012 in the United States, Coinbase is a digital currency wallet , as well as a platform for the sale and purchase of cryptocurrencies , such as Bitcoin and Ethereum.
As of August 2018, the platform has more than 20 million users who have a total of around $ 20 billion in cryptocurrency , across 190 countries. It launched Custody last summer, a premium service for institutional investors.
From Xiaoman Financial
Du Xioman Financial was the financial services arm of Baidu Group , the leading search engine in China. In 2018, they became two separate entities. The company offers a digital portfolio, short-term loans and investment services.
Since gaining independence, it has raised $ 1.9 billion. Its goal is to develop the use of artificial intelligence in order to offer innovative financial services.
Initially, Grab was a VTC services application, Uber’s main competitor in Asia. Created in Singapore in 2012, it has greatly diversified its offer to become a platform of various services. Thus, it launched its digital payment application GrabPay in 2016 in order to facilitate the payment of races. Little by little, this offer has been extended and the application has become one of the leaders in payment solutions in South-East Asia.
It now makes it possible to transfer funds between individuals, to carry out market transactions and offers insurance or micro-loan services.
Founded in 2013, JD Finance is a Chinese Fintech . This is the financial arm of the JD.com e-commerce group, listed on Wall Street. She raised 13 billion yuan, or 1.7 billion euros, last year. Its valuation thus rises to $ 20 billion according to Bloomberg.
It offers many financial services, such as consumer loans and wealth management products.
Lydia is a French startup created in 2011. It launched its online smartphone payment application in 2013. Its solution allows users to receive and send money for free. It can also be used as a method of payment in certain stores or on certain e-commerce sites.
At the end of 2018, it claims 1.55 million users, 82% of which are under 30 years old. In December, it launched an instant consumer credit offer of up to € 1,000, in partnership with Banque Casino.
N26 is an online bank created in Berlin in 2013. This 100% mobile banking solution is based on an easy-to-use interface: registration is supposed to take only 8 minutes according to the company, but also according to the journalists who have done tests. One of its other peculiarities remains the immediacy of transactions.
It is present in 17 countries, including the United States where it launched in 2018. On June 4, 2018, it reached the milestone of one million customers.
Qonto is a French neo-bank created in 2016. This startup launched its service in France in 2017. Its difference: in addition to 100% digital accounts, it offers a range of specific services for entrepreneurs .
After raising 10 million euros in 2017, it raised an additional 20 million euros in September 2018 during its series B. In November 2018, it had 3 billion euros in transactions since its creation.
Robinhood is a free securities trading application created in 2013 in the United States. Its clients do not pay commissions on their transactions. Since 2018, the application also works with cryptocurrencies.
As of February 2018, Robinhood had 3 million users. As of April 2018, she had raised a total of $ 176 million and was valued at $ 6 billion.
TransferWise is a Fintech that offers money transfers between individuals , with different currencies. It was launched in 2011 by two Estonian designers, and its head office is located in London. Since 2017, it has offered multi-currency accounts.
As of June 2018, TransferWise had 2 million users making transfers of 1.5 billion euros per month. The company has already raised $ 397 million in funds since its inception.