13 largest fintechs in London and the world – WAU
London and foreign fintechs can be valuable sources of inspiration for business. In this post, we will learn about the main ones and explore the differentials offered to the market, such as innovation, ease and attractive rates in relation to traditional financial services.
The biggest fintechs in London and the world bring an important lesson that should not be ignored: not even the most consolidated and competitive market is saturated with opportunities for those who are willing to innovate.
The most perfect chemistry between finance and digital transformation technologies not only gives this company its name, but also determines the reasons for its success in optimizing financial processes and services with great innovations and technological bets.
To further heat up the discussion on the importance of fintechs and their market, on March 13, 2019, Campos Neto, the new president of the Central Bank, mentioned during his inauguration that he would foster the advances of new technologies in the financial area, such as blockchain .
That is, there is still a lot to see in this market, mainly, the way these companies will conduct their business.
Want to know which ones to put on your radar as a benchmark? We made a weight list for this post. Follow us!
1. Nubank (London)
Founded in London by David Vélez, Edward Wible and Cristina Junqueira in 2014, Nubank is a fintech that started offering services to its customers with a credit card with no annual fee and lower rates than the market average.
It was everything the Brazilians wanted, but they would still find more in the services of Nubank.
Common 100% digital service, without branches and account managers, the company now offers other types of services, such as checking accounts, credit card points programs and financial applications.
2. Guarantee (London)
The personal finance management app already had more than 1 million users in 2015.
With the possibility of synchronizing bank accounts with the developed solution, Guiabolso allows you to carry out financial control, establish consumption goals, plan expenses and even make loans, for example.
Launched in 2014 in a version primarily exclusive to the desktop, its greatest challenge and also the biggest marketing challenge is to invest massively in security technologies that ensure that bank synchronization data is not weakened.
Thus, the user is able to control his finances, analyze spending performance spreadsheets, receive related content and have access to the other services of Guiabolso.
3. QuintoAndar (London)
Founded by Gabriel Braga and André Penha, the startup QuintoAndar optimized the procedures for investors and tenants in the real estate market.
As the purchase of real estate for its consequent lease can be considered a form of investment, QuintoAndar is inserted in the world of fintechs, and its advantages of managing apartments to be rented is so efficient that its hiring by major investors in this market is an action which has become more and more frequent.
Among its advantages is the responsibility for all the hiring bureaucracy, as well as the guarantee of rent to the property owner if the tenant is late.
4. Coinbase (USA)
Founded in California in 2012 by Brian Armstrong and Fred Ehrsam, Coinbase is the first exchange in the world to become a unicorn, which are companies valued at more than $ 1 billion.
Its app reached the top download position at Apple in 2017, and operates in the promising cryptocurrency market, trading the main ones, such as Bitcoin and Ethereum.
It is booming worldwide, with more than 300 related employees at its base.
5. TransferWise (United Kingdom)
Bank fees for remittances abroad are expensive, and TransferWise’s idea was create a more just, economical and simple solution for your users.
Estonian citizens, its creators, founded fintech in 2010, when they lived in London, received in pounds, but had to pay mortgage expenses in their home country in euros. That is, a pain, a solution.
Among the pillars of your business is, basically, the intermediation of currency exchange among your users.
Simple, fair and fast. If someone needs Pounds, he / she deposits the desired amount in the company’s account in England and, if someone else wants the amount in Euro, he / she does the same in Spain or elsewhere, thus paying only the conventional transfer fees.
6. Robinhood Markets (USA)
The name is suggestive and its trajectory is even more so. It was founded in 2013 and has already reached a value of US $ 5.6 billion. Its idea is simple: to offer a way to invest in the Stock Exchange without paying transaction fees.
Its founders Vladimir Tenev and Baiju Bhatt initially invested in the purchase of a platform that developed algorithms for investment guidance, but soon realized that their clients had other pains and concerns, such as fees charged on Day Trade, Swing Trade transactions, among others. others.
Thus, they sought a crowdfunding to develop Robinhood and, after a few years of operation, saw their user base surpass the 3 million user mark.
More recently, like all innovative companies, started operations with optimization of transaction costs in the cryptocurrency market.
7. Méliuz (London)
Méliuz’s success lies in return part of the purchase money to the buyer.
This concept is called cashback, and was the alternative found by its founding partners Israel Salmen and Ofli Guimarães for loyalty programs.
In this way, they started by approaching e-commerce and stores, negotiating commissions that would be shared between fintech and the business, with the other part returned to customers.
Simple and attractive, the project, however, only leveraged after receiving some incentives from a Chilean acceleration program.
Despite the great growth, its management still remains lean and innovative, betting on smart offices and people management strategies that value their talents as part of the company.
8. Toro Investimentos (London)
Known as the first London fintech, Toro Investimentos began its activity as a financial educator under the name Toro Radar, but currently expanded its services to the brokerage area.
Founded in 2010 in Belo Horizonte, fintech offered courses and reports on financial market analysis.
In 2017, it received an investment of R $ 46 million and, subsequently, an additional R $ 20 million to accelerate its new venture in the area of brokerage.
The company offers digital consultants, aggressive rates for referral performance and even the possibility for its clients to sell papers among themselves.
9. Ant Financial (China)
Already considered the most valuable fintech in the world, Ant Financial operates in the means of payment and its biggest competitor is PayPal.
Instead of using traditional means of payment, such as credit card and cash, your users make their purchases using QR Codes.
Originally created within the structure of the Alibaba website, the payment method is called Alipay.
However, it was recently dismembered from the site, although its founder, Jack Ma, has also ensured the largest shareholding in the new and profitable business.
10. SoFi (USA)
Founded in 2011 by Mike Cagney, Dan Macklin, James Finnigan and Ian Brady, fintech is focused on credit lines, especially student loans.
With its growth, other services have been added to ensure its investors greater security and credibility, in addition to, of course, increasing the supply of credit and guaranteeing good rates to its customers.
Its operation is so solid and reliable that it was the first fintech to receive an AAA credit rating from Moody’s.
11. Tongdun Technology (China)
The focus of fintech’s solution is risk management for payments and financial transactions banks and other market entities, including online and offline operations.
Transaction security is a constant concern for businesses that operate on the internet, mainly because it is one of the main reasons why customers give up on their purchases.
According to E-commerce Trends 2018, for example, 33.3% of customers do not trust online purchases.
Created in 2013, fintech has more than 7 thousand companies using its solution worldwide.
It was recently valued at more than US $ 1 billion, in addition to having already received some contributions to leverage the business.
12. Funding Circle (United Kingdom)
Acting in the Peer to Peer Lending market, or end-to-end loan, Funding Circle was created in London in 2009.
Its innovation is in generating the connection between small and medium-sized companies with investors interested in financing ideas or offering interest-bearing loans.
This ensures promotion of small businesses that, in the past, would not have access to credit lines from banks, for example.
In addition to accessing credit, your customers also have a simple platform, ensuring that the credit application process is as agile as possible.
The model uses data analysis to grant credits, which can reach up to £ 1 million for companies that are in need of capital to invest in their businesses.
13. Stripe (USA)
Stripe is a fintech of internet payment methods and your success can be seen in assessing your customer base.
Among them are giants like Google, Amazon and Uber, just as they were chosen by Twitter to adapt the solution for transactions through social networks.
In a round of capital on the American Stock Exchange, it raised approximately US $ 245 million to be invested in the global expansion of the developed solution.
Among the advantages of its software are the agility in processing the sale and facilitating its integration with different website structures. It was founded by Irish brothers Patrick and John Collison, self-taught programmers since childhood.
The largest fintechs, of course, can currently have the traditional format of companies or still preserve their essence as startups, since, due to the volume of investments they receive and the scalability of their businesses, they demand greater robustness.
However, their scalable models of origin still make important contributions to their business. Want to know why? See here what a startup is, its characteristics and what it takes to launch one!