“Our tenth annual Fintech 50 list highlights companies that continue to experience rapid growth and adapt, despite declining valuations in the industry and reduced investments in private fintech firms. According to CB Insights, funding for fintech startups in 2024 has dropped for the third consecutive year, reaching $34 billion globally, compared to $42 billion in 2023 and $144 billion in 2021,” states the Forbes report.
Nevertheless, the selection for the 2025 list was highly competitive, as noted in the article.
“Our team of journalists and editors reviewed hundreds of fintech companies, assessing them based on business growth, product innovation, and diversity of leadership teams. We conducted interviews with CEOs of the companies and industry experts. To be considered, companies must have headquarters or significant operations in the U.S. and cannot be owned by public companies,” explain the authors of the ranking.
Three categories related to business services—payments, banking for businesses, and Wall Street and corporate sector—proved to be the most successful in the ranking, accounting for 31 out of 50 spots on the list and 13 out of 18 newcomers.