Fintech - statistics & facts

Over the last 10 years, fintech has evolved from a niche and elusive industry trend into a transformative force in the global financial landscape. Initially associated with small startup ventures, fintech today includes multibillion-dollar enterprises. Pinning down a precise definition of fintech proves challenging because of the segmentations within the industry. Online and mobile banking, digital payments, cryptocurrency and blockchain, insurtech, wealthtech, artificial intelligence, all classify as fintech as they combine innovation in the financial industry with technology. Over the past five years, the fintech sector has witnessed a substantial surge in the number of companies, with a notable concentration in the Americas. Concurrently, there has been a remarkable uptick in fintech users globally, particularly in digital payments, where the global user base is forecast to exceed 3.5 billion in 2024. Despite the growing number of fintechs and the expanding user base, investment activity has slowed down notably in recent years, with 2023 recording the lowest value and number of investments since 2017.

Fintech investment landscape: End of the booming era?

Investments into fintech companies rose sharply between 2012 and 2021, culminating in a record-high global investment value by 2021. However, a significant downturn began in 2022, and by 2023, investment value halved, with the Asia-Pacific region witnessing a substantial 40 billion U.S. dollars drop. Nearly every segment witnessed a steep decline in investment, except for insurtech, which saw a notable increase. Additionally, ESG and greentech recorded a doubling of investment value in 2023. This downward trend extended to investment types as well: M&A and venture capital investments plummeted, while private equity experienced a slight uptick. On the one hand, the decline in investment activity can be attributed to higher interest rates and worsening macroeconomic conditions, prompting investors to exercise fiscal restraint. At the same time, it is worth noting that the fintech sector is no longer as much of an emerging market as it was a few years ago, and investment landscapes change as markets mature.

Global fintech titans: unicorns and dominance

Fintech is often associated with small startup ventures, but it is important to note that the list of fintech unicorns - startups valued at over one billion U.S. dollars - numbers in the hundreds. The United States and China are home to eight of the 10 largest fintech companies worldwide. Despite the dominance of these two countries, the two highest valued fintech unicorns at the end of 2023 were the Irish payment processing platform, Stripe, and the UK-based digital bank, Revolut. Stripe was valued at 50 billion U.S. dollars, significantly higher than Revolut, which had a valuation of 33 billion U.S. dollars. Europe, in fact, is home to several prestigious fintech companies. Revolut and Wise are two of the most widely used digital banks in Europe, with Revolut reporting 35 million customers at the end of 2023.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Mar 5, 2024

Key insights

Region with the highest number of fintech startups
Americas
Segment with the highest number of users
Digital payments
Global fintech revenue
103.75bn USD
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Editor’s Picks Current statistics on this topic

Number of fintechs worldwide from 2018 to 2024, by region

Fintech (Mobile/online banking)

Number of fintechs worldwide 2018-2024, by region

Value and number of investments in fintech worldwide from 2010 to 2023

Fintech (Mobile/online banking)

Investment activity in fintech globally 2010-2023

Estimated monthly customer growth of Revolut from 2018 to 2024 (in millions)

Fintech (Mobile/online banking)

Estimated customer growth of Revolut 2018-2024

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Overview

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Overview

Investment landscape

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Digital banks

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Digital payments

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BNPL

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Further reports

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Fintech in Europe
Fintech in Europe
FinTech - In-depth Market Insights & Data Analysis
FinTech - In-depth Market Insights & Data Analysis
Insurtech
Insurtech
Fintech in Latin America
Fintech in Latin America
Fintech in Mexico
Fintech in Mexico
Proptech
Proptech
Digital payments in the Nordics
Digital payments in the Nordics
Digital payments in Latin America
Digital payments in Latin America
Digital payments in the Asia-Pacific region
Digital payments in the Asia-Pacific region

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