Today we have come up with an arresting article about the largest fintech companies in the world, based on Insider Monkey’s latest compilation. Fintech industry is among the very newest ones in the world, that grow and spread very quickly in the 21st century. The term “fintech” originally referred to the ‘Financial Services Technology Consortium’ project in the 1990s led by Citigroup, which is among the largest financial services companies in the whole world.
So it means the merge of finance and technology, and refers to companies that combine these two. However the term fintech generally is used for new startups, which were launched a decade ago. With the help of these companies, we can enjoy all the comfort of arranging everything online within couple of seconds. As of 2019, investments in fintech hit the top, as they exceeded the jaw-dropping $18 billion, which was an increase of $5 billion comparing to 2018. This pandemic-stricken year hasn’t brought the fintech companies any decline, as the average value has gone up to $ billion.
And now, let’s check out what Insider Monkey has investigated for us. Firstly, on the fifth spot we can find Paytm that is an Indian founded company and was launched 10 years ago, in 2010. It’s an e-commerce payment system, which is available in 11 different Indian languages. Due to mobile apps, it can be used to pay utility bills, and to make bookings such as events, movies and travels. Also, you can pay with it at educational institutes, stores, parking and restaurants. Paytm has more than 7 million merchants, and can boast with an amazing revenue of over half a billion dollars. Up on the list, Paytm is followed by GoJek on the fourth spot. GoJek is an Indonesia headquartered online payment and ride hailing company. It’s only 11 years old, as it was established in 2009. Besides Indonesia, it also operates in India, Philippines,Malaysia, Singapore, Vietnam, and Thailand. GoJek was originally founded to connect courier delivery and customers and provide two wheeled ride hailing services. If you want to get more information about these companies and the entire compilation, please jump to the largest fintech companies in the world.