Top 15 Fastest Growing Financial Companies You’ve Never Heard Of

The top financial technology companies in the world are literally innovating money and changing the way we pay for things. Yet, we barely recognize them. These companies aim to streamline financial services through automation. The use of apps, software, or cloud-based computing, when paying, tracking, or borrowing money, is changing slow conventional ways in financial institutions.

Driving to a bank for a loan, queuing for hours, and speaking to a loan officer is a bunch of red tapes that people tend to shy away from. Financial technology companies remove the intermediaries whenever you want to pay, invest, monitor, inquire, or borrow money. If you’ve transferred money through a mobile app, paid for a product with your phone, loaned money from an app, or checked your bank balance online, you’ve just benefited from innovation made from one of these financial technology companies.

Here are the top 15 financial technology companies in America you should know about.

1. Coinbase

Cryptocurrency is a leading digital currency exchange system that uses a decentralized network based on Bitcoin cryptocurrency. Out of the many cryptocurrency trading platforms, Coinbase is the largest Bitcoin broker that offers high liquidity and buying limits. They also have versatile payment methods such as SEPA transfer, debit card, a connected bank account, Interac, and more.

2. Acorns

Acorns is a smart way to invest money passively. You need to link your credit cards, and Acorns takes the roundups from your spending. Once it amounts to a total of $5, Acorns withdraws it from your account and invests it. This app-based investment channel is perfect for college students who want to start saving for their future. Acorns is one of the few financial technology companies that help students and regular citizens unfamiliar with investing.

3. Affirm

Ready to purchase that new laptop you’ve been eyeing on? Affirm offers short-term loans for immediate purchases. This is a popular favorite because not a lot of people have credit cards or cash on hand. They can lend you up to $17,500 with no origination fee, no minimum credit score, and minimum credit history required.

Affirm is on the list of most innovative financial technology companies because they’re helping Americans with low credit get loans.

4. Betterment

If you’re looking to invest for the first time, Betterment is an ideal choice. It uses algorithms that determine your ideal investment based on your status, goals, and risk tolerance. Unlike other apps, you can get the most out of your investments through automated investment advice.

5. Stripe

Creating a digital startup is now made possible through Stripe. They help up-and-coming entrepreneurs establish their businesses online. The best part is they accept a variety of payment methods, even an obscure one like the ACH (Automated Clearing House), an e-payment service for bulk transactions.

Stripe is considered one of the most innovative financial technology companies due to their contribution to developers and changing online e-commerce.

6. SoFi

Students will now have a better future through the SoFi student loan refinancing system. The company offers a minimum of $5,000 with no maximum loan amount. Plus, students can even earn $200 if they sign up with The College Investor.

7. Credit Karma

Some people struggle with their finances but hate talking to financial advisers. Thus, Credit Karma makes staying on top of your finances possible. It gives you an overview of your credit report, scores, savings advice, and more. The best feature is the credit simulator, where it helps you predict the impact on your credit score based on specific actions.

8. Tradeshift

Cloud-based services are shifting how businesses operate. And one of the best cloud-based financial technology companies that also helps other companies streamline their partnerships is Tradeshift. It’s a cloud-based invoicing service that enables companies to approve payments, send invoices or reports, and collaborate efficiently.

9. Zenefits

The ultimate HR assistant is here. Zenefits offers premium benefits to HR departments in any industry. A unified system where you can handle payrolls, store employee documentation, tax forms, and even reviews your company’s performance and termination procedures.

10. Circle

Going neck and neck with Coinbase, Circle is also one of the leading financial technology companies for all your peer-to-peer cryptocurrency lending needs. They believe that no one should have to pay for fees when using their own money. Unlike Coinbase, which only caters to 19 countries, Circle offers its crypto services worldwide with no transaction fees.

11. Root Insurance

Automobile insurance involves hefty premiums. That’s why high-risk drivers love this financial technology company because it offers the cheapest quotes and premiums that cover basic auto insurance. If you’re a high-risk driver who can’t afford premiums from other insurance companies and wants the basics only, then Root Insurance is your best bet.

12. Robinhood

Deemed as the best discount broker fintech company, Robinhood allows newbie investors to dip their toes into US stock trading. This is a standout from other brokerage firms because they are commission-free with no withdrawal and inactivity fees. Unfortunately, for non-US stocks, there is a steep $50 fee.

Robinhood is on the list of most innovative financial technology companies of 2019 for making it easy for everyone to jump into investing without much experience.

13. Roofstock

Roofstock is an interesting way to invest in real estate. It allows investors to buy single-family rental properties through their app. And the upper hand is these properties already have tenants. So once you purchase the properties, you gain instant passive income right off the bat. These properties are usually sold by other investors who no longer want real estate responsibilities. However, Roofstock prioritizes quality too. A rigid requirement is to have the property checked by a professional rental property inspector before selling.
 

14. Remitly

Transferring money worldwide will seem like a breeze when you use the Remitly money transfer service. They offer the lowest fees in the industry, with options like the “Economy” transfers that come with zero fees. It’s also a guaranteed secure money transfer service as it is registered with the US Department of Treasury. But wait, there’s more! Transferring money will also earn you money through their referral program.
 

15. Lemonade

Lemonade stands out from the other insurance financial technology companies. With extremely competitive rates, a P2P insurance model, extensive coverage, and straightforward policies, Lemonade is changing the “norm” of how insurance companies work. They even donate leftover money to charity!