As Luxembourg’s finance minister Pierre Gramegna once put it, fintech is not just an enabler but a driving force.

Fintech, a combination of finance and technology, is one of the fastest growing forms of technology today. According to the infographic by Carsurance, as of 2018, the global investment in fintech stood at $59.5 billion.

But then the question begs, who are the movers and shakers in this industry?

We did some research and managed to net five companies. Of course, there are other big players in this space, but we decided to only highlight a few in this article to introduce to you some of the key fintech players.

A more detailed listing of the companies can be found in the infographic below.

Oscar

Oscar is an insurtech company founded in the US in 2013. “Insurtech” is a term derived from “insurance” and “technology” and was originally inspired by the fintech. The company has been at the forefront of improving insurance in the healthcare sector through better customer service.

Ant Financial

Ant Financial is a spin-off of Alibaba Group and was founded in 2014. The company is charged with running of Alipay (Alibaba’s official payment system), Ant Cloud, Ant Fortune, and various other financial services.

Xero

Xero was founded in 2006 and develops consumer-friendly accounting/financial applications for small businesses. At the time of writing this post, the company boasted more than 1 million subscribers around the world.

Avant

Avant is an online money lending platform established in the US. It allows borrowers to gain access to affordable sources of funding. The company is known to create innovative financial solutions to its consumer base drawn from over 500,000 subscribers.

Adyen

Adyen is a platform that works closely with businesses to enable them to receive payments from any platform (sales channel, social media, blog, and more) including Amazon, eBay, and Alibaba.

At the moment, the company works with some of the well-known business giants including Facebook, Uber, Microsoft, and many more.

Fintech companies seem to be the best performing ones in today’s world economy. Seeing as technology continues to evolve, you can be sure that the fintech industry will follow suit.

URL: https://carsurance.net/blog/growth-of-fintech/

RAJ VARDHMAN

Raj Vardhman is Head of Marketing & Tech at carsurance.net. He’s a self-made white hat SEO expert and WordPress virtuoso—passionate about developing new SEO strategies with nominal budgets on WordPress. Raj loves designing, traveling, photography, fabulous food, and even better conversation.