Sat. Oct 1st, 2022

The financial services industry is increasingly attracting internet startups that are transforming how consumers and corporations save, spend, borrow, and invest, as well as investment that may aid in the expansion of the company. As more businesses enter the fintech market, it can be difficult to go through them and identify the big players. The rapid proliferation of financial businesses is somewhat astonishing. Most financial organisations, such as banks, have implemented technological advancements. The market has seen a significant movement away from digital loans and mobile stock services and toward eCommerce payment platforms and digital currency exchanges that are based on digital financial access. This article includes the top ten fintech companies establishing a name for themselves in the industry.

Forward Financing

Forward Financing is a Boston-based financial technology startup that helps small companies around the country with quick, flexible operating cash. Customers may spend less time looking for finance and more time building their businesses thanks to its specialised account agents and superior proprietary technologies. Forward Financing’s straightforward, secure online application allows company owners to rely on Forward Financing for approvals in minutes, money in hours, and customised help when they need it the most. Forward Financing has increased Main Street’s access to credit by delivering over $1.2 billion in loans to over 30,000 small companies since 2012. The Better Business Bureau has given the organisation an A+ rating, and it routinely obtains high marks across all major consumer review sites. Since 2017, Forward Financing has been listed as one of the fastest-growing firms in Massachusetts by both Inc. Magazine and the Boston Business Journal. Forward Financing is dedicated to assisting more small company owners in succeeding and realising their full potential.

FYP

Fyp is a numberless prepaid card for teens that teaches them about money. You may use the Fyp Prepaid card to make online and offline payments without opening a bank account. The startup uses cutting-edge technology to make studying and controlling finances easier for these young, fierce, tech-savvy minds. It is a prepaid card that allows teens and their parents to conveniently manage both online and physical purchases. To add a twist, it incorporates gamification components that will assist instil financial literacy in teens. In addition, they may use the app to view their expenditure analysis.

GRAVITY PAYMENTS

Gravity Payments provides courteous, world-class customer service in-house. It serves over 13,000 retailers across the United States, saving them millions of dollars in fees and hours of stress. It works hard to make credit card processing as easy as possible. Mobile credit card processing, POS solutions, electronic payment processing, working capital funding, integrated payments, Wechat pay, AliPay, affordable merchant services, best credit card processor, best merchant services, accept payments, recurring billing, and eCommerce are among its specialties.

HYPERFACE

Hyperface enables businesses to build their own credit card programme in 4-8 weeks, rather than 18-24 months. Hyperface provides adaptable SDKs and APIs that enable anyone to create the credit card programme of the future for their clients. eCommerce enterprises, neobanks, and fintech wishing to offer credit cards to their customers are among the startup’s primary clientele. It generates income using a pay-as-you-go pricing mechanism. The organisation believes in helping brands and fintech to deliver banking solutions to their clients in context. Its credit cards-as-a-service platform is a ready-to-use card platform for fintech companies aiming to provide a terrific card experience.

INSTAMOJO

Instamojo is India’s most user-friendly online selling platform. It provides online storefronts and online payment solutions to small, independent enterprises, MSMEs, and startups to assist them run a successful eCommerce business. Instamojo began with Payment Links, which are basic URLs that can be copied and pasted anywhere on the internet to take payments online via any payment method. The firm offers tools and features designed to provide every business with a full eCommerce experience.

JUDOBANK

Judo Bank is a challenger commercial bank that is committed to forge ahead. The firm is establishing a powerful bank that produces positive results. It attempts to make today stronger, more productive, and better than yesterday. Judo’s relationship model prioritises highly competent, knowledgeable, and creative relationship bankers who take the time to listen to business owners and understand their company, the industry in which they operate, and their aspirations.

KHATABOOK

Khatabook is the fastest-growing SaaS firm in the world. It has quickly become India’s premier business management software for MSMEs, with over 50 million downloads. Khatabook helps micro, small, and medium-sized businesses to monitor business transactions in a safe and secure manner. It also includes capabilities like online payment collection using UPI and QR, sending periodic reminders to creditors via SMS, and report production. Every day, merchants use the app significantly, resulting in over $200 million in transactions. Because of the high level of interaction, more than a quarter of all active merchants have joined the platform through word-of-mouth and recommendations.

KLARNA

Klarna is the largest worldwide payments and shopping service, offering 90 million active customers better and more flexible buying and purchasing experiences across more than 250,000 retailers in 17 countries. Klarna provides direct payments, pay-after-delivery alternatives, and instalment plans in a simple one-click buying process that allows customers to pay when and how they choose. Through payments, social shopping, and personal finances, it provides products and services to customers and businesses. Today, the firm employs 4,000 people from over 100 countries, all with the same goal: to redefine purchasing by upgrading the overall shopping experience for obsessive customers.

KredX

KredX was founded with the primary goal of assisting businesses with their working capital difficulties by leveraging an asset that was sitting dormant on their balance sheet in the form of accounts receivable. The KredX suite of products evolved gradually from an Invoice Discounting Platform catering to Working Capital requirements to solving larger problems such as early payments for corporate treasuries in the form of Early Payments Technology and Growth Capital solutions while fostering a thriving community of partners. Today, KredX is India’s top integrated cash flow solutions provider, assisting firms and suppliers with new offers while offering investors the option to earn high returns at minimal risk through an alternate short-term instrument.

LENDING KART

Lendingkart Technologies Private Limited is a working capital-focused fintech business. The firm has created technological solutions based on big data analysis that help lenders analyse the creditworthiness of borrowers and provides other relevant services. It is a non-deposit-taking NBFC in India that provides SME finance. The startup intends to alter small business financing by making it easier for SMEs to get finance. To assess the creditworthiness of small businesses quickly and correctly, the organisation use technology and analytics tools that analyse millions of data points from multiple data sources.

By adele rose

Adele Rose is the senior editor and employee of WGBS Pvt Ltd Digital wing.

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