How many fintech companies are there in the US?

As of June 2024, there were a total of 10,412 fintech companies in the U.S., a slight increase compared to the previous year. The largest fintech in the country in 2023 was Stripe, with a market value of 50 billion U.S. dollars.

What is the biggest fintech company in the US?

Largest Fintech Companies by Market Valuation Rankings Name Country 1 Visa United States 2 Mastercard United States 3 Intuit United States 4 Fiserv United States 48 more rows

What is the size of the fintech market 2025?

The fintech industry is expected to reach a market size of $305 billion by 2025, growing at a CAGR of 22.17% from 2020 to 2025. The fintech sector, which currently holds a 2% share of the $12.5 trillion in global financial services revenue, is estimated to grow up to 7%, reaching $1.5 trillion by 2030.

Which country has the biggest fintech industry?

In 2023, the United States ranked first in terms of the number of fintech unicorns globally, having roughly five times more of these companies than the United Kingdom, which ranked second.

What percentage of Americans use fintech?

The advent of financial technology, or fintech, has heralded a significant shift in how consumers manage their finances, with a remarkable surge in adoption rates worldwide. According to recent statistics, a staggering 48% of Americans and an even higher 84% of UK respondents utilize fintech on a daily basis.

Where are the top 3 emerging fintech hubs in the US?

Top Cities for Fintech Startups Rank City Country 1 San Francisco United States 2 New York United States 3 London United Kingdom 4 Los Angeles United States 6 more rows Dec 22, 2023

What is the largest fintech market?

North America is leading the fintech market share globally. North America, particularly Silicon Valley, is a global centre for fintech innovation. Financial technology leverages this environment to drive continuous innovation in financial services.

What is the market cap of fintech?

As of July 2023, publicly traded fintechs represented a market capitalization of $550 billion , a two-times increase versus 2019. F-Prime Fintech Index.

How many tech businesses are there in the US?

According to CompTIA, there are more than 557,000 software and IT services companies in the United States (approximately 13,400 tech startups were established in 2019 alone).

What is the fintech capital of the US?

San Francisco , United States San Francisco continues to stand at the top of Fintech innovation, maintaining its lead as the global startup city for fintech startups.

Is fintech a 4.0 industry?

Robo-advisors, algorithmic trading, and AI-driven risk assessment are examples of how FinTech is leveraging technology to achieve unprecedented levels of efficiency. These advancements are in line with the objectives of Industry 4.0, which aims to automate and optimise processes through the use of smart technologies .

What are the six fintech entities?

The Reserve Bank of India has selected six fintech entities as part of a regulatory sandbox initiative that aims to prevent and mitigate financial fraud. The selected entities for the 'Test Phase' are Bahwan Cybertek, Crediwatch Information Analytics, Wibmo, napID Cybersec and Trusting Social .

United States Fintech Market Size (2024)

Market Size of United States Fintech Industry

Study Period	2020 - 2029
Base Year For Estimation	2023
Forecast Data Period	2024 - 2029
Historical Data Period	2020 - 2022
CAGR	11.00 %
Market Concentration	High
Major Players *Disclaimer: Major Players sorted in no particular order

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US Fintech Market Analysis

The United States Fintech market reached a size of USD 4 trillion in the current year and registered a CAGR of 11% over the period of the forecast.

Financial technology, also known as "fintech," is a type of technology and innovation that aims to compete with traditional financial methods in the provision of financial services. AI, blockchain, cloud computing, and big data are considered the ABCs of fintech. The fintech industry is an evolving industry that uses technology to improve activities in finance.

According to research conducted in the US fintech market, venture capital investment is increasing year after year, but investors are becoming more cautious as the industry matures. In the previous year, there were 8775 fintech start-ups in America. Digital payments are the leading fintech segment in the United States, with a market value of more than $1.2 trillion. 60% of credit unions and 49% of banks in the U.S. believe that fintech partnerships are crucial. By the forecasted period, the U.S. will account for more than 62% of the global fintech transaction value.

The United States' customer fintech implementation is at 46%. The customer fintech implementation rate for global money transfers and payments is 75%. 75% of global consumers have used at least one fintech service to pay online or using a mobile application. 70% of U.S. customers say that mobile banking will represent the future. There were 54 million P2P (peer-to-peer) lending users in the United States six years ago, and it was likely to more than double to 126 million in the current year.

US Fintech Industry Segmentation

Fintech (financial technology), is a term used to describe a range of products and services that use technology to enhance and automate traditional financial operations and processes. Examples of Fintech products and services include online banking services, mobile payments, P2P lending, digital wallets and financial management tools.

Sales of platform- and technology-based financial services, along with related products, make up the FinTech (Financial Technologies) market. FinTech refers to the application of technology and innovation to the delivery of financial services via web-based platforms. The scope of the report comprises a complete background analysis of the US fintech industry, including a valuation of emerging trends by segments, significant changes in market dynamics, market overview, market size approximation for key segments, and key company profiles also covered in the report.

United States Fintech Market Size Summary

The United States fintech market is a rapidly evolving sector that leverages advanced technologies like AI, blockchain, cloud computing, and big data to enhance financial services and compete with traditional methods. The industry is characterized by significant venture capital investment, although investors are becoming more selective as the market matures. Digital payments lead the U.S. fintech segment, reflecting the country's strong preference for credit card and mobile wallet payments. The U.S. fintech landscape is further bolstered by a high penetration of debit and credit cards, facilitating the adoption of digital wallets. The market is dominated by major players such as PayPal, Stripe, and Venmo, which offer a range of services to both businesses and consumers, contributing to the sector's robust growth prospects.

The U.S. fintech market is poised for continued expansion, driven by the increasing adoption of digital payment systems and the growing acceptance of fintech solutions in everyday transactions. The market's growth is supported by the country's strong e-commerce infrastructure and a diverse, tech-savvy consumer base. As more Americans embrace digital banking and online payment methods, the fintech industry is expected to maintain its upward trajectory. The market is consolidated, with key players employing innovative strategies and forming partnerships to enhance their offerings. Despite emerging regulations, the influx of new startups and investments indicates a vibrant and competitive market landscape, with companies like Chime, Stripe, and iTrustCapital leading the charge.

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United States Fintech Market Size - Table of Contents

1. MARKET DYNAMICS AND INSIGHTS
1. 1.1 Market Overview
2. 1.2 Market Drivers
3. 1.3 Market Restraints
4. 1.4 Industry Attractiveness - Porters' Five Forces Analysis
  1. 1.4.1 Threat of New Entrants
    See Also
    World's leading fintech ecosystems revealed. Where does India stand?
  2. 1.4.2 Bargaining Power of Buyers
  3. 1.4.3 Bargaining Power of Suppliers
  4. 1.4.4 Threat of Substitutes
  5. 1.4.5 Intensity of Competitive Rivalry
5. 1.5 Insights on impact of technology and innovation in Operation in Fintech Market
6. 1.6 Impact of COVID-19 on the Market
2. MARKET SEGMENTATION
1. 2.1 By Service Proposition
  1. 2.1.1 Digital Payments
    1. 2.1.1.1 Mobile POS Payments
    2. 2.1.1.2 Digital Remittance
    3. 2.1.1.3 Digital Commerce
  2. 2.1.2 Digital Investments
    1. 2.1.2.1 Neo-brokers
    2. 2.1.2.2 Robo-Advisors
  3. 2.1.3 Alternative Lending
  4. 2.1.4 Alternative Financing
    1. 2.1.4.1 Crowd Investing
    2. 2.1.4.2 Crowd Funding
  5. 2.1.5 Neo-banking
  6. 2.1.6 Online Insurance and insurance Marketplaces

United States Fintech Market Size FAQs

What is the current United States Fintech Market size?

The United States Fintech Market is projected to register a CAGR of 11% during the forecast period (2024-2029)

Who are the key players in United States Fintech Market?

Stripe, Chime, Klarna, iTrustCapital and Robinhood are the major companies operating in the United States Fintech Market.

United States Fintech Market Size
United States Fintech Market Share
United States Fintech Market Trends
United States Fintech Companies
United States Fintech News

United States Fintech Market Size (2024)

Market Size of United States Fintech Industry

Major Players