For the past seven years, we’ve published our annual Fintech 50 list, covering the top private companies that are transforming finance through technology. (Here’s last year’s Fintech 50.) From digital banks and payments startups to cryptocurrency companies trying to build a new financial system, these businesses are improving the cost, efficiency and access of financial services.
We’re updating the list for the eighth year, a months-long process that involves a team of 10 reporters and editors. We divide the work into fintech subcategories, speak with industry investors, analysts, entrepreneurs and executives, evaluate hundreds of companies and ultimately choose 50.
This year, we’re changing the application process to make it simpler. There is only one form for company representatives to fill out (see the link at the end of this article). We no longer have a form for the general public to submit nominations, but if you’re not a company representative and you have a tip on an under-the-radar business that we should consider, we’d still love to hear from you. Please email [email protected] and explain why you think a company should make the list.
Please read our methodology below before applying. The more you can share about your company’s growth, including revenue over the past two years, the more likely you’ll stand out among your peers.
Fintech 50 Methodology
We look for companies making a deep impact on consumers and businesses through innovation. This typically means they’re growing faster than competitors, regularly releasing new products or making major strategic improvements—not simply offering services that have looked the same for years.
We don’t base the list solely on quantitative metrics or require a minimum amount of revenue or number of customers. We also don’t have a cap for business size, but the companies we select tend to be venture-backed startups, since they’re often best equipped to drive industry change. Public companies or their subsidiaries are not eligible for the Fintech 50.
Other important criteria we consider for each candidate:
- How much it has grown in sales and/or users over the past year and how that compares with the growth of competitors.
- Whether it has a live product available to the public, or one that will soon be available.
- Novelty of the product and business model.
- Whether it has significant operations or headquarters in the U.S.
- Diversity of the leadership team.
- We define fintech companies as those that apply technology to the categories of business-to-business banking, insurance, investing, payments, personal finance (budgeting, digital banking, consumer credit and lending, etc.), real estate, Wall Street and enterprise (includes trading and capital markets) and other business-to-business financial software. We consider blockchain and cryptocurrency companies for this list.
Fintech 50 Application Form
To apply, please complete the Fintech 50 application form by EOD Friday, 3/31/23.