The Best FinTechs to work for in 2020

04-02-2020 | The Blog Series

We have prepared a list of some of the well-established and/or rapidly growing FinTechs in the industry. Continue reading to find out which are the best FinTechs to work for in 2020.

Nowadays, many professionals are drawn to Fintech. One might be wondering what are the benefits of being in this sector. Commonly, the aspects that appeal to talents are the culture (opposed to the corporate organization many financial institutions have), diversity of work within this disruptive environment and the possibility to contribute to making your FinTech a global player. Among the best fintechs to work for that you need to consider are the following:

1. Stripe

Stripe is a FinTech company that was established in 2010 by the brothers Patrick and John Collison. The company operates globally and is headquartered in San Francisco, and tops our list of best FinTechs to work for. 

The company is a part of the global e-payment industry. Stripe was born with the idea to launch a developer-focused, instant payment platform that any company could integrate. In essence, it allows businesses as well as independent individuals to accept payments over the Internet.

Currently, thousands of companies are using Stripe’s software to accept payments from all over the world. Amazon, Google, and Slack are among Stripe’s clients.

In September 2019 Stripe further developed its services by getting into lending. The launch of Stripe Capital aims at helping  SMEs develop by offering the possibility for online loans. Furthermore, the company announced the opening of its next engineering hub in Singapore, due to the increased growth of e-commerce. 

The company is valued at $22.5 billion. Furthermore, Striped ranked 13th on the 2019 CNBC Disruptor 50 list.

2. Klarna

Klarna was established in 2005 in Stockholm, Sweden. The Fintech was launched with the purpose to provide consumers with an easier online shopping experience by offering a smooth payment process. The company is currently operating in 17 countries. Klarna is already among the biggest European banks with 80 million end-customers. Klarna works with over 190 000 merchants and executes 1 million transactions per day.

Klarna’s offerings include direct payments, quick and easy installment plans, pay after delivery options, etc. After May 2019, Klarna also offers a direct-to-consumer shopping app, which seems to be growing rapidly. There is a four-time increase in the active monthly users of the app and ten times more transactions since the initial launch. In October 2019 the app became the most trending shopping app on the US Google Play Store.

In August 2019, Klarna was valued at $5.5 billion, making it the most valuable private FinTech in Europe.

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3. Monzo

Monzo is a challenger bank founded and based in The United Kingdom in 2015. Initially, Monzo offered consumers the possibility to transfer money on a pre-paid debit card and follow their transactions through an app. After receiving a Financial Conduct Authority (FCA) license, the company started offering full digital banking services. Now it allows customers to have a full current account, savings account (with other banks but managed from the Monzo’s app), and personal loans. The user’s account is fully controlled through the app.

Challenger banks are notorious for their disruptive technology and emphasis on convenience and satisfying customer experience. Similarly, Monzo received multiple awards and recognition for its app, turning it into the fastest-growing bank in the U.K. However, the most recent buzz around Monzo contains claims that the bank freezes accounts without a reason and that it refuses to refund fraudulent payments.

4. Adyen 

Adyen is a FinTech company founded in 2006 and based in Amsterdam. However, this FinTech has offices around the world. Adyen processes frictionless payments across online and offline channels. It offers an end-to-end infrastructure that directly connects to Mastercard, Visa, or other payment methods favored by customers. Adyen is currently working with more than 4,500 businesses. These include companies such as Facebook, Uber, Airbnb, Netflix, L’Oreal, Spotify Booking.com, KLM. The company was recognized as one of the leaders in Global Commerce Payment Providers.

5. Wirecard

To conlude the list of best FinTechs to work for, we included a long-time key industry player. Wirecard is a German digital payment company founded in 1999. Currently, the company has offices in 26 different locations and more than 5300 employees around the world. Wirecard specializes in financial commerce, offering electronic payment transactions, issuing of account and card products, and risk management.

Wirecard is among the global leaders in enabling companies to accept electronic payments from a variety of channels. Their name is usually related to innovation and disruptive technology in the digital financial sector. The company’s latest development includes a collaboration with EasyTransfer, which will allow Chinese students that are studying outside of the country to make seamless mobile payments through a new mobile app.

Do you think we left out a company or do you believe that your company belongs on this list? Get in touch with our Marketing Manager, Jamyl Jonker by sending an email to jamyl@paymentgenes.com.

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