The 10 Biggest Fintech Companies In America 2022

June 7, 2022

Fintech’s mightiest privately owned companies continued to grow over the past year, but declining investment in the industry signals stormy waters ahead. It’s turning into a sobering year for fintech. After a carnival of new unicorns and mega-funding rounds in 2021, private fintech companies are now scrambling to cut costs and stretch out the funds they have to avoid needing to raise additional money at a lower valuation (known as a “down round”). Their fear is well grounded. With publicly traded fintech companies down 50% since November, venture capitalists are putting the brakes on funding for startups in the sector; U.S. fintechs raised $13.3 billion during the first quarter of 2022, a 27% decline compared with that same period last year, according to a report by data provider CB Insights. Even more dramatic, according to the report: the median valuation of late-stage American fintechs that raised money in the first quarter of 2022 was $1.9 billion, 58% lower than those that raised funding in the last quarter of 2021.