US, China lead on most valuable firms

Chinese and US flags fly outside a hotel during a 2012 U.S. presidential election results event organized by the US embassy in Beijing on November 7, 2012.

Ed Jones | AFP | Getty Images

From the U.S. to China, countries around the world are battling it out to lead on financial technology, a heavily lucrative industry that has grown over the years taking everything from retail banking to wealth management online.

Since the 2008 financial crisis, thousands of new firms have been set up with the aim of taking on the financial incumbents and providing more accessible services to both consumers and businesses alike.

In the U.K., startups like Monzo and Starling took the banking world by storm with their digital-only offerings, while in China, Alibaba and Tencent launched their own respective mobile wallets, Alipay and WeChat Pay.

CNBC and Statista announce top 200 global fintech companies

In August, CNBC, in partnership with Statista, launched a list of the world’s top fintechs. To choose the top global firms, Statista used a rigorous method that evaluated a few key business metrics and fundamentals, including revenue and number of employees.

Statista identified 200 of the top companies globally, across nine categories including neobanking, digital payments, digital assets, digital financial planning, digital wealth management, alternate financing, alternate lending, digital banking solutions, and digital business solutions.

Using additional data provided by Statista, CNBC analyzed the top nations overall when it comes to financial technology, splitting the analysis into three main areas of focus:

  • The countries with the most valuable fintech industries based on market capitalization.
  • Overall number of top fintech firms, as identified by Statista.
  • The amount of “unicorn” companies with valuations of $1 billion or more across different countries.

So, which countries are at the top of their game when it comes to fintech? In three charts, here’s what we found.

U.S., China home to most valuable fintechs

The U.S. is home to most valuable financial technology companies in the world in 2023, according to Statista data — but China isn’t far behind with mega-payments firms like Tencent and Ant Group making the country a solid second.

The valuation data is up to date as of April 2023, with the exception of Ant Group, Stripe, Nubank,, Revolut, Chime, Polygon, Rapyd, Ripple, Blockchain, and Plaid.

Combined, the U.S. produces the most value in terms of fintech, with eight of the top 15 highest-valued financial technology companies in the world worth a combined $1.2 trillion based stateside.

Visa and Mastercard are the two biggest fintech firms by market value, with a collective market capitalization of $800.7 billion.

China is home to the second-most highly valued fintech industry, with its financial technology giants worth a combined $338.92 billion in total market capitalization.

UK has second-biggest number of top fintech firms

The U.S. was home to 65 of the top fintech companies, according to CNBC’s list of world’s…

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