2019 was a tremendous year for financial technology startups as the industry garnered the most attention and the adoption rates went quite high as well. Up from $13billion in 2018, fintech firms recorded $18 billion in capital funding in 2019. Well, back in 2018 capital funding did not portend well in the United States due to the 9% in the total VC funding.
Moving forward, Ripple Blockchain firm comes out as the second most valuable fintech company in the united states in terms of valuation. The international remittances firm is valued at $10 billion just behind Stripe; which is valued at a massive $35 billion. Ripple raised $200 million during its investment round back in 2019. In addition, just behind Ripple, Coinbase comes as the third most valuable fintech firm in the U.S.
Ripple and Coinbase Take the Lead
Ripple is making huge progress every day to champion the remittance space. The blockchain firm, now ranked as the second most valuable fintech company in the U.S; sold $500 million of XRP back in 2019. The firm utilised $50 million of the proceeds to invest in a 10% Money Gram stake. The firm also used the majority of the $500 million to expand.
In addition, Coinbase is ranked as the third most valuable fintech firm in the United States. The exchange firm created its reputation as a legally compliant and secure exchange firm. Moreover, a new report by CryptoCompare ranks the firm as the most secure of all exchange firms. However, the firm was red-marked due to users complaints. Coinbase is now valued at $8.1 billion. The exchange platform also specializes in both custodial and wallet services.
Crypto-Related Firms Account for About 33% of Top Ten List
In conclusion, about 33% of the latest list of the top ten most valuable fintech firms is accounted for by cryptocurrency-related companies. Robinhood ranked as the fourth in the list. The mobile application offers its users commission-free trading of stocks, ETFs, options and digital currencies.