12 Little-Known Fintech Unicorns Making Big Waves

While big names like PayPal and Stripe dominate the headlines, a wave of lesser-known fintech unicorns is driving innovation across various markets and financial services. From digital banking to cross-border payments, these companies are reshaping the financial landscape in unexpected ways. This article explores 12 little-known fintech unicorns, each bringing unique solutions to global financial challenges.

“A unicorn is a startup company valued at over US$1 billion which is privately owned and not listed on a share market.” – Aileen Lee

1. Airwallex

Airwallex is a global financial technology company based in Australia. Founded in 2015, it provides payment solutions primarily for businesses engaging in cross-border transactions. Airwallex enables companies to open foreign currency accounts, access FX transactions, and make international payments at competitive exchange rates.The platform also offers multi-currency corporate cards and simplified international payment processes. It partners with major banks and financial institutions worldwide, integrating its services for streamlined business transactions.

Airwallex focuses on helping small to medium-sized businesses manage payments and expenses across borders. Its main advantage is in reducing currency conversion fees and transaction complexities. The company has expanded rapidly, with operations in North America, Europe, and Asia-Pacific regions. Airwallex supports transactions in over 130 countries and 50 currencies. It is well-regarded for its easy API integrations, helping businesses to incorporate international payments into their existing financial frameworks.

2. Bitpanda

Bitpanda is a European-based investment platform launched in 2014 in Austria. It allows users to buy, sell, and hold various assets, including cryptocurrencies, stocks, and precious metals. Bitpanda provides digital wallets, enabling users to manage multiple assets within one platform. It has gained popularity due to its user-friendly interface and diverse investment options.

Bitpanda’s platform operates under the European Union’s strict financial regulations, focusing on transparency and security. The company has also expanded its offerings to include a B2B arm, Bitpanda White Label, enabling companies to integrate digital assets into their services. Bitpanda also launched Bitpanda Pro, a platform designed for professionals and institutions with high trading volumes.

3. BharatPe

BharatPe is an Indian fintech company founded in 2018. It primarily serves merchants, enabling them to accept digital payments using a QR code-based system. BharatPe has simplified payment collection by allowing merchants to accept multiple forms of UPI payments with one code. It has also introduced various credit products tailored for small businesses, such as loans and credit lines.

The company supports businesses in managing cash flow and provides avenues for growth. BharatPe’s digital wallet offers a convenient way for merchants to access funds from their sales. Recently, it expanded into other financial services, including BNPL (Buy Now, Pay Later) options and investment products.

4. C6 Bank

C6 Bank is a digital bank based in Brazil, founded in 2018. The bank offers a variety of financial products, including savings accounts, credit cards, and loans, without requiring customers to visit physical branches. C6 Bank’s services are mobile-based, focusing on user convenience and accessibility.

C6 Bank also provides innovative features, like a virtual card for secure online transactions and flexible loan options. It targets individual and corporate clients, especially small businesses looking for digital solutions. Through partnerships with companies like TIM, a telecommunications provider, it has expanded its reach.

5. ChipperCash

Chipper Cash, founded in 2018, is a fintech company operating in Africa. It provides cross-border payment solutions for individuals and businesses across the continent. Chipper Cash’s platform allows for fee-free transactions, making it accessible to people with limited financial resources. Users can also buy and sell cryptocurrencies on the platform, diversifying their financial opportunities.

The company has expanded its services to include more than just money transfers. Chipper Cash now offers a digital wallet, bill payments, and investment options. Its focus is on enabling financial inclusivity for Africa’s unbanked population. Chipper Cash currently operates in several African countries and has recently entered the U.S. market for African diaspora remittances.

6. Deel

Deel is a payroll and compliance platform for international teams, launched in 2018. It allows companies to hire, onboard, and pay remote employees from over 150 countries. Deel handles the complexities of international payroll, taxes, and compliance, simplifying cross-border hiring. The platform supports full-time employees, freelancers, and contractors, offering flexibility for businesses of all sizes.

The company provides local payroll options and manages benefits, helping businesses stay compliant with local laws. Deel integrates with major accounting and payroll systems, providing a seamless experience for HR teams. Deel also offers country-specific contracts, ensuring legal accuracy in each region.

7. DriveWealth

DriveWealth is a U.S.-based fintech company that offers a brokerage-as-a-service platform. Founded in 2012, it allows businesses to integrate stock trading capabilities into their own applications. DriveWealth partners with banks, fintechs, and other companies to make investing accessible to a broader audience.

The firm provides APIs for integration, enabling companies to customize the trading experience. DriveWealth’s infrastructure is adaptable to global markets, supporting both individual and institutional investors. It emphasizes compliance and security, catering to partners who require regulated investment solutions.

8. Flutterwave

Flutterwave is a Nigerian fintech founded in 2016, offering payment solutions for businesses across Africa. It provides payment processing services, enabling companies to accept payments from different methods, including cards and mobile money. The platform also supports cross-border transactions. Flutterwave also launched a consumer-facing product, Barter, which allows users to create virtual cards for online purchases.

It partners with global companies to broaden its reach, such as with Visa and Alipay. Flutterwave’s infrastructure is designed to cater to Africa’s growing digital economy, addressing the continent’s specific payment challenges. It serves various sectors, including e-commerce, education, and healthcare.

9. Groww

Groww is an Indian investment platform founded in 2016. It enables users to invest in mutual funds, stocks, and other financial products via a mobile app. Groww’s interface is simple, making investing accessible for beginners and younger users. It offers insights, tools, and resources to help investors make informed decisions.

The company has expanded to offer stock trading, allowing users to buy and sell Indian stocks directly. Groww also provides various financial education resources to promote investor knowledge. It serves India’s growing middle class and is regulated by SEBI, ensuring transparency and security. Groww is widely used by people who are new to investing and want a straightforward experience.

10. Jeeves

Jeeves, founded in 2020, provides expense management and corporate card solutions for startups and SMEs. The company offers multi-currency cards that help businesses manage expenses across different markets. Jeeves aims to simplify expense tracking and control by offering real-time spending insights. It’s particularly beneficial for companies operating in multiple countries.

Jeeves also provides credit solutions for businesses, helping them with working capital management. The platform integrates with major accounting software, streamlining financial processes for businesses. Jeeves operates in North America, Latin America, and Europe, positioning itself as a financial management solution for high-growth companies. Its focus is on providing a one-stop platform for corporate spending and expenses.

11. Klarna

Klarna, founded in Sweden in 2005, is one of the pioneers of the buy-now-pay-later (BNPL) model. It offers consumers the option to pay for purchases in installments or after delivery. Klarna partners with major retailers, embedding its services into the checkout process for seamless integration. The company operates primarily in Europe and the U.S., supporting both online and in-store purchases.

Klarna also provides a mobile app where users can track their purchases, make payments, and access special deals. The app serves as a one-stop-shop for managing BNPL transactions. Klarna’s model has faced regulatory scrutiny due to the potential for increased consumer debt. Despite this, it continues to expand its reach and diversify its product offerings to include financial wellness features.

12. Mambu

Mambu is a German-based fintech offering a cloud banking platform, established in 2011. It provides banking infrastructure for financial institutions, enabling them to launch digital products quickly. Mambu’s platform is modular, allowing banks to pick and choose the components they need. It supports a wide range of financial products, including loans, savings, and mortgages.

Mambu works with traditional banks, microfinance institutions, and fintechs, offering tailored solutions for each. Its platform is API-driven, allowing clients to integrate it with other financial tools easily. Mambu’s technology allows for scalability, making it popular with institutions looking to modernize their infrastructure. It focuses on helping financial institutions reduce costs and speed up their digital transformation efforts.

Sum Up

The fintech unicorns highlighted in this article demonstrate the diverse ways emerging companies are revolutionizing finance. From seamless payment solutions to innovative investment platforms, each unicorn brings unique capabilities that address distinct financial needs worldwide.

While these companies may be less well-known, their impact on global finance is growing steadily. As these fintech unicorns continue to expand, they shape the future of financial services and set new industry standards.

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Tags: digital, emerging, finance, fintech, growth.