A buzzword in recent years, Fintech shifts the way money is managed and even makes easier to conduct a transaction between two entities. By offering better services while improving the standards, fintechs are muddying the water over traditional banking systems. With no signs seen of slowing down, fintech could be making a big win in the coming years. Here’s a detailed overview of the most prominent leaders in the world of fintech worth keeping an eye on.
SeedInvest
Since its outset in the year 2012, SeedInvest has emerged to be an online platform that aims to make fundraising and investing quick, easy and accessible to everyone. Based in New York, the firm connects investors and startups online to make the process of crowdfunding easy and effortless. The company is presently serving 500 startup firms. To make an investment on this leading equity crowdfunding platform, the firms first need to register and qualify the offerings with both State and Federal regulators. The high growing startups which are preferred by SeedInvest can gain access to a large pool of 10,000 investors who by and large are looking to devote $500 million in startups. A clue of interest made by an expected investor does not require any kind of commitment.
Square
By removing the hassle and expense of processing credit card payments, Square emerges as a simple and tech-driven answer for businesses including retail, food, services providers, organizations and many others to name.
Square’s simplest mobile credit card swiper works from a brick and mortar solution to trade shows or events. All business owners simply need to download the app and start using it for payments. Other than processing credit cards on mobile, Square comes with additional benefits to help small businesses grow. Square does not require setting up a merchant account, so there is no point worrying about a credit card check or a lengthy application. This means anyone can virtually use the service and open an account right away.
TransferWise
The global money transfer startup, TransferWise is a peer to peer Fintech startup which lets people send money abroad at the lowest possible cost. Backed by a smart team of investors, TransferWise lets you make transfers between international bank accounts by saving your money when you send overseas. Being incredibly straightforward, the startup has built a devoted fanbase by acting as a lifesaver for managing finances.
Launched in the year 2011, TransferWise is headquartered in London with offices in New York. It supports more than 300 currency across the world. The difference how TransferWise routes its payments lies in the fact that the money being transferred by the sender is redirected to the recipient of an equivalent transfer moving in the opposite direction. Therefore, the recipient of transfer receives payment not from the sender initiating the transfer but from the sender of equivalent transfer. The process is well-acclaimed for avoiding transfers crossing borders and costly conversions.
Venmo
Venmo quickens money transfers between individuals by allowing customers to pay back to people in their network for any reason. Being a free-to-use platform, Venmo generates profit via the transaction fees. Bringing into notice its trust features, i.e “auto-pay between friends”, Venmo’s app is simple, fun and fast to be used. Users can directly sign up with a social media account and pay anyone instantly using the money they have in their Venmo account.
Stripe
With its presence across 25 countries, Stripe is an American Fintech startup that allows both private individuals and businesses to accept payments over the web. Initially designed keeping the developers in mind, Stripe ensures safe payments by focusing on fraud prevention techniques. Using the app, developers can easily integrate payment processing in their websites without having to create a merchant account.
Stripe has its name associated with several global platforms like Kickstarter, Deliveroo and Shopify to make its services available in Singapore. The company launched its bitcoin payment integration in the year 2015 that allows any merchant within the network with a US dollar bank account to accept the digital currency.
Instant Payouts, a recently launched service by the firm can be sent directly to service provider’s debit cards and funds that are deposited into the bank account linked to the card automatically.
The list mentioned above offers an in-depth view of the most startling fintech startups which are taking advantage of the technology to revolutionize the finance industry. Fintech is definitely going to be an exciting space for all those planning to contribute to the sector.
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