The US Has More Fintech Unicorns Than The Next 20 Countries Combined

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The US Has More Fintech Unicorns Than The Next 20 Countries Combined
The US Has More Fintech Unicorns Than The Next 20 Countries Combined

The United States leads in the number of fintech Unicorns globally. That’s per a TradingPlatforms.com analysis of the global unicorn trends.

It concludes that America contributes to 81 fintech firms with valuations over $1 billion. That figure gives the U.S. a 51% dominance over the other nations.

“The reasons for this dominance are two-fold: funding and innovation capability, “holds Trading Platforms’ Edith Reads. She further asserts, “The U.S has more venture capital funding than any other country. This allows entrepreneurs to launch projects without worrying about funding. It also boasts greater innovation capabilities than most countries due to its strong education system that encourages experimentation with ideas and solutions.”

China follows the U.S, a distant second, with 11 startups attaining the unicorn status. Meanwhile, the UK and India have 10 and 9 institutions, respectively. Brazil and Germany tie in the fifth spot with 7 of these each.

New frontiers for fintech unicorns

The sector is recording massive growth in countries like China and India. Others, including Brazil and Malaysia, are also following suit. These two countries jointly host over 380 fintech companies, which means they could be home to the next generation of fintech unicorns.

Brazil has been building its fintech ecosystem. For example, it is working towards boosting market competition and expanding the scope of financial education. Moreover, it is implementing open banking, which could support Brazilian businesses in implementing new technologies.

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Malaysia’s huge unbanked and underbanked population provides the ideal environment for fintech firms to thrive. In addition, the country has a high mobile penetration rate, a big boon for companies pursuing fintech opportunities. Some estimates say e-payments companies make up nearly 40% of the country’s fintech industry.

The full story and statistics can be found here: The US has more Fintech Unicorns than the next 20 Countries Combined