The past decade has been a time of great change and growth in the financial sector. A number of new companies have emerged as leaders in their field, while established players have adapted and expanded their offerings to meet the needs of a rapidly changing marketplace. In this article, we take a look at the 5 fastest-growing financial companies in the world. These companies are at the forefront of the industry, leading the way in innovation and customer service. From online banking to mobile payments, they are changing the way we interact with our money. So, without further ado, here are the 5 fastest-growing financial companies in the world.
1.SoFi:
SoFi is a leading online lender and one of the fastest-growing financial companies in the world. Founded in 2011, the company has quickly become a major player in the lending space, offering personal loans, student loans, and mortgage loans to consumers. SoFi has been a disruptive force in the lending industry, using technology to lower costs and make the borrowing process more efficient. The company has also been a pioneer in offering new products, such as its popular SoFi Parent Loan, which allows parents to help their children pay for college. SoFi has experienced tremendous growth in recent years, with its loan portfolio expanding from $4 billion in 2016 to $20 billion in 2018. The company has also been profitable for the past two years and is on track to generate $1 billion in revenue in 2019.
2. Acorns:
Acorns is an investing app that allows users to invest spare change from everyday purchases into a diversified portfolio of stocks and bonds. The app was founded in 2012 and has quickly become one of the most popular investing apps, with over 5 million users. Acorns have been successful by appealing to first-time investors and those who are not actively engaged in investing. The app makes it easy to invest in spare change and has features that make it user-friendly for those who are new to investing. The company has been growing rapidly, with revenue increasing from $12 million in 2016 to $84 million in 2018. Acorns are also profitable and have raised over $200 million from investors.
3. Betterment:
Betterment is an online financial advisor that provides goal-based investment advice to its users. Founded in 2008, Betterment is one of the first robo-advisors and has become one of the largest, with over $15 billion in assets under management. Betterment has been successful in providing simple but effective investment advice to its clients. The company utilizes technology to provide personalized recommendations and automate the investment process. Betterment has seen impressive growth, with assets under management increasing from $1 billion in 2014 to $15 billion in 2018. The company is also profitable and generated $100 million in revenue in 2018.
4. Wealthfront:
Wealthfront is an online financial advisor that provides investment advice and portfolio management services to its users. Founded in 2008, Wealthfront is one of the first robo-advisors and has over $11 billion in assets under management. Wealthfront has been successful by providing simple but effective investment advice to its clients. The company utilizes technology to provide personalized recommendations and automate the investment process. Wealthfront has seen impressive growth, with assets under management increasing from $1 billion in 2014 to $11 billion in 2018. The company is also profitable and generated $100 million in revenue in 2018.
5. Zest Money
ZestMoney is an inclusive consumer loan platform with headquarters in Bangalore that offers equated monthly installments (EMI) to everyone, regardless of credit score. Fast EMI payments to online and offline retailers are made possible by mobile technology, digital banking, and AI. More than 350 people work for the company, which was launched in 2015 and is supported by global financial services investors PayU, Ribbit Capital, and Omidyar Network, among others.
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