Borderline Payment Showdown: Established Players versus Newcomers

In the realm of fintech and startups, the landscape has undergone a remarkable transformation over the past decade. As we delve into this dynamic sector, our focus is on cross-border payments, a critical aspect of the global financial system.

The journey began in 2007, a year marked by the launch of the first iPhone, signalling a new phase in mobile technology. Around the same time, smartphone usage in the United States was just starting to be tracked, with less than a third of the population using smartphones. Fast forward to today, and close to three quarters of the population are smartphone users.

The fintech and startup landscape, with its diverse and extensive nature, is no exception to this growth. Over 14,000 players are being tracked in this space, a testament to the rapid evolution and expansion of the industry. This mapping includes both the challengers, typically founded in the last 10 years, and incumbents.

The years following the Great Recession (around 2008-2009) saw little activity in the fintech and startup landscape. Tighter capital markets and less risk-taking in financial services led to a slowdown in new company establishments. However, the few years that followed were marked by a resurgence, with companies like TransferWise, WorldRemit, and Remitly being established in 2010, 2010, and 2011 respectively. These startups, known for their significant funding, are among the best in the fintech space.

Interestingly, the three best-financed fintech startups founded between 2010 and 2011 are not directly listed in the provided search results. Notable fintechs mentioned include Kabbage (founded 2009) with significant bank partnerships and MoMo (founded 2010) in Southeast Asia with over $433 million raised. However, a comprehensive list of the top three startups from 2010-2011 is not readily available in the search results.

For those interested in gaining more insights into this fascinating landscape, a free account can be created to access extensive research and analysis on cross-border payments globally. This account also grants access to the industry-leading newsletter. The article, written by Daniel Webber, provides valuable information and is ad-free. For more information about Daniel, his LinkedIn profile is provided.

It's important to note that the mapping presented is just one piece of the overall fintech and startup landscape. The advancements in mobile technology, particularly since the launch of the first iPhone in 2007, have significantly influenced this landscape.

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Join us as we continue to explore the ever-evolving world of fintech and startups, and the impact they are having on cross-border payments.