Americas Lead Global Fintech Growth with Over 13,100 Firms in 2024

Americas stand at the forefront of the global fintech revolution. Data from BanklessTimes.com shows the Americas (North America, South America, Central America, and the Caribbean) leading in global fintech growth, boasting over 13,100 firms in 2024.

Jonathan Merry, the CEO of BanklessTimes, commented:

The world has been open to fintech for almost a decade due to its convenience and reliability. However, different regions are experiencing different growth rates. Americas, particularly North America, are propelled by rapid technological innovations, driving faster growth than other regions.

BanklessTimes CEO, Jonathan Merry

Regional Performance

Although America occupies a larger share of fintech companies, other regions show great potential. From 2023, the Asia-Pacific (APAC) region has experienced 16.3% growth, with the number of companies rising from 5061 to 5886. Similarly, the Europe, Middle East, and Africa (EMEA) region grew 13.3%, increasing from 9,681 to 10,969 companies during the same period.

The U.S. and Canada are North America’s primary drivers of fintech growth, with the top five largest fintech companies. The two Nations have advanced infrastructures and an ideal environment for Fintech startups to grow.

In Europe, the United Kingdom, France, and Germany collectively represent a total investment value of $7.4 billion. The U.K. is by far the leader in fintech investments, with up to $5.1 billion. Globally, 3.57 billion users rely on fintech for payments, 0.83 billion people hold digital assets, while 0.59 billion users make digital investments.

The global fintech market was valued at $294.74 billion in 2023. So far, it is poised to rise to $340.10 billion in 2024, with further projections indicating a staggering increase to $1,152.06 billion by 2032 at a CAGR of 16.5%.

Looking Beyond the Horizon

The fintech future is promising, and with innovations and investments, the industry will grow bigger. Central to this growth will be blockchain technology, which will boost DeFi. Artificial intelligence will also contribute to fintech’s growth.

However, as fintech continues its growth journey, clearer regulatory guidelines are needed. These guidelines will be critical in ensuring accountability and user safety as the world adopts this technology.