Digital-first banks aim to make banking faster, smarter, and cheaper. Our graphic visualizes the 10 most highly valued challenger banks worldwide.
Digital-first challenger banks are employing mobile apps, APIs, software integrations, and more to recreate the consumer banking experience.
Challenger banks have sparked substantial investor interest, receiving a record $5.3B in equity funding across 138 deals in 2019.
Using CB Insights data, our graphic visualizes the 10 most valuable challenger banks worldwide.
Our analysis includes venture-backed, privately held companies only. Data is as of 8/25/20. Please click to enlarge.
Highlights
- These top 10 challenger banks represent 5 countries across 3 continents. Notably, Europe’s open banking regulations gave rise to the first wave of challenger banks, which includes England-based Revolut and Germany-based N26.
- Latin America has increasingly invited fintech innovation, nurturing challenger banks like Brazil-based Nubank and Argentina-based Uala — both of which are included in our market map of 180+ fintech companies shaping the region.
- 6 of the 10 companies in our graphic have raised funding in 2020 so far. This has included 4 mega-rounds (deals worth $100M+).
For a deeper dive, check out our business model spotlights for Chime, Revolut, and SoFi. We also break down the challenger bank playbook here.
This report was created with data from CB Insights’ emerging technology insights platform, which offers clarity into emerging tech and new business strategies through tools like:
- Earnings Transcripts Search Engine & Analytics to get an information edge on competitors’ and incumbents’ strategies
- Patent Analytics to see where innovation is happening next
- Company Mosaic Scores to evaluate startup health, based on our National Science Foundation-backed algorithm
- Business Relationships to quickly see a company’s competitors, partners, and more
- Market Sizing Tools to visualize market growth and spot the next big opportunity