There’s really only one dominant company in financial tech
There’s a lot of hype around the new crop of financial tech companies aiming to disrupt how we save, invest, buy, and move money around.
But the company that kicked off the first financial tech revolution is still around, and it’s much bigger than all the newcomers. PayPal was founded in 1998 and quickly became the dominant way to pay for things on eBay — so much so that eBay bought the company in 2002. It spun back out again as an independent public company last year, and now has a market cap around $47 billion. That makes it worth more than all the other financial tech startups on this chart from Statista, combined.
Then again, if you expand the definition of “financial tech” to include traditional players like banks and credit card companies, PayPal once again looks like a small fish.