India secured 3rd place in terms of the number of fintech unicorns worldwide

India is ranked third with 17 fintech unicorns as of 2023, whereas the US is home to 134 unicorns and generates the greatest value in the fintech industry.

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According to research firm Statista, the US ranks second with 27 fintech unicorns this year.

In the world of venture capital, a startup that is valued at $1 billion is referred to as a unicorn.

What is Unicorn?

Aileen Lee, the founder of Cowboy Ventures, originally used the word "unicorn" to describe the 39 companies that were valued at more than $1 billion. Originally, the phrase was used to highlight how uncommon these kinds of companies were. Since then, the definition of a unicorn startup has not altered. On the other hand, unicorn counts have increased.

Largest Fintech companies based in United states

These eight unicorns are valued at a total of $1.2 trillion, including Visa ($465.13 billion) and MasterCard ($344.57 billion). Despite having just eight unicorns living there, China came in second. With the addition of titans like Tencent ($187.92 billion) and Ant Financial ($151 billion), the nation's total financial market capitalization now stands at $338.92 billion.

The largest fintech companies in the world by market capitalization are based in the US, according to Statista, with Visa, Paypal, and Mastercard leading the way in the global ecosystem. Eight US-based fintech companies are among the top 15 most valuable in the world.

In terms of the number of financial technology (fintech) unicorns worldwide in 2023, India came in third, while the US and the UK continued to hold the top two spots.

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