Largest fintech unicorns in Europe 2023, by market value

Revolut, the London-based neobank, stood tall as Europe's most valuable fintech unicorn with a staggering market valuation of 45 billion U.S. dollars as of September 2024. This valuation dwarfed that of its closest competitor, Checkout.com, which is valued at 11 billion U.S. dollars. Revolut's dominance extends beyond mere numbers, as it boasted over 35 million customers at the end of 2023, cementing its position as Europe's most widely used neobank.

Global fintech landscape

While European fintechs like Revolut and Checkout.com make waves, the Americas lead in sheer numbers. As of January 2024, the number of fintechs in the Americas amounted to approximately 13,100 fintechs, outpacing both EMEA and Asia Pacific. The United States, in particular, dominates the global fintech scene, boasting roughly five times more unicorns than the United Kingdom. 

Fintech transactions and revenue

The United Kingdom's fintech sector demonstrates its strength not only through unicorn valuations but also in transaction volume and revenue generation. In 2023, UK fintech transactions exceeded 1.2 trillion U.S. dollars, leading Europe, with France and Germany following. Moreover, the UK generated an estimated 3.36 billion U.S. dollars in fintech revenue, surpassing Germany's 2.9 billion and France's 1.5 billion. These figures underscore the UK's position as a fintech powerhouse within Europe.