May 2026
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Largest Neobanking Public Companies
Benchmark revenue and EBITDA valuation multiples for public comps like
Nubank, SoFi, Jio Financial Services, PayPay and Paytm.
 | Nu Holdings Ltd provides digital banking services. It offers several financial services such as Credit cards, Personal accounts, Investments, Personal Loans, Insurance, Mobile payments, Business Accounts, and Rewards. The company earns the majority of its revenue in Brazil. | $12 | +1% | $59B | $57B | 3.6x | — | ||
 | SoFi is a financial-services company that was founded in 2011 and is based in San Francisco. Initially known for its student loan refinancing business, the company has expanded its product offerings to include personal loans, credit cards, mortgages, investment accounts, banking services, and financial planning. The company intends to be a one-stop shop for its clients' finances and operates solely through its mobile app and website. Through its acquisition of Galileo in 2020, the company also offers payment and account services for debit cards and digital banking. | $16 | +17% | $20B | $22B | 6.1x | 20.8x | ||
 | Jio Financial Services Ltd is a core investment company, non-deposit taking, systemically important (CIC-ND-SI). Along with its subsidiaries, joint ventures, and associates, it is engaged in the business of Investing and Financing, mainly Leasing, Insurance broking, Payment Bank, Payment Aggregator, and Payment Gateway services. | $2 | -22% | $16B | $18B | 59.5x | 64.1x | ||
 | PayPay Corp is a Japan-based financial technology provider operating a digital finance platform that integrates payments, banking, credit, and investment services for individuals and businesses. Its platform connects users and merchants, facilitating a cashless ecosystem and providing an all-in-one solution for daily financial activities. The company operates in two reportable segments: i) Payment segment and ii) Financial service segment. The majority of the company's revenue is derived from the Financial service segment, which includes internet banking services, securities intermediary services and PayPay Point investment-related services, and loan management services. Geographically, it operates predominantly in Japan. | $19 | -- | $13B | $14B | 7.8x | 37.7x | ||
| One97 Communications Ltd is a digital ecosystem for consumers and merchants. The company is in the business of providing a) payment and financial services which mainly include payment facilitator services, facilitation of consumer and merchant loan distribution to consumers and merchants, wealth management, etc. b) marketing services which consist of aggregator for digital products, ticketing business, providing voice and messaging platforms to the telecom operators and enterprise customers and other businesses. The group generates the majority of its revenue from customers domiciled in India. | $12 | +22% | $8B | $6B | 6.6x | 47.5x | ||
 | KakaoBank Corp offers banking and other financial services. It offers a range of banking services such as deposits, lending, debit/credit cards, and international money transfers. It also provides various card products and digital financial services tailored for individuals, groups, and small business owners. | $15 | -5% | $7B | $7B | 6.8x | — | ||
| Chime Financial Inc is a financial technology company that believes in core banking services. | $18 | -- | $7B | $6B | 2.7x | 46.3x | ||
| Rakuten Bank Ltd is engaged in the banking business through an electronic medium. | $38 | -20% | $7B | $24B | 31.5x | — | ||
 | Klarna is the largest pure-play in the buy now, pay later space. The company operates a two-sided network with a payment method at its core, but it is ultimately a lender. Merchants sign up with Klarna to increase turnover in their stores. Primarily, Klarna can provide merchants with higher conversion rates and average order values relative to other payment methods. Some merchants enter a symbiotic relationship with Klarna, advertising its brand on the product page to drive conversion and to benefit from Klarna’s brand value in the merchant’s sales funnel. Customers use Klarna for its ease of use, quick access to credit, zero-interest financing, and lower reminder fees. | BNPL+3 | $15 | -- | $6B | $3B | 0.9x | 5.6x | |
| kakaopay Corp is a mobile payment and digital wallet service provider. It provides easy payment, easy remittance, and other financial services. It operates in two segments: Financial Services and Non-financial Services. | $34 | +34% | $5B | $2B | 3.0x | 22.1x | ||
| NOBA Bank Group AB (publ) is a European specialist bank operating through three brands: Nordax Bank, Bank Norwegian, and Svensk Hypotekspension. It offers retail financial products in four main segments: Private Loans, Credit Cards, Secured Loans (including specialist and equity release mortgages), and Other services such as deposits. Geographically, the company operates in eight countries, with a presence in the Nordic region (Sweden, Norway, Finland, Denmark), as well as Germany, Spain, the Netherlands, and Ireland. The company serves over two million customers across these regions, with lending activities covering private loans in the Nordics, credit cards in the Nordics and Germany, and deposit products available in all these markets. | $8 | -- | $4B | $7B | 5.6x | — | ||
| Dave Inc is a financial services company. It is engaged in offering banking app that offers its customers banking, financial insights, overdraft protection, building credit and finding side gigs. | $236 | +17% | $3B | $3B | 5.6x | 13.6x | ||
| Inter & Co Inc operates as a digital bank. The company's segment includes Banking & Spending; Investments; Insurance Brokerage; and Inter Shop. It generates maximum revenue from the Banking & Spending segment which comprises a wide range of banking products and services, such as checking accounts, cards, deposits, loans and advances, and other services, which are available to the clients by means of Inter’s mobile application. | $6 | -18% | $3B | $5B | 3.2x | — | ||
 | Banco Invex SA Institucion De Banca Multiple-Invex Grupo Financiero is a Mexican financial institution which delivers specialized solutions. The company's business divisions are Private Banking, Business Banking, Cards, Trust, Infrastructure, and Leasing. The services provided by the company includes provision of banking and credit financial services, transactional and fiduciary services, granting of finance to corporate clients, large and medium-sized businesses through commercial loans, working capital credit lines, and other. It also offers various products such as the issuance of letters of credit, transactions with derivatives, financial counseling, and financial factoring operation. | $1 | +10% | $2B | ($2B) | (3.7x) | — | ||
| Wealthfront Corp is a technology company that built a financial solutions platform for digital natives. Its platform is designed to address the needs of the wealth builders within these generations. | $11 | -- | $2B | $1B | 3.4x | 7.3x | ||
 | PT Super Bank Indonesia Tbk is a bank in Indonesia that provides digital banking services. It offers digital solutions for a range of customer segments, including underbanked and unbanked communities and micro, small, and medium enterprises (MSMEs). The company offers a variety of digital banking solutions through the Superbank, Grab, and OVO applications, including savings accounts, digital loans, and easy-to-use payment solutions. | $0 | -- | $2B | $2B | 17.7x | — | ||
| Kbank is an internet-only bank; it is pursuing a variety of non-face-to-face lending and deposit services and platform businesses. It leverages technologies like AI, cloud computing, and others to provide greater benefits and enjoyment, while streamlining complex procedures to maximize customer convenience. The group provides products such as Deposits, Loans, cards, and Others. | $4 | -- | $1B | ($2B) | (5.8x) | — | ||
| PicS NV is a digital payments company. The company operates a peer-to-peer (P2P) transfer platform that enables individuals to send money via mobile devices. It provides digital wallets, instant payments (Pix), P2P transfers, credit cards, loans, investments, insurance, and SMB payment solutions. The company has four reportable segments: Consumer Banking, Small and Medium-Sized Businesses, Audiences and Ecosystem Integration, and Institutional. The majority of the company's revenue is derived from the Consumer Banking segment, which generates revenue from various transaction activities occurring in the digital wallet, such as Pix, peer-to-peer (P2P) transfers, and bill payments. | $10 | -- | $1B | $2B | 0.8x | 7.6x | ||
| AGI Inc is a technology-powered provider of specialized financial services in Brazil. It empowers clients to access their social security benefits, severance fund benefits, and public or private sector payrolls through secured lending solutions and complementary banking, credit and insurance products tailored as per client needs. The company has one operating segment related to the banking business. The Bank provides a standardized set of financial products and services exclusively to individuals, mainly focused on credit, including digital accounts, cards, payroll and personal loans, and insurance offered through partners. | $7 | -- | $1B | $2B | 1.2x | — | ||
| PT Bank Jago Tbk is an Indonesia-based banking company. It offers various banking products and services that are categorized into funding and lending activities, along with other supporting banking services. Its funding activities are Saving & Spending Pockets, Locked Pockets, Shared Pockets, Giveaway pockets, and others. Its Lending activities are a technology-based bank that serves the small and medium enterprises segment, Retail segment, and mass market segment. Its operating segments are Outside Jakarta and DKI Jakarta. | $0 | -36% | $954M | $1B | 6.1x | — | ||
 | Wema Bank PLC is a commercial bank. The company offers retail banking, SME banking, corporate banking, treasury, trade services and financial advisory to its customers. Its services include granting of loans and advances, corporate finance and money market activities. The bank operates in four geographical regions: South-west, South-South, Abuja, and Lagos zones. Wema derives the majority of its revenues from Lagos. | $0 | -- | $858M | $956M | 5.6x | — | ||
| Rhino Bitcoin Inc is a Nevada corporation and Bitcoin financial services company focused on making everyday banking and financial management accessible. It integrates traditional banking functions within a secure, user-friendly platform centered on Bitcoin and maintains an active Bitcoin treasury strategy. The Company offers account funding and withdrawal in USD and Bitcoin, Bitcoin trading, custody services, remittances, discounted gift card purchasing, retirement accounts, Bitcoin collateralized loans, bill payments, and direct deposit. Its primary revenue comes from trading activities earning a spread on client exchanges between Bitcoin and U.S. dollars, and it operates in the United States, Malaysia, and Hong Kong. | $10 | +567% | $742M | $742M | — | — | ||
| Green Dot Corp is a financial technology company that provides financial services for consumers in the United States without good banking options. It has three segments Consumer Services, Business to Business Services(B2B), and Money Movement Services. The company generates maximum revenue from B2B segment. Its B2B Services segment consists of revenues and expenses derived from (i) its partnerships with prominent consumer and technology companies that make banking products and services available to their consumers, partners and workforce through integration with its banking platform (the "Banking-as-a-Service", or "BaaS channel"), and (ii) a comprehensive payroll platform that it offers to corporate enterprises (the "Employer channel") to facilitate payments for today’s workforce. | $13 | +37% | $716M | ($365M) | (0.2x) | (2.1x) | ||
 | Lesaka Technologies Inc provides payment solutions, transaction processing solutions, and financial technologies. The company operates three reportable segments: Merchant, Consumer and Enterprise. Merchant, which focuses on both formal and informal sector merchants. Consumer, which focuses on individuals who have historically been excluded from traditional financial services and to whom it offers transactional accounts (banking), insurance, lending (short-term loans), payments solutions and various value-added services; and Enterprise, which comprises large-scale corporate and government organizations, including but not limited to banks, mobile network operators (MNOs) and municipalities, and, through Recharger, landlords utilizing Recharger's prepaid electricity metering solution. | $5 | +16% | $423M | $581M | 0.9x | 11.5x | ||
| NewtekOne Inc is a financial holding company engaged in providing financial solutions to its Client Base. It is an internally managed non-diversified closed-end management investment company. It has four reportable segments Banking, Alternative Lending, Technology, NSBF, and Payments. | $13 | +17% | $366M | $967M | 3.4x | — | ||
 | Morrow Bank ASA is a Norwegian bank offering convenient payment and financing products to consumers. It is a focused Nordic digital niche bank offering personal loans, credit cards, deposit accounts, and online point-of-sales finance products to consumers. | $1 | -- | $318M | $412M | — | — | ||
| Instabank ASA offers banking services. The company operates as a digital bank offering loans, savings and insurance. | $0 | +79% | $213M | $244M | 3.7x | — | ||
| First Internet Bancorp is a bank holding company. Through its subsidiaries, it provides commercial real estate (CRE) lending, including nationwide single tenant lease financing and commercial and industrial (C&I) lending, including business banking or treasury management services. The company offers its products and services through the internet and does not have any branches. With operations organized into a single segment called the Commercial Banking segment, it also provides retail banking services. | $23 | -4% | $202M | $547M | 3.5x | — | ||
| PT Bank Amar Indonesia Tbk is engaged in providing banking activities. The company's operating segments include Online, Brick and Mortar, and Head Office. It generates maximum revenue from the Online segment. The Online segment comprises activities related to digital products and services. Its brick-and-mortar segment comprises activities related to conventional banking products and services. The Head Office segment comprises treasury and other activities. Some of its products include Aster Savings, Amar Dana Savings, Amar Cemerlang Savings, Amar Term Savings, Employee Savings, Term Deposit, On-Call Deposit, and Amar Current Account. | $0 | +14% | $202M | $199M | 2.0x | — | ||
| PT MNC Kapital Indonesia Tbk along with its subsidiaries provides integrated financial services. It has created an integrated digital financial ecosystem comprising three main business groups: Banking, Capital Market, and Insurance. The company derives majority of revenue from Banking sector which provides full-service banking for individuals, MSMES, and wholesale banking customers. The banking also offers seamless biometric onboarding, QRIS payments, advanced features like split bills, e-Money top-ups, virtual credit cards, online time deposits, client fund accounts, and in-app biller payments. | $0 | -9% | $124M | ($35M) | (0.2x) | (0.4x) | ||
 | Stakk Ltd is engaged in the development and delivery of Stakk IQ, a modular, API-first Embedded Finance platform that provides the essential infrastructure every modern financial application requires. It operates in one segment being the development of a smart mobile app for banking. | $0 | +378% | $51M | $41M | 45.6x | 4417.9x | ||
 | Fiinu PLC is a digital banking platform intended to unbundle overdraft solutions without needing to switch banks. The company offers led interest income, deposit margin banking infrastructure provider and helps to manage budget or those short-term unexpected costs, in a simple and responsible way, thereby assisting individuals with short-term unexpected expenses while maintaining financial prudence to reshape banking into a hassle-free, transparent, and efficient journey. | $0 | +9% | $41M | $40M | — | (43.0x) | ||
| Change Financial Ltd is a fintech company. It develops payment processors and provides mobile banking services through its mobile application. The company operates in a single segment, that is the development and provision of card payment software and services. The company serves business and financial institutions. | $0 | +22% | $40M | $37M | 2.5x | 18.7x | ||
 | Mogo Inc. is a Canadian financial technology company founded in 2003 and headquartered in Vancouver, British Columbia, that operates as a digital wealth and payments platform serving consumers and ent | -- | -- | $27M | $62M | — | — | ||
| Tandem Group PLC is a designer, developer, distributor, and retailer of sports, leisure, and mobility products. Its products include bicycles and accessories, football training equipment, garden and camping, homewares and household appliances, mobility, outdoor play, snooker, pool and table sports, wheeled toys, and golf equipment which are sold under various brands including Boss, Exile, Scorpion, Carpzone, Kickmaster, Windbar, Airwave, Disney, Shopkins, and Trolls. It has four segments: Toys, Sports & Leisure, Bicycles, including electric, Golf, and Home & Garden. The majority of its revenue comes from the Toys, Sports & Leisure segment. Geographically, the company generates maximum revenue from the United Kingdom, followed by Europe and the Rest of the World. | $2 | -- | $12M | $15M | 0.4x | 8.5x | ||
| Novatti Group Ltd is a software technology company. The company's operating segment includes Payments AU/NZ, Payments International, Technology, and Investments. The Payments AU/NZ segment that derives majority revenue, which incorporates Payments Acquiring, Card Issuing, Cross Border Payments and Novatti Billpa. It operates in Australia and New Zealand, Malta, Malaysia, Brazil, and United States. | $0 | -10% | $8M | ($46M) | (1.3x) | 11.7x | ||
| Zoompass Holdings Inc is a Fintech company that develops and acquires software platforms and services. The firm offers Prepaid cards, Mobility solutions, cryptocurrency platform operations, research, development, strategical planning solutions and others. The business operating segment includes the rendering of professional services. Main Business assets consist of technology IP related to cryptocurrency exchange/wallet, certain strategic partnerships and customer contracts. Substantial revenue accrues from time basis billing for IT professional services to customers. | -- | -- | $522K | $2M | — | — | ||
| Median | $7 | +14% | $1B | $967M | 3.4x | 12.7x |
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