.jpg){kind=avatar}
Congratulations to portfolio company Plaid for being named to Forbes' 10th annual Fintech 50 list, which highlights businesses that continue to grow rapidly and adapt, even as industry valuations and investment in private fintechs remain depressed. The company's revenue grew 25% in 2024 and exceeded $300m, and gross profit margin was roughly 80%, according to a person familiar with its business.
Three categories that focus on business services—Payments, Business to Business Banking and Wall Street and Enterprise—had the most success on our list, making up 31 of our 50 picks and 13 of the 18 first-time honorees. Continued challenges in the real estate and insurance industries caused those categories to have much smaller representation, with two and four companies winning, respectively. Blockchain and crypto had three winners, though President Trump’s endorsement of crypto and a Republican-controlled Congress will likely help bolster the industry this year.
unknownx500
