Top 10 neobanks in the world

Neobanks are delivering innovative, digital-only services and giving millions more customers access to banking. FinTech Magazine takes a look at the top 10

For decades, the world of finance has largely been dominated by the same big-name banks and financial institutions. 

However, over the past few years, the market has been revolutionised by a new generation of independent disruptors known as neobanks, who are delivering innovative, digital-only services and giving millions more customers access to banking. 

Here, FinTech Magazine takes a look at the top 10 neobanks in the world. 

1. Nubank

Top of our list is Nubank, whose rise over recent years has been nothing short of remarkable. 

Since being founded in 2013, this Brazilian neobank has generated billions of dollars in funding and is on the path towards revolutionising financial services across Latin America.  

Operating across Brazil, Mexico, and Colombia, Nubank currently serves more than 70 million customers, and is on a mission to battle complexity and empower people to get better control of their finances.

The fintech is leveraging technology and machine learning to innovative business practices and create new financial solutions for both SMEs and individuals.

Unsurprisingly, Nubank has earned glowing praise for its efforts in fostering financial inclusion in what are traditionally underserved markets.

2. SoFi 

Founded in 2011 as a way to help students pay for their college tuition, SoFi leverages the power of technology to provide financial products that help customers save, invest and better protect their finances.

Having initially utilised an alumni-funded lending model which connected students and recent graduates with investors and alumni, SoFi later shifted its approach to a non-traditional underwriting model focused on lending to responsible customers. 

These days, the business also offers cash management checking accounts and investment platforms including advisor services and brokerage options. 

Almost six million users are benefitting from SoFi’s capabilities. 

3. Chime

Chime’s principal aim is to change how much customers have to pay in overdraft fees. 

This fast-growing fintech partners with regional banks, designing customer-centric financial products and prioritising its members’ financial health over profit. 

The outcome is a more competitive market with lower-cost options for Americans who feel they aren’t being served well by more traditional banks. 

Following a US$750 million funding round in the summer of 2021 – the height of investor interest in fintech startups – Chime was given a valuation of US$25bn. 

4. Revolut

Revolut is the highest-ranking UK-based neobank on our list.

Founded in 2015, the business has grown at an astonishing pace, to the extent that it now has no fewer than 35 million personal users and more than 500,000 business users, ably assisted by around 6,000 employees. 

Revolut’s overarching mission is to simplify all things money. It offers accounts for currency exchange, debit cards, virtual cards, Apple Pay, stock trading and crypto, among other things, processing up to 250 million transactions per month. 

5. N26

This German giant was founded in 2013 with the goal of making money management easier, more secure and customer friendly.

Two years later N26 launched its first product, and, another eight years on, it has become one of Europe’s leading digital banks, responsible for processing more than US$100bn worth of transactions per year. 

To date, the firm has welcomed more than eight million customers across 24 markets,  including its native Berlin, Barcelona, Madrid, Vienna, Milan, São Paulo, and Paris. 

6. Monzo

Another British entry on the list, Monzo was unveiled in 2015 as a mobile app and prepaid debit card.

This well-known fintech was able to offer its first full current account from 2017, and these days has more than eight million customers who reap the benefits of being able to spend abroad with no fees. 

In its own words, Monzo is “building a new kind of bank” that “lives on your smartphone” and is built for today’s rapidly-evolving world. 

7. Varo Bank

Varo Bank’s mission is to make financial inclusion and opportunity a reality for all through empowerment.

The San-Francisco-based venture is working towards this with a team that uniquely and strategically combines banking veterans, providing decades of industry experience, and technology experts, capable of building a mobile app that offers everyone access to premium banking.

Having raised almost a billion dollars in funding to date, Varo Bank can count Russell Westbrook Enterprises among its numerous investors.

8. Starling Bank

The brainchild of entrepreneur and fintech legend Anne Boden, UK-based Starling is the nation’s first-ever female-founded bank

After winning its banking licence, Starling set about giving people a new way to spend, save and manage their money, offering personal current accounts, joint accounts and business accounts.

Starling has always been digital-only and remains branchless to this day. 

Despite Boden stepping back from her role as CEO in the summer of 2023, her business remains a strong player in the UK market.

9. Atom Bank

Built exclusively for smartphone or tablet, Atom Bank has always billed itself as being the UK’s first digital-only bank, and was the first to be granted a full UK regulatory licence. 

The fintech pioneer has raised hundreds of millions of dollars in funding since being founded by Anthony Thomson, Co-founder of Metro Bank, and Mark Mullen, former CEO at First Direct

Thanks to investment from big names like BBVA, Atom has expanded its services to offer mortgages and savings accounts, along with secured loans for small businesses.

10. Upgrade

In the space of just six years, Upgrade has helped customers access more than US$25bn in consumer credit, with millions of families across the US using credit lines, personal loans and rewards checking or premier savings accounts.

The firm's Upgrade Card has been one of the nation's fastest-growing credit cards, while Upgrade has been a named a 'Best Place to Work in the Bay Area' for the last three years. 

What's more, Upgrade has been recognised for its commitment to supporting women, diversity and veterans, among others. 


For more insights from FinTech Magazine, you can see our latest edition of FinTech Magazine here, or you can follow us on LinkedIn and Twitter.

You may also be interested in our sister site, InsurTech Digital, which you can also follow on LinkedIn and Twitter.

Please also take a look at the YouTube playlist for our latest hybrid event, FinTech LIVE London, to learn all about the latest trends in fintech. 


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