Investor confidence in fintechs is surging as Wall Street backs companies transforming lending, credit, and payments. With traditional banks under pressure, fintechs are leveraging AI, embedded finance, and new business models to scale faster and capture underserved markets. IPO activity is expected to rise as these firms prove profitability while expanding globally. The trend underscores a structural shift in financial services, where digital-first firms challenge incumbents with speed, personalization, and lower costs. Analysts say fintechs are no longer just disruptors but vital players in reshaping the financial ecosystem. This shift also suggests a more competitive IPO pipeline in 2026.
Insight of the Day
Let's learn how Ramp grew from corporate cards to $1B revenue
Growing over 100% YoY from $50M to hundreds of millions in revenue, Ramp has become one of fintech’s fastest-growing players. Sacra estimates Ramp hit $1B in annualized revenue in August 2025, up 110% YoY, driven by its multiproduct strategy and strong attach rates—from cards to bill pay, procurement, travel, and treasury. This expansion has fueled Ramp’s move upmarket into the enterprise.
✅ Ramp’s trajectory
Founded in 2019, Ramp launched with a free corporate card offering 1.5% cashback, powered by API-based issuing via Marqeta and Stripe. By automating expense management, it enabled organizations to distribute cards widely while keeping spend under control. Within ten months (Dec 2020), Ramp hit $200M in annualized TPV and $8M in revenue. Today, Sacra estimates Ramp processes $16B TPV and $327M revenue (+98% YoY), on track for $381M by year-end. For comparison, Brex is at ~$500M revenue (+50% YoY) on $20B TPV.
By August 2025, Ramp surpassed $1B in annualized revenue (vs. $476M in Aug 2024), raising $500M at a $22.5B valuation (~22.5x multiple). Competitors include Brex ($357M revenue in 2024, +12% YoY), Deel ($1B revenue in Mar 2025, +70% YoY), Rippling ($570M ARR in Feb 2025, +52% YoY), and Mercury ($500M in 2024, +97% YoY).
✅ Why Ramp is scaling so fast
Its 2x+ YoY growth comes from layering products on top of cards & expense management (2019): bill pay (2021), procurement and travel (2024), and treasury (2025). This shifted its revenue mix from mostly interchange (~1.6% of TPV) to a blend of interchange, SaaS (Ramp Plus at $15/user/month), financing revenue (bill pay), FX and wire fees, affiliate fees (travel), and interest on deposits (treasury). The multiproduct approach also enables Ramp to compete directly in the enterprise space.
Curated News
💳 Payments
Visa Expands Payments Infrastructure in Saudi Arabia
Visa has launched a locally hosted acceptance platform in Saudi Arabia, strengthening its commitment to the region’s payments modernization. The move enhances transaction speed, security, and compliance for merchants and consumers.
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MoonPay Acquires Meso to Build Global Payments Network
MoonPay acquired Meso to accelerate its evolution from a crypto service provider into a broader global payments network. The deal expands its user base and infrastructure for seamless cross-border transfers.
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PayPal Reinvents Peer-to-Peer Payments
PayPal unveiled a new P2P experience, enabling instant, flexible, and more global money transfers. The update aims to make PayPal the go-to app for universal payments.
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DailyPay Adds Frontline Communications Tools
DailyPay integrated new communication features to strengthen its positioning as the primary financial app for hourly workers. This expansion builds engagement and enhances user loyalty.
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🏦 Banking
Starling Invests $50M to Expand Engine into Americas
Starling Bank will invest $50 million to bring its SaaS banking platform, Engine, to the Americas. The expansion will be led by former J.P. Morgan executive Jody Bhagat.
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Swift Deploys AI Blueprint for Cross-Border Fraud Prevention
Swift introduced an AI-powered framework that enables global banks to collaborate more effectively against fraud in real time. The initiative promises faster detection and stronger defenses in international transactions.
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💡 Fintech
SumUp Eyes IPO Next Year
UK-based SumUp is preparing for a public listing in 2026 as it seeks to scale its payments and merchant services. The IPO would mark a milestone for European fintechs amid renewed investor appetite.
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Trade Republic Enters Poland Amid Price War
German fintech Trade Republic expanded into Poland, intensifying its competition with XTB in retail investing. The move highlights Europe’s escalating brokerage price wars.
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Chest Launches Pension-Savings App for Gen Z
UK fintech Chest launched an app that converts everyday spending into pension savings through cashback. The product targets Gen Z and millennials struggling to save for retirement.
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Dotfile Unveils AI Agent for KYB Compliance
Dotfile launched “Autonomy,” a self-decisioning AI agent that automates Know Your Business (KYB) compliance checks. This innovation could reduce onboarding times and strengthen fraud defenses for fintechs.
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Azentio Rolls Out Next-Gen Loan Origination
Azentio introduced a new loan origination platform designed to boost speed and personalization for SMEs and corporates. The solution aims to streamline credit delivery in competitive lending markets.
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Tot Secures €7M to Boost SME Growth
Spanish fintech Tot raised €7 million to scale its financial services for SMEs. The funds will be used for product expansion and market entry.
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🪙 Crypto
BoE’s Stablecoin Cap Plan Faces Industry Pushback
The Bank of England’s proposal to cap stablecoin holdings has drawn criticism from crypto firms, which argue it could stifle adoption. Regulators, however, see the cap as a safeguard against systemic risks.
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France Opposes EU Crypto Licence Passporting
France signaled it may block plans for crypto license “passporting” across the EU, citing concerns over regulatory arbitrage. The move could delay Europe’s unified crypto framework.
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Chainlink Launches EU-Regulated On-Chain Exchange 21X
Chainlink introduced 21X, the first EU-regulated on-chain exchange for tokenized securities. The launch marks a milestone in bridging traditional finance with blockchain infrastructure.
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📈 WealthTech
Trade Republic Moves Into Wealth Management
Trade Republic expanded from brokerage into wealth management, launching access to private markets with investments starting from just €1. Strategic partnerships with Apollo and EQT back the move.
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Robinhood Plans Retail Venture Fund Access
Robinhood is preparing to let retail investors participate in venture funds, traditionally reserved for institutions. The move could democratize access to private market opportunities.
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Investa Launches Zero-Commission Options Trading in UK
Investa introduced the UK’s first zero-commission options trading app. The platform aims to make derivatives more accessible to retail investors.
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LSEG Debuts Digital Platform for Private Funds
The London Stock Exchange Group launched a digital infrastructure platform for private funds, completing its first transaction. This innovation seeks to bring efficiency and transparency to private markets.
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Finastra Enhances Fusion Invest for Annuities
Finastra upgraded its Fusion Invest solution to better serve the annuities market. The update supports asset managers in optimizing investment strategies for long-term products.
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⚖️ Regulation
APIs Emerging as Prime Cybercrime Target
Over 40,000 API-related security incidents were recorded in H1 2025, highlighting the growing risks tied to financial data exchanges. Regulators and firms are urged to bolster defenses.
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📊 Other
Younger Consumers Shunning Life Insurance
A report shows consumers under 40 are increasingly delaying or skipping life insurance as they postpone milestones like marriage and parenthood. The trend signals long-term shifts in protection product demand.
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