The Future Of Business To Business Banking: Fintech 50 2023

Whether it’s corporate credit cards, home improvement loans or travel expenses, these 10 companies are shaking up the banking establishment—even as the industry faces bouts of crisis.

Three of the largest bank failures in history rocked financial markets this year, but these 10 fintech startups offering banking services to other businesses only doubled down during the turmoil—facilitating billions of dollars in transactions, picking up deposits and in some cases, even benefiting directly from the crisis.

Returning to Forbes‘ Fintech 50 list this year, four-year-old neobank Mercury picked up more than $2 billion in deposits within days of Silicon Valley Bank’s sudden collapse in March. CEO Immad Akhund worked over the weekend, onboarding new customers as startled startup founders rushed to find a new home for their cash. That same week, longtime list staple Brex announced it would begin offering up to $6 million in FDIC-insured deposits by spreading them out through various banks. The startup, which also offers working capital loans and venture debt, processed more than $1 billion in emergency loans for startups affected by the bank failure.