21 Top Neobanks to Watch in 2024

Every year, new startups pull to the forefront of their industry through exciting innovation, tech, and industry-disrupting business models. We’ve rounded up the most exciting neobank startups of 2024 that startup lovers, investors, and aspiring entrepreneurs should follow. 

Disclaimer: With so many exciting startups launching and growing worldwide, we aren’t able to cover them all. Furthermore, the neobanks that are listed below are not officially ranked and are listed in no particular order.

• Location: San Francisco, California
• Founders:   Immad Akhund, Jason Zhang, Max Tagher
• Founded In:  2017
• Funding: $152.2 Million
• Investors Include: Coatue, Sapphire Ventures, CRV

Mercury empowers startups and tech companies with its intuitive digital platform. Aiming to revolutionize the traditional banking experience, Mercury's founders built it from their first-hand understanding of entrepreneurial needs and hurdles. It provides seamless digital banking services while also integrating comprehensive tools for financial analysis and business insights. Mercury's vision has been acknowledged with significant venture capital backing, positioning it as a trendsetter in the fintech space.

• Location: New York, New York
• Founders: Lilac Bar David, Liran Zelkha
• Founded In: 2018
• Funding: $80 Million
• Investors Include: Google for Startups, Target Global, Foundation Capital

Lili is a leading neobank focused on empowering business owners with tailored mobile banking solutions. Lili's intuitive app simplifies financial management with tools for expense tracking, tax preparation, and real-time alerts. Testament to its success, the startup has attracted robust investment, setting the pace for future growth and innovation.

• Location: Toronto, Canada
• Founders: Paul Klicnik, Yoseph West
• Founded In: 2018
• Funding: $19.4 Million
• Investors Include: Bain Capital Ventures, Better Tomorrow Ventures, Tribe Capital

Relay, a smart banking platform, is designed to simplify financial management for small businesses. Its intuitive interface, coupled with powerful features, is born from the founder's mission to ease the financial struggles faced by SMEs. The platform seamlessly blends banking, bookkeeping, and financial tracking, with integrations for popular accounting software.

• Location: Miami, Florida
• Founders: Michael Rangel, Tyler McIntyre
• Founded In: 2016
• Funding: $170.5 Million
• Investors Include: GGV Capital, Stripes, Valar Ventures

Novo is a neobank built with the modern entrepreneur in mind, recognizing the unique challenges of starting and scaling a business. The platform combines user-friendly banking services with innovative features like invoicing, budgeting, and integrations with popular e-commerce platforms. Novo's focused approach has earned it high praise from small business owners and robust financial backing.

• Location: Bangalore, India 
• Founders: Raghunandan G
• Founded In: 2020
• Funding: Debt Financing, $155.1 Million
• Investors Include: Accel, Tiger Global Management, Lightspeed India Partners 

Based in Bangalore, India, Zolve is a fintech startup connecting non-US citizens with the financial services they need to thrive in the States. From opening a US checking account to securing an auto loan, Zolve has provided financial services to thousands of international users living in the United States through their neobanking platform.

• Location: New York, New York
• Founders: Eytan Bensoussan, Justin Adler
• Founded In: 2016
• Funding: $90.3 Million
• Investors Include: Kaiser Permanente Ventures, Operator Stack, Ruby Ventures

By integrating banking with financial management tools, NorthOne helps its customers keep their finances organized and under control. Its empathetic approach toward addressing the unique challenges faced by small businesses has positioned NorthOne as an essential tool in the neobanking space.

• Location: San Francisco, California
• Founders: Henrique Dubugras, Pedro Franceschi
• Founded In: 2017
• Funding: $1.5 Billion
• Investors Include: TCV, Greenoaks, Weclikd

Brex is a game-changer in the fintech world, offering innovative cash management accounts and corporate cards for startups. Built by entrepreneurs for entrepreneurs, Brex understands the value of smooth financial operations, freeing businesses to focus on innovation and growth. The company's meteoric rise and impressive backing underline its substantial impact in transforming the business banking landscape.

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• Location: London, United Kingdom
• Founders: Nikolay Storonsky, Vlad Yatsenko
• Founded In: 2015
• Funding: $1.7 Billion
• Investors Include: Woodford Investment Management, SoftBank Vision Fund, Tiger Global Management

With its intuitive mobile app and multi-currency capabilities, Revolut simplifies international banking for individuals and businesses alike. Users can easily exchange and transfer money in different currencies at competitive rates while also enjoying additional features like budgeting tools, expense tracking, and cryptocurrency trading. With its mission to democratize banking and promote financial inclusion, Revolut has garnered a large and devoted user base.

• Location: San Francisco, California
• Founders: Chris Britt, Ryan King
• Founded In: 2012
• Funding: $2.3 Billion
• Investors Include: Sequoia Capital Global Equities, General Atlantic, Empede Capital

Founded with a vision to revolutionize banking, Chime embarked on a remarkable journey to provide accessible and user-centric banking services to the masses. From its humble beginnings as a small startup, Chime rapidly gained traction by offering fee-free checking accounts, early access to paychecks, and innovative mobile banking features. 

• Location: San Francisco, California
• Founders: Andrew Carra, Daniel Macklin, Ian Brady, James Finnigan, Michael Cagney
• Founded In: 2011
• Funding: $3 Billion
• Investors Include: GGV Capital,  Asas Capital, Bracket Capital

Born out of a mission to provide accessible financial services, SoFi’s journey began with a focus on refinancing student loans for graduates burdened by debt. Building on this success, they expanded their offerings to include personal loans, mortgages, and investment products. With its emphasis on community and financial empowerment, they have quickly amassed a loyal customer base and have become a go-to destination for individuals seeking a holistic financial experience.

• Location: San Francisco, California
• Founders: Assaf Guery, Colin Walsh, Mykola Klymenko, Roger Van Duinen
• Founded In: 2015
• Funding: $992.4 Million
• Investors Include: Lone Pine Capital, The Rise Fund, Gallatin Point Capital

With a laser focus on providing financial services through a mobile-first approach, Varo has gained recognition for its innovative features, such as automated savings tools, real-time transaction alerts, and personalized financial insights. Through relentless dedication and strategic partnerships, Varo has rapidly gained momentum, securing significant investments and expanding its customer base.

• Location: New York, New York
• Founders: Stuart Sopp
• Founded In: 2015
• Funding: $402.4 Million
• Investors Include: Andreessen Horowitz, Tiger Global Management, Expa

Current has embarked on an inspiring journey to transform the way people manage their finances.. With features like instant spending notifications and personalized savings goals, Current appeals to tech-savvy individuals and families. Through strategic partnerships and a focus on financial wellness, Current has quickly emerged as a rising star in the neobank landscape, offering a fresh and inclusive banking experience for its growing user base.

• Location: Irvine, California
• Founders: Jason Martell, Jeff Cruttenden, Mark Dru, Walter Cruttenden
• Founded In: 2012
• Funding: $507 Million
• Investors Include: Headline, Torch Capital, Bain Capital Ventures

Acorns is a pioneering neobank startup that has revolutionized the way individuals save and invest their money. Founded in 2012, Acorns embarked on a mission to make investing accessible to everyone, regardless of their financial background. By rounding up everyday purchases and automatically investing the spare change, Acorns simplifies the investment process and encourages consistent savings habits. 

• Location: Silicon Valley (Mountain View, California)
• Founders: Adrian Nazari
• Founded In: 2010
• Funding: $171.5 Million
• Investors Include: Healthcare of Ontario Pension Plan, Globespan Capital Partners, ATW Partners

Starting from its inception, Credit Sesame set out to empower individuals by offering comprehensive credit management tools and valuable financial insights.  Through its intuitive platform, Credit Sesame enables users to track their credit health, receive personalized recommendations, and gain access to tailored financial products. 

• Location: London, United Kingdom
• Founders: Kristo Kaarmann, Taavet Hinrikus
• Founded In: 2011
• Funding: $1.7 Billion
• Investors Include: Lone Pine Capital, Vitruvian Partners

With its innovative technology and transparent fee structure, Wise enables users to send and receive money across borders at competitive exchange rates. The platform's peer-to-peer model bypasses traditional banking intermediaries, making it more cost-effective and efficient. Wise has gained significant popularity and trust among users worldwide, positioning itself as a leading player in the neobank industry.

• Location: San Francisco, California 
• Founders: Hussein Ahmed
• Founded In: 2018
• Funding: $45 Million
• Investors Include: Frank Strauss, 1984 Ventures, Digital Horizon

Founded by a team of seasoned entrepreneurs, Oxygen redefines traditional banking by targeting the underserved millennial and Gen Z markets. With its sleek mobile app and user-friendly interface, Oxygen offers a range of modern banking features, including seamless account opening, budgeting tools, and cashback rewards.

• Location: London, United Kingdom
• Founders: Anne Boden, John Humpish
• Founded In: 2014
• Funding: $710.3 Million
• Investors Include: Goldman Sachs, JTC, Chrysalis Investments

London-based fintech Starling Bank commenced its journey in 2014 with a promise to revolutionize banking. The neobank focuses on user-centered design, offering a seamless mobile banking experience with features like real-time notifications, savings goals, and round-ups. With its robust API, Starling Bank has integrated with various third-party services, setting a new standard for digital banking.

• Location: Pasadena, California
• Founders: Ken Lian, Qingyi Li, Zhen Wang
• Founded In: 2019
• Funding: $3.6 Million
• Investors Include: iFly.vc, Operate, Wedbush Ventures

Cheese's innovative approach provides a unique social cause-driven banking platform that pledges no banking fees, no credit history required, and cashback programs. Cheese's approach to inclusivity has secured millions in seed funding, allowing it to rapidly scale and disrupt traditional banking norms. As the company continues to grow, its socially-conscious banking model is set to make waves in the wider banking industry.

• Location: Marina Del Rey, California 
• Founders:  Andrei Cherny, Joseph N. Sanberg
• Founded In: 2013
• Funding: $250 Million
• Investors Include: AGO Partners, Deep Field Asset Management, Tamar Capital

Aspiration operates with a unique environmentally friendly mission. The U.S.-based neobank promotes socially conscious spending by offering cash-back rewards for shopping at sustainable businesses and offsets carbon footprint with every purchase. Its commitment to social responsibility has drawn eco-conscious consumers, contributing to its rapid growth.

• Location: New York, New York
• Founders: Eli Broverman, Jon Stein
• Founded In: 2008
• Funding: $365 Million
• Investors Include: Kinnevik, Citi Ventures, Francisco Partners

Betterment is a robo-adviser with a neobanking arm that offers cash management services. Its strength lies in automated, low-cost investment tools for individuals and financial advisors. The seamless combination of financial planning, investment management, and banking services positions Betterment as a one-stop-shop for financial needs.

• Location: Culver City, California
• Founders: Andrzej Baraniak, Yinon Ravid
• Founded In: 2015
• Funding: $175.6 Million
• Investors Include: General Atlantic, CapitalG, Portage Ventures

Albert is a personal finance app that offers a holistic approach to financial management. Combining features of budgeting, automatic savings, and instant cash advances, it's an all-in-one solution for the modern customer. Its recent addition of Albert Genius, a team of financial advisors, has added a human touch to its tech-driven services.

Recommended: Check out our full list of the top startups to watch!

• Best Fintech Startups 2024
• Innovative Personal Finance Startups 2024
• Best Banks for Startups
• Top Fintech Venture Capital Firms