Three Cyprus-based companies ranked among the world’s 300 top fintechs, in CNBC’s annual “The World’s Top Fintech Companies” report for 2025, highlight the island’s growing role as European fintech hub.
The industry-leading ranking, compiled by CNBC in collaboration with market research firm Statista, highlights startups, scaleups, and established tech players based on a rigorous KPI-driven methodology.
Finery Markets
Limassol-based Finery Markets, provider of non-custodial crypto ECN and SaaS trading solutions, made it on the list in the Digital Assets category. The digital assets segment comprises platforms and tools that make it possible to use, develop and govern blockchain-based applications and digital assets, including cryptocurrencies and non-fungible tokens, or NFTs.
Konstantin Shulga, CEO and co-founder of Finery Markets, said of the accomplishment: “We’re honored to be included for the first time alongside major digital asset companies, some of whom are our strategic partners. This is a significant milestone for our investors, team, and clients. This year we’ve achieved record growth, and this nomination further strengthens our brand as we accelerate Finery Markets’ global expansion and technological innovation.”
Read more: CNBC ranks Finery Markets among world’s top fintech companies
Sumsub
Limassol-based Sumsub was included in the Enterprise Fintech category. The company runs a platform that gathers all the verification, compliance, and case management tools a business needs in one place. This means there’s no need to opt for multiple solutions.
Enterprise fintech encompasses companies delivering digital products for financial institutions and other businesses. This includes banking-as-a-service providers, open banking platforms and firms that help businesses with their regulatory compliance needs.
eToro
Israeli finteh company eToro, whose European office is based in Cyprus, was included in the Wealth Technology list.
Back in May, eToro became the first major fintech to go public since 2021 – a move it dubbed the "official reopening" of the tech IPO (initial public offering) market. A multi-asset investment and social trading company offering financial services, eToro was founded in 2007 in Tel Aviv. And it has a long standing presence in Cyprus – the island is indeed home to eToro Europe, responsible for servicing clients throughout the EU, with over 250 staff.
Wealth technology is made up of companies offering digital products across the wealth management ecosystem. This includes platforms and tools for online trading, investment management and portfolio optimisation.
It also incorporates personal finance products, including money management and financial comparison tools. Financial planning was a separate category last year but has been folded into the broader wealth technology section this year.
Fintech is flourishing, despite tough environment
According to CNBC’s report, Fintech is flourishing as emerging technologies from artificial intelligence to crypto take the financial world by storm — even as the industry continues to navigate a tough environment.
Funding levels in the sector remain well below the pandemic highs of 2020 and 2021. Global investment fell 20% to $95.6 billion last year — a seven-year low, according to KPMG’s “Pulse of Fintech” report. And exit activity remains muted, with several major IPOs and mergers and acquisitions on hold.
Still, dramatic technological shifts are taking place: powerful AI models are causing companies to rethink how they approach things like customer support and fraud prevention, while payment systems are increasingly adopting stablecoins for instant, round-the-clock settlement.
Methodology
The 300 companies were decided based on desk research conducted by Statista, alongside editorial input from CNBC.
CNBC in February put out a call for applications from fintech companies to express their interest in being featured in the list. Firms were invited to share certain key performance indicators such as revenue, growth and employee headcount with Statista, on the condition that this information wouldn’t be made public.
Alongside the application process, Statista also analyzed an additional 2,000 companies to ensure a broad representation of names within the sector. Companies were assessed against a general set of KPIs, in addition to certain sector-specific metrics for their category.
Access CNBC’s full report here
