If you’re building a fintech startup, chances are you’ve heard some polite version of “Not sure there’s a market for this” or “Sounds risky.” Most fintech founders hear it at some point. But history is on your side; some of today’s biggest fintech players were told no before they became unmissable.
Here are five fintechs that were doubted, dismissed, or misunderstood; and then went on to reshape the market. Each story offers sharp lessons for founders looking to turn hesitation into momentum.
1. Revolut
When Revolut launched in 2015, it started with a fairly focused mission: make travel money simpler. But within a couple of years, it was handling everything from crypto to stock trading, savings, and insurance. Critics called it unfocused. Regulators raised concerns about compliance. And even within fintech circles, some asked: “Isn’t this five different companies rolled into one?”
“Starting anything new is extremely hard. It’s breaking the walls all the time, so you really need to have character to break the walls and you need to have brains to more efficiently break the walls.”
— Nikolay Storonsky, Co-founder and CEO of Revolut
How they took off: Instead of narrowing down, Revolut leaned in. They executed fast, added features weekly, and built a fiercely loyal user base; particularly among young, mobile-first travellers. As of 2025, with 55+ million users and a new European HQ in Paris, it’s one of the most powerful fintech brands in the world.
What founders can learn: Being “too much” isn’t a problem if you’re the one who can pull it off. Bold vision plus shipping speed is hard to beat.
2. Wise (formerly TransferWise)
When Wise launched in 2011, banks didn’t worry. The founders were building a money transfer tool with almost no margin, openly attacking hidden fees, and promising full price transparency. Investors passed. Users hesitated.
How they took off: Wise’s “we hate bank fees too” brand hit a nerve. They kept it lean, internationalised early, and let product quality do the talking. By 2025, they move ~5% of global cross-border personal transfers; and posted over £240 million in annual profit.
What founders can learn: Disrupting a slow-moving giant works when your values align with real user pain. Trust plus simplicity scales.
3. Klarna
When Klarna launched in Sweden in 2005, the idea of letting people delay payments online – with no interest or fees – felt counterintuitive. Credit cards already did that (with strings attached), and European consumers were generally cautious about debt. Investors were unsure how scalable the model was. Critics questioned whether retailers would buy into it. And unlike most fintechs, Klarna chose not to operate like a traditional lender or bank at the start, which only added to the uncertainty.
“I remember one investor calling me early on, fretting about the end of the world and insisting that I start downsizing. I’m always glad I didn’t take that advice, because COVID ended up being a major acceleration.”
— Sebastian Siemiatkowski, Co-founder and CEO of Klarna
How they took off: Klarna built merchant trust first, then expanded into consumers. It refined the BNPL experience and moved into lifestyle fintech territory. In 2025, it reported $701 million in quarterly revenue and is once again profitable.
What founders can learn: If your model challenges norms, start by making it useful; then make it loved.
4. Monzo
Monzo began in 2015 as a digital-only bank in the UK, back when the term “neobank” wasn’t yet mainstream. It quickly attracted attention with its hot coral debit cards, slick app, and unusually transparent communication style – including live updates on outages and product roadmaps. But behind the excitement, there were structural challenges. For years, Monzo operated at a loss, struggled with monetisation, and faced growing pressure to prove its model could survive beyond the hype, especially during the turbulence of the COVID-19 years.
“The idea that I could launch a startup instead of getting a ‘real’ job seemed totally implausible.”
— Tom Blomfield, Co-founder and first CEO of Monzo
How they took off: Monzo focused on sustainability, introduced lending and paid accounts, and rebuilt investor confidence. In 2024, it posted its first annual profit (£15.4M) and secured £340M in new funding. Monzo isn’t just back; it’s stable.
What founders can learn: Great branding and user love are powerful, but don’t ignore the fundamentals. Profitability gives you real momentum.
5. N26
N26 quickly became one of Europe’s most talked-about neobanks; and also one of the most questioned. Early on, it wowed users with clean design and mobile-first convenience. But when it expanded beyond Germany, especially into the U.S., growth felt shaky. Critics said the product lacked depth, customer support was lagging, and the company was chasing scale too soon.
How they took off: N26 exited the U.S. and doubled down on its European core. That focus paid off: it raised a $900M Series E and remains one of the highest-valued fintechs in Europe. Not every expansion works, but knowing when to cut losses is a strength.
What founders can learn: You don’t have to win everywhere. Growth is about precision, not geography.
Key Takeaways for Fintech Startups
Here’s what today’s breakout fintechs can teach early-stage founders facing doubt, pushback, or early-stage hurdles:
- Doubt isn’t death. It’s often a sign you’re doing something original.
- Make the product speak. Shipping quality and transparency win trust.
- Don’t scale pain. Fix your model before expanding into new markets.
- Profit unlocks independence. Even the best brands need a business case.
- Focus wins. Especially when the world’s watching.
Want to build a fintech story that stands out, even when no one believes in it yet? We help founders craft strategy, narrative, and GTM plans that turn “No thanks” into traction. Let’s talk.
