14 Financial Service Business Success Stories [2023]

Updated: November 19th, 2023
Start A Financial Service Business

Here are some real life success stories of starting a financial service business:

1. Fair Capital ($960K/year)

Avi Grunwald, founder and CEO of Fair Capital, started the company in 2017 to address the significant problem of unpaid invoices that many businesses face. Through his research, Avi realized that the debt collection industry had a bad reputation and many businesses were hesitant to hire a collection agency. Determined to make debt collection efficient and positive, Avi assembled a unique team of industry professionals and newcomers to create a culture of mediation between creditors and debtors. With their proven debt collection strategy, Fair Capital has achieved a success rate 52% higher than the industry average, as reported by ACA International.

How much they make: $960K/year
Current team size: 0

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How An Industry Outsider Started An $80K/Month Debt Collection Business

A debt collection agency's founder and CEO speaks on addressing the debts of businesses efficiently and positively, attributing its 52% collection success rate increase to a three-phase collection process.

About
Avi started Fair Capital over 6 years ago
Revenue
Avi grew the business to $80K/month

2. Fuelfinance ($450K/year)

How much they make: $450K/year
How much did it cost to start: $399
Current team size: 20

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What is it like running a startup from a war zone?

Fuelfinance generates $450K per year by providing powerful dashboards and practical financial services for startup founders to make their financial operations more efficient.

Revenue
Alyona grew the business to $37.5K/month
Costs
It cost Alyona $399 to start the business

So... can you actually make money with a financial service business?

Of course. There are millions to be made in this industry.

But how?

  1. Research real, profitable businesses and see exactly how much money they make.
  2. Study exactly what works, and what doesn’t.
  3. Take action, because now you have the roadmap.

Join Starter Story and build your next big thing:

Start Now

3. Cledara ($2.4M/year)

How much they make: $2.4M/year
Current team size: 43

article

Cledara: A First Time Founder’s Guide to Finding Product Market Fit

Cristina Vila and Brad van Leeuwen founded Cledara, a subscription management company that has acquired over 700 clients, a $2.4M ARR, raised $7 million, and partnered with financial giants such as PayPal, Caixa Bank, and Railsbank.

About
Cristina started Cledara almost 6 years ago
Revenue
Cristina grew the business to $200K/month

4. Financer ($6M/year)

How much they make: $6M/year
Current team size:

Growing a Financial Comparison Company to $100k/Month

Learn how Johannes built a successful financial comparison site, managing a remote team in 26 countries and bringing in over $100k per month.

Revenue
They grew the business to $500K/month

So... can you actually make money with a financial service business?

Of course. There are millions to be made in this industry.

But how?

  1. Research real, profitable businesses and see exactly how much money they make.
  2. Study exactly what works, and what doesn’t.
  3. Take action, because now you have the roadmap.

Join Starter Story and build your next big thing:

Start Now

5. Journey To Launch ($252K/year)

How much they make: $252K/year
Current team size:

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Here’s Why This Mother Of Three Gave Up Her Goal To Retire By 40 To Become An Entrepreneur Instead

Jamila Souffrant's Journey to Launch podcast amassed over 2 million downloads in a year, made it to the Forbes feature, and has helped many listeners come out of debt, stop living paycheck to paycheck and build-savings.

About
Jamila started Journey To Launch almost 8 years ago
Revenue
Jamila grew the business to $21K/month

So... can you actually make money with a financial service business?

Of course. There are millions to be made in this industry.

But how?

  1. Research real, profitable businesses and see exactly how much money they make.
  2. Study exactly what works, and what doesn’t.
  3. Take action, because now you have the roadmap.

Join Starter Story and build your next big thing:

Start Now

6. Secvolt ($1.2M/year)

Divakar Choudhary came up with the idea for Secvolt, a record-breaking hedge fund, after a lifetime of fascination with finance and entrepreneurship. He combined his passion for investing with his knowledge of quantitative strategies, assembling a talented team and developing proprietary quant models that led to impressive returns for investors. With a solid foundation and a commitment to excellence, Secvolt has become one of the top hedge funds in the world.

How much they make: $1.2M/year
Current team size: 15

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How I Launched My Hedge Fund That Makes $1.2M/Year In Revenue

Secvolt, a highly successful hedge fund that generated a record-breaking 262.10% returns for investors in 2022, shares their journey on developing their proprietary quant models and wealth management solutions for high-net-worth individuals around the world.

About
Divakar started Secvolt almost 2 years ago
Revenue
Divakar grew the business to $100K/month

7. Gauvreau Accounting Tax Law Advisory ($4.44M/year)

Robert Gauvreau, founder and CEO of Gauvreau Accounting Tax Law Advisory, started his business in 2008 with just three employees and $220,000 in revenue. Over the years, through innovation and a focus on proactive financial services, the company has grown exponentially, now generating over $10 million in revenue and employing 90 to 100 people. Gauvreau's goal is to continue scaling the business and reach $200 million in revenue within the next ten years.

How much they make: $4.44M/year
Current team size: 80

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Our Accounting Tax Law Advisory Firm Will Surpass $10M Revenue in 2023

Gauvreau Accounting Tax Law Advisory has gone from $220k in revenue in its first year to over $10 million with 90-100 employees, offering compliance solutions, strategic financial advisory services, leadership coaching, and specialized tax, wealth management, and business financing services; their primary goal is to positively empower business owners to maximize their impact in changing the world, and they plan to go from $10 to $200 million revenue in the next ten years.

About
Robert started Gauvreau Accounting Tax Law Advisory almost 16 years ago
Revenue
Robert grew the business to $370K/month

8. Digits ($20.4M/year)

How much they make: $20.4M/year
Current team size: 59

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Digits Wants to Replace Quickbooks, $30m Raised, 4 years of Building Distribution, Launch is Next

Digits is the fintech company that aims to revolutionize small business finance management with an AI-generated dashboard that offers interactive financial reports, quick answers, error detection, and practical suggestions.

About
Wayne started Digits almost 6 years ago
Revenue
Wayne grew the business to $1.7M/month

9. LendingPoint ($37.7M/year)

How much they make: $37.7M/year
Current team size: 258

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LendingPoint hits $600m ARR, Will Profit $120m on AI platform for consumer loans

Fintech platform LendingPoint incorporates AI technology to offer financing origination solutions, with $900m in new loans and a $100m credit facility managed by Ares Management, while in May 2022 it announced a new partnership with Midland States Bank.

About
Tom started LendingPoint almost 10 years ago
Revenue
Tom grew the business to $3.14M/month

10. The Credit Connection ($500K/year)

How much they make: $500K/year
Current team size: 3

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$500k Revenue In 1 Year With 3 Person Team Helping Consumers Prepare To Get Loans

Daniel Massimino successfully turned his childhood passion into a multimillion-dollar company with MassTech and founded The Credit Connection to help entrepreneurs start, grow, and scale their businesses while assisting consumers in turning loan denials into approvals, believing the ongoing pandemic has created the perfect opportunity for entrepreneurs to start a business.

About
Daniel started The Credit Connection over 5 years ago
Revenue
Daniel grew the business to $41.7K/month