Theme
Vertical & next-gen payments
Payment platforms purpose-built for a specific vertical (restaurants, hospitality, integrated software) plus the Cash App / Square-style consumer-merchant networks.
Vertical payments players own the software and the payment rails for a specific industry — Toast in restaurants, Shift4 across hospitality and sports venues — earning higher take-rates than horizontal acquirers and locking in merchants through workflow integration. Block (XYZ) sits adjacent with Cash App's consumer network plus Square's seller ecosystem, partially monetized by bitcoin flow.
Companies · 9
Adyen N.V.ADYEN
Market cap$30B
Conviction5 / 5
Vertical & next-gen paymentsCross-border payments
Read profileKaspi.kzKSPI
Market cap$15B
Conviction5 / 5
Emerging-markets fintechNeobanksVertical & next-gen payments
Read profileStripe, Inc.Private
Market cap—
Conviction4 / 5
Vertical & next-gen paymentsCross-border payments
Read profileMercadoLibre, Inc.MELI
Market cap$83B
Conviction4 / 5
Emerging-markets fintechVertical & next-gen payments
Read profileBILL Holdings, Inc.BILL
Market cap$3.4B
Conviction3 / 5
Vertical & next-gen payments
Read profileToast, Inc.TOST
Market cap$13B
Conviction3 / 5
Vertical & next-gen payments
Read profileBlock, Inc.XYZ
Market cap$37B
Conviction3 / 5
Vertical & next-gen paymentsCrypto exchanges
Read profileShift4 Payments, Inc.FOUR
Market cap$3.0B
Conviction3 / 5
Vertical & next-gen payments
Read profileMarqeta, Inc.MQ
Market cap$1.6B
Conviction3 / 5
Vertical & next-gen payments
Read profile