Bir named among world's top fintechs in neobanking

Bir has been named among the world's top fintechs in the neobanking category by CNBC and Statista. It is the first company from Azerbaijan and the wider South Caucasus to appear on the list.

The recognition places Bir alongside international consumer finance firms as it looks to strengthen its position in Azerbaijan's digital banking, payments and online commerce market. CNBC and Statista based the ranking on measures including revenue, profitability, customer numbers, loan and deposit growth, transaction volumes, market share and staffing.

Bir brings together four consumer brands under one umbrella: digital bank Birbank, eCommerce platform Birmarket, Milliön payment terminals and the m10 digital wallet. The combined ecosystem serves more than 5 million users in Azerbaijan, according to the company.

The award highlights the emergence of fintech businesses from markets that have historically attracted less international attention than larger financial centres in Europe, North America and Asia. For Azerbaijan, it also signals the growing scale of locally built digital consumer platforms as banking and payment services move further online.

Regional first

Bir described the listing as a first for both Azerbaijan and the South Caucasus. The distinction is likely to carry weight in a market where policymakers and business leaders have pushed to expand digital services and reduce reliance on cash-based transactions.

The company was launched to combine financial services, payments and commerce in a single consumer offering. Its model focuses on linking routine activities such as shopping, transport payments and person-to-person transfers within one platform, an approach used by several fast-growing fintech groups in other markets.

Recent expansion has included a partnership with Paysend to enable international money transfers from Azerbaijan to more than 140 countries and territories, according to the company. It has also signed a memorandum of understanding linked to the digitalisation of Baku Old City, a UNESCO-listed area of the capital.

Another recent product update added sign language functionality to the Birbank app. The feature is intended to improve access for users with hearing or speech impairments.

Consumer platform

Bir's structure sets it apart from standalone digital banks by combining several transaction types within one ecosystem. In practical terms, users can move between banking services, wallet payments, retail transactions and physical payment terminal services without leaving the group's broader network.

This type of integration has become a common strategy among fintech firms seeking to deepen customer engagement and increase transaction frequency. It can also help businesses gather broader data on user behaviour across payments, savings, transfers and purchases, although no financial details tied to the ranking were disclosed.

The business said its ecosystem was launched in 2025 by bringing together established domestic brands. Alongside Birbank, Milliön and m10, it cited partnerships with Trendyol and BakıKart as part of its broader push to build a larger digital consumer network in the country.

Recognition in the neobanking category suggests Bir is being assessed not simply as a payments or retail technology group, but as a company with a meaningful role in consumer financial services. The category has become increasingly competitive as digital banks seek scale in both mature and emerging markets.

Farid Huseynov, Chief Executive Officer of Bir, said the ranking reflected the company's progress since launching its ecosystem and the wider development of Azerbaijan's fintech sector.

"At Bir, we are offering a new way for millions of people in Azerbaijan to take care of their daily tasks, from shopping to paying for public transport, transferring money to friends and family and much more, helping people form new habits as we bring them into the digital economy. We are delighted to be recognised among the world's leading fintech companies, alongside Nubank, Revolut and Monzo, by CNBC and Statista for the progress that we have made since launching the Bir ecosystem. Being the first and only company from Azerbaijan and the South Caucasus region to be included in this prestigious list is a testament not only to Bir's achievements, but also to the growing competitiveness of Azerbaijan's fintech sector on the global stage. We will continue to build out the Bir ecosystem, helping fuel the digitization of Azerbaijan," he said.