3 Top Growth Stocks to Make You Rich

SoFi (SOFI)

SoFi wants to help people make their dreams come true through financial independence. SoFi takes a comprehensive, mobile-first approach to finance, with a goal of simplifying and personalizing its member experience — particularly poignant considering more than 50% of Americans use more than one bank, often because they can’t find one bank that offers everything they’re looking for.

Here’s where SoFi comes in with its plethora of products, spanning lending solutions, including home loans, student loans, and financial services, brokerage services, and credit monitoring.

SoFi also provides access to third-party insurance products — all from a single mobile app that delivers daily personalized financial advice.

Other services that SoFi offers include:

• Investing
• Cryptocurrency 
• ETFs
• Checking and savings accounts
• Personal loans
• Credit cards
• Business solutions
• Small business financing 

SoFi’s services far surpass those of more traditional banks whose customer bases are largely made up of an aging population, positioning it nicely for future growth.

What’s more, in 2021, SoFi acquired the fintech platform Galileo, which provides digital banking services to other organizations, including the ability to transfer money, process payments, and issue credit cards. 

Although you may not have heard of Galileo, it probably powers your bank — after all, Galileo powers 95% of digital banking that takes place in North America, in addition to seven of the top 100 fintech companies in the world.

Management continues to build on its smart growth strategy, and the company recently applied for its national bank charter — they also recently acquired Golden Pacific Bancorp.

A bank charter would be huge for SoFi because it would allow them to offer their own financial services rather than leaning on third-party banks, making the business more efficient by lowering the costs to lead money which would enable them to offer lower interest rates. The growth potential for SoFi makes it an excellent buy for investors looking to build long-term wealth as its journey is really just beginning.

If you’ve been scratching your head while reading this trying to figure out why “SoFi” sounds so familiar, yes, it’s the home of Super Bowl LVI, which could explode the company onto the fintech scene.

Here are some quick facts about SoFi’s recent growth:

• In the third quarter of 2021, the company grew to nearly 3 million users.
• Members grew 96% year-over-year in the third quarter of 2021.
• SoFi achieved four straight quarters of more than 90% year-over-year user growth.

Shopify (SHOP)

Shopify is known as a stock market darling after appreciating more than 8,000% since its 2015 IPO. That means if you would have invested $10,000 into Shopify when it made its stock market debut, you would have $820,000 today — well on your way to becoming rich!

Shopify is on a mission to improve commerce for everyone with software that helps merchants manage sales across physical and digital stores — that includes custom websites, Amazon and other online marketplaces, and social networks. The platform also offers payment processing, discounted shipping, and money management solutions — plus thousands of integrations via its app store. 

The pandemic was particularly nice to Shopify as more merchants were forced to set up online stores, the stock rallied 185% in 2020. In 2021, it advanced another 29%.

Here are some quick facts about Shopify’s explosive growth:

• More than 1.75 million merchants currently sell on Shopify across 175 countries.
• Shopify Payments handled 49% of gross merchandise volume in Q3 2021.
• Revenue rose 71% to $4.2 billion over the past year.
• Free cash flow skyrocketed 150% to $458.2 million.

Management puts Shopify’s market opportunity at $153 billion — pretty impressive. But, what’s more impressive is that figure only accounts for small and medium-sized businesses.

Of course, small businesses are key clients, but Shopify Plus is a platform designed specifically for larger companies and has already been adopted by Netflix and McCormick. As more major corporations join in, Shopify’s market opportunity will continue to grow.

Shopify is well-positioned to keep up this growth momentum as e-commerce becomes increasingly mainstream. In fact, Shopify is building its own fulfillment network across the U.S. The Shopify Fulfillment Network will use automation and AI to aid merchants make deliveries faster and cheaper than the “other guys.”

MercadoLibre (MELI)

Although you may be focused on American stocks. Any good investor knows a diverse portfolio is key to seeing the highest returns. One of the outstanding stocks in the international market is MercadoLibre.

MercadoLibre, which operates across 18 Latin American countries, has revolutionized retail in the region. It’s become the largest e-commerce and digital payments ecosystem in Latin America — averaging 667 million monthly visitors, about four times what its closest competitor does. Combine Amazon, eBay, and PayPal, and you’ve got MercadoLibre.

MercadoLibre also operates a fintech platform Mercado Pago, reinforcing its advantage by democratizing digital payments in an area of the world where not many people have access to the bank accounts or debit cards needed to shop online.

The company’s efforts have been so successful that it has expanded to other websites and even brick-and-mortar retailers.

Unsurprisingly, MercadoLibre’s market dominance in two high-growth industries is fueling remarkable financial results. Over the course of the past year, MercadoLibre’s revenue has soared a whopping 89% to $6.3 billion. 

The company’s market cap currently sits at $51 billion, which is likely to grow tremendously over the next couple of decades, given the sizable market opportunities in digital payments and e-commerce as online shopping continues to grow in popularity.

With a little strategy and a lot of time, are these top growth stocks to make you rich? Time will tell.

#1 Stock For The Next 7 Days

When Financhill publishes its #1 stock, listen up. After all, the #1 stock is the cream of the crop, even when markets crash.

Financhill just revealed its top stock for investors right now... so there's no better time to claim your slice of the pie.

See The #1 Stock Now >>