The fintech sphere had been on a rollicking run prior to the stock market in 2022. For instance, the Global X Fintech ETF grew 29% in value from 2020 to 2021. The opposite transpired in the following year, in line with the broader market sell-off. However, the fintech sector took a much harder beating, as it’s dominated by growth stocks. Hence, it’s probably the best time to pick up some high-growth fintech stocks to buy.

The fintech space caught fire during the pandemic years, with global investment growing by $335 billion. Spending surged in the sector due to increased demand for online financing, AI-driven decision-making, and usage in financial institutions. Despite the slowdown in equity prices in the sector, its long-term bull case remains firmly intact. The global fintech market is expected to grow at a stellar 20.3% from 2021 to 2030. Moreover, the proliferation of embedded finance is likely to grow at more robust pace at 421% over the next five years.

Shopify (SHOP)

Shopify (NYSE:SHOP) is a ubiquitous eCommerce platform with its tentacles spread across multiple growth areas in its niche. Over the years, it has expanded its merchant solutions with the resources and financial tools to continue growing its businesses. Some include its lending program, payments processing solutions, and others. Its merchant solutions have been growing by double-digit margins over the past several quarters, registering an impressive 25.8% growth last year.

Investors are concerned over Shopify’s growth rates in the past few quarters. Growth rates have normalized in the post-pandemic world complicated by a troubling macro environment. Revenue growth is at just 21.4% for the year, which pales compared to the 59% growth it generated on average over the past five years.

Nevertheless, it plans to raise prices by at least 33% for its monthly plans and continues adding and expanding its features each quarter to push growth rates higher. eCommerce remains a secular growth trend as well, which bodes remarkably well for Shopify’s business. Also, with SHOP stock trading at multi-year lows, it could be worth betting on current levels.

PayPal (PYPL)

PayPal (NASDAQ:PYPL) is a pioneer in the fintech space, amassing a user base of 435 million, offering wallets, merchant services, payment processing, and more. To put things in perspective, PayPal’s user base has grown by over 100% from 2017 to 2022. Moreover, over the past five years, it has grown its sales and earnings by 17.5% and 16.9%, respectively. However, amidst a myriad of headwinds facing the company, it has lost nearly three-quarters of its value since the summer of 2021.

Slowing consumer spending has negatively impacted the business’ top and bottom-line results. However, its management has done well to curb costs amidst a slowdown in sales growth. Operating expenses have grown by 2.7% in the past year, a testament to its management’s superior execution.

Looking at the bigger picture, I expect PayPal to recover from its headwinds in the coming months. Another interesting point is that the platform sees 60% more transactions per user for its mobile app users. However, adoption rates are remarkably low, with a runway of around 200 million accounts yet to adopt the app.

Upstart Holdings (UPST)

Upstart Holdings (NASDAQ:UPST) is an innovative fintech company that leverages its patented AI technology to improve lending practices. It’s been incredibly profitable for most quarters since going public, generating triple-digit growth during the pandemic. However, traditional lenders are back in the mix post-pandemic, while inflationary pressures are weighing down its lending business.

With lower lending volumes, the company has effectively reduced its workforce by 20%, bringing in $57 million in cash savings on operational expenses. Moreover, its management is looking to build long-term capital partnerships for Upstart. At the conclusion of its fourth quarter, the platform has 92 lending partners, up 119% from the prior-year period. Moreover, 82% of personal loans are automated as the company moves to operate a significantly leaner cost structure.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.