Wednesday, 26 October 2016 20:45

Aussie companies rank amongst world’s leading fintech innovators

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Aussie companies rank amongst world’s leading fintech innovators Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Nine Australian companies have made the list of the world’s leading fintech innovators, the 2016 Fintech 100, with three, including payments provider Tyro, among the leading 50 established global fintech companies.

Prospa and Society One ranked with Tyro in the top 50 innovators.

In addition, six Australian fintechs — Afterpay, Brighte, Data Republic, HashChing, Identitii and Spriggy — are listed in the emerging stars category.

Fintech Innovators, a collaboration between fintech investment firm, H2 Ventures and KPMG Fintech, announced the listings on Wednesday, revealing that, in total, the Fintech 100 includes 35 companies from the Americas, 28 companies from EMEA, plus 13 from the UK, and 24 companies from the Asia-Pacific region, including 10 from Australia and New Zealand.

H2 Ventures Toby Heap says, from a geographic standpoint, the continued rise of Chinese fintech is indisputable, with Hangzhou-based Ant Financial taking the top spot in the 50 established innovators list, and Qudian, Lufax and Zhong An also in the top five.

“The 2016 Fintech 100 demonstrates the acceleration of the disruption taking place in the global financial services industry, with more capital than ever being invested around the world in start-ups and established ventures that are creating new financial products and solutions,” Heap said.

“The continued dominance of China, which rapidly rose last year to take the top spot, tells only part of the story. We are seeing the emergence of exciting fintech players in countries across the world, from India to Israel, from Portugal to the Philippines.”

Oscar, listed at number three, is both the highest ranked insurtech and the highest ranked US-based company.

The level of funding has continued to rise for the Fintech 100, with the 50 established companies attracting an additional US$14.6 billion of capital since last year’s report, just 12 months ago, an increase of more than 40% from 2015.

Ian Pollari, global co-lead of KPMG’s Fintech practice, said: “One of the striking features of the year’s list is the growing success of fintech disruptors, with more than 90% of the top 50 ventures challenging incumbents or traditional business models".

“The Fintech 100 companies are increasingly attracting a greater share of capital as well, raising more than 65% of total global fintech investment over the past year.

“The report also highlights a growing and increasingly diverse fintech sector, with the creation of value in new sub-sectors such as regtech and data and analytics, and the continued growth in insurtech and blockchain.”

Fintech Innovators lists highlights from the Fintech 100 report:

•    China now tops the global rankings – within three years, China’s fintech ventures have gone from only one company included in the top Established 50 rankings in 2014, to China featuring four of the top five companies and eight of the top 50 this year;

•    Greater geographical diversification – the Established 50 list includes fintech companies from 17 different countries compared to 13 countries last year, with companies from France, Mexico, South Africa and Singapore appearing for the first time;

•    Disruptors dominate – nine of the top 10 companies on the list are fintech ‘disruptors’ (and 46 of the top 50);

•    Lending returns to the fore – 32 of the 100 have business models related to lending (up from 22 last year);

•    Insurtech continues its climb – with 12 insurance fintech companies in this year’s list, almost double last year’s total;

•    The emergence of regtech – with nine fintech companies focused on regulatory solutions in the list this year;

•    Mega funding rounds – the size of deals/funding rounds above US$1 billion have continued to rise, including Ant Financial, Lufax and JD Finance; and

•    The aggregate level of capital raise continues to rise – with the Established 50 reaching a total of US$14.6 billion of capital raised since last year’s report (12 months ago), an increase of more than 40 percent from 2015.

The Top 10 companies in the Fintech100 2016 are:

1.     Ant Financial – China

2.     Qudian – China

3.     Oscar – US

4.     Lufax – China

5.     ZhongAn – China

6.     Atom Bank – UK

7.     Kreditech – Germany

8.     Avant – US

9.     Sofi – US

10.  JD Finance – China

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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