Nine Australian companies are in the global 2016 Fintech 100.
The latest annual list, compiled by accelerator H2 Ventures and KPMG, includes Prospa (31), Tyro (43) and SocietyOne (50) among the leading 50 established fintech companies.
Another six are in the 50 emerging stars list: Afterpay, Brighte, Data Republic, Identitii, Hashching and Spriggy.
Globally, Chinese fintech companies continue to rise, with Hangzhou-based Ant Financial taking the top spot in the 50 established innovators list. Qudian, Lufax and Zhong An are in the top five.
The Fintech 100 includes 35 companies from the Americas, 28 from EMEA (Europe, Middle East and Africa), 13 from the UK, and 24 from the Asia-Pacific region, including 10 from Australia and NZ. Accounting software business Xero, at 14, is the New Zealand entry.
The level of funding has continued to rise, with the 50 established companies attracting an additional $US14.6 billion of capital since last year’s report, an increase of more than 40%.
H2 Ventures co-founder Toby Heap says the Fintech 100 demonstrates the acceleration of the disruption taking place in the global financial services industry.
“The continued dominance of China, which rapidly rose last year to take the top spot, tells only part of the story,” he says.
“We are seeing the emergence of exciting fintech players in countries across the world, from India to Israel, from Portugal to the Philippines.”
The Top 10 companies in the Fintech100 2016:
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
The Fintech 100 companies were selected on these factors: Total capital raised; Rate of capital raising; Geographic and sector diversity; Consumer and marketplace traction; X-factor – degree of product, service and business model innovation.