The 2018 EY FinTech Australia Census was released as part of FinTech Australia’s Intersekt Conference in Melbourne today.
The census, now in its third year, paints a picture of a sector now well-established and coming into its own as a viable alternative within the financial services landscape.
This corresponds to an overall maturing of the sector, with fintech companies aged three years or older now making up 43% of the local industry, up from 31% in 2017 and just 20% in 2016.
Based on an online survey of 151 fintechs across Australia, as well as a series of 12 qualitative interviews with fintech leaders between August and September 2018, the Census remains the only detailed, industry-backed analysis of the Australian fintech industry.
One in five Australian fintechs are now profitable, compared to only one in seven last year, and median revenue growth was 125% compared to the year before.
The state of the sector:
And the fintech landscape:
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