There are 629 fintechs active in Australia, an 8 percent rise since September 2018 – with the big increases in fintechs in insurance, as well as middle and back office. Our map demonstrates the scale and diversity of the rapidly evolving Australian fintech sector.
Investment in the Australian fintech sector has followed the subdued trend globally, with $101M investment activity recorded in first half of 2019, according to the most recent KPMG Pulse of Fintech report. Australian fintech reflected a healthy US$600M across 28 deals in 2018.
The two local fintech sectors with the largest growth, by number of companies, have been Insurtech and Middle & Back office. Payments & Digital remains the largest sector, with 141 fintechs claiming that space. Five Neobanks have now also made an appearance on the Australian fintech landscape.
As of September 2019, the landscape is open to new submission and suggested changes. For any requests, please contact Braedon Reilly, Fintech Lead at KPMG High Growth Ventures.
View, download and print the one-page snapshot which showcases the breadth of fintech companies operating in Australia.