Australia has made a strong showing in the 2017 Fintech100, with 10 Australian fintechs appearing on the list announced today by Fintech Innovators, a collaboration between fintech investment firm H2 Ventures and KPMG Fintech.
The Fintech100 is divided into two components: the ‘Top 50’ firms around the globe, which are ranked based on innovation, capital raising activity, size and countries; and the ‘Emerging 50’, companies that are at the forefront of innovative technologies and practices, seeking to boldly push the envelope in financial services.
Three Australian companies, Prospa, ZipMoney and AfterPay Touch, made the Top 50, either as a new entry or at a higher rank than their 2016 placement.
Seven Australian fintechs were represented on the Emerging 50: Airwallex, CoverGenius, Hyper Anna, Macrovue, MoneyMe Financial Group, Tic:Toc, and Valiant.
Ian Pollari, Global co-lead of KPMG’s Fintech practice, commented: "Australia has once again demonstrated its strong fintech credentials with a very strong showing on the Fintech 100. Globally, disruptive fintech companies continue to dominate, representing strong interest from investors in business models and management teams that are seeking to radically change the industry paradigm.
“That said, the importance of ‘enablers’ – companies working in cooperation with financial services institutions to steadily improve products and services – has remained steady. Across the 2017 list, there are 27 such enablers; working across accounting, insurance and banking," he said.
Ben Heap, Founding Partner at H2 Ventures said: "Capital continues to flow into the fintech sector reflecting investor confidence in the future potential of these firms. Australian fintechs Prospa, ZipMoney and AfterPay Touch have all raised significant capital over the past 12 months.
“The Top 50 are a strong reflection of the diversity of fintech innovation. There are fintechs with lending and payment platforms, insurtech, digital banking and companies applying big data to fintech. Superior data & analytics capability notably will be a requirement to be a great financial services firm in the future, be it a traditional bank or a game changing fintech startup,” he added.
The Fintech100 were selected following extensive global research and analysis based on data relating to five factors. Two criteria are related to capital raising reflecting the emphasis that venture capitalist investors place on the ability of firms to innovate in order to generate a long term sustainable competitive advantage.
View the full Fintech100 list or download the report at www.fintechinnovators.com.
H2 Ventures is a thought leader in fintech venture capital investment around the world. Founded by brothers Ben and Toby Heap, and based in Sydney, Australia, it invests alongside entrepreneurs and other investors in early stage fintech ventures. H2 Ventures is the manager of the H2 Accelerator – a leading fintech, data and A.I. accelerator.
KPMG’s Financial Services practice has launched the global fintech practice in order to leverage international investment activity and capability development in fintech across KPMG member firms. Warren Mead and Ian Pollari, partners with KPMG in the UK and KPMG in Australia respectively, have been appointed as global co-leads of the practice, along with a leadership team including partners from countries including the U.S., U.K., Israel, China & Hong Kong, India and Australia.
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