Six Singapore-based fintechs - Grab, Funding Societies, InstaReM, KyberNetwork, Ten X and Singapore Life - make it to the top 100 list for the first time
The 2018 Fintech100 was announced today, highlighting dynamic fintechs from around the world that are transforming the financial services industry, from digital payments and lending, to insurtech, to neo-banking, as they attract investment at a record pace.
The 2018 Fintech100 is the fifth edition of the annual report, a collaboration between fintech investment firm H2 Ventures and KPMG Fintech. The Fintech 100 includes the ‘Leading 50’ fintech firms around the globe, ranked based on innovation, capital raising activity, size and reach; and the ‘Emerging 50’, exciting new fintechs that are at the forefront of innovative technologies and practices and are often pursuing new business models.
Key highlights from the 2018 Fintech100 include:
Ian Pollari, Global Co-Lead of KPMG Fintech, commented: “The 2018 Fintech100 showcases the increasing diversity and scale of the global fintech market. Payments and lending continue to be the dominant sectors, however wealth management is taking off, with 14 companies on the list and insurtech remains strong with 12 companies. Notable this year is the emergence of neo banks, with 10 on the list – which is the beginning of what we believe will be accelerated growth of digital banking models globally.”
Leong Kok Keong, Head of Financial Services, KPMG in Singapore said: “I am delighted that 6 Singapore companies ranging from blockchain and insurtech to payment and lending platforms have made it to the 2018 Fintech100 list. Most notable is Grab which made it to the top 10 list. Each of the companies are harnessing data and technology to lead the way in fintech innovation and financial inclusion. Their entry into the Fintech100 list reflect Singapore’s importance as a global fintech hub where promising fintech companies are able to employ talent and secure capital and government support to grow and scale their business.”
The top 10 companies in 2018 Fintech100
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 here.