In compiling the list, KPMG & H2 Ventures review over 1000 Fintech companies from around the world. The 2018 Fintech100, highlights 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.
Speaking to StartupSmart, founder of Trade Ledger Martin McCann says the recognition is fantastic for his two-year-old startup. “One of the problems you face as a young startup is reception and validation in the marketplace while striving to do deals all the time. The nature of our business means it’s very long-term and complex, and the deals take a year or so to ramp up,” he says. “So during that time, you look for other validation points, and awards like this which are judged by experts in the industry helps you provide that.” Despite there being no prize bar recognition for being on the list, McCann says recognition will help his business stay “above the noise” and ahead of other competitors in the market. Reflecting on the broader fintech industry in Australia, he says the country is a fantastic place to start a new business, and it was great to see more Australian ventures branch beyond “domestic companies”. “We’re really starting to see Australian companies in fintech start to flex their muscles.”
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.”
Ben Heap, Founding Partner at H2 Ventures, said: “Venture capital backing of fintech companies continues to accelerate. The companies on the 2018 list have raised over US$52B in venture capital, more than double the total of last year’s list, and more than US$27B of capital in the past 12 months, a 366 percent increase over last year. In terms of major funding rounds, 26 companies on the Fintech100 have each raised US$100M in the last twelve months. The first four companies in the Leading 50 have all raised over US$1B in the last 12 months alone.”