Fintech Innovators, a collaboration between H2 Ventures and KPMG Fintech, has released its third annual global Fintech 100 list. It includes 50 established fintech companies, of which Canada’s League and SecureKey Technologies placed 36th and 42nd, respectively. League and SecureKey both raised substantial funding rounds earlier this year. The 2016 list also features “emerging stars” in the fintech sector. Among them are other venture-backed Canadian startups, including Wealthsimple and Overbond. Companies on the list have secured a combined US$14.6 billion since a year ago.
Photo: Michael Serbinis, founder and CEO of League Inc.
KPMG And H2 Ventures Announce The World’s 100 Leading Fintech Innovators For 2016
US$14.6bn invested in these 100 companies in 2016; 24 Are U.S.-based Companies, Including the Highest Rated Insurtech Startup
SAN FRANCISCO, Oct. 24, 2016 /PRNewswire/ — Fintech Innovators, a collaboration between fintech investment firm H2 Ventures and KPMG Fintech, today announced the third annual Fintech 100 list of the world’s
leading innovators for 2016.
The full 2016 Fintech 100 report can be viewed at: http://fintechinnovators.com.
The annual list includes 50 “Established” fintech companies across the globe, as well as the most intriguing 50 ‘Emerging Stars’ – exciting new fintechs with bold, disruptive and potentially game-changing ideas. The level of funding has continued to rise for the Fintech 100, with companies on the list attracting an additional US$14.6bn of capital since last year’s report, just 12 months ago.
In the U.S., 24 companies made the list of 100 including three in the top 10: Oscar, (3) was the highest ranked U.S. company and the highest ranked insurtech on the list. Avant (8) and Sofi (9) were also in the Top 10.
“The fintech movement is undeniable, so it’s not surprising to see increased funding over the past year,” said Annie Armstrong, co-leader of KPMG’s Fintech practice in the U.S. “The U.S. continues to be a dominant player in fintech with strong levels of capital continuing to flow into U.S.-based startups, driven by both established companies and emerging disruptors.”
Overall, the Fintech 100 includes 35 companies from the Americas, 28 companies from EMEA, plus 13 from the UK, and 24 companies from the Asia-Pacific region. The Emerging Stars list for 2016 includes companies from 19 countries, including fintechs from countries such as Chile and the Philippines, for the first time.
Toby Heap, H2 Ventures, commented: “The continued dominance of China, which rapidly rose last year to take the top spot, tells only part of the story. We are seeing the emergence of exciting fintech players in countries across the world – from India to Israel, from Portugal to the Philippines.”
Ian Pollari, Global co-lead of KPMG’s Fintech practice added: “One of the striking features of this year’s list is the growing success of fintech disruptors, with more than 90 percent of the top 50 ventures challenging incumbents or traditional business models. These disruptors are increasingly attracting a greater share of capital, raising more than 65 percent of total global fintech investment over the past year.”
Some of the report’s key findings include:
China fintech continued to dominate with four of the top five companies on the list
More global competition emerged, with 17 countries represented in the top 50 established companies, up from 13 last year.
New fintech subsectors emerged, including regtech (regulatory technology), with 9 companies on the list.
Insurtech continued its ascent, with 12 companies, almost double last year’s total.
The Top 10 companies in the Fintech 100 2016:
Ant Financial – China
Qudian (Qufenqi) – China
Oscar – USA
Lufax – China
ZhongAn – China
Atom Bank – UK
Kreditech – Germany
Avant – USA
Sofi – USA
JD Finance – China
About Fintech Innovators
Fintech Innovators was formed by H2 Ventures, in collaboration with KPMG Fintech, and publishes information on the world’s most successful, exciting and high impact new companies reshaping the financial services industry using new technologies.
About KPMG LLP
KPMG LLP, the audit, tax and advisory firm (www.kpmg.com/us), is the U.S. member firm of KPMG International Cooperative (“KPMG International”). KPMG International’s member firms have 174,000 professionals, including more than 9,000 partners, in 155 countries.
About H2 Ventures
H2 Ventures is one of the emerging thought leaders 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.
Contact: Pete Settles
Photo courtesy of League Inc