Ten Australian tech companies have made the annual KPMG and H2 Ventures Fintech100 list for 2017, while China took out the three top spots.
Sydney online lender Prospa (Greg and Beau) was the highest-ranked Australian startup, landing in number 24 after a year that saw it close a $25 million capital raising round led by AirTree Ventures and secure a $20 million debt facility from Partners for Growth.
Larry Diamond’s ZipMoney, entered the Fintech100 at number 37 after a massive 2017 that saw Westpac invest $40 million into the “buy now, pay later” venture, and rival NAB offer a $260 million debt facility deal.
Afterpay Touch ( “buy now, pay later” fintech ) came in at number 44 after its February merger with Touchcorp saw it become a $350 million player.
The service is starting to enter mainstream retail, with its integration with Jetstar.
Foreign exchange provider Airwallex, artificial intelligence specialist Hyper Anna, home loan provider Tic:Toc, insurance distributor CoverGenius, cash loan provider MoneyMe, Business loan broking platform Valiant and investment firm Macrovue also made the list.
Two New Zealand fintechs – Xero at number 16 and Pushpay at 42 – made the main list while Banqer also featured.
The USA contributed the most number of fintechs to the 100 with 19 companies, but China was the big winner with the top 3 spots:-
Third party payments provider Ant Financial, property insurance tech firm ZhongAn and electronics leasing startup Qudian.
Lending and payment dominated this year’s Fintech 100, with 32 lending businesses and 21 payments companies making the cut.
KPMG and H2 Ventures said the 100 companies were chosen on 10 metrics, with total capital raised, rate of capital raising, geographic diversity, sectorial diversity and a subjective “X-factor” used as the five core judging factors.
The top 10 companies in this year’s Fintech100 were: