Powered by MOMENTUM MEDIA
the adviser logo

Aussie lenders make Fintech 100 list

by Reporter3 minute read

fintech global fintech global

Ten Australian companies have been listed in KPMG’s Fintech 100 list, which identifies the top 50 fintech firms and an “emerging 50” list of companies “seeking to boldly push the envelope in financial services”.

Small business loan providers topped the list among Australian fintechs, with business loan provider Prospa leading its compatriots in the ranking.

According to KPMG, the list was compiled based on innovation, capital raising activity and size.

Online SME lender Prospa was the highest ranked Australian company at number 24. It also placed second on the Australian Financial Review’s Fast 100 list after averaging a 239 per cent revenue growth since 2013–14 and holding $50 million in equity and debt funding in 2017.

Advertisement
Advertisement

US-based lender OnDeck, which broke into the Australian market in 2015, placed 28th in the ranking, up two places from last year’s report, while German fintech Spotcap (which also has operations in Australia) came in at number 32.

Other Australian businesses that made the top 50 ranking were “buy now, pay later” businesses zipMoney (37) and Afterpay Touch (44).

Online home loan provider Tic:Toc and SME online lender Valiant made the Emerging 50 list, with both companies recognised for their growth and innovation practices.

Overall, 32 domestic and international lenders made the list, with Chinese fintechs — Ant Financial, ZhongAn and Quadian (Qufenqi) — taking out the top three spots.

KPMG said that it expects the industry’s development of disruptive technologies to “drive further innovation”.

“Disruption in the lending space continues to be a focus given the size and profitability of the segment and is expected to drive further innovation,” the KPMG report reads.

Other Australian companies that made the Emerging 50 list were international payment service Airwallex, online insurance provider Cover Genius, data service Hyper Anna, online investment service Macrovue and fast small loan provider MoneyMe.

[Related: Mortgage industry companies among fastest growing]

Aussie lenders make Fintech 100 list
fintech global
TheAdviser logo
fintech global

MORE FROM THE ADVISER

Mark hewitt

AFG GM to join MFAA board

Mark Hewitt, general manager, industry and partnership development at Australian Finance Group (AFG) will commence as...

READ MORE
Possibl co founders

Early commission payment loans open to full broker market

Following its launch of an early commission payment product to brokers using the effi platform, cash-flow solutions...

READ MORE
David Keeling

Grow expands structured finance, appoints senior partner

According to Grow Finance (Grow), David Keeling’s appointment, which commenced on 11 April, is part of a broader...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more