KPMG and H2 Ventures have released their annual FinTech 100 report, recognizing the top global financial technology innovators. This year, seven Australian companies made the list, making Australia the fifth most represented country in the ranking.
Leading Countries in the FinTech Sector
The United States dominates the list with 15 companies, followed by the United Kingdom (11), China (10), and India (8). The majority of top FinTech companies are focused on payments and transactions, with other popular sectors including wealth management, insurance, loans, and credit services.
Australia’s Top FinTech Innovators
- Airwallex: A leader in global payment solutions, Airwallex was ranked 32nd globally, making it the highest-ranked Australian company on the FinTech 100. The company raised $100 million in Series C funding earlier this year.
- Judo Bank: Just below Airwallex at 33rd, Judo Bank raised $140 million in equity capital in August, further solidifying its position as a rising star in the Australian FinTech scene.
- Afterpay Touch: The Melbourne-based company specializing in deferred digital payment solutions ranked 47th on the list, showcasing its global expansion.
Emerging Australian FinTech Companies
In addition to the top 3, four Australian companies were featured in the Top 50 Emerging Firms list. These include Athena Home Loans, Diasee, Alyp, and Sempo. All of these emerging firms were founded in 2017, demonstrating the growth and innovation happening in Australia’s FinTech sector.
The Growth of Australia’s FinTech Ecosystem
Despite a slowdown in global FinTech investment, Australia’s FinTech sector continues to thrive. Ian Pollari, Head of KPMG FinTech Australia, highlighted the continued strength of the Australian ecosystem, with established players like Airwallex and Afterpay expanding globally. Additionally, companies like Judo Bank are raising significant capital, while newer startups continue to emerge and grow.
“The Australian FinTech ecosystem is performing exceptionally well, with major players challenging SMEs globally and new innovators emerging. It’s an exciting time for the Australian FinTech scene,” Pollari said.
By focusing on innovation and expansion, Australia’s FinTech sector remains a key player on the global stage, with a growing number of companies set to shape the future of finance.