Several Canadian companies were recognized in KPMG’s FinTech100, which names companies it believes are among the best in the world.
The list was put together byĀ FinTech investment firm H2 Ventures and KPMG FinTech. Toronto-basedĀ Wealthsimple, League, and SecureKey were among the company recognized in the top 50 category. In the emerging stars category, Toronto-based Borrowell, Wave, and Sensibill were recognized.
The companies wereĀ ranked after extensive global research based on innovation, capital raising activity, geographic, and sector diversity, size, and reach.
The top 50 companies have raisedĀ $4.8 billion USDĀ in the last year alone.
Overall, the roundup of successful FinTech companies includedĀ 41 companies from the UK and EMEA,Ā 29 companies from the Americas (North andĀ South America), andĀ 30 companies from ASPAC (includingĀ AustraliaĀ andĀ New Zealand). Five of the top 10 positions were taken by FinTechs from China.
KPMG’s research found that FinTechs focusing on disrupting traditional models represent 73 of the Finch 100, and make up most of theĀ 50 Emerging Stars list. In terms of sector, lending and payments-focused companies lead with 32 and 21 companies respectively. Fifteen companies are in transactions/capital markets and 12 are in insurtech.
“Disruptive FinTech companies continue to dominate the Fintech 100, representing strong interest from investors in business models and management teams that are seeking to radically change the industry paradigm,” saidĀ Ian Pollari, global co-lead of KPMG FinTech.Ā “That said, the importance of ‘enablers’ – companies working in cooperation with financial services institutions to steadily improve products and services – has remained steady. Across the 2017 list, there are 27 such enablers; working across accounting, insurance and banking.”
The 2017 FinTech100 report revealed thatĀ the top 50 companies have raisedĀ $4.8 billion USDĀ in the last year alone, and overĀ $27 billion USDĀ in aggregate capital over their lifetimes. The ‘Emerging 50’ have raised overĀ $600 million USDĀ in the last year, and just overĀ $1 billion USD since they were founded.
“Capital continues to flow into the FinTech sector reflecting investor confidence in the future potential of these firms. Twelve companies on this year’s list have raisings overĀ $100 million USD, including ZhongAn’sĀ $1.5 billion USDĀ raise in conjunction with its recent IPO on the Hong Kong Stock Exchange,” saidĀ Ben Heap, founding partner at H2 Ventures.
View the full Fintech100 list or download the report atĀ fintechinnovators.com.
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