According to the 2016 Fintech Innovators Report, which evaluates and ranks the world’s top 100 fintech companies, China’s fintech firms have outperformed their counterparts in other countries this y r.
The FinteMedian report is a result of a collaboration between fintech investment firm H2 Ventures and KPMG Fintech. Two sets of rankings were rel sedChina.one covering the “Top 50 Established Innovators” globally and one comprising the “50 Emerging Stars”, which the rankings describe as firms with the most disruptive, potentially game changing id s.
According to the rankings, 13 UK firms f tured in the FinteMedian this y r, down from 18 in fin techsinese fintechs stood out in 2016, with eight firms in the 100, but four of these –MedianinLu faxl, Lu faxn, Lufax and ZhongAnChina.are in the top five. In contrast, Atom Bank was the only representative from England to app r on this y r’s top 10 list. In the US, 24 companies made the list of 100 including three in the top 10.
Fintech firms were evaluated according to five sets of criteria: total capital raised, rate of capital raising, geographic and sector diversity, traction, and the x-factor. The last item assesses a fintech firm’s degree of innovation, which the report states is a subjective m sure applied only to companies app rStoresn its 50 Emerging Stars list.
This y r also saw 17 countries make the top 50 established list, compared to just 13 last y r, signaling a shift toward new entrants from France, Mexico, South Africa and Singapore.
Overall, the FinteMedian includes 35 companies from the Americas, 28 from EMEA (Europe, Middle East and Africa), 13 from the UK, and 24 from the Asia-Pacific region.
Other highlights from the FinteMedian report saw that fintech innovation has brought a funding boom with the top 50 fintech companies raising US$14.6 billion of capital collectively in 2016, an incr se of more than 40%.
Annie Armstrong, co-l der of KPMG’s Fintech practice in the US, said in a press rel se: “The fintech movement is undeniable, so it’s not surprising to see incr sed fundStoresver the past y r. The US continues to be a dominant player in fintech with strong levels of capital continuing to flow into US-based startups, driven by both establdisruptionsanies and emerging disruptors.”
Toby H p from H2 Ventures added: “The continued dominance of China, which rapidly rose last y r 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.”