Chinese companies have taken the top two spots on a new list of the world’s leading fintech firms, as well as four entries out of the top ten.
On 23 October KPMG Fintech and fintech investment firm H2 Ventures unveiled the fifth edition of the 2018 Fintech100, which ranks the world’s leading fintech firms in terms of innovation, rate of capital raising, scale and reach.
Chinese fintech companies dominated the upper ranks of the list, taking three out of the top four spots, with Ant Financial in first place, JD Finance in second and Baidu in fourth.
China’s Lufax also took tenth place on the list, bringing the number of Chinese companies in the top ten to four in total.
2018 Fintech100 Top 10 Companies
- Ant Financial (China)
- JD Finance (China)
- Grab (Singapore)
- Baidu (Du Xiaoman Financial) (China)
- Sofi (US)
- Oscar Health (US)
- Nubank (Brazil)
- Robinhood (US)
- Atom Bank (UK)
- Lufax (China)
China was host to the third largest number of fintech companies on the list at 11 in total, while the US came first with 18 entrants, followed by the UK with 12.
Australia and Singapore had 7 and 6 fintech companies on the list respectively.
34 of the 2018 Fintech100 were payments companies, 22 were lenders, 14 were in wealth management and 12 were in insurance, while 10 were digital banks or “neo banks.”
KPMG and H2 Ventures assessed companies based on five criteria, including total capital raised, rate of capital raising, geographic diversity, sector diversity and the “X-factor” of innovation in terms of products, services and business model.