Leading FinTech Innovators in 2015
December 22nd, 2015 - Posted by Adel Shahin
Earlier this year I wrote about Australian FinTech companies that everyone needs to keep an eye on. A few weeks ago, a report about the world leading FinTech companies was released. It’s good to see that 3 of the companies we’ve identified also made the global list.
The joint report between H2 Ventures and KPMG analysed the FinTech space globally and provides an overview summary on the 100 companies identified. The report also found that global FinTech financing has risen seven-fold over the past 3 years to an estimated US$20billion for 2015, an increase of 66% from 2014. London, New York and recently Sydney are becoming the major hubs for FinTech innovation.
The extensive research was based on 5 main factors: Total capital raised; Rate of capital raising; Geographic & sector diversity; Consumer & marketplace traction; X-factor: degree of product, service and business model innovation. The last factor was a subjective measure that had been ignored for ranking the top 50 companies.
Here are the top 5 companies listed:
ZhongAn – Tailored Insurance
Location: Shanghai, China
Year founded: 2013
ZhongAn utilise big data technology to assist with product design, automatic underwriting, auto claims, precision marketing and risk management. ZhongAn offers wide range of online insurance services to the Chinese market, catering to all socio-economic groups, with a major focus on travel, accident and health.
Oscar – Smart, simple health insurance
Location: New York, USA
Year founded: 2013
Oscar are reinventing how to manage care, process medical claims, control healthcare costs, and provide transparency. With all the complexity hidden behind an easy experience for members. Oscar is making the healthcare system simple, smart and friendly.
Wealthfront – The most tax-efficient, low-cost, hassle-free way to invest
Location: Palo Alto, USA
Year founded: 2011
Wealthfront is an automated investment service which combines world-class financial expertise and leading edge technology to provide sophisticated investment management at prices that are affordable for everyone.
Qufenqi – Helping students establish the right values in spending and credit
Location: Beijing, China
Year founded: 2014
Qufenqi is an electronics retailer that offers monthly installment payment solutions to the students and professionals in China. Qufenqi primarily offers smart phones, laptops and other consumer electronics online, allowing customers to choose their own down payment option and the time period for making regular monthly installments.
Funding Circle – Better for business, better for investors, better all round
Location: San Francisco, USA
Year founded: 2010
Funding Circle was created with one big idea; to revolutionise the outdated banking system and secure a better deal for everyone. Funding Circle is the world’s leading marketplace exclusively focused on small businesses, providing a platform where investors can browse businesses that Funding Circle has credit assessed and approved for lending.
Click here to download the full report, or visit fintechinnovators.com directly.