Australia has ranked fifth in terms of representation in this year's Fintech100 prepared by KPMG and H2 Ventures, with cross-border payment unicorn Airwallex the country's highest ranking firm at 32.
Co-founded by Jack Zhang (pictured), Airwallex completed a US$100 million Series C round in March giving it an estimated market value of more than US$1 billion.
"We are delighted to be recognised in the KPMG 2019 Fintech100 list as Australia's number one fintech," says Zhang.
"We are proud of the positive impact we've had on businesses all around the world, by transforming the way they manage their international payments.
"2019 has been Airwallex's strongest year yet. We've grown significantly in all aspects of the business, and are closing the year with over 400 employees across nine global offices. With ambitious and exciting plans in the pipeline, we look forward to rising to even greater heights in 2020."
Challenger bank Judo Capital was hot on Airwallex's heels in 33rd place, while buy-now-pay-later (BNPL) sensation Afterpay Touch (ASX: APT) also made the Top 50 in 47th place.
However, the BNPL company founded by Nicholas Molnar and Anthony Eisen actually dropped 21 spots from last year's list, even though the its shares have more than doubled in value since this time last year.
The leading 50 fintech firms were then followed by the 'Emerging 50' - an unranked list in alphabetical order that includes four Australian companies: Athena Home Loans, AI voice data fintech daisee, humanitarian emergency support fintech Sempo and paper receipt eliminator Slyp.
All the Australian companies featured in the list are founder-led.
New Zealand's Latipay, which focuses on international remittances on a bilingual platform in Mandarin and English, also made the Emerging 50 list.
The top six companies on the list all had their head offices in Asia with China's third-party payments platform Ant Financial taking the top honours, followed by Grab (Singapore), JD Digits (China), GoJek (Indonesia), Paytm (India) and Du Xiaoman Financial (China).
The United States led the way in terms of representation with 15 companies in the list, followed by the UK (11), China (10) and India (8).
With its diverse range of companies Australia had a greater representation in the list than the likes of Germany (5), Japan (4), Singapore (4), France (4), Brazil (4), Spain (3) and Israel (3).
H2 Ventures-KPMG's Fintech100 Top 50
1. Ant Financial
3. JD Digits
6. Du Xiaoman Financial
19. Clover Health
20. Oscar Health
22. Atom Bank
28. Banco Inter
33. Judo Capital
47. AfterPay Touch
48. Collective Health
H2 Ventures-KPMG's Fintech100 Emerging 50 (in alphabetical order)
Acko General Insurance
Athena Home Loans
Bowtie Life Insurance
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