Business & Economy Startups Six Singapore fintechs are among the KPMG’s Fintech100

Six Singapore fintechs are among the KPMG’s Fintech100

Follow us on Instagram and Telegram
- Advertisement -

The 2018 Fintech100 world list is the fifth edition of the annual report, a collaboration between fintech investment firm H2 Ventures and KPMG Fintech

Grab, Funding Societies, InstaReM, KyberNetwork, Ten X, and Singapore Life are six fintech that’s made it to the top 100 list of the 2018 Fintech100, just announced today. The report highlighted the companies that are deemed as transformative to the financial services industry, from digital payments and lending, to insurtech, to neo-banking, while also based on the investment these companies managed to raise.

The Fintech 100 includes the ‘Leading 50’ fintech firms around the globe, and the rest is ‘Emerging 50’, new fintechs that are considered innovative in their technologies and practices, and are often pursuing new business models.

The ranking is based on five factors that include:

  1. Total capital raised
  2. Rate of capital raising
  3. Geographic diversity
  4. Sector diversity
  5. X-factor: degree of product, service and business model innovation (a subjective measure that is applied only with respect to companies appearing on the 50 Emerging Stars list).

Also Read: Hong Kong startup ecosystem reaching for the top floor

Besides the household name like Grab which sits on the third place of Leading 50, the other five Singaporean fintechs are Funding Societies, an online financial inclusion platform that connects investors with small businesses which need funding; InstaReM, a cross-border remittance platform for individuals and businesses; KyberNetwork, an on-chain liquidity protocol that allows the exchange and conversion of digital assets; Ten X, a blockchain pioneer that makes multiple virtual currencies instantly spendable, but recently made news for its abrupt blocking to logging in; and Singapore Life, an independent life insurance company which uses digital robo-writing and identity verification capabilities to expedite application and approval processes.

Among the top occupiers of the list are Chinese fintechs, which made three of the top five places on the Leading 50 list. In total, there are 36 different countries represented in the full Fintech100, most of them are founded and operating in emerging markets, with 34 payment solution dominated the list.

“The 2018 Fintech100 showcases the increasing diversity and scale of the global fintech market. Even with payments and lending solution continue their dominance, 10 neo banks emerged on the list – which is the beginning of what we believe will be accelerated growth of digital banking models globally,” said Ian Pollari, Global Co-Lead of KPMG Fintech.

Also Read: Digital transformation is crucial for banks to remain competitive amid the fintech buzz

The top 10 companies in 2018 Fintech100

  1. Ant Financial (China)
  2. JD Finance (China)
  3. Grab (Singapore)
  4. Baidu (Du Xiaoman Financial) (China)
  5. Sofi (US)
  6. Oscar Health (US)
  7. Nubank (Brazil)
  8. Robinhood (US)
  9. Atom Bank (UK)
  10. Lufax (China)

Image Credit: H2 Ventures

The post Six Singapore fintechs are among the KPMG’s Fintech100 appeared first on e27.

Source: E27

Send in your scoops to 

- Advertisement -
Follow us on Instagram and Telegram

Follow us on Instagram and Telegram

Send in your scoops to