Top 100 Fintech Companies of 2015 named

By Madhvi Mavadiya | 14 December 2015

The world’s leading and emerging fintech companies were named today in the “Fintech 100”, a collaborative report by fintech investment firm H2 Ventures and KPMG Fintech. The report listed the 100 companies that used technology in order to disrupt the financial industry, the companies that fully defined the term “fintech”. “The Fintech 100 includes the leading 50 fintech companies across the globe, and the most intriguing 50 “emerging stars” – exciting new fintechs with bold, disruptive and potentially game-changing ideas – expanding on the success of last year’s list,” the report read.

With a focus on a number of industries including insurance, wealth and lending, 25% of the companies named in the top 100 were payments and transactions companies, while only 7% were insurance companies. Financing for global fintech has risen seven times since 2012 to $20 billion in 2015, which was also a large increase of 66% since last year.

H2 Ventures’ Tony Heap explored how fintech is a global industry now. “This year’s Fintech 100 highlights the truly global nature of fintech innovation, with startups from 20 countries on the list. Many of these companies have an X-factor that has captured our attention,” Heap said.

The fintech industry is innovation at its best and the report highlights how many of the traditional financial centres of the world, such as London, New York and Sydney, are now also renowned for being innovation hubs. This is why KPMG Fintech and H2 Ventures questioned who the most innovating global fintech companies were and underwent extensive research to then produce a list of the top 100 fintech companies, based on total capital raised, rate of capital raising, geographic & sector diversity, consumer & marketplace traction and the “X factor” Heap mentioned.

Established innovators that were mentioned on the list include recently licensed Atom Bank, as well as UK peer to peer lending platform Funding Circle and mobile payments company eToro. 12 of the 50 emerging stars were from the UK and included GoCardless, The Currency Cloud and Yoyo Wallet. Chinese fintech companies emerged as leaders in this year’s report as Shanghai-based ZhongAn was placed as the most innovative and six more Chinese companies appeared on the full list which is an indication of how venture capital levels and interest has increased in the country.

Warren Mead, global co-head of KPMG’s fintech practice commented on how there are seven Chinese and six UK companies on the Fintech 100 list. “The UK is clearly a leading centre for fintech but with the rise of Chinese firms that position is not guaranteed. The good news is the UK is currently home to more emerging fintech companies on the list than anywhere else.”

The Top 5 companies named in the Fintech 100 for 2015:

ZhongAn

Location: Shanghai, China

Specialisation: Insurance

At the top of the Fintech 100 list is this joint venture between e-commerce company Alibaba Group Holding, online gaming and social networking company Tencent and Ping An Insurance. Focusing on insurance, ZhongAn is set to become a major disruptor of the traditional lending sector and uses big data for automatic underwriting, auto claims and risk management.

Oscar

Location: New York, USA

Specialisation: Insurance

Oscar’s aim to provide a simpler healthcare system with a transparent service that has reinvented how medical claims are processed and costs are controlled. Using the American healthcare system as their inspiration, the company has revolutionised the consumer experience.

Wealthfront

Location: Palo Alto, USA

Specialisation: Wealth

World-class and long-term investment management is hard to get hold of, especially because of the high fees and steep account minimums, but with the expansion of technology into the financial industry, Wealthfront offers an automated service. This Fintech 100 company aims to provide sophisticated, yet affordable investment management that is offered by large financial institutions and private wealth managers.

Qufenqi

Location: Beijing, China

Specialisation: Payments

This electronic retailer is the top payments fintech company out of the 25 mentioned in the 100 and operates by providing monthly instalment payment solutions to Chinese students and professionals. Customers can choose the payment option and time period for these instalments in order to purchase a smartphone, laptop or other consumer electronics.

Funding Circle

Location: London, UK

Specialisation: Lending

Many fintech disruptors are focused on lending and disrupting the traditional banking sector and the company that KPMG Fintech and H2 Ventures believe is the most innovative in this industry is Funding Circle. This marketplace is focused on small businesses and provides a platform where investors can browse businesses that they may want to lend to and then through an auction process, bid the amount of money and interest rate they want to earn. 

See the full list here.

In conversation with CityAM, Mead states that while 2015 has been the year for disruption, 2016 will be the year of the enabler as we will see the large financial institutions start to increase their investment. He mentioned the deal between Spanish lender BBVA and UK challenger bank Atom this year and believes that others will do the same and "bank within a bank". 

"Fintech still has a long way to go before we see a truly transformational change across financial services, but the change will come and it will come from the disruptors and the enabler, and from all corners of the globe."