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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
2. Grab
3. JD Digits
4. GoJek
5. Paytm
6. Du Xiaoman Financial
7. Compass
8. Ola
9. Opendoor
10. OakNorth
11. Lufax
12. Klarna
13. N26
14. Robinhood
15. SoFi
16. Nubank
17. TransferWise
18. OneConnnect
19. Clover Health
20. Oscar Health
21. PolicyBazaar
22. Atom Bank
23. Lendingkart
24. Stripe
25. Lemonade
26. Revolut
27. Monzo
28. Banco Inter
29. Toss
30. Wealthsimple
31. Affirm
32. Airwallex
33. Judo Capital
34. Coinbase
35. WeLab
36. MoMo
37. Kreditech
38. Liquid
39. Neyber
40. Singlife
41. Creditas
42. Bankera
43. Kabbage
44. Raisin
45. Metromile
46. OurCrowd
47. AfterPay Touch
48. Collective Health
49. Folio
50. ZhongAn
H2 Ventures-KPMG's Fintech100 Emerging 50 (in alphabetical order)
Acko General Insurance
AlpacaJapan
Arbor
Athena Home Loans
Banked
Billie
Binance
Bnext
Bowtie Life Insurance
Cashlez
Clik
daisee
Dether
Finanbest
Finhay
FlexiLoans
ForwardLane
Habito
InvestSuite
Inviou
Latipay
Lunchr
Masii
MenaChain Solutions
MioTech
Moin
Moonshot-Internet
Multiply
Mylo
Namaste Credit
Next Insurance
Oko Finance
Omni:us
OneDegree
Open
Papara
Paystack
PolicyPal
Rebel
Rundit
Sempo
Silot
Simply
Slyp
Spendesk
Tokeny Solutions
Toranotec
TrueLayer
Uala
Yields.io
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