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China’s fintech dominates the top five companies on Fintech 100

Kareyst Lin | Oct. 26, 2016
Fintechs are transitioning from being a single product disruptor to a fully-fledged financial player.

China's fintech continues to dominate the 2016 Fintech 100, with four of the top five companies on the list.

Hangzhou-based Ant Financial took the top spot in the 50 Established Innovators list. Qudian, Lufax and Zhong An were also in the top five. Oscar, at number three, is both the highest ranked insurtech and the highest ranked US-based company.

2016 Fintech 100 is announced by Fintech Innovators, a collaboration between fintech investment firms, H2 Ventures and KPMG Fintech, according to joint press release by these two firms on 24 October 2016.

The annual list includes the leading 50 Established fintech companies across the globe, as well as 50 'Emerging Stars' - new fintechs with bold, disruptive and potentially game-changing ideas.

The list shows that global competition is expanding, with 17 countries represented in the top 50 Established companies. This is an increase from 13 last year.

"It's interesting to see how fintechs are transitioning from being a single 'product disruptor to a fully-fledged financial player," said Chia Tek Yew, Head of Financial Services Advisory, KMPG Singapore. "One example is Ant Financial, which started as Alipay to help with payments within the Alibaba marketplace, and is now a player that provides multiple products."

The Fintech 100 were selected following an extensive global research and analysis based on data relating to five factors:

1.      Total capital raised

2.      Rate of capital raising

3.      Geographic and sector diversity

4.      Consumer and marketplace traction

5.      X-factor: degree of product, service and business model innovation (This is a subjective measure that is only applied with respect to companies appearing on the 50 Emerging Stars list) 

 

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