KPMG AND H2 VENTURES ' 2019 FINTECH 100 REPORT RELEASED
The 2019 Fintech 100 report covering the world's most innovative Fintech firms, co-authored by KPMG and H2 Ventures, has been released.
The 2019 Fintech 100 report covering the world's most innovative Fintech firms, co-authored by KPMG and H2 Ventures, has been released. This year, two Turkish startups made the list: Papara and MenaPay. India is in the top 10 with two companies, while China retains its place at the top this year.
The sixth of the ‘Fintech 100’ list, which KPMG has prepared together with its investment company H2 Ventures, has been published. This year, Asia-Pacific companies made their mark on the list of companies from 29 countries for the’ leading 50 ‘and’ emerging 50 ' categories. China, which has dominated the list for the past three years, ranked in the top 10 with three companies. China's Ant Financial retained its lead in the’ leader 50 ' section this year, while Singapore company Grab, which entered the list from third place last year, rose to second place this year. Chinese JD Digits was third, Indonesia-based GoJek was fourth, while Paytm from India was fifth. The US and UK also entered the top 10 with two companies.
Turkish Initiatives Give Hope
The ‘emerging 50’ section of the list included Papara from Turkey and MenaPay, a Turkish initiative based in the United Arab Emirates. Ahmed F., Founder Of Papara "We thank KPMG and H2 Ventures. We've obviously won a lot of awards this year but it's been the most valuable for us to be involved in Fintech100. To be able to find the value of our work in this way and to represent our country by being among the best in the world such as Ant Financial, Grab, N26, Nubank, Revolut is truly an indescribable happiness. We continue to work to do better in 2020. We are committed to being a technology initiative that our country is proud of,” he said.
Çağla Gül Şenkardeş, CEO of Menapay, which started its operations in 2017, said: “We aim to digitize cash with MenaPay, which is the first blockchain-based payment method in the Middle East and North Africa region, and we are trying to bring a new perspective not only to the crypto industry but also to the fintech ecosystem through the ecosystem we have created. We want to grow and contribute to our country's economy by becoming a global blockchain company, and it is a source of great pride and joy for us that Menapay is included in the 2019 Fintech100 report because it is an indication of how successful Turkish companies can be globally in the field of technology. We will continue to make improvements to the needs of users in 2020. We also undertake a mission to support the development of the blockchain ecosystem in our country and the work done in this area since the day we were founded. Within the ecosystem, we support the Blockchain Turkey platform and many different platforms and events that provide services in this area. We have the goal of being one of the leading companies in the realization of digital transformation by explaining the parser features that have increased the awareness and usage habits of blockchain, which is a new technology for the whole world, and in this sense it is our goal to both grow competent human resources and to make global developments accessible through us.”
"South Asia Is The Hottest Spot”
KPMG Turkey Information Systems Risk Management Department Head and partner Sinem Cantürk, " this year, the weight of companies based in Asia-Pacific is seen. Smart money is flowing rapidly into fintechs, which are focused on this region. The list included 42 companies from the Asia-Pacific region, including Australia and New Zealand, 36 from the United Kingdom and Europe-Middle East-Africa, and 22 from the United States. Investment by companies from venture capital has also increased significantly this year. The Ventures raised over $ 18 billion in 2019 from venture capital and over $ 70 billion in total. That represents a 36 per cent increase over last year. In addition, 32 companies in the Fintech 100 have received at least $ 100 million in investments in the past 12 months. The average investment the top 10 startups have received in the last 12 months is over $ 1.25 billion. As of today, Fintech 100 initiatives serve 2.5 billion people worldwide,” he said.
Highlights from the Fintech 100 list are as follows::
• As in 2018, this year's list was dominated by initiatives in the payments area. This was followed by asset management companies (20),insurance companies (17) and credit companies (15).
• India emerged as a fintech force this year. India ranked in the top 10 with two, seven companies in total.
• The list includes a drop in the number of initiatives in the payments and credit area this year. The number of asset/Porfoy management, insurance and multi-service platforms has increased.
• The list includes 27 payments, 19 asset management companies, 17 insurance companies, 15 credit companies, 9 digital/neo banks, 13 “multi-purpose” startups (platform-enabled fintech startups offering a wide range of financial services to customers).
• The ' x ‘Factor, which rates the sector in which companies operate, their capital size, their investment levels, geographic location, industry diversity, employment status and innovative identity in product, service, business model, was taken into consideration.