In 2014, KPMG together with AWI and FSC released the “50 Best Fintech Innovators” report, one of the first papers that examined the most prominent Fintech players globally. 5 years on, CFTE is taking an in-depth look at the evolution of these 50 companies.
The 50 firms highlighted by KPMG in its “50 Best Fintech Innovators” report back in 2014 were certainly industry shakers. Collectively, the group raised a total of US$3.5 billion in funding up through 2014.
In a good sign for the group, their collective funding rose US$6.1 billion since 2014 (to US$9.6 billion overall), marking an increase of 170% since the report was released. This indicates growth and success for these firms, no doubt thanks to the greater awareness of Fintech around the world today.
However, what is interesting is that it is only a small fraction of what the Fintech industry has raised. From 2014 to 2018, private equity, venture capital and various mergers and acquisitions have contributed US$338.5 billion to Fintech firms, with funding averaging 36% in growth year-on-year.
Have these firms been left behind or is the world simply catching on to the benefits and advantages of Fintech?
The details and more will be available in the Fintech 50: Back to the Future Report available on July 22. Sign up here to automatically get it, for free, upon release.
The “Fintech 50: 5 Years in Fintech” report by CFTE presents their milestones, investment deals, growth and talent trends. We examine their hiring, survival rate, changing business models, success against incumbents, and expansion both geographically and in terms of market share.
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