18 UK businesses named in KPMG’s global ‘Fintech 100’
Transferwise, Funding Circle and Property Partner make list of disruptive international financial technology firms
18 UK businesses have been named among the global ‘Fintech 100’; an index of the top 50 leading established financial technology (fintech) firms and 50 emerging start-ups of 2015.
Backed by KPMG and Australian investment firm H2 Ventures, the list seeks to highlight the most innovative and disruptive companies in global financial services.
Two UK businesses featured in the top ten “established” firms, with peer-to-peer lender Funding Circle in fifth place and mobile-first bank Atom bank in eighth.
Accounting software provider Xero was also listed in the top 50 at 15, while London-based money transfer service Transferwise – founded by Young Guns Taavet Hinrikus and Kristo Käärmann – ranked at 46.
This year’s top 10 emerging start-ups – which includes UK banking service Bankable – will be invited to pitch their ideas to financial institutions and investors at a Fintech Summit in London, and will also receive professional services support from KPMG.
In total, 20 different countries were represented on the list, including 40 companies from the Americas, 20 from Europe, the Middle East and Africa, and 22 from Asia and the Pacific.
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Additionally, the index reported that funding for fintech businesses is estimated to total $20bn for 2015, an increase of 66% on 2014, with London said to be the global fintech capital.
Warren Mead, global co-lead of KPMG’s fintech practice, said:
“This year’s report underscores the international nature of fintech, with the broad geographic diversity of the fintech companies featured.
“The good news is the UK is currently home to more emerging fintech companies on the list than anywhere else. In a fast moving sector, it will be interesting to track how many breakout over the next 12 months.”