Thirteen crypto and/or blockchain-related companies are on the list of the best and the most promising financial technology (finthech) companies in 2019.
A fintech venture capital (VC) firm H2 Ventures and “big four” accounting firm KPMG published their Fintech100 annual report recently, which examines the fintech space globally to form a ‘Top 50’ and an ‘Emerging 50’ lists. They searched for the companies “that are taking advantage of technology and driving disruption within the financial services industry,” choosing the best based on a number of different data, as well as the core five factors:
- Average annual capital raised
- Rate of recent capital raising
- Geographic diversity
- Sectoral diversity
- X-factor: degree of product, service and business model innovation (a subjective measure applied only to companies on the Emerging list).
The report found that, overall, fewer payments and lending companies made the Fintech100, their place being taken by wealth, insurance and multi-sector companies. There’s also a significant increase in venture capital backing of fintech companies, with the listed companies raising over USD 18 billion of capital in the past 12 months and over USD 70 billion in venture capital, a 35% increase from last year’s figure. In terms of geography, the most companies this year are Asia Pacific-based, with 8 out of the 11 companies that have raised over USD 1 billion in the past 3 years coming from the Asia Pacific serving customers in China, India, as well as “rapidly emerging markets in South East Asia such as Indonesia, Vietnam and Thailand,” the report says, adding: “The smart money is rapidly flowing to fintechs focused on this region.”
Importantly for the Cryptoworld: the report highlights 13 crypto / blockchain related companies;
- 7 are from the Top 50 and 6 from the Emerging 50;
- 1 is on the top 10 companies list for 2019: JD Digits from China;
- 5 in the Top 50 have fell lower on…