Australian FinTech-focused investment firm H2 Ventures and KPMG are calling on local fintech startups to nominate themselves for the global FinTech 100 list, which will celebrate 50 established startups and 50 ’emerging stars’, or undiscovered companies.
The established startups will be ranked according to criteria including total capital raised, rate of capital raising, and location and degree of sub-industry disruption, as well as the judging panel’s ratings on the degree of product, service, customer experience, and business model innovation.
Given global fintech investment tripled in 2014, it’s clear there’s a huge number of startups doing interesting things in the space. Last year’s inaugural 50 Best FinTech Innovators of 2014 list recognised companies including Square, Xero, Wealthfront, and Kabbage.
The decision to expand the list to include emerging startups in 2015 was made to recognise “exciting new fintechs with bold, disruptive, and potentially game-changing ideas” and help them build up a profile, said Ben Heap of H2 Ventures.
“The top FinTech Innovators list was initially envisaged as a platform to uncover and track the leading fintech startups from all over the world, but much like the industry, it has come a long way in 12 months,” he said.
Rod Drury, CEO of Xero, has urged startups to apply.
“Our recognition in last year’s list validated our vision of the financial web connecting financial institutions to small businesses around the world, and spurred us on to increase those efforts this year. I would highly recommend others nominate this year, it will be exciting to watch how together we can grow small business in 2015,” Drury said.
Increase its efforts it has: Xero raised over $127 million earlier this year to drive expansion into the US and the UK, and secured a partnership with Dropbox aimed at securing the small business market.
Ten of the emerging startups will be invited to attend a summit in London, where they will pitch their ideas to a number of financial institutions, venture capital funds, and investors. They will also be given professional services support from KPMG member firms, and membership to online fintech matchmaking platform Matchi.
The 100 startups to make the list will be announced in November through a series of parallel events in Sydney, London, Hong Kong, San Francisco, and Tel Aviv.
Entries close October 31.
Image: Ben and Tony Heap of H2 Ventures. Source: SMH.