1 1
2017
FINTECH100
Leading Global
Fintech Innovators
3 3
Dear Reader,
KPMG and H2 Ventures are excited to present the fourth annual 'Fintech100' report which compiles a list of the year's best fintech
innovators from around the world.
The Fintech100 represents the most innovative companies, creating products and services at the juncture of technology and financial
services who are seeking to disrupt the existing processes and products that dominate the marketplace, with fintech companies from 29
countries featuring in this year's 100.
The Fintech100 is divided into two sub-lists: (1) the 'Top 50' established fintech firms around the globe, which are ranked based on
innovation, capital raising activity, size and country; and (2) the 'Emerging 50' firms, which are newer companies that are at the forefront of
innovative technologies and practices and often pursuing new business models.
We've selected the companies in the Fintech100 following extensive global research and analysis based on data relating to ten dimensions,
including the core five factors noted below:
1. Total capital raised
2. Rate of capital raising
3. Geographic diversity
4. Sectorial diversity
5. X-factor: degree of product, service and business model innovation (a subjective measure that is applied only with respect to companies
appearing on the Emerging list)
These selection criteria are the key metrics used to calculate the rankings of companies in the Fintech100 list because of the emphasis that
venture capitalists place on the ability of firms to generate scale and a long term sustainable competitive advantage.
The Fintech100 in 2017 includes:

41 companies from the UK and EMEA (Europe, the Middle East and Africa),

29 companies from the Americas (North and South America), and

30 companies from Asia (including Australia and New Zealand).
China continues to dominate the fintech landscape, representing 5 of the Top 10 fintech companies in 2017. This follows the trend from
previous years, as Chinese incumbents continue to scale with a heavy emphasis on payments and insurance. EMEA dominates the
Emerging 50, with 29 companies on that list. From an APAC perspective, Australia's place in the global fintech landscape is also on the rise,
with 10 companies in the List.
The sectorial breakup of the Fintech100 is as follows:

32 lending companies,

21 payments companies,

15 transaction and capital markets

12 insurance companies,

7 wealth companies,

6 regtech & cyber security companies,

4 blockchain and digital currencies companies, and

3 data and analytics companies.
4
Whilst lending and payments companies dominate the 2017 List, we also note the rise of data and analytics companies. Data and analytics is
an important enabler of the financial services industry and innovation in this area is crucial for the industry to continue to serve the needs of
customers and maintain relevance, in the face of growing competition from outside of the traditional industry boundaries. To this end, banks
and other financial institutions must optimise their 'data assets' and enhance their capabilities (both internally and through working with
fintech companies) in order to defend their existing profit pools and position themselves to explore new market opportunities.
A new theme which emerged from analysis of the companies in the Fintech100 is open banking designed to foster greater empowerment
of customers (consumer and small business), transparency and levels of competition. Open banking is not just the future of financial
services; it is the future of commerce itself as open 'banking' is just the start as it progressively extends to other segments of the financial
services industry and then beyond, including energy, telecommunications, etc. Open data will be the catalyst for a new phase of enablement
and disruption, leveraging technology and data to create new and improved products and services for customers. Open banking regulation
in the UK, Europe, the United States and Australia is the start of this change. This year's Fintech100 includes 15 companies that are seeking
to be a part of this solution. Founders and CEOs must have the agility and flexibility to adopt a 'plug and play' structure in a race against time
and competitors.
The companies on the 2017 List have raised over US$28 billion in venture capital (including from strategic investors) and more than US$5.5
billion of capital in the last 12 months.
We congratulate the Top 10 companies in the Fintech100 for 2017:
1.
Ant Financial is the world's largest third-party payments platform
2. ZhongAn uses big data to automate online property insurance
3. Qudian is an online electronics retailer offering monthly instalment re-payments
4. Oscar seeks to radically transform health insurance through technology
5.
Avant is the fastest-growing marketplace lending platform for short-term consumer credit
6. Lufax online financial asset trading company and uses big data to analyse risk
7.
Kreditech underwrite under-banked customers within seconds
8. Atom Bank is the UK's first purely digital retail bank
9.
JD Finance uses its e-commerce expertise to provide finance across seven verticals including consumer finance, crowd-funding and
payment services
10. Kabbage funds small businesses through its automated lending platform
You can read all about these companies, and many others, in the following pages.
We encourage you to visit www.fintechinnovators.com to find out more.
Yours Faithfully
Ben Heap
Founding Partner
H2 Ventures
@ben_heap
@IP23E
Ian Pollari
Partner & Co-Lead, KPMG
Global Fintech practice
KPMG
5 5
China (9)
United Kingdom (8)
Japan (1)
Australia (10)
Finland (1)
France (5)
Poland (2)
Netherlands (2)
Sweden (3)
Belgium (1)
Italy (1)
Turkey (1)
New Zealand (3)
Brazil (2)
Canada (6)
India (4)
Israel (3)
Korea (1)
Taiwan (1)
Kenya (1)
Mexico (2)
United States (19)
Ireland (3)
Malta (1)
Around the world
Singapore (2)
Nigeria (2)
Germany (5)
Switzerland (1)
6
The Fintech100 is a collaborative effort between H2 Ventures and KPMG and analyses the fintech space globally. The
Fintech100 comprises of a 'Top 50' and an 'Emerging 50' and highlights those companies globally that are taking advantage of
technology and driving disruption within the financial services industry. A judging panel comprised of senior partners from
H2 Ventures, KPMG and Matchi was used to decide on the final composition of the Fintech100 list.
H2 Ventures
H2 Ventures is one of the emerging thought leaders in fintech venture capital investment around the world. Founded by
brothers Ben and Toby Heap, and based in Sydney, Australia, it invests alongside entrepreneurs and other investors in early
stage fintech ventures. H2 Ventures is the manager of the H2 Accelerator - Australia's leading fintech, data and artificial
intelligence accelerator.
Twitter @H2_Ventures LinkedIn H2 Ventures Facebook H2 Ventures
KPMG Global Fintech
The financial services industry is transforming with the emergence of innovative, new products, channels and business
models. This wave of disruption is primarily driven by evolving customer expectations, digitalisation, as well as continued
regulatory and cost pressures. KPMG is passionate about supporting our clients to successfully navigate this change,
mitigating the threats and capitalising on the opportunities. KPMG's Global Fintech practice comprises of partners and staff
in over 35 fintech hubs around the world, working closely with financial institutions and fintech companies, to help them
understand the signals of change, identify the growth opportunities and to develop and execute on their strategic plans.
Twitter @KPMG LinkedIn KPMG
About the list
7 7
Payments (21)
Data and Analytics
(3)
Blockchain and Digital
Currencies (4)
Insurance (12)
Lending (32)
Wealth (7)
Regtech and Cyber
Security (6)
Transaction and
Capital Markets (15)
Sectorial breakup
8
01
China, China, China
First, second and third place, on this year's Fintech100, are occupied by Chinese fintech
firms. These firms are continuing a trend that is several years in the making and highlights the
extraordinary rise of the fintech industry in China.
02 Aggregate capital raisings
The 'Top 50' companies have raised US$4.8B in the last year alone and over US$27B in aggregate
capital over their lifetimes. Within the 'Emerging 50', over US$600M has being raised in the last
year and just over US$1B has been raised in total (since founding).
03 Major funding rounds and increasing interest from notable investors
Twelve companies on the Fintech100 have raised over US$100M, notably ZhongAn's USD1.5B
raise in conjunction with its recent IPO on the Hong Kong Stock Exchange. Venture investors in
Fintech companies include; Sequoia Capital, Index Ventures, Founders Fund and Y Combinator,
together with strategic investors such as Goldman Sachs, Morgan Stanley, MasterCard and
American Express.
04 Geographic diversification as an ongoing theme
The Fintech100 includes a broad range of fintech companies from 29 different countries, with
companies from Korea, Mexico and Poland included for the first time. It is noteworthy that 19
countries are represented in the Top 50. It is clear that no one nation or region 'owns' fintech
innovation fintech is a global phenomenon.
05
The UK & EMEA dominate the Emerging 50
26 companies from the UK & EMEA are listed in the 'Emerging 50', compared to 10 in the
Americas, and 14 in Asia (including Australia and New Zealand).
Key Highlights
9 9
06
Asia Pacific on the rise
30 companies from the region feature on the list, many of these in the 'Emerging 50', including
10 companies from Australia. This evidences a regional focus on the fintech sector and it reflects
the explosion of fintech startups across the region.
07
Lending and payments hold the fort
The number of lending and payments related businesses continues to stand out in this year's
Fintech100, with 32 and 21 companies respectively. Disruption in the lending space continues to be
a focus given the size and profitability of the segment and is expected to drive further innovation.
08 Data is the core of fintech business models
Data is the lifeblood of any financial institution; and will be a critical foundation for the successful
adoption of any advanced analytics and artificial intelligence. The vast majority of companies in
the Fintech100 are using data, analytics and artificial intelligence to fuel their business models.
09 Disruptors continue to stand out in the market
Disruptive fintech continue to dominate the Top 50, which are those companies that are radically
changing their industry paradigm for all players and competing directly with financial institutions.
However, the importance of 'enablers' (companies developing B2B solutions and working with
financial institutions) has remained steady. This year's Fintech100 features 27 that are 'enablers'
working across banking, insurance and wealth management.
10 Open banking around the world
Some of the most exciting enablers are working with the largest banks and financial services firms
in the world. Increasingly, these companies are adopting 'plug-and-play' models. Open banking
regulation in the UK, Europe, the United States and Australia has been a major catalyst for this
change. This year's Fintech100 includes 15 companies seeking to be a part of this solution.
10
Leading 50
page
#01 Ant Financial
10
#02 ZhongAn
11
#03 Qudian (Qufenqi)
12
#04 Oscar
13
#05 Avant
14
#06 Lufax
15
#07 Kreditech
16
#08 Atom Bank
17
#09 JD Finance
18
#10 Kabbage
19
#11 SoFi
20
#12 Nubank
21
#13 Funding Circle
22
#14 Klarna
23
#15 Square
24
#16 Xero
25
#17 Stripe
26
#18 SecureKey Technologies
27
#19 solarisBank
28
#20 Adyen
29
#21 Affirm
30
#22 Revolut
31
#23 Clover Health
32
#24 Prospa
33
#25 OurCrowd
34
#26
iZettle
35
#27 51Xinyongka (u51.com)
36
#28 OnDeck
37
#29 WealthSimple
38
#30 Circle
39
#31 Dianrong
40
#32 Spotcap
41
#33 Lendingkart
42
#34 Xapo
43
#35 Viva Republica
44
#36 WeLab
45
#37 zipMoney
46
#38 Rong360
47
#39 Future Finance
48
#40 Coinbase
49
#41 League
50
#42 Pushpay
51
#43 VertaaEnsin (Compare
EuropeGroup)
52
#44 AfterPay Touch
53
#45 Lendix
54
#46 Lending Club
55
#47 Kueski
56
#48 GuiaBolso
57
#49
iwoca
58
#50 Robinhood
59
The 100
1111
Emerging 50
page
 AdviceRobo
60
 AimBrain
61
 Airwallex
62
 Alan
63
 AutoGravity
64
 Banqer
65
 Borrowell
66
 Bud
67
 Capital Float
68
 Cherri Tech, Inc.
69
 Clark Germany GmbH
70
 CoverGenius
71
 CoverWallet
72
 Creamfinance
73
 Cuvva
74
 Flutterwave Inc
75
 GrassRoots Bima
76
 Hyper Anna
77

IbanFirst
78

iyzico
79
 Kensho
80
 KredX
81
 Lendify
82
 Leveris
83
 Lydia
84
 Macrovue
85
 MoneyMe Financial Group
86
 Moneytree
87
 Neo Growth
88
 Neyber
89
 PayFit
90
 Plynk
91
 Pockit
92
 Qonto
93
 Raisin
94
 Riby
95
 Satispay
96
 Sensibill
97
 Sherpa
98
 Silent8
99
 SoCash
100
 Stash
101
 ThetaRay
102
 Tic:Toc
103
 Token
104
 Trusona Inc.
105
 Valiant
106
 VATBox
107
 Wave
108
 Zaveapp
109
presented in alphabetical order
Symbols Explained
! How many staff work at the company
$ How large is the business

Is the company enabling existing financial services?
 Is the company disrupting financial services?
 Companies to watch in the coming years
12
01
Ant Financial
Company Description
Ant Financial is recognised as a global leader in third-
party payments, beginning its domination of the
payments world as 'Alipay'. Its focus is on using an open
source ecosystem to provide financial services to small
enterprises and individuals. Currently, it is responsible
for a payments empire and runs businesses including
Alipay, Ant Fortune, Zhima Credit, MYbank and Ant
Financial Cloud. Its operations cover payment, wealth
management, independent credit scoring and reporting,
private banking and cloud computing services.
Notable Investors
Alibaba, China Investment Corp (CIC), CCB Trust, China
Life, China Post Group, China Development Bank Capital,
Primavera Capital Group, National Social Security Fund
(NSSF)
"Governments, international institutions and private companies shall look for a common solution to
advance technology innovations for digital inclusive finance." - Lucy Peng
Tagline
Bring small and beautiful
changes to the world
Located
China
Year Founded
2004
Key People
Lucy Peng (CEO/Executive
Chair)
Website
www.antgroup.com
Category
Payments
Ownership
Private
Rank Last Year
01
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
1313
Company Description
ZhongAn is an online property insurance play, specialising
in the use of big data to automate underwriting and
claims processes, design and tailor products, and create
precision marketing campaigns and risk management
strategies. The company is a joint venture between
Alibaba Group Holding, Tencent Holdings and Ping An
Insurance, and was the first company in China to receive
an internet insurance license. It caters to a broad target
market, across all economic groups.
Notable Investors
Ant Financial, Tencent Holding, Ping An Insurance Group
Co., SoftBank Group, CDH Investments, Morgan Stanley,
CICC, SAIF Partners
"Today, technology and the internet are changing the world in a profound way As the first fintech company
to list in Hong Kong, ZhongAn will give more confidence to other players in this ecology." - Chen Jin
Tagline
Tailored Insurance
Located
China
Year Founded
2013
Key People
Chen Jin (CEO), Xu Wei
(COO), Jiang Xing (CTO)
Website
www.zhongan.com
Category
Insurance
Ownership
Public
Rank Last Year
05
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
02
ZhongAn
14
03
Qudian (Qufenqi)
Company Description
Qufenqi offers smartphones, laptops and other
consumer electronics devices to students and
professionals in China on monthly instalment plans.
Customers can flexibly chose from a range of down
payment options and time periods. Qufenqi targets
students and young professionals.
Notable Investors
Ant Financial, BRV Aster and Lotus, Beijing Kunlun
Technology Company, Beijing Phoenix Wealth Holdings,
Golden Summit, Hangzhou Liaison Interactive
Information Technology, Source Code Capital
"We are Number 1 of virtual credit card account[s] in China." - Luo Min
Tagline
Zero down payment
installments
Located
China
Year Founded
2014
Key People
Luo Min (CEO/Founder),
Carl Yeung (CFO)
Website
www.qufenqi.com
Category
Lending
Ownership
Private
Rank Last Year
02
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
1515
04
Oscar
Company Description
Oscar is the brainchild of US technology and healthcare
experts, seeking to transform the current state of the US
healthcare system. The product uses big data to reinvent
health care management and claims processing in an
effort to increase transparency and reduce the cost of
healthcare. The team behind Oscar emphasise simple,
smart and friendly healthcare as their product mission.
Notable Investors
Thrive Capital, General Catalyst Partners, Khosla
Ventures, CapitalG, and Fidelity Investments, Founders
Fund Formation 8, Horizons Ventures, Wellington
Management Company, Goldman Sachs, Google
Ventures and Google Capital
"I think we have an obligation to make sure people are covered against healthcare costs. A third of all
personal bankruptcies until about 2014 or so were related to health insurance. The uninsured rates were
shaved off by a couple of points when we came in." - Mario Schlosser
Tagline
Simple health insurance,
smart health care.
Located
United States
Year Founded
2013
Key People
Mario Schlosser (CEO/Co-
Founder), Joshua Kushner
(Co-Founder), Kevin Nazemi
(Co-Founder)
Website
www.hioscar.com
Category
Insurance
Ownership
Private
Rank Last Year
03
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
16
05
Avant
Company Description
Avant uses big data and machine-learning algorithms
to offer highly customised, streamlined credit. It is one
of the fastest-growing lending marketplaces and is
seeking to lowering the barriers to borrowing for everyday
consumers across a range of market segments.
Notable Investors
August Capital, Tiger Global, Victory Park Capital, General
Atlantic, KKR & Co, Jefferies
"What does Avant want to do? It wants to lower the costs and barriers for borrowing. And we're focused
on consumers specifically, but over time, we really want to focus broader than that." - Al Goldstein
Tagline
Personal Loans | Online Loans
Located
United States
Year Founded
2012
Key People
Al Goldstein (CEO/Co-
Founder), John Sun (CCO/
Co-Founder), Paul Zhang
(CTO/Co-Founder)
Website
www.avant.com
Category
Lending
Ownership
Private
Rank Last Year
08
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
1717
06
Lufax
Company Description
"Lufax" (Shanghai Lujiazui International Financial Asset
Exchange) is China's largest internet finance company,
and is one of the world's leading online marketplaces for
the trading of financial assets. Its key play is in the use of
big data and IT technologies to formulate advanced risk
assessment models and implement risk control systems.
Notable Investors
CICC, CDH Investments, COFCO, Guotai Junan
Securities, China Minsheng Bank, BlackPine Private Equity
Partners
"If you look at the US today, about 20%of the money is invested outside [of the country]. 25 years ago,
it was 5%. China today may be 3-5%, but in the next five to 10 years, it could become 20% and that will
become a huge opportunity... We want to be in the position to serve that demand." - Gregory Gibb
Tagline
Wealth management
platform, investment and
financing
Located
China
Year Founded
2011
Key People
Gregory Gibb (CEO/
Chairman)
James Zheng (CFO)
Website
www.lu.com
Category
Capital Markets
Ownership
Private
Rank Last Year
04
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
18
07
Kreditech
Company Description
Delivering a broad scope of financial services with
a focus on serving global consumers, Kreditech is a
leading technology company. The business adopts big
data, proprietary algorithms and automated workflows
to acquire, identify and assist customers within short
time frames. Self-learning algorithms support the
sophistication of technology to provide optimal customer
service, minimise cost, improve accuracy and take on
new customer data for continuous improvements.
Notable Investors
PayU, Rakuten, International Finance Corporation, J.C.
Flowers & Co., Victoria Park Capital, Vrde Partners,
Kreos Capital, Global Founders Capital, Blumberg Capital
"We are a German technology company which, through its products in different markets mainly
emerging markets offers lending to private customers" - Alexander Graubner-Mller
Tagline
Banking. Redefined. Digital
Located
Germany
Year Founded
2012
Key People
Alexander Graubner-Mller
(CEO/Co-Founder), Sebastian
Diemer (Co-Founder), Rene
Griemens (CFO/Co-Founder)
Website
www.kreditech.com
Category
Lending
Ownership
Private
Rank Last Year
07
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
1919
08
Atom Bank
Company Description
Atom Bank offers a new experience on the app platform as a
digital banking system. The Prudential Regulation Authority
has authorised the Bank in conjunction with the Financial
Conduct Authority regulation. Based in the UK, without any
physical branches, users can conduct their banking services
via their phone on a 24/7 basis.
Notable Investors
BBVA, Woodford Investment Management and
Toscafund Asset Management
"Old legacy processes that are institutionalised at the traditional banks simply don't exist at Atom
because we've built this bank from scratch,we can offer mortgages that are great value, and a service
that is fast, informative and transparent." - Mark Mullen
Tagline
The future of banking,
available today
Located
United Kingdom
Year Founded
2014
Key People
Anthony Thomson (Founder/
Chairman), Mark Mullen (CEO)
Website
www.atombank.co.uk
Category
Lending
Ownership
Private
Rank Last Year
06
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
20
09
JD Finance
Company Description
JD Finance aims to improve the efficiency of the
financial services sector by moderating and managing
risks, operating seven key business drivers: Supply
chain finance, consumer finance, crowd-funding,
wealth management, payment services, insurance,
and securities services. Its services include JingBaobei
(microloan platform), Baitiao (crowd funding platform),
Jintiao and Xiaobai (wealth management services). The
company's target customers include enterprises and
consumers.
Notable Investors
Microseer, Huifenqi, Omni Prime Inc., Meili Jinrong
Tagline
JD Finance Group
Located
China
Year Founded
2013
Key People
Richard Liu (CEO/Chairman)
Website
www.jd.com
Category
Lending
Ownership
Private
Rank Last Year
10
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"As CEO, who says that the customer always comes first, you yourself have to be the most loyal customer,
and you should experience the service of your own company all the time." - Richard Liu
2121
10
Kabbage
Company Description
Kabbage is a US based technology company that
provides a means for small businesses to find capital.
Online funding solutions are delivered in a flexible and
timely manner based on data reviews, which enable a
deeper understanding of business performance and
operations.
Notable Investors
SoftBank, Recruit Strategic Partners, BlueRun Ventures,
Santander InnoVentures, Thomvest Ventures, UPS
Strategic Enterprises, ING Group, Yuan Capital,
Reverence Capital Partners, Scotiabank
"Since we began providing funding in 2011, we've extended nearly $3 billion to 100,000 small businesses
across the U.S. To date, our customers have connected more than 1.4 million data sources to the
Kabbage Platform to receive an automated decision and rapid access to capital." - Kathryn Petralia
Tagline
Fund your Business. Today!
Located
United States
Year Founded
2008
Key People
Rob Frohwein (CEO/Co-
Founder), Marc Gorlin (Co-
Founder) Kathryn Petralia
(COO/Co-Founder)
Website
www.kabbage.com
Category
Lending
Ownership
Private
Rank Last Year
17
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
22
11
SoFi
Company Description
SoFi assists consumers, such as early stage
professionals, with their financing options across a
range of lending options and structures: student loan
refinancing, mortgages, and personal loans. SoFi's
unconventional approach with underwriting considers
account merit, employment records and a series of other
key factors, creating a more holistic way of serving their
customers. Individual and institutional investors are also
able to positively impact social groups and the broader
community while also gaining attractive rates of return.
Notable Investors
RPM Ventures, RSC Capital, SoftBank, Third Point
Ventures, Silver Lake Partners, DCM Ventures, Wellington
Management, SoftBank, Renren Inc.
Tagline
Great Rates. Great Benefits
Located
United States
Year Founded
2011
Key People
Tom Hutton (Interim CEO/
Executive Chairman), Steven
Freiberg (Vice Chairman/
Interim CFO)
Website
www.sofi.com
Category
Lending
Ownership
Private
Rank Last Year
09
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"SoFi's platform - equal parts technology, community, and exceptional customer experience - is rapidly
transforming personal finance." - Mike Bingle, Board Member
2323
12
Nubank
Company Description
Nubank adopts a mobile phone application that controls
its own platinum Mastercard credit card, providing a
seamless and simple spending experience. With 100%
digital channels and reduced paperwork frictions, Nubank
does not charge fees for its card usage and can be used
in more than 30 million channels across the world.
Notable Investors
Fortress Investments, Goldman Sachs, Redpoint,
Founders Fund, QED Investors, Sequoia Capital, Tiger
Global Management, DST Global
Tagline
Unlike anything you have ever
seen
Located
Brazil
Year Founded
2013
Key People
David Vlez (CEO/Founder)
Website
www.nubank.com.br
Category
Payments
Ownership
Private
Rank Last Year
16
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"There is a fear about entering the financial services market in a country like Brazil, which has a lot of
complicated regulations. That presents an opportunity for Nubank to come in and make a mark."
- David Velez
24
13
Funding Circle
Company Description
Funding Circle is the world's leading direct lending
platform for small business finance. Set up in 2010,
investors have lent 4 billion to nearly 40,000 businesses
across the UK, US and Germany and the Netherlands.
Funding Circle loans are funded by a diverse array of
investors including over 74,000 individuals, local and
national government and financial institutions such as
pension and insurance funds.
Notable Investors
DST Global, Rocket Internet, Union Square Ventures,
Sands Capital Ventures, Accel Partners, Temasek Holdings,
Index Ventures, Baillie Gifford, British Business Bank
"Learnings that we get in one market on marketing or risk, we can very quickly translate into other
markets. And it creates a really big, attractive proposition for say large insurance companies who don't
necessarily want to go to lots and lots of platforms and lend through them." - Samir Desai
Tagline
Business Financing
Located
United Kingdom
Year Founded
2010
Key People
Samir Desai (CEO/Co-
Founder), Andrew Mullinger
(Co-Founder), James
Meeking (MD/Co-Founder)
Website
www.fundingcircle.com
Category
Lending
Ownership
Private
Rank Last Year
12
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
2525
14
Klarna
Company Description
Klarna is a leading European provider of e-commerce
payment option which distinguishes payers from
buyers. This allows buyers to pay for pre-ordered items
upon or post receipt which can create a safer after-
delivery payment solution. Klara is particularly effective
in absorbing all credit and fraud risk for online stores,
guaranteeing sellers that they will safely receive their
transaction funds. Klarna's ultimate vision is to facilitate
a smooth, trustworthy and frictionless experience of
selling and purchasing around the world.
Notable Investors
Permira, Visa, Anders Holch Povlsen, Creandum, Fabrice
Grinda, FJ Labs, Wellcome Trust, Northzone, Wellington
Management, Reimann Investors
Tagline
Simplifying Buying
Located
Sweden
Year Founded
2005
Key People
Sebastian Siemiatkowski
(CEO/Co-Founder), Victor
Jacobsson (Co-Founder),
Niklas Adalberth (Co-
Founder)
Website
www.klarna.com
Category
Payments
Ownership
Private
Rank Last Year
11
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"Klarna has played a role in disrupting payments services for the better and now as a consumer-oriented,
product driven and technology intensive bank, we have the tools to drive change in retail banking. " -
Sebastian Siemiatkowski
26
15
Square
Company Description
Square supports businesses from a register in one's
pocket to reports on their laptop. The technology
integrates a full point of sale alongside tools for every
component of operating a business such as inventory
management and financing options. Two products
include Square Cash, which enables easy money
transactions, and Square Order, a means of pre-ordering
and picking up food and drinks.
Notable Investors
GGV Capital, GIC, Access Technology Ventures, Sapphire
Ventures, Sozo Ventures, Goldman Sachs, Silicon Valley
Bank, Morgan Stanley, Barclays Investment Bank
"It's (profitability) always something we are driving towards but we want to make sure that we have a good
balance between driving profit and investing in the company. " - Jack Dorsey
Tagline
Card payments made simple.
Located
United States
Year Founded
2009
Key People
Jack Dorsey (CEO/Chairman/
Co-Founder)
Website
www.squareup.com
Category
Payments
Ownership
Public
Rank Last Year
13
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
2727
16
Xero
Company Description
Xero is a cloud-based accounting software business
that enables small businesses to adopt an easy-to-use
platform. The software enables people to connect with
each other on any device, at any location, at any time, with
any numbers and figures. Xero builds a trusted network
of accountants and bookkeepers and strengthens
their relationships through online collaboration. Small
businesses can access a full accrual accounting system
with a cashbook, automated daily bank feeds, invoicing,
debtors, creditors, sales tax and reporting.
Notable Investors
TCV, Accel Partners, Matrix Capital Management, Valar
Ventures, Craig Winkler, Sam Morgan
Tagline
Beautiful accounting software
Located
New Zealand
Year Founded
2006
Key People
Rod Drury (CEO)
Website
www.xero.com
Category
Accounting
Ownership
Public
Rank Last Year
14
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"We are going to do everything we can to reduce low value accounting work to free up time for people to
drive growth strategies for their business customers. And we are unapologetic about that." - Rod Drury
28
17
Stripe
Company Description
Stripe offers a means of accepting payments online and
in mobile apps, utilising bank accounts from local and
international cards. It adopts a friendly approach and
processes billions of dollars per annum, serving thousands
of companies across a broad range of sizes. Stripe focuses
on assisting developers, makers and creators. By facilitating
frictionless transactions, Stripe addresses a problem
rooted in code and design, not finance. The Application
Programming Interface is solid, clean and enables users to
focus on building great products.
Notable Investors
CapitalG, General Catalyst, Sequoia Capital, Square Peg
Capital, Kleiner Perkins Capital, Playfair Capital, Paua
Ventures, Visa, American Express, Founders Fund, Peter
Thiel, Chris Dixon, Elad Gil, Elon Musk, Y Combinator, SV Angel
"It's really easy for technology companies once they've reached a modicum of success to feel very
satisfied and rest on their laurels. You have to continue to earn that success year after year after year." -
John Collison
Tagline
The new standard in online
payments
Located
United States
Year Founded
2013
Key People
John Collison (Co-Founder),
Patrick Collison (Co-Founder)
Website
www.stripe.com
Category
Payments
Ownership
Private
Rank Last Year
21
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
2929
18
SecureKey Technologies
Company Description
Headquartered in Toronto, SecureKey simplifies consumer
access to and use of online services and applications.
The SecureKey Concierge Service is a sophisticated,
privacy-enhanced network for connecting people to
online services using an established, trustworthy digital
credential with recognised means of identity confirmation
and authentication.
Notable Investors
Intel Capital, Rogers Ventures, TELUS Ventures, Discover
Financial Services, MasterCard, Visa, BlueSky Capital, RBC
Venture Partners, CIBC Capital Partners, BMO Capital
Markets Corp., TD Bank, Bank of Nova Scotia, Desjardins
Venture Capital
Tagline
Building trusted identity
networks
Located
Canada
Year Founded
2015
Key People
Greg Wolfond (Founder/
Chairman)
Website
www.securekey.com
Category
Regtech
Ownership
Private
Rank Last Year
42
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"We know in identity and attribute sharing it has to be that simple to use, but if we can make it that simple
and hew to privacy and higher in security, then it's going to be the envy of the world." - Greg Wolfond
30
19
solarisBank
Company Description
solarisBank operates as an API-accessible banking
business, under a German banking license to address
the needs of the digital economy. The Platform creates
customised solutions to assist and empower startups,
fintechs and established digital companies to solve their
financial needs. Supporting the growth of the digital
economy is a key component of solarisBank's vision.
Notable Investors
Arvato Financial Solutions, SBI Holdings, UniCredit Group,
yabeo capital, FinLeap
"Only if you grow quickly and across borders will you be able to make it in this business. As a first mover, we
have an advantage." - Dr. Roland Folz
Tagline
Empowering Finance Pioneers
Located
Germany
Year Founded
2016
Key People
Dr. Roland Folz (CEO),
Andreas Bittner (Co-
Founder), Marko Wenthin
(Co-Founder)
Website
www.solarisbank.de
Category
Lending
Ownership
Private
Rank Last Year
Emerging company
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
3131
20
Adyen
Company Description
Adyen is an innovative player in the payments industry
which provides advanced solutions to over 3,500
customers. The platform enables streamlined global
payment transactions, improves customer experience,
improves processes and ultimately enhances business
performance. Mobile and Point-of-Sale avenues are
available with over 187 transaction currencies and 250
payment methods.
Notable Investors
ICONIQ Capital, Index Ventures, Felicis Ventures,
Temasek Holdings, General Atlantic
Tagline
Wherever people pay
Located
Netherlands
Year Founded
2006
Key People
Pieter van der Does (CEO/
Co-Founder), Arnout Schuijff
(CTO/Co-Founder)
Website
www.adyen.com
Category
Payments
Ownership
Private
Rank Last Year
15
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"Adyen is a single solution and we build everything in-house, with one platform that works end-to-end,
so that no transactional data is lost." - Pieter van der Does
32
21
Affirm
Company Description
Affirm is recreating core components of financial
infrastructure in a creative and bottom-up way. The
aim is to improve the lives of everyday consumers with
a more affordable and transparent means of accessing
financial products. Instalment loans are available to
consumers at the point of sale, creating greater flexibility
around payments and timings. Pricing is also dynamic and
adaptable based on risks in real life.
Notable Investors
Lightspeed Ventures, Khosla Ventures, Jefferies,
Andreessen Horowitz, Spark Capital, Founders Fund,
Morgan Stanley
"Our mission is to fix the inherently broken model. The future of credit is not a traditional card, it's a
modern app that puts consumers in control, helping them use credit simply and deliberately while giving
them more confidence over their financial lives." - Max Levchin
Tagline
Pay over time, on your terms
Located
United States
Year Founded
2012
Key People
Max Levchin (CEO)
Website
www.affirm.com
Category
Lending
Ownership
Private
Rank Last Year
19
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
3333
22
Revolut
Company Description
Revolut offers a global money app that operates at 0%
commission with the best exchange rates, encouraging
user expenditure around the globe. Launched in 2015
to enhance fairness and financial liberty, Revolut also
emphasises the need to provide a great user experience.
The app had 47,000 active users within 3 months and an
average of $1.3m transactions per day.
Notable Investors
Seedcamp, Venrex Investments, Index Ventures,
Mastercard Start Path, Point Nine Capital
Tagline
Your digital banking alternative
Located
United Kingdom
Year Founded
2015
Key People
Nikolay Storonsky (CEO/
Founder)
Website
www.revolut.com
Category
Payments
Ownership
Private
Rank Last Year
New to the list
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"We'd rather try then fail rather than wait, analyse, think, then don't do anything. There is a good phrase:
paralysis through analysis. We are not these type of people." - Nikolay Storonsky
34
23
Clover Health
Company Description
Clover Health has become a key player in the health
insurance space, taking on preventative care and data
analysis to assist the elderly and their families. The
business offers a more affordable option to customers
with a greater value proposition.
Notable Investors
Brainchild Holdings, Grape Arbour VC, Athyriu
Capital Management LP, First Round Capital, Wildcat
Venture Partners, Sequoia Capital, Arena Ventures,
Summit Action, Social Capital, AME Cloud Ventures,
FLOODGATE, Greenoaks Capital, Casdin Capital,
Refactor Capital, Nexus Venture Partners, Expanding
Capital, GV, Coalescence Partners
"We have people calling us up wanting to give us the results of their MRI scansPeople want to share their
data because they know it can help." - Vivek Garipalli
Tagline
Medicare done differently
Located
United States
Year Founded
2013
Key People
Vivek Garipalli (Co-Founder),
Kris Gale (Co-Founder)
Website
www.cloverhealth.com
Category
Insurance
Ownership
Private
Rank Last Year
New to the list
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
3535
24
Prospa
Company Description
Prospa is an Australian leader in online lending, offering
unsecured business loans and finance for small
businesses. Most loans can be approved in one hour, and
funding within one business day. The increased speed
and efficiency is supported by smart technology and
a clean online application process. By addressing the
timeliness issues in a flexible way, working capital needs
can be addressed and users can concentrate on their
businesses.
Notable Investors
The Carlyle Group, AirTree Ventures, Ironbridge Capital,
Square Peg Capital, Entre Capital
Tagline
Business loans made easy
Located
Australia
Year Founded
2012
Key People
Beau Bertoli (CEO/Founder),
Greg Moshal (CEO/Founder)
Website
www.prospa.com
Category
Lending
Ownership
Private
Rank Last Year
31
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"We would like our product to be available in any ecosystem where small business customers are
operating, and we want to make financial support available to them when they decide to grow and
innovate their businesses." - Beau Bertoli
36
25
OurCrowd
Company Description
OurCrowd provides an equity crowdfunding platform
for accredited investors to access and invest in Israeli
companies as well as other businesses from around the
world. The management team has a rich background in
investment, led by the serial entrepreneur Jon Medved.
OurCrowd identifies opportunities, invests its own capital
and creates a bridge between startups to an accredited
pool of 20,000 international and domestic investors.
Post-investment support (such as fostering mentor
relationships with industry experts and implementing
board seats) is also provided to portfolio companies.
Notable Investors
United Overseas Bank in Singapore, Shanghai
Commercial Savings Bank in Taiwan, Citic Pacific in Hong
Kong, Singapore's Sassoon Investment Corporation, and
Monash Private Capital
"We're a next generation crowd-funding or investing platform. We're trying to allow people to access
innovation easily. Innovation is important to everybody." - Jon Medved
Tagline
A better way to invest in Israeli
startups
Located
Israel
Year Founded
2012
Key People
John Medved (CEO/Co-
Founder), Steven Blumgart
(Chairman/Co-Founder)
Website
www.ourcrowd.com
Category
Crowd Funding
Ownership
Private
Rank Last Year
18
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
3737
26
iZettle
Company Description
iZettle allows credit card users to access a mobile
payment solution via their smartphone or tablet at
a more cost efficient level. iZettle includes business
analytics and insights and a mobile card reader, assisting
merchants in managing and improving their businesses.
Notable Investors
Index Ventures, SEB Private Equity, Mastercard,
Santander InnoVentures, Intel Capital, Zouk Capital LLP,
Hasso Plattner Ventures, American Express Ventures,
European Investment Bank
Tagline
Accept credit card payments
with your iPhone, iPad or
Android
Located
Sweden
Year Founded
2010
Key People
Jacob De Geer (CEO/
Founder), Magnus Nilsson
(COO/Founder)
Website
www.izettle.com
Category
Payments
Ownership
Private
Rank Last Year
35
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"We're proud to receive this stamp of approval from the EIB. It's the type of offer you can't refuse and it
will allow us to further accelerate our growth and continue to level the playing field for small businesses,
giving them access to tools to take on the big corporations." - Jacob de Geer
38
27
51Xinyongka (u51.com)
Company Description
U51.com assists users to better manage their credit
card bills via a mobile application. It also provides wealth
management products, online loan applications and
other personal credit-based services in a holistic manner
to better serve their customer base.
Notable Investors
Meridian Capital China, GGV Capital, JD.com, Shunwei
Capital, Xinhu Zhongbao, Tiantu Capital, Yintai Group,
Harvest Capital
"U51.com has more than 70 million users and 30 million monthly active credit card bills." - Sun Haitao
Tagline
51.com is a platform focused
on providing social network
application services.
Located
China
Year Founded
2012
Key People
Sun Haitao (CEO/Founder)
Website
www.u51.com
Category
Lending
Ownership
Private
Rank Last Year
New to the list
Staff
Unknown
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
3939
28
OnDeck
Company Description
OnDeck creates a simpler, faster and more efficient
borrowing process for small businesses in Australia, the
US and Canada. OnDeck facilitates connections between
capital and businesses across the main streets such
as restaurants, retailers and other service providers.
Data aggregation and electronic payment technology
are adopted to break down the financial health of small
businesses and create opportunities for them to access
the required capital.
Notable Investors
Khosla Ventures, Sapphire Ventures, Fortress
Investment Group, Goldman Sachs, IVP, Peter Thiel, GV,
Industry Ventures, Deutsche Bank, Foundation Capital,
Tiger Global Management, Credit Suisse
Tagline
Small business loans and
financing
Located
United States
Year Founded
2007
Key People
Noah Breslow (CEO)
Website
www.ondeck.com
Category
Lending
Ownership
Public
Rank Last Year
30
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"We will empower small businesses in the next decade to achieve their goals with the fastest and most
flexible credit solutions in the market." - Noah Breslow
40
29
WealthSimple
Company Description
Wealthsimple is a rapidly growing online investment
manager that allows investing in a simple, cost effective
and accessible manner. Personalized portfolios of
diversified, low-fee, ETFs are created for each client,
and automation technologies are utilised to manage and
maintain them. Wealthsimple also offers an on-demand
advice and help channel via phone, email or text under
their 'Wealth Concierge' brand.
Notable Investors
Christian Lassonde, Joe Canavan, Impression Ventures,
Roger Martin, David Ossip, Power Financial Corporation
"It used to be that unless you had a lot of money, you couldn't get access to really great financial tools and
advice. So that meant lots of people - and younger folks in particular, weren't being served by the financial
services industry. We are making great investment advice accessible to everyone." - Michael Katchen
Tagline
Invest in Future You
Located
Canada
Year Founded
2014
Key People
Michael Katchen (CEO/
Founder)
Website
www.wealthsimple.com
Category
Wealth
Ownership
Private
Rank Last Year
Emerging company
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
4141
30
Circle
Company Description
Circle provides an application for users to take up
payment tools for Bitcoin and other digital currency
services. Circle is working to revolutionise consumer
finance for users (e.g. businesses and charities) by
deploying simple, free technology for storing and using
money. Through Circle's mobile apps, people across the
globe are able to transfer money, with greater easy and
security as well as zero fees. Users benefit from ease-of-
use in online and in-person payments, and more efficient
and timely global digital money transfers.
Notable Investors
General Catalyst, Baidu, Pantera Capital, Oak Investment
Partners, Goldman Sachs, BoomStartup, Accel Partners
Tagline
Pay friends (and get paid) with
an email or text. Free!
Located
United States
Year Founded
2013
Key People
Jeremy Allaire (CEO/Founder/
Chairman), Sean Neville
(President of Product and
Operations/Co-Founder)
Website
www.circle.com
Category
Digital Currencies
Ownership
Private
Rank Last Year
20
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"When's the last time you sent a 'cross-border email'? The idea of cross-border payments is going to
completely go away. ... Our vision is for there to be no distinction between international and domestic
payments." - Jeremy Allaire
42
31
Dianrong
Company Description
Dianrong designs and customizes lending products and
services with their sophisticated infrastructure, factoring
in industry-specific data and insights. Online risk-
management and operation tools are key components
of the product and service offerings. These offerings
include loan originations, investment products, and
marketplace lending solutions. Dianrong has 28 offices
across China and originates US$500 million in monthly
assets for 4 million retail lenders.
Notable Investors
Tiger Global Management, Standard Chartered Bank, GIC
"The people who join us from the banks do so once they get to know how the banking sector really works.
Then they start to lose hope that they'll ever get to change things at a bank so their only hope is to join
us. But if you want a stable life in China, go ahead and join a bank." - Kevin Guo
Tagline
The New Finance. For
borrowers. For lenders. For
you.
Located
China
Year Founded
2012
Key People
Yuhang (Kevin) Guo (CEO/
Founder), Soul Htite (CEO/
Founder)
Website
www.dianrong.com
Category
Lending
Ownership
Private
Rank Last Year
New to the list
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
4343
32
Spotcap
Company Description
Headquartered in Berlin with operations in Spain, the
Netherlands, the United Kingdom, Australia and New
Zealand, Spotcap is a multinational online lender that
offers innovative solutions for small and medium-sized
businesses. Small business loans with values from $10,000
to $250,000 can be taken up, enabling small business owners
to expand and develop their business quickly and flexibly. A
sophisticated and dynamic decision process is a key value
proposition for Spotcap.
Notable Investors
Heartland Bank, HV Holtzbrinck Ventures, Access Industries,
Rocket Internet, Kreos Capital, Finstar Financial Group
Tagline
Financing business
opportunities
Located
Germany
Year Founded
2014
Key People
Jens Woloszczak (CEO/Co-
Founder)
Website
www.spotcap.com
Category
Lending
Ownership
Private
Rank Last Year
29
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"Technological progress will continue to transform the financial sector. I'm certain that collaboration
between fintech companies and traditional financial institutions will give this transformation an additional
boost and be mutually beneficial for both parties." - Jens Woloszczak
44
33
Lendingkart
Company Description
Lendingkart Group serves entrepreneurs by allowing
them to easily access working capital finance options,
eliminating or reducing their concerns or worries about
cash flow gaps. Big data analysis and technology tools
create a more efficient and effective way of evaluating
one's credit worthiness, subsequently offering other
related services. A potential client can have their credit
risk profile evaluated and assessed, from their existing
cash flows and business growth. Thereafter, a short term
revolving credit line can be arranged as working capital.
Notable Investors
Shailesh Mehta, Mayfield Fund, Saama Capital, Ashvin
Chadha, Bertelsmann India Investments, Darrin Capital
Management, India Quotient, Anicut Capital, Yes Bank,
Sistema Asia Fund
"Technology has been the back bone of all we do at Lendingkart Group as we constantly innovate towards
a more seamless and automated loan disbursal process." - Harshvardhan Lunia
Tagline
Think Cash, Think
Lendingkart Group!
Located
India
Year Founded
2014
Key People
Harshvardhan Lunia (CEO/
Co-Founder), Mukul Sachan
(COO/Co-Founder)
Website
www.lendingkart.com
Category
Lending
Ownership
Private
Rank Last Year
23
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
4545
34
Xapo
Company Description
Xapo allows users to purchase, exchange, manage, store
and deploy their bitcoins. The product, Xapo Wallet,
is a way to manage and hold daily spending while the
Xapo Vault safely keeps all the stored bitcoins. This is
compelling for the target group as the Xapo Wallet has
zero fees, cross-border access, timeliness and can be
directly connected to the Xapo Debit Card (the first
bitcoin debit card in the world). Data stored remains
secure, encrypted, segregated and backed up with
external drives and paper.
Notable Investors
Fortress Investment Group, Benchmark, Index Ventures,
Greylock Partners
Tagline
Bitcoin Wallet & Vault
Located
Switzerland
Year Founded
2014
Key People
Wences Casares (CEO/
Founder), Federico Murrone
(COO/Founder)
Website
www.xapo.com
Category
Digital Currencies
Ownership
Private
Rank Last Year
28
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"If we all do our jobs well, anyone in the world should be able to get bitcoins and to freely keep, send, or use
them without relying on intermediaries." - Wences Casares
46
35
Viva Republica
Company Description
Viva Republica Co Ltd. develops social networking
applications. Viva Republica's key mobile application
called "Toss" offers fund transfer and payment services
via a P2P model, directly serving consumers and
merchants. Before Toss, users required five passwords
and around 37 clicks to transfer $10. With Toss, users
need just 1 password and three steps to transfer up to
KRW 500,000 ($430).
Notable Investors
Altos Ventures, KTB Network, Qualcomm Ventures,
Goodwater Capital, Partech Ventures, Bessemer Venture
Partners, PayPal, Tekton
"There's a tendency in Korea for vertical markets to consolidate to one or two top players. To dominate
our market position we will be rapidly developing and rolling out complimentary financial services for
mobile that have been proven in other markets." - SeungGun Lee
Tagline
The simplest remittance
Located
Korea
Year Founded
2013
Key People
SeungGun Lee (CEO/
Founder)
Ventures
Website
www.toss.im
Category
Payments
Ownership
Private
Rank Last Year
New to the list
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
4747
36
WeLab
Company Description
WeLab's mission is to innovate traditional credit services in
order to better serve consumers with a cheaper, faster and
more hassle-free way of borrowing money. WeLab's lending
platforms are powered by WeDefend, the company's
proprietary risk management technology, which combines
machine learning, big data technologies, and unstructured
data to deliver a streamlined risk management and
customer experience. The company acts as a platform for
users to apply for credit using their mobile phones.
Notable Investors
Access Industries, Sequoia Capital, Shou Zi Chew,
ICONIQ Capital, Yuri Milner, TOM Group Limited, Ule,
Lakestar, ING Group, Guangdong Technology Financial
Group, Khazanah Nasional, ING Bank
"I sought to empower our customers with faster, cheaper and more convenient access to financial
services. To do so, we created a mobile lending experiences which allows customers to obtain access to
credit through a few simple taps on their personal mobile devices." - Simon Loong
Tagline
We are building something
revolutionary
Located
China
Year Founded
2013
Key People
Simon Loong (CEO/Co-
Founder), Kelly Wong (COO/
Co-Founder)
Website
www.welab.co
Category
Lending
Ownership
Private
Rank Last Year
33
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
48
37
zipMoney
Company Description
zipMoney is a credit provider with a point-of-sale offering
that eliminates the conventional need for cash or credit
cards. An interest-free period of at least 3 months is
attractive, simple and convenient for users.
Notable Investors
Victory Park Capital, FIIG Securities, National Australia
Bank, Westpac
Tagline
Buy now, pay later. Interest
free. Up to $10,000
Located
Australia
Year Founded
2013
Key People
Larry Diamond (CEO/MD)
Website
www.zipmoneylimited.com.au
Category
Payments
Ownership
Public
Rank Last Year
New to the list
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"We'd love to partner with all the banks where we see it makes sense. For us, our ambitions are much
more broad. They are really around the full suite of financial services products for millennials. But at the
same time, the banks are sitting on great infrastructure that we can access." - Larry Diamond
4949
38
Rong360
Company Description
Rong360 provides financial searches of financial
products to consumers and small businesses as China's
leading financial vertical search platform. The business
offers recommendation and application services,
business scope cover loans, credit cards and financial
management in a convenient, safe and cost-effective
manner. Rong360 is free for the user and holds presence
in Beijing.
Notable Investors
Qunar.com, Chenchao Zhuang, Zero2IPO Ventures,
Kleiner Perkins Caufield & Byers, Sequoia Capital,
Lightspeed Venture Partners, Pavillion Capital, StarVC, YF
Capital, Sailing Capital
"The '360' in the name refers to the commitment to provide users a 360-degree, all-around financial
information platform." - Ye Daqing
Tagline
Financial product research
and recommendation
to consumers and micro
companies
Located
China
Year Founded
2011
Key People
Ye Daqing (CEO/Co-
Founder), Lujia Yan (VP
Operations and Banking
Relation/Co-Founder),
Liucao Feng (VP Product
Technology/CoFounder)
Website
www.rong360.com
Category
Lending
Ownership
Private
Rank Last Year
34
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
50
39
Future Finance
Company Description
Future Finance allows undergraduate and postgraduate
students to obtain loans in Europe, valued between
2,000 to 40,000 which can be repaid over a period
of up to 5 years. Funds are released within 24 hours.
The funding arrangement assists students in paying for
tuition and living expenses.
Notable Investors
Blackstone, Battery Ventures, Ridge Road Partners,
KCK, QED Investors, Colchis Capital Management, Invus
Opportunities, Fenway Summer Ventures, 1/0 Capital,
DW Healthcare Partners
Tagline
Loans for Students
Located
Ireland
Year Founded
2013
Key People
Alex King (CEO)
Website
www.futurefinance.com
Category
Lending
Ownership
Private
Rank Last Year
New to the list
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"Future Finance has experienced phenomenal success and has huge potential to continue to grow. I am
excited to be joining such a great team and a fast-growing, consumer-friendly business that is focused on
ensuring that deserving students get the education they need." - Alex King
5151
40
Coinbase
Company Description
Launched in 2012, Coinbase enables digital currency
transactions between traders, consumers and merchants
via an online platform. The company's mission is to create
a globally accessible, open financial system. By allowing
individual bitcoin wallets and enabling connected bank
accounts, Coinbase ensures an improved buying and
selling experience. The platform also offers a range of
payment processing options that can manage high traffic
levels on the internet.
Notable Investors
Y Combinator, FundersClub, SV Angel, Union Square
Ventures, Digital Currency Group, Andreessen
Horowitz, Union Square Ventures, Valor Capital Group,
Propel Venture Partners, New York Stock Exchange,
Reinventure Group
"We've become a core piece of infrastructure in this industry, and we need to scale with it as it grows. This
solid foundation will allow digital currency to keep growing and help create the next wave of adoption."
- Brian Armstrong
Tagline
Buy and Sell Digital Currency
Located
United States
Year Founded
2012
Key People
Brian Armstrong (CEO/Co-
Founder), Fred Ehrsam (Co-
Founder)
Website
www.coinbase.com
Category
Digital Currencies
Ownership
Private
Rank Last Year
47
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
52
41
League
Company Description
League revolutionises health insurance into an innovative,
digital solution by providing options to tailor health-related
accounts on a streamlined mobile platform. Users can
manage their health expenditures, insurance, appointment
bookings, and seek professional help or support from
advisors. The mobile platform facilitates a marketplace to
allow an efficient means of finding and verifying high quality
health professionals by a number of metrics, such as price,
reviews, ratings and location.
Notable Investors
Foundation Capital, Real Ventures, OMERS Ventures,
Infinite Potential Technologies, BDC, Royal Bank of Canada
Tagline
The digital alternative
to traditional healthcare
insurance
Located
Canada
Year Founded
2014
Key People
Michael Serbinis (CEO/Co-
Founder), Dan Leibu (COO/
Co-Founder), Todd Humphrey
(CCO/Co-Founder), Dan
Galperin (CTO/Co-Founder)
Website
www.league.com/toronto
Category
Insurance
Ownership
Private
Rank Last Year
36
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"I've heard, 'Oh, this looks impossible, what are you thinking?' To me, that's a signal that I might be on the
right track."- Michael Serbinis
5353
42
Pushpay
Company Description
Pushpay provides engagement solutions that enable
meaningful connections and mobile commerce tools
that facilitate fast, secure and easy non point of sale
payments. Pushpay provides convenient, personalised
and intuitive engagement and payment solutions to the
faith sector, not-for-profit organisations and education
providers.
Notable Investors
Christopher & Banks, Alliance Equities
"You could have the best product in the world, but without the right people to build it and sell it, it is
worthless." - Chris Heaslip
Tagline
A complete giving and
engagement solution.
Located
New Zealand
Year Founded
2011
Key People
Chris Heaslip (CEO, Executive
Director and Co-founder),
Eliot Crowther (Sales,
Executive Director and Co-
founder)
Website
www.pushpay.com
Category
Payments
Ownership
Public
Rank Last Year
New to the list
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
54
43
CompareEuropeGroup
Company Description
CompareEuropeGroup operates an online comparison
platform for financial, telco and utility products across
Europe. The company uses machine learning and other
algorithms to sort through, and search for, the best deals
for a particular service in real time, based on parameters
entered by the consumer.
Notable Investors
Nova Founders Capital, Pacific Century Group,
Peter Thiel, Mark Pincus, ACE & Company, SBI Asset
Management, CoCoon Ignite Ventures
Tagline
Europe's Leading Financial
Marketplace
Located
London
Year Founded
2015
Key People
Antonio Gagliardi (MD),
Georgy Egorov (CFO)
Thomas Munk (Co-Founder)
Website
www.compareeuropegroup.
com
Category
Insurance
Ownership
Private
Rank Last Year
New to the list
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"We help users get a tailored result based on their profile and needs, as well as help them actually buy the
product and manage it over time. Hence, the difference is in the approach to the customer needs, and
the related data-driven technology that sits behind it." - Thomas Munk
5555
44
AfterPay Touch
Company Description
AfterPay provides simple instalment plans for online
shopping users with an option to spread purchases
across four equal instalments. Customers fill in their
payment details using Afterpay and the products are
dispatched directly to the customer from the merchant.
Afterpay offers the option to view and manage payment
schedules as well as pay in advance before deadlines.
Notable Investors
Not stated
"In any business it is imperative to listen to your customers and to provide exceptional customer service
our customers are our biggest advocates because we developed a service that is unashamedly
customer-centric and puts their interests first."- Nick Molnar
Tagline
Shop Now. Pay Later. In 4
Simple Instalments.
Located
Australia
Year Founded
2014
Key People
Nick Molnar (MD/Co-
Founder), Anthony Eisen
(Executive Chairman/Co-
Founder)
Website
www.afterpay.com.au
Category
Payments
Ownership
Public
Rank Last Year
Emerging company
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
56
45
Lendix
Company Description
Lendix assists private, professional and institutional
investors in achieving attractive returns, and helps SMBs
seek simple and efficient funding options beyond the
traditional offers from banking institutions. Upon project
approval and interest rate determination, a project is
submitted to a platform for investors to access. The
average time for financing completion is less than 10
days. Repayments (including interest and capital) are
made monthly on the investor's Lendix Account once a
project is complete.
Notable Investors
Partech Ventures, Marc Menase, Christian Gueugnier,
Weber Investissement, Zencap, Matmut, Decaux Freres
Investissement, Sycomore Factory, CNP Assurances
Tagline
The #1 Lending Marketplace
in France
Located
France
Year Founded
2014
Key People
Olivier Goy (Chairman/CEO)
Website
www.en.lendix.com
Category
Lending
Ownership
Private
Rank Last Year
32
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"In addition to retail and institutional investors, we are now seeing leading public institutions join us in
support of the real economy" - Oliver Goy
5757
46
LendingClub
Company Description
LendingClub is an online marketplace connecting
borrowers and investors, facilitating personal loans,
business loans, and financing for elective medical
procedures and K-12 education and tutoring. They use
technology to operate a credit marketplace at a lower
cost than traditional bank loan programs, passing the
savings on to borrowers in the form of lower rates and to
investors in the form of solid returns.
Notable Investors
Norwest Venture Partners, Silicon Valley Bank,
Foundation Capital, Union Square Ventures, Kleiner
Perkins Caufield & Byers, Foundation Capital, T.Rowe
Price, BlackRock
"We have demonstrated the power of the LendingClub marketplace model to generate attractive, risk
adjusted returns to investors," - Scott Sanborn
Tagline
Better Rates. Together.
Located
United States
Year Founded
2007
Key People
Scott Sanborn (CEO/
President)
Website
www.lendingclub.com
Category
Lending
Ownership
Public
Rank Last Year
26
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
58
47
Kueski
Company Description
Kueski is a Latin American micro-lending service, driven
by a team with big data and analytics backgrounds.
Users can request for small loans via online applications,
outlining the quantum of money required and the time
required for repayments. Kueski utilises information
around a user's credit history, their social assessment
and other online data to develop a more holistic credit
risk model that can decide within a short period of time
whether the loan application should be accepted or
rejected. Once loan approvals are granted, wire transfers
will immediately take place.
Notable Investors
Core Ventures Group, Ariel Poler, Angel Ventures,
CrunchFund, GAIN, Sobrato Family Foundation, Endeavor
Catalyst, VARIV Capital, Rise Capital, Core Ventures
Group, Auria Capital, Richmond Global Ventures, Victory
Park Capital
Tagline
Instant personal loans
Located
Mexico
Year Founded
2012
Key People
Adalberto Flores (CEO),
Leonardo de la Cerda (Co-
Founder)
Website
www.kueski.com
Category
Lending
Ownership
Private
Rank Last Year
38
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"If it's a short-term loan, we can build an underwriting model very, very fast, in 60 days, you know who paid
you back and who didn't, and you can use that [information] to expand to other products in the future."
- Adalberto Flores
5959
48
GuiaBolso
Company Description
GuiaBolso empowers users in Brazil to better control and
understand their financial health and well-being. With an
approach towards automation, the company has adopted
a solution to personal finance management which can
assist customers on their path to financial freedom and
improve their relationship with money. Their app links
customers bank accounts, creates transparency for
banking transactions, builds and categorises goals and
manages them on an automatic basis. Customers also
have the option to alter, remove and grow their accounts
to control cash expenditures.
Notable Investors
Carlos Curioni, e.Bricks Ventures, Valor Capital Group,
Daniel Martins, Florian Otto, Kaszek Ventures, Ed Baker,
Omidyar Network, Peter Kellner, QED Investors, Mark
Goines, Ribbit Capital.
"From the beginning of GuiaBolso, our goal has always been to offer the best solutions to help Brazilian
consumers improve their financial well-being." - Benjamin Gleason
Tagline
You own your money
Located
Brazil
Year Founded
2012
Key People
Benjamin Gleason (Co-CEO/
Co-Founder), Thiago Alvarez
(Co-CEO/Co-Founder)
Website
www.guiabolso.com
Category
Lending
Ownership
Private
Rank Last Year
Emerging company
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
60
49
iwoca
Company Description
iwoca enables short-term financing solutions to SMEs
with a focus on a number of key geographies: the UK,
Poland, Spain and Germany. Flexible credit options are
available across Europe with the technology to eliminate
complexities and costs associated with traditional
business finance. Instant decision making processes, zero
upfront fees, concise forms and flexible commitments add
to iwoca's value proposition. The company's revolutionary
risk model is capable of understanding any small business
based on its trading data.
Notable Investors
Beyond Digital Media, Talis Capital, Global Founders
Capital, Redline Capital, CommerzVentures GmbH, Acton
Capital Partners, Prime Ventures, Shawbrook Bank, Neva
Finventures
Tagline
Fast, flexible and fair small
business loans
Located
London
Year Founded
2011
Key People
Christoph Rieche (CEO/Co-
Founder)/James Dear (CTO/
Co-Founder)
Website
www.iwoca.co.uk
Category
Lending
Ownership
Private
Rank Last Year
Emerging company
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"Traditional banks have not been able to offer small businesses the capital they need to grow despite
tremendous government support, companies like ours moved in to fill this funding gap and have built
sophisticated technology that enables faster and more efficient decision making." - Christophe Rieche
6161
50
Robinhood
Company Description
Robinhood revolutionises the notion of investing in
today's stock market with the philosophy to provide
equal opportunity to everyone. Driven by a mission to
inspire the next generation of investors, Robinhood
enables users with a zero commission model to transact
US stocks and ETFs. By slimming down the investment
process and removing excessive brokerage costs, all
users can access the financial markets.
Notable Investors
Index Ventures, Tim Draper, Andreessen Horowitz,
Snoop Dogg
"Our mission is to make financial services more accessible to more people." - Baiju Bhatt
Tagline
Free Stock Trading
Located
United States
Year Founded
2013
Key People
Baiju Bhatt (Co-Founder),
Vladimir Tenev (Co-Founder),
Nate Rodland (COO)
Website
www.robinhood.com
Category
Brokerage
Ownership
Private
Rank Last Year
New to the list
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
62

AdviceRobo
Company Description
With clients across the UK, Holland and Spain,
AdviceRobo works with a team of finance, artificial
intelligence, behavioural science and software
development experts to deliver a psychometric credit
scoring and risk reduction platform. The software
leverages machine learning in a SaaS environment to use
deep scientific knowledge to apply psychographics to
scoring models.
Tagline
Advanced scoring and
predictive analytics to
improve lending and insurance
Located
Netherlands
Year Founded
2013
Key People
Diederick van Thiel (CEO),
Rosali Steenkamer (CCO)
Website
www.advicerobo.com
Category
Wealth
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"New technologies like machine learning, biometry and block chain have entered the financial industry
and will impact the banking battle on cost/income big time!" - Diederick van Thiel
6363

AimBrain
Company Description
AimBrain uses a patent-pending, context-based
authentication methodology which leverages biometrical
engineering to assist in securitising identification
processes between financial institutions and their mobile
banking users.
Notable Investors
Charles Songhurst, Simon Rozas, Chris Mairs, Episode 1,
BGF Ventures, Entrepreneur First, Peter Reynolds, CyLon
(Cyber London)
"The new systems enable AimBrain to develop a more detailed mathematical construct of each user;
how they look, sound or behave across a broad range of settings and helps our systems recognise users
across a range of settings with greater accuracy." - Alesis Novik
Tagline
Simply Smarter
Authentification
Located
United Kingdom
Year Founded
2014
Key People
Alesis Novik (Co-Founder),
Andrius Sutas (Co-Founder)
Website
www.aimbrain.com
Category
Cyber Security
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
64

Airwallex
Company Description
Airwallex builds payment technology built for scale with
a set of flexible API based products covering foreign
exchange to payments. They facilitate cross-border
transactions by offering secure payments; allowing
customers to fix exchange rates for each transaction to
reduce currency exchange volatility.
Notable Investors
Tencent Holdings, Sequoia China, MasterCard, Gobi
Ventures, Huashan Capital, Gravity VC
Tagline
International Payments,
Simplified
Located
Australia
Year Founded
2015
Key People
Lucy Yueting Liu (Co-founder
and COO), Jack Zhang (Co-
founder and CEO), Jacob Dai
(Co-founder and CTO)
Website
www.airwallex.com
Category
Fintech
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"Our mission is to bring innovation worthy of our era to international payments, so that businesses can
transact across borders with ease. Armed with a growing number of licenses and partnerships across
numerous jurisdictions, we aim to make international payments as low-cost and efficient as domestic
payments." - Jack Zhang
6565

Alan
Company Description
Founded in 2016, Alan is Europe's first digital health
insurance company. Alan's company mission is to
radically transform the way individuals manage their
health, by simplifying the complexities of health care
administration and enabling greater access to data
insights, price transparency and preventative therapies.
Currently, it offers a fast and simple health insurance
sign-up process, real-time reimbursement and fully
digitised interactions.
Notable Investors
CNP Assurances, Power Financial Corporation, Partech
Ventures, Skywood Capital
"Most people see health insurance as a necessary evil, with institutions they can not trust, instead of
associating with an incredible user experience. We want to change that, and help people take control of their
health. We want to bring the best of technology to health for an optimal experience." Jean-Charles Samuelian
Tagline
We are Alan, simple health
insurance. A top cover, ultra
simple to use.
Located
France
Year Founded
2016
Key People
Charles Gorintin (CTO and
Cofounder), Jean-Charles
Samuelian (CEO and
Cofounder)
Website
www.alan.eu
Category
Insurance
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
66

AutoGravity
Company Description
Based in Irvine, California, AutoGravity's team of
international digital natives and auto-industry experts
is seeking to disrupt the car industry. The platform
operates in partnership with international financial
institutions to return control and power to individuals
seeking finance, as well as connecting buyers to trusted
car dealerships.
Notable Investors
VW Credit, Daimler Financial Services, DA Investments
Co LLC
Tagline
Finance Your Next Car in
Minutes
Located
United States
Year Founded
2015
Key People
Nick Stellman (COO), Andy
Hinrichs (CEO)
Website
www.autogravity.com
Category
Lending
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"Before you even set foot in the dealership, Autogravity equips you with the money you need and that
allows you to negotiate the right price with the dealer when you engage at the dealership." - Andy Hinrichs
6767

Banqer
Company Description
Founder in 2015, Banquer is a financial education
platform currently used by 40,000 children worldwide,
who use the software to practice money management
across activities such as income, tax, property
investment and superannuation. Feedback is monitored
and provided to teachers, with the aim of ensuring
children become equipped to navigate the future
financial landscape.
"I'm a firm believer that when it comes to money, knowledge is power. Banqer's aim is to arm young people with
the skills they need to make smart and informed financial choices as adults... If we do that, we think we'll make
strong in-roads at reducing inequality, crippling debt, and poverty in New Zealand and worldwide." - Kendall Flutey
Tagline
Bring financial education
to life in your class
Located
New Zealand
Year Founded
2014
Key People
Kendall Flutey (Founder)
Website
www.banqer.co
Category
EdTech
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
68

Borrowell
Company Description
Borrowell is tackling Canada's $1.5 trillion consumer
lending market by automating the traditional loan
application process. Its platform generates a personalised
loan quote based on a 60-second application form. In
partnership with Equifax Canada, Borrowell launched a free
credit score service in June 2016 and saw requests from
100,000 Canadians in the following three months. They are
currently expanding beyond their core loan business into
a consumer finance hub and ventures through strategic
financial institution partnerships.
Notable Investors
Portag3 Ventures, Equitable Bank, White Star Capital,
FirstOntario Credit Union, Concentra Bank, Adam
Felesky, Power Financial Corporation, Oakwest
Corporation
Tagline
Personal Loans And Credit
Scores. Borrowell Makes
Them Fast, Fair and Friendly.
Located
Canada
Year Founded
2014
Key People
Andrew Graham (CEO),
Eva Wong (COO)
Website
www.borrowell.com
Category
Lending
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"In just over two years since our launch, we've experienced tremendous growth, centered around our
mission of helping consumers make great decisions about credit... Over three hundred thousand
Canadians have used Borrowell to learn their credit score or check their rate on a loan." - Andrew Graham
6969

Bud
Company Description
Based in the UK, Bud leverages API connections to link
financial products within a complete system, so as to
provide financial institutions with a flexible white-label
product. The services allows users to combine accounts
and get personalised insights from a single source.
Notable Investors
Banco Sabadell, Investec
"We have lost that personal touch with banking. We're trying to get that back. It's an app that works with
all the providers, but it's also mine, my tool which advises me" - Edward Maslaveckas
Tagline
Plug and play financial
services platform
Located
United Kingdom
Year Founded
2015
Key People
Edward Maslaveckas (CEO),
George Dunning (CTO)
Website
www.thisisbud.com
Category
Data and Analytics
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
70

Capital Float
Company Description
Capital Float provides working capital loans to small
businesses with the aim of increasing SMEs' access to
credit, collateral-free terms and trustworthy partners.
The online platform targets SMEs in India who are able
to receive funds in 3 days following an online application
process and easy term-selection.
Notable Investors
Sequoia Capital, SAIF Partners, Aspada, IFMR Capital,
Creation Investments
Tagline
Timing makes all the
difference.
Located
India
Year Founded
2012
Key People
Sashank Rishyasringa (Co-
founder, Managing Director),
Gaurav Hinduja (Co-founder,
Managing Director), Rajesh
Viswanathan (CFO), Rohan
Angrish (CTO)
Website
www.capitalfloat.com
Category
Lending
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"We believe new age Fintech companies and established financial institutions need not compete, but can
collaborate to widen the financing options available for SMEs." - Sashank Rishyasringa
7171

TapPay
Company Description
TapPay is currently working with 10 major banks in Taiwan
to improve the customer experience when processing
payments online. The software provides a plug-and-
play API for developers to integrate into customisable
webpages, and is targeting scam reduction with a fraud
detector tool. TapPay currently processes millions of
transactions per month and is looking to Hong Kong and
Singpore for expansion in 2018.
"Many pseudo-card groups use VPN as a springboard to trade, but TapPay knows user actions, such
as basic information at the time of purchase, transaction history, the IP address of the transaction, the
computer used in the transaction." - Steven FJ Chuang
Tagline
Our mission is to perfect
the payment card checkout
process, showcasing a
cashless future to the entire
world.
Located
Taiwan
Year Founded
2015
Key People
Steven FJ Chuang (CEO/
Founder)
Joseph ZL Liao (CTO/
Founder)
Website
www.tappaysdk.com
Category
Payments
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
72

Clark Germany GmbH
Company Description
Clark combines artificial intelligence and machine learning
with human experts to analyse customers' unique details
and provide customised insurance recommendations.
The company has developed a Bancassurance-API that
seeks to increase its customers' financial literacy and
understanding of their insurance situation.
Notable Investors
Finleap, SevenVentures, Axel Springer (through media
investments), yabeo Capital, Kulczyk Investments,
HitFox, TA Ventures, Tenderloin Ventures, GMPVC
Tagline
Insured, As It Should Be
Located
Germany
Year Founded
2015
Key People
Dr. Christopher Oster (CEO),
Mr. Steffen Glomb (CTO), Mr.
Marco Adelt (COO)
Website
www.clark.de
Category
Insurance
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"Most customers don't have transparency about their insurance situation. Clark offers its customers a
smartphone app which allows them to digitally manage their insurance contracts. With the assistance of
an insurance-cockpit, customers learn about their 'insurance fitness'." - Dr. Christopher Oster
7373

Cover Genius
Company Description
With offices in Austin, London and Sydney, Cover
Genius is the parent company of RentalCover.com
and BrightWrite. The company is one of the world's
fastest growing Insurtech startups, using its platforms
to dynamically generate policies based on customers'
specific data points. Cover Genius currently helps
customers increase annual recurring revenue and expand
ancillary streams through its API which matches policies
and underwriters.
Notable Investors
Jim Sutcliffe (Chairman, Sunlife Canada; CVC Private Equity)
"Cover Genius' vision is to be the distributor of insurance to the world's top internet companies... Our
primary focus on learning and development helps ensure we're top of the charts for the insurance
industry, but most importantly our partners keep improving." - Chris Bayley
Tagline
We optimize your insurance
price, product & promotion
with Machine Learning and AI
Located
Australia
Year Founded
2014
Key People
Angus McDonald (Head of
Partnerships/Co-founder),
Chris Bayley (CEO and
Head of New Products/Co-
Founder)
Website
www.covergenius.biz
Category
Insurance
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
74

CoverWallet
Company Description
CoverWallet uses data and machine learning to simplify
insurance for small businesses by improving customers'
experiences in taking out an insurance policy that
matches their needs. It services firms operating across
a range of industries, including agriculture, consulting,
education, healthcare, food, manufacturing, mining and
real estate.
Notable Investors
Foundation Capital, Union Square Ventures, Index
Ventures, CV Starr, and Two Sigma Ventures
Tagline
Commercial Insurance for
your Business
Located
United States
Year Founded
2015
Key People
Inaki Berenguer (CEO/Co-
Founder), Rashmi Melgiri
(COO/Co-Founder)
Website
www.coverwallet.com
Category
Insurance
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"Today, there exists a unique opportunity to reinvent it by focusing on the CoverWallet principles of
simplification and transparency, leveraging analytics, and, ultimately reducing friction... We are on a
mission to use technology to democratize hassle-free access to business insurance." - Inaki Berenguer
7575

Creamfinance
Company Description
Creamfinance aims to simplify online borrowing by
automating one-click loans. Its platform uses algorithms
and machine-learning to evaluate credit risk based on
data assessment from traditional sources. It has quickly
become one of Europe's fastest growing fintech firms,
having minimised non-performing loan balances to under
5% (in comparison to a 10-15% industry average).
Notable Investors
Capitec Bank, Flint Capital
"From the very beginning of our business we realized that we need to grow in order to have a higher reach
and bigger impact. Growth and expansion are in the DNA of our business and international expansion
allowed us for higher and more impactful reach." - Matiss Ansviesulis
Tagline
We make money available
Located
Poland
Year Founded
2012
Key People
Matiss Ansviesulis (Co-CEO),
Dvis Barons (Co-CEO)
Website
www.creamfinance.com
Category
Lending
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
76

Cuvva
Company Description
Cuvva provides short term, flexible car insurance to a
range of consumer groups, including individuals and taxi-
drivers. Policies range in duration from 1 hour to 28 days
based on a separate comprehensive policy which does
not affect the owners' no-claims bonus.
Notable Investors
Tekton Ventures, Techstars Ventures, Seedcamp,
Nick Hungerford (founder of Nutmeg) and Ian Hogarth
(founder of SongKick)
Tagline
Car insurance for an hour, a
day, a week, whatevva.
Located
United Kingdom
Year Founded
2014
Key People
Freddy Macnamara (CEO/Co-
Founder), James Billingham
(CTO/Co-Founder)
Website
www.cuvva.com
Category
Insurance
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"It was ridiculous that I couldn't borrow a car for an hour, because of the difficulty of getting short-term
cover. I could order an Uber or a Deliveroo to my house, but I couldn't buy insurance for a short period
quickly. " - Freddy Macnamara
7777

Flutterwave Inc
Company Description
Flutterwave currently operates in over 36 African
countries, providing payments technology and
infrastructure to the continent's largest financial
institutions. The technology is empowering individuals
and businesses to accept online and offline payments
and driving growth in communities traditionally cut off
from the digital economy.
Notable Investors
Green Visor Capital, Omidyar Network, Social Capital,
Khosla, Greycroft Partners, Glynn Capital Management,
HOF Capital, Y Combinator, Rayyan Islam, Arab Angel
Fund, Zillionize Angel, Lynett Capital, VC Fintech
Accelerator, CRE Venture Capital
"We are building a platform for all institutions that are trying to build payment, into their value chain and
provide a platform that we can all innovate. We want to build technology, and infrastructure that is safe for
the consumers, the ecosystem and flexible enough for everybody to use." - Iyinoluwa Aboyeji
Tagline
Modern payments
infrastructure to power
Africa's digital economy.
Located
Nigeria
Year Founded
2016
Key People
Iyinoluwa Aboyeji (Founder)
Website
www.flutterwave.com
Category
Payments
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
78

GrassRoots Bima
Company Description
GrassRoots Bima has quickly become one of Africa's
most innovative insurtech companies, seeking to
promote financial inclusion by matching customers
with microinsurance products. Currently, its market-
facing SaaS platform, WazInsure, allows individuals
to track their insurance policies in a single place so
as to increase the simplicity, transparency and cost-
effectiveness of insurance.
Tagline
Innovation. Inclusion.
Insurance.
Located
Kenya
Year Founded
2016
Key People
Winnie Badiah (CEO), Martin
Wambugu (CTO)
Website
www.grmicroinsurance.com
Category
Insurance
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"This will be not just an opportunity to heighten profitability, but a real chance for insurers to build and
retain trustworthy relationship with customers. Underwriters are aware of the disruptions and changes
facing their industry, the transformational impact of which is now evident." - Winnie Badiah
7979

Hyper Anna
Company Description
Hyper Anna is an artificial intelligence-powered data
analyst that produces data analytics in the form of
written code, charts and insights about key business
drivers. The company is seeking to disrupt the data
science market by providing simplified and timely
strategic insights, and focuses on providing this service
in the financial services sector.
Notable Investors
Sequoia Capital, AirTree Ventures, IAG Ventures,
Reinventure Group
"Machines have historically struggled with understanding true intention in conversation. These nuances,
which humans describe as 'reading between the lines', are incredibly important in a business context...
Anna allows you to communicate as if you were speaking to a colleague." - Natalie Nguyen
Tagline
Artifical Intelligence for
Analytics
Located
Australia
Year Founded
2016
Key People
Natalie Nguyen (CEO/Co-
Founder), Sam Zheng (CTO/
Co-Founder)
Website
www.hyperanna.com
Category
Data and Analytics
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
80

IbanFirst
Company Description
Founded in 2016, iBanFirst is an online multi-currency
platform which operates in competition with major
banks to provide entrepreneurs with a simplified
financial operations management system. The system
provides exchange rates in real time in addition to
simplifying the payments process for companies
operating across boarders.
Notable Investors
Xavier Niel
Tagline
Better banking services
Located
Belgium
Year Founded
2012
Key People
Pierre-Antoine Dusoulier
(CEO/Founder), Patrick
Mollard (COO), Laurent
Maluski (CTO)
Website
www.ibanfirst.com
Category
Digital currencies
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"By moving forward on this project, we have become the first payment institution to have the ability to
create iBans on the fly. Beyond the cross-border payment component, we realized that it was possible to
develop a range of online banking services based on the iBan." - Pierre-Antoine Dusoulier
8181

iyzico
Company Description
Founder in 2013 in Istanbul, iyzico provides online
companies with a secure payment management system.
The local payment service provider (PSP) enables small
businesses to integrate payment instalment options,
loyalty features and a transparent settlement process.
Notable Investors
Amadeus Capital Parters, International Finance
Corporation (IFC), 212, Vostok Emerging Finance,
Endeavour Catalyst, Speedinvest, 212, Pachicle Invest
"Our goal is to become the Stripe of the region Having become the leading payment solution for online
businesses and enterprises in Turkey, Iyzico is enthusiastic to take its technology global."
- Barbaros zbugutu
Tagline
Expand your Business Start
Selling in Turkey
Located
Turkey
Year Founded
2013
Key People
Barbaros zbugutu (CEO/
Co-founder), Tahsin Isin
(CTO/Co-founder)
Website
www.iyzico.com
Category
Payments
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
82

Kensho
Company Description
Kensho is a data analytics and machine learning company
which uses technology to service government and
commercial institutions seeking to process large data
sets to create solutions to real-world issues. The team
come from a range of backgrounds, including seven
members of the original Apple iPhone engineering team,
PhD physcicsts and Quantum Computing PhDs.
Notable Investors
JP Morgan Chase, General Catalyst, Morgan Stanley,
Citigroup, Goldman Sachs, Breyer Capital, Wells Fargo
& Company, Bank of America Merrill Lynch, S&P Global,
FinTech Sandbox
Tagline
Global Analytics. Technology
that brings transparency to
complex systems.
Located
United States
Year Founded
2013
Key People
Daniel Nadler (CEO/Co-
founder), Peter Kruskall (CTO/
Co-founder)
Website
www.kensho.com
Category
Data and Analytics
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"While a search engine can only find pages with existing analyses, Kensho can generate original answers
by analyzing relationships between events, including natural disasters, political developments, corporate
earnings announcements, product launches and FDA drug approvals." - Daniel Nadler
8383

KredX
Company Description
KredX is a double-sided market place that matches SMEs
seeking easy-access to working capital with investors
looking for an above-average yield on short-term
investments. Its Online Bill Discounting platform enables
businesses to sell unpaid invoices at a discount to
investor networks comprising HNIs, family offices, funds
and banks.
Notable Investors
Sequoia Capital, Prime Venture Partners
"There are 36 million SMEs in India. Many of these often struggle to keep their cash flow intact and
can hardly withstand the burden of late payments. They are in dire need for working capital. With our
technology platform, we are helping them get access to working capital." - Manish Kumar
Tagline
Connecting Businesses with
Investors
Located
India
Year Founded
2015
Key People
Manish Kumar (CEO/
Co-founder), Anurag Jain
(Executive Director/Co-
founder)
Website
www.kredx.com
Category
Payments
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
84

Lendify
Company Description
Based in Sweden, Lendify is an online credit marketplace
that democratises consumer credit between individuals.
By removing traditional financial institutions from the
traditional lending relationship, Lendify can provide
credit at a low cost to borrowers and facilitate higher
returns for investors.
Notable Investors
Back in Black, Jonas Nordlander, Filip Engelbert, Eklf
Invest
Tagline
Sweden's largest marketplace
for loans
Located
Sweden
Year Founded
2014
Key People
John-Christian Eriksson
(CEO/Co-founder), Nicholas
Sundn-Cullberg (CEO/Co-
founder)
Website
www.lendify.se
Category
Lending
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"We want to streamline the market for loans and make risk-based pricing instead of cost-based."
- Nicholas Sundn-Cullberg
8585

Leveris
Company Description
Leveris is a technology company who offer a completely
modern, modular, non-legacy, SaaS banking platform that
is specifically architected to address the key challenges
facing financial institutions today. Their platform contains
(i) a full service, end-to-end digital retail bank and (ii) a
full-spectrum lending solution. It has been designed as
a cost-effective, flexible and quick-to-market platform
for traditional banks, challenger banks, or any consumer
brand who wants to enter the banking and lending space.
"The problems are apparent and that's where we're coming from. This is a system designed to address
a specific problem so the banks are definitely reaching a point where they understand the nature of the
problem - And that problem is increasing in velocity." - Conor Fennelly
Tagline
A robust, multipurpose
banking platform built with
modularity at the core
Located
Ireland
Year Founded
2014
Key People
Conor Fennelly (CEO/
Founder)
Website
www.leveris.com
Category
Banking
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
86

Lydia
Company Description
Lydia is a consumer payments system that enables
users to make payments to one another via a mobile
application. Its initial target market was college
campuses, but it has since moved to retail chains and
e-commerce platforms.
Notable Investors
Oddo & Cie, NewAlpha Asset Management
Tagline
All your payment needs - in
one app
Located
France
Year Founded
2013
Key People
Cyril Chiche (CEO), Antoine
Porte (CTO)
Website
www.lydia-app.com
Category
Payments
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"We started in France and we really focused on the millennials, the young crowd, the students on college
campuses, because they had all these needs at the same time about P2P, paying back each other,
sharing their rent, getting money from their parents. " - Cyril Chiche
8787

Macrovue
Company Description
Macrovue enables users to invest in global portfolios
which are pegged to trends such as clean tech and
water scarcity or the silver haired economy, through
thematic investing. After identifying portfolio themes
and relevant stocks, a quantitative model creates a
shortlist of relevant stocks who provide the pool from
which component investments are selected based on
fundamental research.
Notable Investors
AMP, James Goodwin, Inception Asset Management,
H2 Ventures
"At the moment we want to focus on Australia and getting it out as much as we can over here. Next year
we will look at opportunities overseas The markets in America are quite saturated, whilst with Asia there
are not that many options for consumers so there's more opportunities for startups like us." - Sid Sahgal
Tagline
The smartest way to access
global markets.
Located
Australia
Year Founded
2014
Key People
Sid Sahgal (CEO/Co-
Founder), Dev Sinha (Head
of Investment Product/Co-
Founder)
Website
www.macrovue.com.au
Category
Wealth
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
88

MoneyMe
Company Description
MoneyMe targets millennial Australians by seeking
to provide access to short term cash loans of up to
$10,000 'whenever and wherever' they are needed. The
core product offering is based on a customer-centric
value-add which prioritises innovation and financial
responsibility, balancing the speed of rapid online
approval and competitive fixed interest rates.
Notable Investors
Global Investment Fund
Tagline
Get up to $10,000 fast
Located
Australia
Year Founded
2013
Key People
Clayton Howes (CEO/
Founder)
Website
www.moneyme.com.au
Category
Lending
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"We said we were going to do something and we did it. It allowed the investment community to
understand the product and market, have confidence in our business model and that we'll stay true to
what we said we would." - Clayton Howes
8989

Moneytree
Company Description
Moneytree provides short-term consumer loans through
its mobile banking app. It consolidates bank accounts,
credit cards, digital money and loyalty points, and offers
tools to users to assist with the control and management
of their financial information.
Notable Investors
Ballie Gifford, Mizuho Capital, Hiroshima Venture Capital,
Senshu Ikeda Capital, SBI Investment, Salesforce
Ventures, Fukuoka Technology Partners, SMBC Venture
Capital, Mitsubishi UFJ Capital, SMFG
"The money that we've raised is to scale the platform, Moneytree Link, which is a bottom up connectivity
platform connecting individuals and businesses with financial institutions. We're also pleased to say that
we will be coming to the Australian market shortly." - Ross Sharrott
Tagline
One household account book
for life
Located
Japan
Year Founded
2012
Key People
Ross Sharrott (Co-Founder),
Paul Chapman (CEO/Co-
Founder), Mark Makdad (Co-
Founder), Jonathan Epstein
(Chairman)
Website
www.moneytree.jp
Category
Wealth
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
90

Neo Growth
Company Description
Neo Growth provides unsecured credit at quick
turnaround times, with flexible payment options, to SMEs
in India. The system provides PoS-based cash advances
and uses technology to monitor repayments which are
made in daily instalments.
Notable Investors
Quona Capital, IIFL, Khosla Impact, Aspada, Omidyar
Network, Social Venture Partners
Tagline
#Get business loans
Located
India
Year Founded
2012
Key People
Piyush Khaitan (MD, Co-
Founder), Dhruv Khaitan (Co-
Founder, Chairman)
Website
www.neogrowth.in
Category
Lending
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"The digital payment space is bigger than what we imagined All this means a very large market
opportunity. NeoGrowth is looking at leading this market in India." - Piyush Khaitan
9191

Neyber
Company Description
Based in the UK, Neyber creates partnerships with
employers in order to provide employees with a range
of financial management products, including salary-
deducted loans and financial education. Its clients include
UK Police Service, London City Airport, Anglian Water,
NHS Trusts and FTSE-listed firms.
Notable Investors
Henry Ritchotte, Goldman Sachs, Gal de Boissard,
Police Mutual, John Spearman, Wadhawan Global Capital
"There wasn't a real value proposition for borrowers. It was largely targeting those who could already get
loans from banks. I didn't really feel that it was a sufficient solution." - Martin Ijaha
Tagline
Taking care of the financial
wellbeing of UK employees
Located
United Kingdom
Year Founded
2014
Key People
Martin Ijaha (CEO/Co-
Founder), Ezechi Britton
(CTO/Co-Founder), Monica
Kalia (Chief of Strategy and
BDM/Co-Founder)
Website
www.neyber.co.uk
Category
Wealth
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
92

PayFit
Company Description
PayFit provides a digitisation service for HR and payroll
departments by enabling employers to manage a
range of administrative tasks such as payslips, social
statements, leave and employee benefits.
Notable Investors
Accel Partners, Xavier Niel, Otium Capital, The Family,
Oleg Tscheltzoff, Romain Cottard, The Family, Jean-
Daniel Guyot, Geoffroy Roux de Bzieux
Tagline
Paying employees has never
been easier
Located
France
Year Founded
2016
Key People
Firmin Zocchetto (CEO/Co-
Founder), Florian Fournier
(Co-Founder), Ghislain de
Fontenay (CTO/Co-Founder)
Website
www.payfit.com
Category
Payments
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"If you look at a French payslip you'll understand why we're so needed, there are around 40 lines of
technical details that most of us don't understand at all." - Firmin Zocchetto
9393

Plynk
Company Description
Plynk is a mobile payments platform which facilitates
money transfers between individuals without relying on
account numbers or code cards. The system functions
through a messaging app and leverages the use of social
media to drive growth among its millennial customers.
Notable Investors
Prive-Swiss, Enterprise Ireland, Delta Partners, NDRC
"We're localising Plynk in several languages and currencies over the next year including Spain, Portugal
and the rest of the EEA. Our growth plan is still to become a verb in every European language, grow our
team, and continue development on our core product." - Charles Dowd
Tagline
Plynk is the new messaging
app you can't afford to live
without
Located
Ireland
Year Founded
2015
Key People
Charles Dowd (Co-Founder/
CEO), Clive Foley (Co-
Founder)
Website
www.plynk.me
Category
Payments
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
94

Pockit
Company Description
Pockit targets customers who have been excluded by
incumbent financial institutions following changes in
personal or financial circumstances. An account can be
opened within minutes, and customers are provided
with an online account, contactless MasterCard and
money-management app. The company currently serves
200,000 customers and is seeking to expand its core
business offering to direct debits and micro-loans by the
end of 2017.
Notable Investors
Concentric, Belcube, Jon Moulton, Mark Newton-Jones,
Sir Alex Ferguson, Danny Jatania, Kevin Reynolds, Colin
Harris, and Stuart Middleton.
Tagline
No-nonsense banking
Located
United Kingdom
Year Founded
2014
Key People
Virraj Jatania (CEO/Co-
Founder)
Website
www.pockit.com
Category
Payments
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"By launching a low-cost remittance service Pockit is saving our customers money and providing a service
that suits their lives. We expect it to be very attractive to our core customers who find it difficult to access
conventional financial services for many reasons." - Virraj Jatania
9595

Qonto
Company Description
Qonto targets SMEs by combining a range of financial
support services with a simple bank account. The service
allows integration with SaaS providers such as Stripe,
Slack, Sage and Cegid, and enables teams to manage
transactions via their own user account. The neobank
operates fully-online and both accounts and access cards
can be managed directly from the platform.
Notable Investors
Alven Capital, Valar Ventures
"Qonto, smart banking for small businesses, is the service that allows you to open a 100% online account,
have your bank account in 5 minutes and order physical or virtual cards to intelligently track all the
expenses of the company." - Alexandre Prot
Tagline
The 100% digital business
account
Located
France
Year Founded
2016
Key People
Alexandre Prot (CEO/
Co-Founder), Steve Anavi
(President/Co-Founder)
Website
www.qonto.eu/en
Category
Banking
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
96

Raisin
Company Description
Raisin has become Europe's biggest cross-border
savings platform, enabling customers access to the
most competitive interest rates across the continent,
free-of-charge. The company is entering distribution
partnerships with a range of other fintech providers and
traditional banks to expand into investment products and
business clients.
Notable Investors
Fabrice Grinda, FJ Labs, Binomial Ventures, Index
Ventures, btov Partners, Thrive Capital, Tom Stafford, Yuri
Milner
Tagline
Raise your interest with
Europe's #1 deposit
marketplace
Located
Germany
Year Founded
2013
Key People
Frank Freund (CFO/Co-
Founder), Tamaz Georgadze
(CEO/Co-Founder), Michael
Stephan (COO/Co-Founder)
Website
www.raisin.com
Category
Financial product
marketplace
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"We provide a very straightforward and fully-online account opening process as well as a one-stop
solution to managing multiple savings accounts. Our service is transparent and there are no hidden fees
for our customers." - Tamaz Georgadze
9797

Riby
Company Description
Based in Nigeria, Riby enables cooperatives, company
groups, employees, individuals, associations, and financial
development institutions a platform to manage their
financial activities. It enables digitisation of collaborative
saving, lending and investments with the ultimate aim of
increasing financial literacy amongst individual members
of the groups. The service operates through a mobile
app, and offers features including personal savings,
cooperative savings and loan management, peer-to-
peer lending, agent management and personal and group
investment management.
"When it comes to finance, the banks cannot solve all the problems and we discovered it was a faster
route to scale." - Salami Abolore
Tagline
Healthy Finance. Better Life.
Located
Nigeria
Year Founded
2012
Key People
Salami Abolore (CEO)
Website
www.riby.me
Category
Wealth
Ownership
Private
Staff
! ! ! ! !
Size
Undisclosed
Enabler / Disruptor
 
At a Glance
98

Satispay
Company Description
Headquartered in Italy, Satispay is a mobile payments
company that operates independently from traditional
debit and credit cards to facilitate peer-to-peer
payments, as well as payments from individuals to
merchants. The system allows users to pay in physical
and online stores.
Notable Investors
Iccrea Banca, Sella Ventures, Shark Bites, Banca Etica,
Ray Iglesias, U-Start, Giuseppe Donagemma, Nicolas
Carbonari, Jonathan Weiner
Tagline
Make the smart choice when
moving your money.
Located
Italy
Year Founded
2013
Key People
Alberto Dalmasso (CEO/
Co-Founder), Samuele
Pinta (Finance Control &
Strategic Management/Co-
Founder), Dario Brignone (IT &
Organisation/Co-Founder)
Website
www.satispay.com/en
Category
Payments
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"The model that we constructed is directly linked to the interbank network allowing us to bypass all of
the intermediary payment processors that are traditionally involved with payments. This new efficiency
meant drastically reducing the costs involved in moving money." - Alberto Dalmasso
9999

Sensibill
Company Description
Sensibill is a white-label SaaS platform that targets
financial institutions seeking to improve their mobile
banking applications by providing a management
system for paper and digital receipts. The system
also generates data insights by analysing purchase
information to drive engagement with banks' other
digital products and offerings.
Notable Investors
Hedgewood, Impression Ventures, Operatie Capital, The
OpenText Enterprise Apps Fund, Ryerson Futures, Mistral
Venture Partners, Information Venture Partners, Six
Squared Capital
"Our app allows bank customers to get their receipts in a few different ways... They can take a picture
of their receipt and the app will extract and digitize the information so they can do various things like
expense specific items, as well as track returns and warranty information." - Corey Gross
Tagline
Know your customers, one
receipt at a time
Located
Canada
Year Founded
2013
Key People
Corey Gross (CEO/Founder),
Jamie Alexander (CTO/
Founder)
Website
www.getsensibill.com
Category
Banking
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
100

Sherpa
Company Description
Sherpa enables personalised insurance to be provided to
all users. The tailored insurance packages are unbiased
and trustworthy with data anlaytics used as a tool to
protect users and their families. Policies are streamlined
to remove convoluted commissions and instead, to
produce a single, consolidated account that addresses
the customer's needs and risk appetite.
Notable Investors
InsurTech.vc, Michelle Paisley
Tagline
Insurance. Now it's personal
Located
Malta
Year Founded
2016
Key People
Chris Kaye (CEO)
Website
www.justsherpa.com
Category
Insurance
Ownership
Private
Staff
! ! ! ! !
Size
Undisclosed
Enabler / Disruptor
 
At a Glance
"We have completely re-thought the way insurance has worked for hundreds of years, doing away with
the concept of the insurance 'product' and inventing a new, holistic way of underwriting risk." - Chris Kaye
101101

Silent8
Company Description
Silent8 utilises artificial intelligence, machine learning
and various technologies to address money laundering
and terrorist financing issues. By improving the due
diligence processes for banks and financial institutions,
the transparency and integrity of the financial system
can be improved. A human friendly formula is adopted
to effectively analyse complex volumes of data using
artificial intelligence. Financial institutions and banks can
see greater efficiency and productivity by cutting out the
noise around financial crimes while still ensuring critical
alerts are not missed.
Notable Investors
Crystal Horse Investment, JFDI, Wavemaker Partners
"Every time we get into production, we stop financial crime, we stop money from flowing to be used for
illegal arms purchase or to finance some terrorist activities, that's one way of being rewarded for what we
are doing." - Martin Markiewicz
Tagline
Leveraging Artificial
Intelligence Against Money
Laundering and Terrorist
Financing
Located
Singapore
Year Founded
2014
Key People
Martin Markiewicz (CEO/Co-
Founder)
Website
www.silenteight.com
Category
Cyber Security
Ownership
Private
Staff
! ! ! ! !
Size
Undisclosed
Enabler / Disruptor
 
At a Glance
102

SoCash
Company Description
SoCash addresses cash logistic issues for banks by
adding a peer to peer and social element. Every shop
is transformed into a scalable digital, cash distribution
network where users can utilise the shared economy
to improve cash circulations. SoCash bridges the gap
between the bank and customer using a mobile app as
customers have the flexibility to safely access their cash
regardless of the time or location.
Notable Investors
Monetary Authority of Singapore (MAS)
Tagline
Our mission is to solve cash
logistics for banks
Located
Singapore
Year Founded
2015
Key People
Rekha Hari (Director & Head
of Program Management/
Founder), Hari Sivan (Founder,
CEO)
Website
www.socash.sg
Category
Banking
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"We are a bunch of bankers with a passion for technology and digital innovations who found this problem
big and meaningful enough to quit our decade-old careers in global banks. Most of us are in our 30's. We
were born in different parts of the world, but our paths crossed in Singapore." - Hari Sivan
103103

Stash
Company Description
Stash empowers a new generation of diverse investors.
The product offering includes an app or online platform
that suggests a shortlisted series of investment
options complemented with advice, support and
recommendations.
Notable Investors
Coatue Management, Breyer Capital, Goodwater Capital
and Valar Ventures
"We help people who don't have a lot save money on a weekly basis Stashers look like America, they look
like people you meet every day: they are nurses and teachers and Uber and Lyft drivers." - Brandon Krieg
Tagline
Investing Simplified
Located
United States
Year Founded
2015
Key People
Edward Robinson (President/
Co-Founder), Brandon Krieg
(CEO/Co-Founder)
Website
www.stashinvest.com
Category
Wealth
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
104

ThetaRay
Company Description
ThetaRay adopts big data analytic technology
and artificial intelligence solutions to build custom
applications and solve future problems. The patented
algorithms are able to detect anomalies on a live, timely
basis which improves the accuracy of the results.
The key customer base includes financial institutions,
industrial manufacturers, aviation businesses and critical
infrastructure providers around the world. Individual users
range from data scientists to business analysts.
Notable Investors
Bank Hapoalim, Jerusalem Venture Partners (JVP),
Poalim Capital Markets, General Electric (GE)
Tagline
Fraud Prevention
Located
Israel
Year Founded
2013
Key People
Amir Averbuch (Founder),
Mark Gazit (CEO), Ronald
Coifman (Founder)
Website
www.thetaray.com
Category
Data and Analytics
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"There's a need for a company that can protect financial institutions and industrial manufacturers against
unknown threats. We solve a problem that was previously believed to be unsolvable." - Mark Gazit
105105

Tic:Toc
Company Description
Tic:Toc creates an instant, 22 minute lending experience
with holistic home loan offerings in Australia to date. The
approval process includes property valuation, real-time
assessment, ID and financial verification and home loan
documentation generation. Key partners include Bendigo
and Adelaide Bank, as they underwrite Tic:Toc home
loans. Tic:Toc provides faster, more convenient and more
cost effective options.
"Fintech is a major growth sector, both internationally and within Australia. As a proud South Australian, I
find it satisfying to launch and grow a major national fintech company from Adelaide." - Anthony Baum
Tagline
Approval, Online From Start
To Finish.
Located
Australia
Year Founded
2015
Key People
Anthony Baum (CEO/
Founder)
Website
www.tictochomeloans.com
Category
Financial Product
Marketplace
Ownership
Private
Staff
! ! ! ! !
Size
Undisclosed
Enabler / Disruptor
 
At a Glance
106

Token
Company Description
Token is an API banking platform with the philosophy
to provide an open and secure platform for instant and
safe money movements. The team is comprised of rich
experiences and backgrounds from Google, Amazon,
Apple, Microsoft, Twitter.
Notable Investors
EQT Ventures, Octopus Ventures, OP Financial Group
Tagline
Access all banks with one API
Located
United States
Year Founded
2015
Key People
Steve Kirsch (CEO/Co-
Founder), Marten Nelson
(VP Marketing/Co-Founder),
Yobie Benjamin (Co-Founder),
Todd Clyde (COO)
Website
www.token.io
Category
Banking
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"We help banks monetize the open banking opportunity and pay banks a fee on every transaction, so it's
all incremental revenue to a bank. This is a win for everyone." - Steve Kirsch
107107

Trusona Inc.
Company Description
Trusona is a leader in providing simple and secure Identity
Authentication omni-channel offerings using a cloud
identity suite. Every digital interaction is authenticated to
enhance verification and ensure safety. Trusona is a key
driver of the #NoPasswords revolution.
Notable Investors
Microsoft Ventures, Seven Peaks Ventures, Kleiner
Perkins Caufield & Byers
"Usernames and passwords are the weakest link in the cyber security chain, and every day at Trusona we
unshackle the false sense of security they've given the world." - Ori Eisen
Tagline
#NoPasswords
Located
United States
Year Founded
2015
Key People
Ori Eisen (CEO/Founder)
Website
www.trusona.com
Category
Cyber Security
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
108

Valiant
Company Description
Valiant Finance is an online broking platform for SMEs
which enables borrowers to match with lenders in
a manner of "unprecedented transparency". This
innovative method of using algorithms to conduct this
matching process creates competitive tension in the
SME online lending space and also serves as a catalyst for
disruption amongst the traditional banking market.
Notable Investors
Reinventure Group, H2 Ventures
Tagline
Help SMEs secure loans
with "unprecedented
transparency"
Located
Australia
Year Founded
2015
Key People
Richard Cotton (Co-Founder),
Alex Molloy (Co-Founder)
Website
www.valiant.finance
Category
Lending
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"Valiant is different to a lot of other online lead generator platforms because we'll always have that human
touch element to support customers when they need it." - Alex Molloy
109109

VATBox
Company Description
VATBox offers streamlined solutions for the VAT
recovery process, enabling complete visibility, compliance
and data integrity for businesses. Automation technology
and cloud platforms are used in conjunction for intelligent
and efficient processes and safe data storage and
management. VATBox enables expenditure control and
accurate recovery processes to produce accurate and
valuable returns.
Notable Investors
Viola Private Equity, Target Global, Viola Growth
"As the first and only tech player in this market, we provide fully secured and easy-to-use solutions that
maximize VAT recovery, while adding an essential compliance and governance layer that had not been
available before." - Isaac Saft
Tagline
A simple way to manage VAT
Located
Israel Y
Year Founded
2012
Key People
Noam Guzman (President/
Co-Founder), Isaac Saft
(CEO/Founder)
Website
www.vatbox.com
Category
Regtech
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
110

Wave
Company Description
Wave delivers financial services and free software
to small and micro businesses around the world. By
providing access to capital (Lending), improving cash flow
(Payments), delivering money to employees (Payroll),
helping businesses get paid (Invoicing), preparing for
tax time and providing business insights (Accounting,
Receipts), Wave covers the spectrum of a small business
owner's financial life, and helps businesses grow and thrive.
Notable Investors
Social Capital, CRV, HarbourVest Partners, Exhibition
Ventures, BDC IT Venture Fund, OMERS Ventures, NAB
Ventures, OurCrowd-Gcai, Portag3 Ventures, Royal Bank
of Canada
Tagline
Small business invoicing,
accounting and more
Located
Canada
Year Founded
2010
Key People
Kirk Simpson (CEO/Co-
Founder), James Lochrie
(Co-Founder)
Website
www.waveapps.com
Category
Accounting
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
"By embedding Wave's complete small business tools into RBC's online business banking platform, small
business owners now have one single destination to manage their financial life." - Kirk Simpson
111111

Zaveapp
Company Description
Developed in Silicon Valley and based in Mexico, Zaveapp
is a digital piggybank that is reaching international
expansion with its recent launch in France. The product
aims to assist young people achieve their financial goals
in the short run by incorporating and teaching different
saving techniques (e.g. save % of expenses, utilise group
savings or adopt automatic transfers). Today, the app
serves over 30,000 users. The business is affiliated with
MangoPay with goals to assume a leading role as the
essential finance personal manager app in Europe.
Notable Investors
Wayra
"I do not want to remain a promise, I want to prove that it is possible for startups to have a global impact
from Mexico." - Octavio Novelo
Tagline
The piggybank in your
smartphone
Located
Mexico
Year Founded
2015
Key People
Octavio Novelo (CEO/Co-
Founder), Pedro Calmell
(COO/Co-Founder)
Website
www.zaveapp.com
Category
Banking
Ownership
Private
Staff
! ! ! ! !
Size
$ $ $ $ $
Enabler / Disruptor
 
At a Glance
112
Disclaimer
The information contained in this document is of a general nature and is not intended to address the objectives, financial
situation or needs of any particular individual or entity. It is provided for information purposes only and does not constitute,
nor should it be regarded in any manner whatsoever, as advice and is not intended to influence a person in making a decision,
including, if applicable, in relation to any financial product or an interest in a financial product. Although we endeavour to
provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is
received or that it will continue to be accurate in the future. No one should act on such information without appropriate
professional advice after a thorough examination of the particular situation.

To the extent permissible by law, H2 Ventures and KPMG and their associated entities shall not be liable for any errors,
omissions, defects or misrepresentations in the information or for any loss or damage suffered by persons who use or rely on
such information (including for reasons of negligence, negligent misstatement or otherwise).

2017 H2 Ventures.

The KPMG name and logo are registered trademarks or trademarks of KPMG International.
1 | Fintech Innovators 2016
1
2016
FINTECH100
Leading Global
Fintech Innovators
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Size
$ $ $ $ $
Enabler or Disruptor
User Engagement
The 100 Leading Fintech Innovators Report
Company Description
"
Company #00
At a Glance
Tag Line
Located
Year Founded
Key People
Website
Specialisation
Key Investors
Ownership
FINTECH 100
Leading Global
Fintech Innovators
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The 50
Best Fintech
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114