SecureKey, Wealthsimple, League, Borrowell, Sensibill and Wave make Global Fintech100
Six Canadian companies were named as some of the top fintech firms around the world in the 2017 Fintech100 by KPMG Fintech and H2 Ventures.
The Canadian companies included are SecureKey Technologies, Wealthsimple, League, Borrowell, Sensibill and Wave HQ.
The 2017 Fintech100 is broken into two categories: the Leading 50, ranked based on innovation, capital raising activity, size and reach, and the Emerging 50, characterized by exciting new fintechs adapting innovative technologies, practices and new business models.
While China was a global winner with the top three fintech firms on the leaders list, three Toronto-based companies cracked into the Leading 50.
Founded in 2015, SecureKey Technologies jumped to number 18 from 42 the year prior. Wealthsimple was a new addition to the global list of the top fintech firms, coming in at number 29. League has been ranked 41.
It’s been a good year for Wealthsimple and its digital investment platform. The Canadian robo-advisor made its first international foray into the U.S. in January, raised $50 million in May, and journeyed across the pond to the U.K. in September.
League also began its international expansion this year, rolling out its health benefits platform to the U.S. in June. The insurtech company also unveiled a virtual care solution dubbed Health Concierge in July and introduced a host of new insurance partners in October.
As for the Emerging Stars list, another three Toronto-based notable companies made the non-ranking list: Borrowell, Sensibill and Wave HQ.
In July, Borrowell captured $57 million in new funding on the heels of a partnership with CIBC that saw the big bank leveraging Borrowell’s online platform to offer free mobile credit scores.
Wave secured $24 million from a host of new investors in May, followed by a collaboration with banking giant RBC announced in October to integrate invoicing, accounting and business financial insights into RBC’s online banking platform.
“Disruptive fintech companies continue to dominate the Fintech 100, representing strong interest from investors in business models and management teams that are seeking to radically change the industry paradigm,” said Ian Pollari, the global co-lead for KPMG Fintech.
Firms categorized as ‘disruptors’ made up 73 of the top 100. Thirty-two firms were focused on lending following by lending with 21, transactions and capital markets with 15, and 12 in insurtech.
“That said, the importance of ‘enablers’ — companies working in cooperation with financial services institutions to steadily improve products and services — has remained steady. Across the 2017 list, there are 27 such enablers; working across accounting, insurance and banking,” he added.
Twenty-nine countries were represented in this years Fintech100, seven more than 2016.
