KPMG, H2 Ventures Unveil Fintech 100 for 2017

It’s that time of the year once again: KPMG and H2 Ventures have teamed up to introduce their Leading Global Fintech Innovators roster, the Fintech 100 for 2017. The judges for this year’s Fintech 100 included more than 20 professionals from KPMG and other organizations with expertise in IT, data analytics, capital markets, financial services, and more.

This year 11 Finovate/FinDEVr alums made the Leading 50, with another 12 alums making the Emerging 50. New entrants to the KPMG/H2 Ventures roster include SoFi and Revolut among the Leading 50. All 12 the alums on the Emerging 50 are making their first appearance. See the full list.

Some of the highlights from the 2017 Fintech 100 include the observation that five of the roster’s top 10 companies are from China, as are the top three companies on the list: Ant Financial, ZhongAn, and Qudian (Qufenqi). The U.S. has a pair of companies in the top five: Oscar and Avant, and Europe and the U.K. each have one company in the top ten: Kreditech and Atom Bank, respectively.

Speaking of Asia, the Asia-Pacific region has 30 fintech companies in the top 100. The United States has 19 companies – the most from any single country – and the U.K. and EMEA areas have 41 companies in the list. The U.K. and EMEA region are also responsible for the highest number of companies on KPMG/H2 Ventures’ Emerging 50 list with 26.

With regard to sectors within fintech, the Fintech 100 breaks down as follows:

  • 32 lending companies
  • 21 payments companies
  • 14 transaction and capital markets companies
  • 12 insurance/insurtech companies
  • 7 wealth management/wealthtech companies
  • 6 cybersecurity/regtech companies
  • 4 blockchain/digital currency companies
  • 3 data and analytics companies

Alums from the Leading 50

Alums from the Emerging Stars

Wave Brings Business Services to Royal Bank of Canada’s Online Banking Platform

O Canada, indeed! Yesterday we shared the news that National Bank of Canada was joining Toronto-based SecureKey’s Digital Identity Network. Today we learn that Wave – a small, business financial management (BFM) solutions provider also from Toronto – has signed a deal that will integrate its invoicing, accounting, and business financial insights technology into Royal Bank of Canada’s online banking platform.

Pointing to the wide range of responsibilities shouldered by small business owners, Wave CEO and co-founder Kirk Simpson said, “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.” Wave’s financial software and services, which include free invoicing, accounting, payment processing, receipt scanning, and more, are currently used by nearly three million businesses worldwide.

Left to right: Wave CEO and co-founder Kirk Simpson and VP of Small Business for RBC Jason Storsley demonstrating Wave embedded financial software for FIs at FinovateFall 2017.

“We’re always exploring how we can use emerging technologies to simplify the complex issues our small business clients face and help them achieve their goals,” VP of Small Business for RBC, Jason Storsley said. “This means a small business owner can spend more time being the CEO of their business and less time being the CFO,” he added. Royal Bank of Canada is the largest bank in the country based on market capitalization ($113 billion). The bank’s 81,000 employees serve more than 16 million retail, business, public sector, and institutional banking clients in Canada, the U.S., and in 35 other countries.

Founded in 2010 and headquartered in Toronto, Ontario, Canada, Wave demonstrated its embedded financial software for FIs last month at FinovateFall 2017. The company has raised more than $79 million in total funding, and includes NAB Ventures, BDC IT Ventures, and CRV among its investors. In June, Wave introduced automatic payments for customers living in areas where Payments by Wave credit card processing is supported. This spring the company unveiled a variety of enhancements to its mobile invoicing solution, adding the ability to duplicate invoices, import contacts from your smartphone, and instant address auto-complete.

Finovate Alumni News

On Finovate

  • Wave Brings Business Services to Royal Bank of Canada’s Online Banking Platform
  • Finicity Teams with DataVerify.
  • Ripple Entices Banks with New Accelerator Program.

Around the web

  • Tradeshift joins the Hyperledger Board.
  • DAVO to offer app to Poynt merchants via Poynt’s App Marketplace
  • Ondot, Elan provide two-way fraud alerts for My Mobile Money app.
  • EverSafe wins a spot in Fidelity’s list of “8 financial tips for new widows.”

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateFall Sneak Peek: Wave

A look at the companies demoing live at FinovateFall on September 11 through 14 in New York. Pick up your tickets today and save your spot.

Wave helps small business owners get paid and manage their money. Now Wave also helps financial institutions engage and understand their small business customers better, with elegantly and deeply integrated online tools.

Features

  • Offers unprecedented 360° insights into small business finances
  • Boosts loyalty and engagement
  • Provides easy and fast integration

Why its great
Embedding Wave in online banking or similar services makes those services the daily, must-visit touchpoint for small business owners, and provides essential data for product recommendations.

Presenter

Kirk Simpson, CEO and Co-founder
An engaging speaker, Simpson co-founded Wave and has led the company to 2.7 million registered business customers.
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