Student loan finance company Future Finance ranks at number 34 out of the top 50 global fintech companies, as ranked by KPMG in its H2 Ventures Fintech100 report.

Future Finance has moved up five places since last year, and another Irish online payment technology company, Stripe, founded by John and Patrick Collison, ranks 15th, moving up two places.

The report highlights fintech firms from around the world that are transforming the financial services industry, ranking the ‘Leading 50’ firms based on innovation, capital raising activity, size and reach, and the ‘Emerging 50’ — new companies that are at the forefront of innovative technologies and practices.

China and the US dominate the Top Ten, taking seven of the top slots. Global highlights include:

• Chinese fintechs continue to dominate at the top of the list, accounting for three of the top five places on the Leading 50 list with Ant Financial in first, JD Finance second and Baidu fourth. Singapore’s Grab was a new entry, taking third place, and US fintech Sofi moved up to fifth place.
• The US tops the Fintech100 with 18 fintechs placed, including three of the top ten, followed by the UK with 12 and China with 11. Australia and Singapore place strongly with seven and six.
• Global competition continues to expand, with 36 different countries represented in the full Fintech100, up from 29 in 2017 and 22 countries in 2016.  Almost half of the companies on this year’s list (41) were founded and continue to operate in emerging markets.
• Payments companies dominate the Fintech100, with 34 in total, followed by 22 in lending, 14 in wealth management and 12 in insurance. ‘Multis’ (fintechs offering a broad range of financial services to customers) dominated the top of the list, led by Ant Financial.
• Digital or ‘neo banks’ also increased their representation to 10 with Monzo, Number26, SolarisBank and Starling Bank making their Leading 50 debut.

KPMG partner Anna Scally  (pictured) commented: "Dublin is now recognised as a growing centre for fintech development, and it is fantastic to see Irish company Future Finance gaining recognition on the global stage, as well as Irish entrepreneurs John and Patrick Collison of Stripe building out their international presence here in Dublin.

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“Other companies like global crypto finance providers Circle, ranking 40th this year, have also recognised the opportunity here in Ireland, opening their Circle Pay global HQ in Dublin last year.”