{"id":41225,"date":"2023-10-20T15:12:29","date_gmt":"2023-10-20T15:12:29","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/australian-fintechs-scored-us600-million-in-new-deals-in-2016-despite-investment-plummeting-worldwide-report-startupsmart\/"},"modified":"2023-10-20T15:12:29","modified_gmt":"2023-10-20T15:12:29","slug":"australian-fintechs-scored-us600-million-in-new-deals-in-2016-despite-investment-plummeting-worldwide-report-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/australian-fintechs-scored-us600-million-in-new-deals-in-2016-despite-investment-plummeting-worldwide-report-startupsmart\/","title":{"rendered":"Australian fintechs scored $US600 million in new deals in 2016 despite investment plummeting worldwide: Report – StartupSmart"},"content":{"rendered":"
Investment in Australia\u2019s fintech sector soared to more than $US600 million ($780 million) in 2016 up from just over $US50 million four years prior, a KPMG report reveals.<\/p>\n
According to KPMG International\u2019s The Pulse of Fintech<\/em> report, in 2015 $US185 million injected across 23 fintech investments in Australia and a year later, $US656 million was injected into 25 deals.<\/p>\n Back in 2012, fintech investment in Australia totalled $US51 million, according to KPMG.<\/p>\n Meanwhile, investment in fintech slid by nearly 50% around the world between 2015 and 2016. In 2015, total global investment in fintech ventures totalled $US46.7 million, but that figure dropped to $US24.7 billion in 2016.<\/p>\n “Australia\u2019s performance was driven by some large deals, and specifically M&A [mergers and acquisitions] and private equity transactions,\u201d KMPG’s fintech practice global co-lead Ian Pollari said in a statement.<\/p>\n \u201cWhile mega deals result in peaks and troughs in overall figures, the trend is clear and demonstrates increasing interest and investment activity in fintech.\u201d<\/p>\n According to rising fintech star Prospa, which recently closed a $25 million investment round led by AirTree Ventures<\/a>, increased interest in Australian fintech companies comes with rising confidence among consumers to engage in new markets like online lending platforms.<\/p>\n \u201cIt\u2019s a great story for Australian VCs, and really just cements the general market awareness of how Australia can build great tech companies,\u201d Prospa founder and chief Beau Bertoli told SmartCompany<\/a> <\/em>about the company’s latest capital raise.<\/p>\n \u201cWe\u2019ve seen a massive shift in the past couple of years for acceptance of lending. When we started there wasn\u2019t a lot of awareness of options outside of the banks, we\u2019ve seen great feedback from customers.\u201d<\/p>\n