{"id":47713,"date":"2023-10-20T15:54:44","date_gmt":"2023-10-20T15:54:44","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/global-investment-in-fintech-hits-20-billion-as-the-australian-ecosystem-continues-to-grow-startupsmart\/"},"modified":"2023-10-20T15:54:44","modified_gmt":"2023-10-20T15:54:44","slug":"global-investment-in-fintech-hits-20-billion-as-the-australian-ecosystem-continues-to-grow-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/global-investment-in-fintech-hits-20-billion-as-the-australian-ecosystem-continues-to-grow-startupsmart\/","title":{"rendered":"Global investment in fintech hits $20 billion as the Australian ecosystem continues to grow – StartupSmart"},"content":{"rendered":"
Global investment in fintech startups hit nearly $20 billion last year, with major institutions and banks becoming increasingly willing to work with their potential disruptors, a new report finds.<\/p>\n
The total investment in fintech including debt and equity reached nearly $20 billion last year, according to The Pulse of Fintech <\/em>report by KPMG and CB Insights.<\/p>\n Investment into VC-backed fintech companies more than doubled from 2014 to 2015 with nearly $14 billion spent on 653 deals.<\/p>\n Driving this interest are fintechs offering solutions in lending, payment, block chain and bitcoin, Pollari says.<\/p>\n KPMG Australia head of banking and global co-leader for KMPG\u2019s fintech practice Ian Pollari says investors are realising that the evolving needs of digital savvy consumers are propelling innovation of financial services around the world.<\/p>\n \u201cWe\u2019re starting to see a lot more competition for deals from a threat perspective so money is going to support growth of potential disruptors,\u201d he tells StartupSmart<\/em>.<\/p>\n \u201cA quarter of deals in fintech is corporate.\u201d<\/p>\n Compared to other fintech hubs around the world, Pollari says that Australian centres like Melbourne and Sydney are new on the scene.<\/p>\n \u201cWe\u2019re still at an early stage of developing fintech,\u201d he says.<\/p>\n As major banks, financial intuitions and venture capitalists start taking notice of fintechs, Australia is starting to gain recognition.<\/p>\n \u201cWe are slowly coming on the radar,\u201dPollari says.<\/p>\n Australian fintechs represent 40% of the study’s top ten \u201cNotable \u2018rest of world\u2019 VC-backed fintech financings\u201d from 2014 to 2015.<\/p>\nThe state of play in Australia<\/h3>\n