The Cricket World Cup fever has taken over the globe, and we feel it here at MEDICI too. The matches have begun, and all enthusiasts are looking closely at the points table. Interestingly, New Zealand and Australia are on top of the table. Seeing this, we decided to look at the FinTech market in the region.
To provide an overview, the FinTech industry in Australia has grown drastically, with the financial services sector being the largest contributor to the national economy, contributing around $140 billion[1] to GDP in 2018. In March, the government announced[2] a boost of AU $100,000 for its plan to develop a national blockchain roadmap. More recently, on June 13, Europe based FinTech startup Revolut launched[3] its app in Australia and announced that over 20,000 customers from Australia had already placed themselves on the waitlist.
In our research, we found that the leading startups headquartered in Australia seem to cover a range of segments. Over the next few weeks, we hope to do a deep dive into each segment. For now, here is a look at the top 15 FinTech startups in Australia:
-
Judo capital[4], founded in 2016, provides an online lending platform for small and medium Enterprises (SMEs), enabling them to avail financing solutions for their business needs. It provides credit ranging from $250,000 to $5,000,000.
-
Airwallex[5], founded in 2015, is a foreign exchange market and cross-border payment company that is focused on the APAC markets. Airwallex’s platform enables businesses to issue and pay invoices in their preferred currency at the mid-market foreign
