KPMG and H2 Ventures released their fourth annual ‘Fintech 100’ report which compiles a list of the year’s best fintech innovators from around the world.
The ‘Fintech 100’ is divided into two sub-lists: (1) the ‘Top 50’ established fintech firms around the globe, which are ranked based on innovation, capital raising activity, size and country; and (2) the ‘Emerging 50’ firms, which are newer companies that are at the forefront of innovative technologies and practices and often pursuing new business models.
NeoGrowth Credit Pvt. Ltd. featured amongst the Top 50 Emerging Fintech Firms around the world.
The selection of companies in the Fintech 100 was a result of extensive global research and analysis based on data and the core five factors noted below:
1. Total capital raised
2. Rate of capital raising
3. Geographic diversity
4. Sectorial diversity
5. X-factor: degree of product, service and business model innovation (a subjective measure that was applied only with respect to companies appearing on the Emerging list)
Some Key Highlights from the report:-
• The Fintech100 included a broad range of fintech companies from 29 different countries, with Companies from Korea, Mexico and Poland featuring for the first time.
• Within the ‘Emerging 50’, over US$600M has being raised in the last year and just over US$1B has been raised in total (since founding).
• The number of lending and payments related businesses continues to stand out in this year’s Fintech 100, with 32 and 21 companies respectively.
• Vast majority of companies in the Fintech 100 are using data, analytics and artificial intelligence to fuel their business models.
These factors further embolden NeoGrowth’s outlook towards digital lending, best described in words by Mr. Piyush Khaitan (PK), Managing Director (NeoGrowth). “The digital lending space is bigger than what we imagined…this means a very large market opportunity. NeoGrowth is looking at leading this space in India.”
NeoGrowth has been continuing on its journey of helping SME’s grow their business by providing them business loans at quick turnaround time, guided by strong data and analytical inputs and technology enabled repayment mechanism.
Over last year NeoGrowth expanded its geographical presence to 21 cities across India, thereby bringing the SME’s of these regions closer to gaining financial assistance for achieving their business growth.
(* ‘Fintech 100’ by KPMG & H2Ventures)