Australia
Scaling fintechs attracting attention in Australia
Total investment activity (VC, PE and M&A) in fintech in Australia 2017–2020*
Source: Pulse of Fintech H1’20, Global Analysis of Investment in Fintech, KPMG International (data provided by PitchBook), *as of 30 June 2020.
Australia is showing itself to be a strong fintech hub globally, with solid investments in H1’20 despite rising pandemic concerns, including a US$146 million raise by Airwallex and a US$130 million raise by Judo Bank.
Installment financing was a hot topic as Zip acquired US-based QuadPay and China-based mega-giant Tencent bought shares in Afterpay.
As fintechs in Australia aggressively work to scale, they are expected to drive increasing investment in the space. Additional offshore acquisitions are also expected as fintechs target international growth.
“One area of fintech that continues to gain investor and funding support is the ‘buy now, pay later’ or instalment finance sector. Through COVID-19, more merchants are looking to enhance their e-commerce/POS options for their customers who have shifted their purchasing their activities to online/mobile.”
Ian Pollari
Global Co-Leader of Fintech,KPMG International,Partner and National Banking Leader,KPMG Australia
China
India
Singapore