China emerging as fintech leader
Thursday, 17 December 2015 12:44pm

China is taking a leading presence in the fintech sector, according to KPMG research.

In partnership with H2 Ventures, KPMG released the Fintech 100 report, which lists the top 50 established "leaders" in the sector along with 50 emerging companies.

Chinese online property insurance service ZhongAn Insurance took the top spot. Another Chinese firm, Qufengi, came in at number four; KPMG noted that where only one Chinese company appeared on the list last year, now there are seven.

Presenting the report in Sydney, H2 Ventures founding partner Toby Heap described China's fintech market as "going crazy."

KPMG partner James McKeogh added that Chinese fintech companies had a particular edge in the market due to their focus on "understanding the importance of data exchange from users, rather than simply trying to monetise new customers."

The report also showed that globally the fintech companies in the list had collectively raised over $13 billion.

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