China fintech firms rise in the rankings

Singapore

THE financial technology (fintech) sector has been gaining ground in some Asia-Pacific markets, especially China, according to a report. The second annual Fintech 100 report, by fintech investment firm H2 Ventures and KPMG, lists 50 established fintech companies as well as 50 of the most promising "Emerging Stars" with innovative ideas.

This year, 22 companies from the Asia-Pacific made it to the list, of which two - Fastacash and Numoni - are from Singapore. Chinese fintechs were a fairly prominent feature on the list this year, with Shanghai-based ZhongAn topping the 50 "Established Innovators" list, while Beijing-based Qufengi was in fourth place. US companies Oscar and Wealthfront were in second and third places respectively.