Global Fintech Ecosystem Report Launch | Top 20 Ranking

Startup Genome | Nov 24, 2020

The Global Fintech Ecosystem Report 2020 by Startup Genome is launching today at FinTech Abu Dhabi, a conference focused on the latest launches, pioneers, brands, and insights that are powering the world of financial technology.

The Global Fintech Ecosystem Report is an extension of Startup Genome’s Global Startup Ecosystem Report and the first installment of the annual sub-sector report series. The Report ranks the global top 20 and runner-up Fintech startup ecosystems on five Success Factors, including Performance, Talent, Funding, Focus and Legacy.

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The top five Fintech startup ecosystems globally in 2020 are Silicon Valley, New York City, London, Singapore and Beijing, respectively.

Highlights:

  • The top 5 global Fintech ecosystems are Silicon Valley, New York City, London,Singapore and Beijing.
  • Europe and North America no longer dominate the Top 20 Fintech ecosystems with the Asia-Pacific region contributing as many globally leading hubs as North America.
  • Overall, the growth in Fintech funding is slowing down globally. Early-stage funding (pre-seed, seed and Series A) has plateaued almost everywhere. China in particular has seen a drop. The notable exceptions are Europe, and Americas (excluding USA), both of which have seen an increase.
  • Series B+ funding is doing better, with China being the only region down in 2019,but this is due to a whopper year in 2018, led by a $14B funding round for Ant Financial.
  • The increasing share of series B+ rounds in total funding for fintech indicates industry consolidation with more money being poured into winners. This is ultimately necessary as Fintech commercials require large volumes for profitability.
  • European Fintech funding continues its steady climb at all stages and with consistent unicorn growth, not the least reflective of rapid growth in user adoption since pandemic.
  • Digital-only banking clearly is on the rise; including by adding new services such as wealth management as well as broader service bundles.
  • Artificial Intelligence: A natural complement to Fintech, helping the industry develop hyper personalized solutions.
  • From competition to collaboration – incumbents and startup challengers increasingly realize benefit in collaborating, resulting in a much larger number of partnerships between incumbent FIs and Fintechs as well as between non-financial players and Fintechs.

Global Fintech Ecosystems

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