The finance technology or FinTech space is one that is increasingly led by players from around the world rather than just in the United States. Of the 10 top FinTech startups that received the most funding in 2014, 4 are from other countries and, most importantly, the top recipient is based in the Netherlands.
With 2 funding rounds in 2014 totalling $266m, Adyen led the pack in funding that year. Based in Amsterdam, this startup has now developed a global footprint with offices in 7 countries around the world. With a portfolio of clients that continues to grow, Adyen already provides services for 4 of the 5 largest American internet companies.
Also a company with a global footprint is Powa Technologies which managed to raise $177m last year. Coincidentally this UK based startup is a direct competitor to the American based Square, who is tied for third place among the top fintech startups with a Series E round totalling $150m. Founded only 5 years ago by Jack Dorsey, Twitter Co-Founder, Square already has nearly 1000 employees and has raised a total of nearly $600m so far.
Of these top FinTech startups, in 5th place is Qufenqi, the only Finance Technology startup from Asia that made the list with a combined Series B & Series C funding rounds of $130m. Qufenqi is focused on delivering payment options so that customers can pay in monthly installments.
Two standouts on this list, despite being in the bottom half, are American based, Lending Club and OnDeck. The former raised more than $100m while the latter raised $77m in 2014, but they are the only two of this list of top fintech startups to have already had their IPO.
FinTech is a space that’s changing extremely quickly. We shouldn’t be surprised to see the geographic makeup of the top fintech startups ranked by funding to become even more international in 2015.