African FinTechs feature in KPMG report
Nigerian and Kenyan FinTechs have made the prestigious list of 50 emerging companies in the sector
Nigerian FinTechs Flutterwave and Riby and Kenya’s GrassRoots Bima from Kenya have been ranked in the top 50 emerging FinTech companies globally in KPMG and H2 Ventures' 2017 fourth annual Fintech 100 report.
Profiling 100 innovative FinTech companies positioned to disrupt the marketplace, the report features firms from 29 countries, including 41 companies from the UK and Europe, Middle East and Africa. It is divided into Top 50 established firms ranked according to innovation, capital raising activity, size and country and Emerging 50 companies. Other aspects taken into consideration include total capital raised, geographic diversity, and business model innovation.
Established in 2016 by a team of ex-bankers, entrepreneurs and engineers and operating in more than 36 countries, Flutterwave provides the underlying technology platform that allows businesses to make and accept payments anywhere in Africa, while Riby is a mobile app-based service that offers a range of financial management features including digitisation of collaborative saving, lending and investments.
GrassRoots Bima is an insurtech company established to meet the insurance needs of the mass market through innovative inclusive insurance and a just a year after being founded, has "has quickly become one of Africa's most innovative InsureTech companies".