Chinese FinTech companies took four places of the Top 10 FinTechs Ranking in 2018. Ant Financial topped the list, followed by JD Finance. Baidu-affiliated Du Xiaoman Financial and Lufax ranked fourth and tenth, respectively, according to the report from H2 Ventures and KPMG.
Ant Financial including Alipay, Ant Fortune, Yu’E Bao, Zhima Credit, MYbank, and Ant Financial Cloud had 870 million users worldwide as of March 2018.
JD Financial provides a set of services including JingBaobei, Baitiao, Jintiao and Xiaobai. It has served more than half a million corporate clients and 150 million individual consumers.
Baidu-affiliated Du Xiaoman Financial provides short-term loans and investment services. It had a loan balance of 28 billion yuan (USD$4.42 billion) as of 2017. Ping An Group-affiliated Lufax had a loan balance of US$24.55 billion as of May 2018.
Of the top 100 fintechs companies, 18 are from the US, 12 from the UK, 11 from China, 7 from Australia, and 6 from Singapore.
34 out of the top 100 fintech companies are payments companies, followed by lending (22), wealth management (14), and insurance (12). The top 100 have raised over US$52 billion in venture capital, more than double compared to the previous year.
59.9% of China mobile payment users bought financial products, Ye’E Bao the most popular.