Accompanying the Fintech Australia Census 2016, published by EY and Fintech Australia, were several infographics highlighting the emerging Fintech ecosystem in Australia.
One of the visualizations involved “Fast Facts” which included some interesting data points.
- The largest sector concentration is in Lending at 25%
- Personal finance and asset management are number 2 and 3 on the list
- 89% of the companies are 5 years old or less with over 50% being less than 2 years old
- 43% are pre-revenue
- Average capital raised per Fintech startup was $3.85M
- One of the biggest challenges? Talent shortage – specifically engineering / software
- 64% believe Aussie Fintech startups will be able to compete internationally (and 43% believe they will be able to win)
See below. Click to enlarge.
