Press Release.
SAN FRANCISCO, Calif. — November 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. The top five Fintech startup ecosystems globally in 2020 are Silicon Valley, New York City, London, Singapore and Beijing, respectively.
Key highlights from the Global Fintech Ecosystem Report –
Top 20 Fintech Ecosystems Ranked + Runners-up
- Europe and North America no longer dominate and the Asia-Pacific region joins as equal.
Growth of Fintech Funding is Slowing Down
- In early-stage funding (pre-seed to Series A), Europe and the Americas are up, although the USA less so, and China has dropped.
- Series B+ funding is significantly up as COVID-19 clearly separates winners from losers. More money is being poured into winners, hinting at consolidation. Also, China is the only region down but from a record 2019 ($14B in Ant Financial).
Applications
- Emerging markets are growing fast as Fintech fills an unmet need rather than disrupts.
- Investment apps are booming everywhere with payment apps coming in second.
Report partner Abu Dhabi Global Market is an international financial center in the capital of the United Arab Emirates. Focused, localized research highlights a first for funding growth in the Middle East and North Africa region (up 75% Year on Year), which is providing the financial runway to properly develop and ultimately scale Fintech businesses. Abu Dhabi is also attracting technical and managerial talent. With already more than 50% of Fintech talent coming from abroad, the ecosystem increasingly commands the capacity and diversity required for scaling businesses across and beyond the geographic region.
“Post-COVID, entrepreneurship and innovation will be the #1 drivers of job creation and economic recovery,” said JF Gauthier, founder and CEO of Startup Genome. “This Report shows how some governments are supporting Fintech ecosystems and how others can build on their work to fuel economic recovery.”
Find out how Fintech-focused entrepreneurial ecosystems across the world stack up and view the full report here: https://startupgenome.com/report/global-fintech-ecosystem-report-2020.