In 2014, KPMG together with AWI and FSC released the “50 Best Fintech Innovators” report, one of the first papers that examined the most prominent Fintech players globally. 5 years on, CFTE is taking an in-depth look at the evolution of these 50 companies.
A good yardstick for measuring growth for a company is the number of employees that it has. Today, the top 50 Fintechs as listed by KPMG back in 2014 employ more than 27,000 people – a total that is equivalent to 81% of the entire financial service workforce in the city of Bristol, and 74% the size of renowned investment bank Goldman Sachs!
Collectively, the group of 50 Fintechs added at least 8,061 jobs in the past two years (for firms that data was available for), which marks an impressive growth of around 43%. The average startup in the report boasts a workforce of 558 employees, highlighting the growth pattern of not only these companies, but the viability and sustainability of the global Fintech ecosystem as a whole.
So why have these companies successfully grown to the point where their employee numbers have increased exponentially year-on-year?
The “Fintech 50: 5 Years in Fintech” report by CFTE presents their milestones, investment deals, growth and talent trends. We examine their hiring, survival rate, changing business models, success against incumbents, and expansion both geographically and in terms of market share.