Investment into Australian fintech has increased by a massive 252% year-on-year, according to a KPMG report, reaching a record high of $2.9 billion in 2019.
KPMG’s Pulse of Fintech H2 2019 report measures investment activity, including venture capital, private equity and mergers and acquisitions, and shows a huge jump for 2019, compared to $1.14 billion invested in 2018.
Dan Teper, KPMG head of fintech for Australia, called 2019 a “breakout year” for the Australian ecosystem, pointing to innovation in the banking and lending space, as well as in property, insurance and superannuation.
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