Australia's fintech or financial technology sector has experienced significant growth in recent years. The market in Australia features a diverse range of startups entering many fintech subsectors across the country, as well as companies that have matured over the past few years. Payments and lending are the
in terms of the number of businesses. However, that has not limited the growth of newer, emerging fields such as challenger banks or neobanks, blockchain, and insurtech.
Australia’s fintech landscape
Australia's consumers have embraced the surge in fintech activity, with the
fintech adoption rate increasing significantly since 2015. New South Wales has retained its position as the fintech hub of Australia, with over
half of all fintech companies in the country headquartered in the country's most populous state. Most of the nation's fintech companies were founded between 2015 and 2020, including one of the most successful startups out of Australia, Airwallex. The reach of Australian fintech companies is not confined to the country's borders; many Australian fintech firms have customers outside of Australia, and around
70 percent of fintech firms have teams based overseas.
A fintech future
Investors in Australia are excited about the future of fintech in the country. The
value of venture capital deals in fintech startup companies in Australia was the second highest investment sector in 2023. Furthermore,
Australia's total fintech investment has consistently exceeded three billion Australian dollars annually. With a population open to embracing new technologies and an advanced fintech regulatory framework that promotes innovation and collaboration, Australia looks set to retain its position as a leading global fintech leader.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.
