The world's top fintechs raised more than US$18 billion over the past year, according to the 2019 Fintech 100 report.
Compiled by H2 Ventures and KPMG, the report reveals that 32 companies in the list raised at least US$100 million - up from 26 companies last year and 12 in 2017.
Australia has seven companies in the 2019 Fintech100. The top entrant is cross-border payments company Airwallex at number 32.
Other local inclusions are Judo Bank, AfterPay Touch, home lender Athena, AI and machine learning developer daisee, disaster response platform Sempo and "smart receipt" developer Slyp.
The overall list is dominated by payment and transaction businesses, with 27 companies represented, wealth and brokerage businesses (19 companies), insurance (17 companies) lending and credit (15 companies), diversified (13 companies) and neo banks (nine companies).
According to the report, open banking is now the driver of change in the industry.
"Many companies in this year's list have benefited from the global policy shift, which allows them to access customer banking data to create more personalised experiences and new services," the report says.