Nigerian fintech startups Flutterwave and Riby have recently been named among the best 50 emerging fintech startups in the world according to the annual Fintech 100 report compiled by KPMG and H2 Ventures.

The Fintech 100 demonstrates the acceleration of the disruption taking place in the global financial services industry, with more capital being invested around the world in startups and established ventures that are creating new financial products and solutions.

It also offers an in-depth view and exciting analysis of the best tech-enabled financial services startups and organizations globally.

It is worth noting that China fintech continues to dominate with first, second and third place held by Chinese tech firms, global adoption of fintech innovation continues to accelerate, with 29 different countries represented, up from 22 countries in 2016.

The report is divided in two, featuring the top 50 established fintech companies from around the world, and the most captivating emerging 50 fintech startups.

Africa is represented by three companies all in the emerging section.

They include two Nigerian startups, namely payments company Flutterwave and financial management app Riby, Kenyan insurtech startup GrassRoots Bima also makes the list.

Fintech is a sector rapidly growing in Africa with over 301 fintech startups active in the space.