FinTech Firms Dominate China’s Top Ten Unicorn Ranking

Half of China's ten biggest unicorns, or start-ups valued at US$1 billion or above, are financial technology firms. Alibaba-affliated Ant Financial is the biggest unicorn in the country, worth a whopping US$60 billion, followed by peer Lufax at US$18.5 billion, according to a new report by iResearch.

JD Capital-backed P2P (peer-to-peer) lending platform Jiedaibao, China's first online insurer Zhong An Insurance and Inc.-backed JD Finance are ranked eight to tenth on the top-ten list.

Xiaomi Inc, Didi Chuxing, Meituan-Dianping, DJI and Alibaba-founded Cainiao took up the remaining spots on the ranking.

Across China, there are currently 79 unicorns in total, with 31 new additions this year.

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