3 ASX-listed fintech stocks with over 25% YTD returns in 2021

Highlights

  • Fintech is one of the fastest growing sectors in the Australian economy.
  • With a substantial rise in digital transactions during the COVID-19 pandemic, the sector grew at a fast pace in the past few months.
  • A few stocks that can be considered by investors include – PPS, MME, and FCL. 

With over 800 companies, the fintech sector plays a significant role in the Australian economy. While the COVID-19 pandemic proved to be a disrupting event for the majority of sectors, fintech saw a boom as cashless transactions gained traction. Considering growing rush towards digital transactions, fintech stocks are well positioned for further growth.

Here are three ASX-listed fintech stocks with over 25% YTD returns in 2021. However, one needs to do a thorough research before taking any exposure as sinusoidal market trends are evident.

Praemium Ltd (ASX:PPS)

The fintech stock has given a YTD return of 100%. In the past one year, the stock is up over 83%.

Praemium offers several financial services to the wealth management industry. It provides portfolio administration, investment platforms, and financial planning tools to businesses.

The company last month said that it had received a takeover proposal from Netwealth Ltd.

In the 3 months ending September, Praemium achieved record quarterly inflows of AU$1.66 billion, implying a 37% rise on the previous period and a 126% jump on the September 2020 quarter.

MoneyMe Ltd (ASX:MME)

The fintech stock has given a YTD return of nearly 26%. In the past one year, the stock is up over 30%.

MoneyMe uses its technology platform and big data analytics to deliver innovative loan offerings to tech-savvy consumers.

In the first two months of Q2FY22, MoneyMe reported record originations of AU$170 million. The contracted future revenue rose to AU$158 million during the period under review.

The company also reported a better-than-expected take-up of its Autopay product. Total gross customer receivables rose to AU$542 million.

Furthermore, MoneyMe settled AU$50 million drawdown announced in September via a partnership with Pacific Equity Partners.

FINEOS Corporation Holdings (ASX:FCL)

The fintech stock has given a YTD return of over 25%. In the past one year, the stock is up over 24%.

FINEOS Corporation Holdings provides modern customer-centric core software to industries such as life, accident, and health. The fintech firm’s specialised software products help insurers to bring their operations to accelerate their digital transformations.

The company achieved total revenue of €108.3 million in FY21, implying a rise of 23.3% on FY20. The annual recurring revenue reached €45.7 million. The gross profit rose by 23% to €72 million. Proforma earnings before interest, tax, depreciation, and amortisation (EBITDA) was down 49.6% to €7.9 million. The subscription revenue surged 48.6% to €40.1 million.

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