Neobanks dominate LinkedIn’s best Aussie startups list once again, while COVID-19 trends emerge

Top startups

The Judo Bank leadership team. Source: supplied.

There’s a sense of déjà vu in LinkedIn’s Top Startups 2020 list, with neobanks again dominating the top 10 ranking.

Having taken the crown from Canva last year, Judo Bank remains in the number one spot for 2020, while Volt Bank jumps up from third place to second.

Fellow neobank Xinja slipped a few places from fifth in 2019 to seventh this year.

But, some of the other businesses making an appearance this year reflect broader COVID-19 tech trends and resilience.

Edtech startups GO1 and WithYouWithMe both made the top 10, in sixth and ninth place respectively.

Flexible work marketplace Expert360 is in fourth place, HR startup Employment Hero came in at number five and algorithmic shipping company Shippit took the eighth position.

More general IT and tech providers were also recognised, with cloud-based technology solutions provider LAB3 coming in third place and software provider Willow just making the cut to slip into tenth place.

The list is compiled based on the actions of LinkedIn members in Australia.

It assess businesses based on four pillars: employee growth, job-seeker interest, member engagement with the company and employees, and how the startups pull talent from LinkedIn’s Top Companies list.

But, there was one notable exclusion this year. Design unicorn Canva, which took first place in 2018 and second in 2019, is nowhere to be seen in 2020’s top 10.

But, Canva hasn’t lost its culture-focused mindset.

Rather, having been founded in 2012, it’s outgrown its eligibility for the Top Startups 2020 list, which only judges businesses that are up to seven years old.

Indeed, Canva took third place in the 50 Best Places to Work list, released back in July.

NOW READ: “A hard pill to swallow”: Creativity and team spirit suffer as Victorian startups face extended lockdown

NOW READ: Volt partners with Microsoft to usher in a new era of Banking-as-a-Service


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