Investments in Asia-Pacific financial technology (fintech) ventures, primarily in China, reached $9.62 billion as of July 31, more than twice the $4.26 billion invested in the region in all of 2015, according to an Accenture analysis of CB Insights data India stood second in this analysis, with investments of $339 million.
On Tuesday, an Indian fintech startup quietly announced that it has raised US$75 million in funding, reports Business Standard. That makes it India’s biggest fintech round so far this year.
The second quarter of 2016 has failed to revive the investor interest in the VC-backed finetch startups, according to Pulse of Fintech, a quarterly global report by KPMG and CB Insight. According to the report, the investments in Fintech startups fell by 49% in Q2, 2016
Global investments in fintech companies across both venture-backed and non-venture-backed companies totaled $9.4 billion in the second quarter of this year, says a report. However, investment directed to VC-backed fintech (financial technology) startups fell 49 per cent, the report said.