Investments in private financial technology (fintech) companies in Asia-Pacific grew 9.1 per cent to USD 1.4 billion in the second quarter of 2020 as compared to the first quarter, a report by S&P Global Market Intelligence said on Tuesday. The ‘Q2 APAC Fintech Funding Report’ said fintech investments in India declined 38 per cent to USD 339 million “as the government continued to scrutinise and clamp down on foreign investments”. Funding in China also fell from USD 205 million to USD 41 million as the country saw fresh outbreaks of COVID-19 cases, it added. Fintech funding in Asia was predominantly led by Southeast Asia and Australia, with both regions drawing in USD 455 million and USD 371 million, roughly three-times and two-times the amount raised in the previous quarter, respectively, it said.”Fintech investments in Asia were primarily driven by India in the last quarter, but investors appeared.
Financial technology companies funding in APAC up 9.1% in Q2; India sees 38% dip
Date posted: Thursday 27 August 2020