Investment in financial technology (fintech) ventures in India nearly doubled to $3.7 billion in 2019 making the country the world’s third largest fintech market, as per an analysis by Accenture. “Fintech investments in India nearly doubled to $3.7 billion in 2019 from $1.9 billion the previous year, putting the country as the world’s third largest fintech centre, behind only the US and UK,” an Accenture analysis of data from CB Insights said. The number of deals was up slightly to 198 last year from 193 in 2018, it added. Investments in payments companies more than tripled to $2.1 billion from about $660 million in 2018, while funding into insur-techs rose 74 percent to $510 million. The vast majority of funds raised last year in India went into payments startups (58 percent), while insur-techs raked in 13.7 percent of the investments and fintechs in lending accounted for 10.8 percent of the total, as per the data.

(Moneycontrol)