“While China has attracted the most amount of investments, India stands second in the analysis with USD 339 million,” according to Accenture analysis of CB Insights data.
Financial technology companies include firms that facilitate online payments and provide technology supporting such platforms like digital and mobile wallets and payment gateways.
Investments in Asia-Pacific financial technology ventures, primarily in China, reached USD 9.62 billion as of July 31, more than twice the USD 4.26 billion invested in the region in all of 2015, the report said.
Investments in Asia-Pacific have eclipsed North America, which as of July 31 garnered USD 4.58 billion in fintech investments and also tops Europe, which attracted USD 1.85 billion in the same period, it added.
“However, deal volume remains higher in North America and Europe, as the Asia-Pacific increase is due to big investments in a few select fintech companies in China. There have been 192 deals in Asia-Pacific so far this year, as compared with 509 in North America and 230 in Europe,” the report said.
In fact, the top 10 investments in Asia-Pacific fintech ventures occurred in China and Hong Kong, accounting for 90 percent of overall Asia-Pacific investments, as per the report.
Source: The Economic Times