APAC fintech exits hit $8.8b in H2 2025 as Hong Kong IPOs rebound

In contrast, IPO activity in Australia was “dry”, said KPMG.

Financial technology (fintech) exit value in the Asia Pacific region more than doubled in the second half of 2025 with Hong Kong seeing more listings.

Fintech exit value in the region hit $8.8b in H2 2025 across 65 exits, according to data from KPMG, a four-year high.

Hong Kong saw a “solid” uptick in fintech IPOs, and will see more activity in the pipeline, according to KPMG’s Pulse of Fintech report published in February 2026.

Earlier in 2025, analysts observed a resurgence in Hong Kong’s IPO market, leading to increased hiring for IPO-related roles amongst its banks.

A number of Chinese insurance technology (insurtech) companies successfully listed in Hong Kong over the past year, such as the Shouhui Group in March.

However, recording more fintechs exits aren’t necessarily expected to encourage fresh investment in the fintech space, KPMG said.

In contrast, IPO activity was dry in Australia, whilst M&A activity in the country focused primarily on strategic plays, including consolidation of fintechs to drive scale.