China fintech deals clinch 67.1% of Asian fintech investments in 2015-19

15 deals during the period were valued above $1b.

Fintech companies in China captured 67.1% of $98.1b total fintech investments in Asia between 2015-2019, reports Fintech Global.

This has been driven by large deals valued at or above $1b, with 15 deals in this size range being completed during the period

“As China’s financial landscape has traditionally been poorly regulated with few options for consumers, tech giants in the area such as Alibaba, Tencent and Baidu were able to disrupt the market with their FinTech offerings, making financial services accessible to everyone,” the report read.

Fintech companies in India followed, clinching 17.9% of investment in Asia. The fintech sector in the country was brought into the national spotlight following the late-2016 demonetisation drive by the Indian government, shifting merchants away from cash and allowing fintech companies in the region providing digital payments solutions to flourish, noted Fintech Global.