Investments in Indian Fintech reach $339 million

The Dollar Business Bureau 

Investments in India’s financial technology companies touched $339 million till the end of July 2016, the second largest in the Asia-Pacific region after China, said a report on Thursday. 

“While China has attracted the most amount of investments, India stands second in the analysis with $339 million,” according to the Accenture analysis of CB Insights data.

Financial technology ventures include companies that facilitate payments online and offer technology support through platforms such as payment gateways, digital and mobile wallets. 

Till July 31, 2016, overall investments in the Asia-Pacific region’s financial technology companies, mainly in China, touched $9.62 billion, which is more than double of $4.26 billion invested during entire 2015 in the region, said the report.

Fintech investments in the Asia-Pacific region have overtaken North America, which has garnered $4.58 billion till July 31. The region also tops Europe, which garnered $1.85 billion in the given period, the report added.

“However, the number of deals remain higher in Europe and North America, as investment in Asia-Pacific region surge due to huge investments in select few fintech firms in China. There was a total of 192 deals in the Asia-Pacific region until now this year, compared to 509 deals in North America and 230 deals in Europe,” the report said. 

In fact, the top 10 investments in fintech companies in Asia-Pacific happened in China and Hong Kong, making up for 90 percent of the total investments in the region, it added.