Fintech Investments most in China followed by India, says Accenture
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"China's established companies, rather than nascent startups, are at the forefront of the fintech trend in the region," said Beat Monerrat, Accenture senior managing director, Financial Services Asia-Pacific. "Fintech companies with major backers such as
Investments in the APAC locale have surpassed North America, which starting 31st July 2016 saw investments worth $4.58bn in fintech. Notwithstanding, deal volume stays higher in North America and Europe, as the Asia-Pacific increment is because of enormous investments in a couple select fintech organizations in China. There have been 192 deals in Asia-Pacific so far this year, as contrasted and 509 in North America and 230 in Europe.
The main ten investments in the APAC district happened in China and Hong Kong, representing 90 percent of general Asia-Pacific investments and esteemed at $8.75 billion. Altogether, China and Hong Kong fintech ventures have pulled in $9 billion in investments so far in 2016.
Ant Financial Services Group, the financial-services subsidiary of e-trade mammoth Alibaba Group Holding that works China's online-installments stage Alipay, shut a $4.5 billion raising money round in April. Ping an upheld Lufax (Lu.com) finished a $1.2 billion round of raising support in January. Qufenqi, a hardware retailer that gives purchasers a chance to pay in regularly scheduled payments, and India's One97 Communications which works the Paytm brand.
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