VCs didn’t pump as much money into India’s fintech startups as before
Advertisement
Advertisement
Advertisement
The second quarter of 2016 didn’t see an uptake in dollar value of VC investments into the country’s fintech startups according to Pulse of While investments in fintech startups fell by 49%, all is not lost. While there were no mega rounds, the number of deals remained consistent with last year’s figure. Startups in the SME and P2P space based out of Bengaluru and Mumbai clinched the top deals.
"VC investment in fintech remains strong in India. We continue to see investment in key areas such as payments and mobile wallet as well as increased momentum in emerging areas like robo advisory," Neha Punater, Partner and Head of Fintech at KPMG India said.
Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More
While India only saw a drop in dollar value, the second quarter saw a drop in both the number of deals and the quantum of deals world over. VC-funded fintech companies raised $2.5 Bn across 195 deals. That’s a solid 12% drop in deal volume compared to Q1 of 2016. The good news is that the report predicts that investments in fintech companies are expected to exceed 2015 results.
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Mukesh Ambani’s JioCinema cuts subscription prices as India’s streaming war heats up
- Data Analytics for Decision-Making
- Experts warn of rising temperatures in Bengaluru as Phase 2 of Lok Sabha elections draws near
- Axis Bank posts net profit of ₹7,129 cr in March quarter
- 7 Best tourist places to visit in Rishikesh in 2024