Investments in fintech companies in Asia-Pacific grew 9.1% to US$1.4 billion in the second quarter of 2020 when compared with the first quarter, according to the Q2 APAC Fintech Funding Report by S&P Global Market Intelligence. Deal activity remained flat in the region, with 107 transactions recorded in both quarters.
Fintech funding in Asia was predominantly led by South East Asia and Australia, with both regions drawing in US$455 million and US$369 million. This is roughly three-times and two-times the amount raised in the previous quarter respectively.
Fintech investments in India declined 38% to US$339 million as the government continued to scrutinise and clamp down on foreign investments. Funding in China also fell from US$205 million to US$41 million as the country saw fresh outbreaks of COVID-19 cases.
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