Asia-Pacific nearly doubles 2015 fintech financing in first half of 2016 reaching almost $10 billion; growth driven by China. China now largest FinTech investment hub globally
Investments in Asia-Pacific financial technology (fintech) ventures, primarily in China, reached $9.62 billion as of July 31, more than twice the $4.26 billion invested in the region in all of 2015, according to Accenture (NYSE:ACN) analysis of CB Insights data. Investments in Asia-Pacific have eclipsed North America, which as of July 31 garnered $4.58 billion in fintech investments; and also tops Europe, which attracted $1.85 billion in the same period. However, deal volume remains higher in North America and Europe, as the Asia-Pacific increase is due to big investments in a few select fintech companies in China. There have been 192 deals in Asia-Pacific so far this year, as compared with 509 in North America and 230 in Europe.