India beats China in VC investments for fintech startups in first quarter of 2019
1 May 2019 8:21 AM GMT
Fintech startups in India continued to attract VC investments as leading hub in Asia while activity in China was largely impacted due to tighter regulations.
- India has beaten China as the leading fintech startup hub in Asia by attracting a larger volume of investments in the first quarter of 2019 revealing the contrasting environment in both the countries from an investor and regulatory point of view.
- According to venture intelligence firm CB Insights, fintech startups in India received venture capital investments to the tune of $286 million for the first quarter of 2019.
- China has always remained a dominant player in the fintech startup space in Asia and it had far outpaced India in 2018 in terms of VC investments but now the situation seems to have reversed with cautious investors and a tighter regulatory environment.
- In terms of deals, in the first quarter of 2019, the number of VC investments in fintech startups in China declined to 29 from 49 in the last quarter of 2018.