India-based investors 2nd to provide fintech investments in APAC in 2021

With a strong interest in companies specialising in blockchain and artificial intelligence, India-based investors were a distant second in providing funding to fintech in Asia-Pacific after the US in 2021, a report said on Wednesday.

According to the S&P Global Market Intelligence research, US investors, led by venture capitalists, funded 358 fintech companies in the Asia-Pacific region in 2021, up from 134 in 2020.

India also attracted the most funding in the region, with $5.94 billion raised across 236 deals in 2021, up from $1.5 billion across 118 deals in 2020.

“Venture capital funding reached new highs in 2021, with Asia-Pacific fintech receiving $15.69 billion. Such funding was up sharply from $5.87 billion in 2020 and was 74 per cent higher than 2019’s pre-pandemic levels,” the research firm said.

Global investors were most active in backing fintech companies specialising in investment and capital markets technology such as blockchain, internet of things and artificial intelligence, funding 254 deals in 2021 compared with 99 the year prior.

The report said that payments were the second-most popular category for the US investors, as 167 companies received funding in 2021.

–IANS

vc/dpb

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor