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Asia bucks global trend to stay as fintech magnet

VC-backed funding activity for Asian fintechs in Q3 up 50% at US$1.2b from Q2; globally, such funding falls 17% to US$2.4b

Published Wed, Nov 16, 2016 · 09:50 PM

Fintech

Singapore

INVESTMENTS in fintechs fell globally in the third quarter - making for a second consecutive quarterly dip - but Asia bucked the trend and remained a magnet for these investment dollars, a study by KPMG International and CB Insights has found.

Funding activity backed by regional venture capitalists (VC) for Asian financial technology (or fintech) firms jumped 50 per cent quarter on quarter to US$1.2 billion.

In the year to date, Asia-based fintech investments have hit US$4.7 billion - a…