press-release Market Intelligence /marketintelligence/en/media-center/press-release/total-fintech-funding-in-asia-increased-91-in-second-quarter-as-investments-in-southeast-asia-and-australia-soared content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

Total Fintech Funding in Asia Increased 9.1% in Second Quarter as Investments in Southeast Asia and Australia Soared

Fintechs in both regions attracted $826 million in total, approximately 60% of total investments in Asia

Hong Kong, Aug. 25 2020 — Investments in private financial technology (“fintech”) companies in Asia-Pacific grew 9.1% to $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 Southeast Asia and Australia, with both regions drawing in $455 million and $371 million, roughly three-times and two-times the amount raised in the previous quarter, respectively. Fintech investments in India declined 38% to $339 million as the government continued to scrutinize and clamp down on foreign investments. Funding in China also fell from $205 million to $41 million as the country saw fresh outbreaks of COVID-19 cases.  

“Fintech investments in Asia were primarily driven by India in the last quarter, but investors appeared to have shifted their attention to Southeast Asia and Australia,” says Celeste Goh, Fintech Analyst at S&P Global Market Intelligence. "Outlook for fundraising activities will largely remain the same as growing tension between China and India may continue to drive capital into Southeast Asia in the months ahead. Meanwhile, open banking developments in Australia may continue to spur investors’ interest in digital banks."

Across the six industry segments tracked by S&P Global Market Intelligence, payment companies remained as the top-funded fintech segment with $623 million raised, up from $403 million in the previous quarter.

Across Southeast Asia, e-wallets were a big draw for investors with the top two e-wallet fund raises by Philippines' PayMaya and Myanmar's Wave Money accounting for 31% of investments in the payments sector.

In Australia, digital-only banks continue to drive fintech funding in the region with Judo Bank, 86 400 and Xinja saw investments amounting to $176 million for the quarter.

Access to the full report is available to members of the media; please contact: Vivian.Liu@spglobal.com.   

 

– END –

  

About S&P Global Market Intelligence

At S&P Global Market Intelligence, we understand the importance of accurate, deep and insightful information. We integrate financial and industry data, research and news into tools that help track performance, generate alpha, identify investment ideas, perform valuations and assess credit risk. Investment professionals, government agencies, corporations and universities around the world use this essential intelligence to make business and financial decisions with conviction.

S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI), the world’s foremost provider of credit ratings, benchmarks and analytics in the global capital and commodity markets, offering ESG solutions, deep data and insights on critical business factors. S&P Global has been providing essential intelligence that unlocks opportunity, fosters growth and accelerates progress for more than 160 years. For more information, visit www.spglobal.com/marketintelligence.

Learn more about Market Intelligence
Request Demo

Media Contact

Vivian Liu, S&P Global | Market Intelligence
P.   +852 91791132
E. Vivian.Liu@spglobal.com

Subscribe to Press Releases

Submitting your email above means you agree to the Terms and have read and understood the Privacy Policy