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India overtakes China in fintech funding in Q1

China India experts 2020 pandemic crisis
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India has overtaken China in attracting venture capital (VC)-backed investments in the fintech sector both in terms of deal value and volume in the March quarter, said data and analytics firm GlobalData.

This comes amid diminished investment appetite for fintech startups due to the covid-19-led global economic crisis. China, where the pandemic originated, has been particularly hit hard.

In the last two years, China’s fintech startup ecosystem was a breeding ground for VCs. This trend has now been reversed with Indian fintech startups attracting more investments. “In Asia, though there is an overall pullback in VC funding of fintech startups in Q1 2020, India grabbed the top spot as China was hit by the pandemic-induced economic recession,"

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COVID-19
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United States
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