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India overtakes China in fintech funding in March quarter

China city New Delhi India state Indiana city Venture covid-19 experts 2020 pandemic
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NEW DELHI: Venture capital-backed investments in India's fintech sector outpaced those in China in the first quarter of 2020 in terms of both deal value and volume, according to data and analytics company GlobalData.

The global economic turmoil caused by covid-19 has diminished the investment appetite for fintech startups in 2020. China, in particular, has been hit hard by the pandemic.

Over the last two years, China’s fintech startup ecosystem survived as the breeding ground for VCs. However, the trend reversed with Indian fintech startups attracting more investment in the March qurater. “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

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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