Published by Finews.asia – 17 November 2016
According to the the latest quarterly report on global fintech venture capital trends published by KPMG and CB Insights, global venture capital fintech funding declined in the third quarter 2016.
The drop was the second consecutive quarterly fall in fintech deals and dollars, however Asia bucked the trend with overall investment expected to reach new highs in 2016.
The «Pulse of Fintech» report claims that investors continued to take a much more cautious approach to fintech investments. Venture capital (VC) backed global fintech deal activity fell for the second consecutive quarter, marking its lowest level since the second quarter of 2014.
Asia Sees Increase
VC-backed fintech funding dropped 17 percent to $2.4 billion, while deal activity fell 12 percent to 178 deals in quarter three 2016 compared to the previous quarter.
There are also plans by the various authorities in Asia to explore ways to attract more VC funds, which bodes well for the overall funding ecosystem.
Fintech Potential Fulfilled?
Asia was the only continent to see a fintech funding increase on a quarterly basis while in both North America and Europe fintech funding declined. But unsurprisingly, given the geopolitical backdrop, all three continents covered in the report saw fintech deal count drop.
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