Fintech firms in the Asia Pacific received $5.1 billion in funding during the first half of 2023, down from $6.7 billion in the same period the previous year, as reported by KPMG. This decline reflects a challenging funding landscape in the region, compared to $36.1 billion in the Americas and $11.2 billion in Europe, the Middle East, and Africa (EMEA).
In terms of the number of funding deals, the APAC region completed 432, while the Americas recorded 1,011 and EMEA had 702.
KPMG’s report, “Pulse of Fintech H1’23,” compiled data on venture capital, private equity, and M&A deals in the first half of 2023 across various fintech segments. The largest deal in the APAC region was $1.5 billion raised by Chongqing Ant Consumer Finance, a unit of China’s Ant Group.
Despite the slowdown, the report highlights the enduring potential of the fintech sector in Hong Kong, mainland China, and Asia, particularly in harnessing artificial intelligence-generated content (AIGC) for innovations in insurtech, creditech, and wealthtech.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}