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Alternative Market Briefing

Fintech investment in China slumps: KPMG

Friday, August 09, 2019

Laxman Pai, Opalesque Asia:

The venture capital and private equity investment into fintech companies in China amounted to $2.5bn across 32 deals in the first half of 2019, down from the $16.3bn across 77 deals seen in the first half of 2018.

According to the Pulse of Fintech H1 2019, published by KPMG, the lack of megadeals in the country was the main driver of the decline, which affected total investment into fintech across Asia Pacific - dropping from $18.3bn across 256 deals in the first half of 2018 to $3.6bn across 102 deals in the first half of this year.

As per the report, the fall in China and Asia reflected the wider trend globally, with $37.9bn invested into global fintech across 962 deals, falling from $62.9bn seen in the first half of 2018 across 1421 deals. This was also attributed to a pullback in mega deals.

Despite this, China still had a strong presence in the ranking of top 10 Asia Pacific fintech deals, taking four spots. NCF Wealth Holdings Limited's $2bn merger with Hunter Maritime Acquisition Corp topped the deals in the region, followed by the $100m Series F financing for information services provider Shanghai Dianrong Financial Information Services, the $94.8m Series A financing for consumer finance firm Wiseco Technology, and crowd funding platform Shuidichou's $74m Series B financing.

Fintech market maturing and evolving in China

KPMG said that relatively quiet fintech investment activity in the first half of 2019 is in p......................

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