🐘 India 🇮🇳 overtakes China 🇨🇳 to become Asia's leading fintech market by deal volume

🐘 India 🇮🇳 overtakes China 🇨🇳 to become Asia's leading fintech market by deal volume

A standout case is Cashfree, an Indian payments startup that processes over $80 billion USD in transactions annually. This quarter, the company closed one of Asia’s largest fintech deals, securing $53 million USD in a Series C funding round.

➡️ At the regional level, India accounted for 21% of all fintech deals during the period — despite a 64% year-over-year decline in activity across neighboring countries.

➡️ Although the total number of deals decreased, the average deal size grew, indicating a shift toward more mature or higher-value investments.

➡️ The top 3 in the regional ranking:

1️⃣ India 🇮🇳 (21%)
2️⃣ Israel 🇮🇱 (13%)
3️⃣ Japan 🇯🇵 (11%)

China and Singapore 🇸🇬, which recorded 79 deals in Q1 2024 (13%), were not among the top three.

#news #India #Asia #China

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