Whilst the fintech industry has rapidly expanded as whole, mobile companies are the ones that are raising the largest investments, with $1.1 billion being raised across 58 financings.
The report from CB Insights found that this is a continuation of the recent trend that saw the mobile fintech sector raise over $300m in funding in four out of the last five quarters.
The first quarter of 2015 actually marked a 238 per cent increase on the same quarter last year. The funding went from $110m to $372m.
So far in 2015, four out of the largest ten fundraisers were Asian companies, which included Chinese company Enniu Internet Technology, and two Indian companies: One97 Communications and Mobikwik.
One97 Communications, the maker of Paytm, accounted for two of the top three deals, raising a total of $575m. This included a $375m round in the second quarter alone, whilst its first quarter investors included Alibaba, and raised $200m. The company is now valued at $1.8 billion.
Mobikwik, the mobile wallet company, raised $25m in Series B funding. Its investors included the likes of American Express Ventures, Cisco Investments, and Sequoia Capital India.
CB Insights also monitored the companies’ health and momentum. Square, the mobile payments company scored the highest, with a Mosaic score of 940 out of a possible 1000. The company is now valued at $6 billion.
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