Incredible amounts have been invested in Asian startups this year, last week alone, Flipkart, India’s largest e-commerce company, raised $700m, boosting its valuation to over $15 billion. Last month, Snapdeal secured a $500m investment round, as did the mobile payments group Paytm.
Given these staggering amounts, it should come as no surprise that nearly half of Asia’s top 20 startups are e-commerce related.
The infographic below, created by Tech In Asia with data compiled by CB Insights, shows just how significant Asia’s burgeoning FinTech scene has become globally.
Flipkart’s $3.1 billion funding today has pushed the company into second place in Asia and sixth in the world, just behind the Chinese smartphone maker Xiaomi, which itself has expanded its reach to financial services this year with an interest-earning mobile wallet. It’s huge $45 billion valuation ranks it second in the world.
Snapdeal, Flipkart’s main rival in India, also makes it onto the list to ninth place and 29th globally.
Metromile has just landed nearly $200m in Series D funding for its auto insurance payments platform.
London fintech startup Curve has picked up another $3m in funding to replace all the different payment cards in your wallet with just one.
Signifyd, the company that provides fraud protection for e-commerce businesses, has raised $19m in a funding round with investors including American Express Ventures, Menlo Ventures and Triple Point Capital.
Fintech will be a key focus for Spotify and iZettle-backer Northzone as it announces a brand new €300m venture capital fund to invest in early-stage European startups.