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.
Stripe, the biggest fintech company in the US, is about to consolidate its position at the top by almost doubling its valuation to $9.2 billion following Series D funding.
Payoneer, the international money transfer company, has completed a strong funding round, raising $180m through equity financing.
Remitly, an independent US-based remittance company, has received $38m in new funding through equity and debt financing from IFC and Silicon Valley Bank.
Metromile has just landed nearly $200m in Series D funding for its auto insurance payments platform.