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.
Funding Circle has perhaps started 2017 in a better way than most. The London-based lending platform that connects small businesses with investors has raised $100m (£82m) in equity investment.
IZettle, Square's European rival, has raised €60m ($63.4m) in new funding and has also appointed a new CFO, Maria Hedengren.
Monese, the mobile-only bank aimed at European customers who may struggle to open a bank account in the UK via traditional means, has raised $10m in Series A funding round.
A group of Chinese companies and state-owned businesses are partnering to create a new $1.5 billion fintech fund that will focus on mergers and acquisitions, and nurturing fintech enterprises in China.