Daily research from FinTech Global Asian FinTech market set for 42% drop in deal activity as investors focus on larger investments The Asian FinTech sector followed the global trend of decline in H1 2024. Deal activity witnessed a substantial drop, with 513 deals completed, a decrease of 47% compared to the 958 deals recorded in H1 2023. Funding also saw a significant decline, with FinTech companies in Asia raising only $7.4bn in H1 2024, a reduction of 68% from the $23bn raised in the same period last year. If deal activity continues at the rate recorded in the first six months of the year, the projected total for 2024 would be 1,026 deals, a 42% from the 2023 total of 1,757 deals. Despite the overall slowdown, the average deal size in the Asian FinTech market did increase. In H1 2024, the average deal value reached $14.4m, reflecting a 20% rise compared to the $12m average deal value in H1 2023. This suggests that while there are far fewer deals overall, investors are being more selective, focusing on larger investments in Asian FinTech firms with higher growth potential or established market positions. Svatantra Microfin Pvt. Ltd., an Indian based technology driven microfinance company secured the biggest deal in Asia with a $230m private equity investment deal. The company provides affordable financial and non-financial solutions to women entrepreneurs, it has emerged as one of the most differentiated process and technology-driven microfinance entities in India. Svatantra, along with its wholly owned subsidiary, Chaitanya, has a team of more than 17,000 employees and serves over 4.2m customers across 20 states. Svatantra offers microcredit at affordable rates and has been a first mover and shaker of the industry by being the first MFI with 100% cashless disbursements since inception, and also the first to roll out an extensive customer-facing app that is conducive to client social behaviours. In the first half of 2024, India continued to dominate the Asian FinTech sector with 149 deals, representing 29% of all funding rounds, although this was a decrease from 262 transactions (27% share) completed in H1 2023. China maintained its second position with 85 deals, holding steady at a 17% share, down from 168 deals during the same period the previous year. Singapore secured the third spot with 75 deals, accounting for 15% of the total, a slight drop from 138 deals (14% share) in H1 2023.
FinTech Global
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FinTech Global is the world’s leading provider of FinTech information services, B2B media products and industry events. We inform, promote and connect FinTech buyers, sellers, investors and innovators worldwide. We serve a network of over 300,000 FinTech professionals from market-leading organizations – financial institutions, technology innovators, corporate investors, venture firms and expert advisory firms. We enable them to get the information they need to make better business decisions and to connect and engage with the people and organisations they want to do business with. Our services and products include: FINTECH NEWSLETTERS & NEWS WEBSITES Breaking news, exclusive features and leadership insights. FINTECH RESEARCH Industry reports on markets, sectors and technologies; company profiles, buyer guides, solution provider listings and customised research and consulting. FINTECH DATA & INTELLIGENCE Superior data, independent insights and powerful analytical tools FINTECH MARKETING SOLUTIONS High impact buyer awareness, market promotion and lead generation via unparalleled global distribution channels. FINTECH EVENTS Industry-leading conferences, forums and webinars and exclusive invitation-only roundtables and briefings in RegTech, InsurTech, WealthTech, CyberTech, PayTech, AI & ML, Financial Crime,
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https://fintech.global
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tifgroup has teamed up Air Doctor to ensure that travellers can quickly and easily access medical care while abroad. Read more here: https://lnkd.in/dcDG5eJR #Insurance #InsurTech #Travel Lauren Stuttaford Jenny Cohen Derfler
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FinTech Global news you cannot afford to miss from yesterday 👉 The headlines set to dominate RegTech in H2 👉 The role of AI in transforming KYB processes for AML professionals 👉 Why effective claims management is crucial for insurance companies 👉 Evolving strategies in transaction monitoring for enhanced financial security 👉 Flagright’s AI technology powers up One Money Mail Limited for secure transfers COMPLY Michael J. Stanton Joseph Ibitola Baran Ozkan, CAMS Madhu G Nadig Comarch RelyComply Reece Turner Bradley Elliott
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Ushur, a leading provider of AI-powered Customer Experience Automation™ (CXA), has announced that Mike Price has joined its executive leadership team as Chief Revenue Officer (CRO). Read more here: https://lnkd.in/dT_kJ5_W #Insurance #InsurTech #CXA Simha Sadasiva Yvonne Daugherty Alison Lyne
Ushur hires former Oracle and ForgeRock executive as new CRO
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We caught up with James Gosling, Senior Solutions Engineer at Smarsh at the Global RegTech Summit in London this May 💡 James spoke to us about the role human expertise can play alongside AI within RegTech solutions After our sold out event in London, topics like this and more will be appearing at our US edition in New York this September Sign up now via the link and join us at the Global RegTech Summit USA - https://lnkd.in/gBeAPjZg #GRTSUS24 #FintechBytes
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📢 Meet the latest disruptor joining the Global InsurTech Summit USA 📢 We are delighted to be partnering with Symphony, who are a Silver Sponsor🥈 at the Global InsurTech Summit USA in New York this September Register via the link to hear from the industry leaders shaping the #InsurTech landscape of tomorrow - https://lnkd.in/ezAs3DQF #GINSUS24 #Insurance Darah Wolf
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Morgan Stanley Expansion Capital has acquired a stake in Sokin, a UK-based payments business specialising in international transactions. Read more here: https://lnkd.in/eqvp4CNZ Vroon Modgill
Morgan Stanley Expansion Capital partners with Sokin to transform payments
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Flagright, has announced One Money Mail Limited, a EMI specializing in money transfers between the United Kingdom and Poland, as its new customer. Read more here: https://lnkd.in/gT8qcfip Baran Ozkan, CAMS Madhu G Nadig Joseph Ibitola
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Claims management is a vital function within the insurance industry, focusing on the resolution and processing of claims made by policyholders. By optimising this process, insurers aim to handle claims more swiftly, reduce instances of fraud, and maintain regulatory compliance. Comarch delves deeper into what makes claims management so critical for insurers. Read more here: https://lnkd.in/dZ7h863a #Insurance #InsurTech #ClaimsManagement Clément Maertens Bradley Jones Comarch Benelux Comarch UK
Why effective claims management is crucial for insurance companies
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It's been an exciting first half of the year with more of our sold out in-person events and packed networking areas, we're excited to share our calendar for the remainder of 2024 of senior-level events across InsurTech, RegTech, WealthTech and AI. So far this year we've hosted 6 oversubscribed events in both Europe and the United States, attracting 3,500 senior-level professionals and generating hundreds of leads for our sponsors, and we're excited to present to you 5 more industry leading events taking place in the second half of the year. Follow the links to see how you can register for or sponsor these events - Global InsurTech Summit USA: https://lnkd.in/ezAs3DQF Global RegTech Summit USA: https://lnkd.in/gBeAPjZg Global WealthTech Summit: https://lnkd.in/gaxqdvx AI FinTech Forum: www.AIFinTechForum.com AML & FinCrime Tech Forum: www.AMLTechForum.com #GINSUS24 #GRTSUS24 #GWTS24 #AIFinTechForum24 #AMLTechForum24