Last year the amount of global investment in Chinese fintech companies reduced dramatically to $4.9 billion, down from $34 billion in 2018 according to data from business intelligence firm Tracxn; in India fintech funding rose to $4.5 billion in 2019, up from $2.3 billion in 2018; there are now 7 fintech unicorns in India compared to 22 in China; the decline in Chinese investment is due to a number of factors including the US-China trade war, the breakdown of the lending industry and a slowing global economy; Naveen Surya, Founder of India’s Fintech Convergence Council, a body representing the Fintechs in the country, said, “India is at a stage where China was a decade back both in terms of growth and investments. As and when the market starts saturating or maturing, the private investor sentiment also declines as the returns in matured companies would be much lower.” IBS Intelligence
