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VC funding for Asia fintech grows to $1.7 bil in 3Q amid North America, Europe decline

Tech

VC funding for Asia fintech grows to $1.7 bil in 3Q amid North America, Europe decline

Jude Chan Published on Wed, Nov 16, 2016 / 8:00 PM GMT+8

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SINGAPORE (Nov 16): Venture capital-backed funding for fintech in Asia grew 50% q-o-q to US$1.2 billion ($1.7 billion) in 3Q16, even as global investments in fintech declined for a second consecutive quarter.

This is according to the Pulse of Fintech quarterly report jointly released on Wednesday by KPMG International and CB Insights.

Asia’s fintech start-ups claimed all of the top four biggest investments in 3Q16.

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