COVID-19 pandemic provided a boost to the fintech ecosystem, and the sector grew rapidly amid the pandemic.

As per the report released by RBSA Advisors, India has emerged as Asia’s biggest destination for financial technology (fintech) deals, leaving behind China in the quarter ended in June 2020.

Same was the case in Q1 2020, where Indian FinTech Sector surpassed China’s FinTech sector in attracting venture capital-backed investments, both in terms of deal value and volume.

Fintech India

India has the highest investment in the fintech segment with around 33 deals valued at $647.5 million, compared to China’s $284.9 million during the quarter ended June 30, 2020, stated the report.

RBSA Advisors, in a statement, said,

“Amid COVID-19, India has seen a 60% increase in fintech investments to $1,467 million in H12020 compared to the $919 million for the same period last year.” 

[Read: A Complete Guide About the FinTech Sector In India]

Bengaluru and Mumbai remain the top two headquartered cities for fintech companies, as per the report. 

The Indian fintech market is expected to reach Rs 6,207 billion by 2025, at a compound annual growth rate (CAGR) of about 22% during the 2020-2025 period.

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