An overflowing 4.5 billion USD was invested in Hong Kong into financial startups by the investors, placing Hong Kong at the center of the global’s tech revolution. The data from KPMG and CB Insights revealed, the $19.1 billion worldwide increase of full asset into peer-to-peer lenders, internet insurers and payment services company. Investments in Fintech companies in China and India increased quickly, using their mobile phones and clients in China and India buys everything, from insurance transactions to paying for goods. The movement is expected to continue to increase
Data revealed investments in China boost to $2.7 billion, captivated close to three times the investments in UK in the period between 2014-2015. “Naturally, because growth in the region is quite high, you should expect to see continued investment,” said Zennon Kapron, founder of Shanghai-based financial industry research firm Kapronasia. The huge populations and endorsement percentage of new technologies in China and India is what makes them a productive base for Fintech companies searching to rattle financial institutions, insurance companies, and credit card operators. Several of the people in India do not have bank accounts and only 252 million have access to the internet, likely to turn out well as a growth market for companies looking for leverage technology to attach financial services and products, especially through mobile phones. Harish HV, Indian-based partner at Grant Thornton, said “The outcome of the growing number of people getting to the new technologies in India are funds flowing into the Fintech solutions providers in the near-term at least.
The world’s top two Fintech company are in China, Lufax – an online lending platform, and Zhong – an online Property and Casualty Insurance. Lufax closed a $1.2 billion funding round in January, while Alibaba Group Holding Ltd’s finance arm, Ant Financial Services Group, is looking to boost up to $3 billion, setting the stage for another progressive year in 2016 in the region. One97 Communications India’s mobile payments services firm, came in sixth among global Fintech giants, emphasizing the potential value investors place on such firms in the region.