Asia experienced a solid increase in fintech investment in the first quarter, but the U.S. still leads the pack.
Investment into Asian-based fintech companies surged on the back of a quartet of mega-round deals. In excess of $2 billion was pumped into Asian fintech companies during the first quarter, according to the latest global fintech report from CB Insights.
India and Southeast Asia picked up a spate of transactions in the first quarter which saw alternative lending deals shift away from China. In India, small business lending firm Lendingkart took in $87 million.
Bengaluru-based online lending startup Avail Finance raised $17.2 million in Series-A round from investors led by venture capital firm Matrix Partners.
In Southeast Asia, Singapore-based robo adviser Stashaway took in S$7.0 million ($5.3 milliom) in a Series A round of funding. The proceeds will be used to develop the investment service and technology, as well as to launch the robo adviser overseas into new markets to tap new customers.
