KPMG reports that fintech investment in Asia was $3.85bn in 2017, a significant drop from the more than $10bn invested in 2016; China was the biggest reason for the drop as the country saw only $1.3bn of investment in 2017; “Increasing government controls and regulations over fintech in China have kept many investors on the bench during 2017,” the report explained; one optimistic data point was corporate investment jumped in Q4 to 31 percent of overall deals. Source.
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Asia/Pac
The China market is bigger than the US and they tend to move much faster; Emmanuel Daniel of The Asian Banker compares China today to 1971-1984 in the US when regulation was just beginning to be put in place; Credit China is an example of a successful P2P lender in China, now valued at $3 billion; Yew Kiat Phang speaks about the company, sharing how they initially were a traditional lender, constrained by capital and customers with single revenue streams; the company took a broad approach to fintech, first obtaining a third party payment license; company reported $12 billion in 2016 on their P2P lending platform; their payment gateway saw $30 billion in flow for 2016; Yew Kiat Phang shares other details on the company in the video. Source