Fintech companies set new funding record; Asia sees biggest jump in deals in 2018

The 120% increase in total funding was mostly due to 52 deals that saw investments over $100 million and made up for $24.88 billion, the bulk of the total amount. Venture capital-backed fintech companies set a new record last year with investors across the world putting a whopping $39.57 billion, up by 120% from the preceding year, showed data published by research firm CB Insights recently. In terms of deal volume, the investments were made across 1,707 deals. This is 227 deals above 2017 number of 1,480 deals, Reuters quoted CB Insights. The 120% increase, according to research data, was mostly due to 52 deals that saw investments over $100 million and made up for $24.88 billion, the bulk of the total amount. 35% of the total investments in fintech companies last year was held by $14 billion in funding raised by Ant Financial, the payment affiliate of China’s Alibaba.