March 2020 \ Business & Investment \ BUSINESS AND GOVERNANCE
Fintech funding in India doubled to $3.7 billion in 2019: Report

India became world’s third largest financial technology ...

India became world’s third largest financial technology (fintech) centre—behind only the US and the UK—in as fintech investments nearly doubled to $3.7 billion from $1.9 billion in 2018, an Accenture study has said.

The number of deals was up slightly to 198 last year from 193 in 2018, said Accenture analysis of data from CB Insights, a global venture-finance data and analytics firm. The vast majority of funds raised last year in India went into payments startups (58 per cent), while insurtechs raked in 13.7 per cent of the investments and fintechs in lending accounted for 10.8 per cent of the total, the data showed.




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