Despite a slight drop in fintech funding to $4.1 billion, India emerged as the leading fintech investment destination in the Asia Pacific region in 2024. Among the region’s major economies, both China and India experienced declines, but India still attracted the highest capital inflows. India’s fintech investments dipped from $4.4 billion to $4.1 billion, whereas China saw a dramatic plunge from $2.6 billion to just $687 million between 2023 and 2024.
Interestingly, the largest fintech deals in the Asia Pacific region occurred outside India and China. One of India’s most significant transactions was Mitsubishi UFJ Financial Group’s $334 million investment in DMI Finance. Other notable Indian fintech companies that secured funding in 2024 included Niwas Housing Finance, Mintifi, and Finova Capital.
Australia’s fintech sector witnessed a remarkable surge, with investments more than doubling from $839 million to $2.1 billion. Meanwhile, Japan’s fintech investments remained stable at $662 million. Across the entire Asia Pacific region, total fintech funding fell to $11.4 billion in 2024, marking the lowest level since 2014.
This decline was attributed to various factors, including geopolitical uncertainties amid global political shifts, corporate cost-cutting measures, and China’s continued fintech sector slowdown. While the payments sector remained a strong investment focus, lending-based fintech solutions faced ongoing struggles, as highlighted by KPMG.
On a global scale, fintech investments totaled $95.6 billion in 2024, the lowest since 2017, reflecting broader economic challenges impacting the sector worldwide.
