India overtakes Greater China in private capital fintech deals

India soaked up more than a quarter (27%) of both the aggregate value and a total number of APAC fintech deals in 2019, up 24 and nine percentage points respectively compared to the year prior. In 2019, India not only recorded its largest-ever aggregate fintech deal value ($2.2bn), but also more than doubled Greater China’s total of $960mn – a feat not even achieved when India last beat out Greater China in 2013. According to the report, in India, improving internet penetration, significant digital infrastructure spending, and supportive government initiatives like Digital India have all laid the foundation for a…