Asia Receives a Major Chunk of Fintech VC Funds in Q3, 2016
The emerging fintech and cryptocurrency industry in Asia received a major portion of total VC funds during the thrid quarter of 2016. Asia is an emerging economic power, thanks to the growth of some of the major countries in the continent. Staying true to its economic progress, the continent is also turning out to be an attractive market for the fintech industry. According to a recent report published by KPMG – one of the “big four” audit firms in the world, the Asian continent was the largest recipient of venture capital in the fintech and cryptocurrency technology sector during the third....
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China is on track to beat its 2016 FinTech capital venture $10 billion funding record as Chinese companies continue to set the pace and raise funds to expand their digital services. In a report from Bloomberg, Accenture Plc said that the investment areas focused on will most likely include artificial intelligence, big data, blockchain, and cybersecurity. According to Albert Chan, managing director of China financial services at Accenture, more money is expected to go into investment services, online lending, and robo advisors. Over the last two years there has been significant growth in....