China’s crackdown on online lending has caused a dramatic decline in venture capital-backed funding for financial technology in Asia, which has dropped below $1 billion for the first time in the past five quarters, according to a new global fintech report from CB Insights.

The New York-based big data company found that fintech investment in Asia plummeted from more than $2.6 billion in the fourth quarter of 2018 to $875 million, a 67% decline. During that same time, fintech deals in China slipped from 49 to 29 and fintech funding fell by nearly 90% from the prior quarter to $192 million.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]