FUNDING for fintechs in the Asia-Pacific grew 9.1 per cent in the second quarter as investors shifted their bets to firms in Australia and South-east Asia. Read more at The Business Times.
Meanwhile, in China, funding fell from US$205 million to US$41 million, with the number of deals halved to 10. Recovering investor sentiment may have been dampened, yet again, by fresh outbreaks of Covid-19, said Ms Goh.
Australian headquartered payment unicorn Airwallex topped the list with a US$158.3 million Series D round in April, making that its largest funding round to date - which also values the firm at US$1.8 billion on a post-money basis. Thailand-based Wave Money saw an injection of US$73.5 million from Jack Ma's Chinese fintech behemoth Ant Financial, which has actively been expanding its global reach outside China.
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