A new report from Accenture points to a precipitous decline in Chinese fintech investment in 2019.
According to Accenture China’s fintech investments totalled USD$1.9 billion in 2019, for an 83% YoY drop compared to the figure of $25.5 billion for 2018.
By sharp contrast fintech investment the US leaped 54% in 2019 to reach $26.1 billion, putting it in first place.
UK fintech investment increased 63% to reach $6.3 billion, while other major economies also saw robust increases, including Brazil, Germany and India.
China’s fintech investment plunge contributed to a 3.7% decline in global fintech investment in 2019.
Global fintech investment in 2019 totalled $53.3 billion, spread across 3,472 deals.
2019 nonetheless was the second-highest year for fintech investment since 2013, when investment reached $55.3 billion across 3,251 deals.