Note from the Publisher: This article is such an eye opener, and reminds us YET AGAIN that the US is not first at everything anymore, sadly. Business Insider has talllied up the top 10 fintech VC deals worldwide thus far in 2016, and 5 of the top 10 are in China, and the top two (also in China) amount to more than the other eight. Lu.com is the top with $1.2B in VC funding raised, and the second is JD Finance, wtih $1B in funding raised. The article also points out that Ant Financial’s $4.5B wasn’t counted because it wasn’t VC-backed, but would amount to more than all ten combined.
Second item to note is that InsurTech is starting to work it’s way into the vernacular, with 3 of the top 10 being within the insurance sector.
“Consultancy KPMG and venture capital industry data tracker CB Insights this week published a big report on the state of fintech funding in the second quarter of the year.
The headlines from the report were that fintech funding plateaued globally, with a big drop-off in funding in North America. In Europe, Germany overtook the UK as the fintech funding capital of the continent for the first time ever.”