China-based investment expert Edward Tse, CEO of Gao Feng, says financial technology companies are thriving in China
With the Chinese government keen to encourage innovation the fintech revolution is quickly gaining pace. Financial technologies companies backed by Chinese venture capital raised $2.4 billion in the first quarter of 2016, according to accounting firm KPMG.
This represented a 49 per cent share of global fintech investment in the period, bigger than that of North America and Europe combined.
Ant Financial Services Group, Alibaba Group Holding’s fintech affiliate, itself raised $4.5 billion in April, making it the largest round of funding for a fintech company in the world. [Read more…] about ‘Chinese companies lead the way in fintech innovation’