Key Asian FinTech investment stats in 2024:
- Asian FinTech deal activity decreased by 59% YoY
- Indian companies secured 21% of deals in the region as they emerged as the Asian FinTech leaders in 2024
- DMI Finance, a pioneering digital financial services provider, secured one of the biggest Asian FinTech deals for the year with a $333m funding round
Asian FinTech deal activity decreased by 59% YoY
The Asian FinTech market witnessed a sharp decline in both funding and deal activity in 2024 compared to previous years.
Total funding dropped to $11.6bn, representing a 70% decrease from $38.8bn in 2023 and a significant 76% decline from the $48.2bn recorded in 2020.
Similarly, deal volume fell to 1,264 in 2024, marking a 59% drop from 3,067 deals in 2023 and a steep 67% decline from the 3,776 deals completed in 2020.
This prolonged contraction in funding and deals highlights the ongoing challenges within the Asian FinTech sector, as investor sentiment remains cautious amid global economic uncertainties and regulatory shifts.
Indian companies secured 21% of deals in the region as they emerged as the Asian FinTech leaders
India emerged as the most active country in the Asian FinTech market in 2024, accounting for 271 deals (21% share), though this was a 58% decline from the 652 deals recorded in 2023.
China, which led in 2023, saw its deal count drop sharply to 204 (16% share), marking a 74% decrease from 781 deals in the prior year.
Singapore moved into the third position with 181 deals (14% share), replacing South Korea, which ranked third in 2023 with 335 deals.
This shift underscores the growing influence of Singapore in the region’s FinTech landscape, even as the broader market continues to contract significantly.
DMI Finance, a pioneering digital financial services provider, secured one of the biggest Asian FinTech deals for the year with a $333m funding round
DMI’s innovative platform leverages advanced technology to deliver consumer finance through POS and cross-sell loans, reaching over 15.2m customers across India via strategic partnerships.
With MUFG‘s support, DMI has scaled its business, established a robust track record in consumer finance, and advanced collaborative efforts, including business synergies with MUFG’s ecosystem companies under the MUFG Openly-connected Digital Ecosystem (MODE) initiative.
This investment further strengthens DMI’s position in the digital lending landscape, accelerates its growth trajectory, and enhances its role in advancing financial inclusion within the region.
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