Ant Group was the largest fintech company in the Asia-Pacific region in 2021, with total funding of around 22 billion U.S. dollars. Ant Group is an affiliate company of Alibaba Group and operates Alipay, the world's largest mobile and online payments platform. Fintech, or financial technology, is an emerging industry that uses digital technology to provide financial services.
A good deal of leading fintech companies in the Asia Pacific region is in the digital payment industry. Digital payments transaction value in China reached over 2.3 billion U.S. dollars in 2020. However, increased regulations in China may affect the operations of fintech companies like Ant Group’s IPO being suspended in 2020. Banking and wealth management are also shifting to digital platforms, as Hong Kong now has eight digital banks as of January 2021. Traditional banks are following suit by expanding their digital capabilities.
Major fintech companies in the Asia-Pacific region in 2022, by total funding amount
(in billion U.S. dollars)
*Original value of 33.95 billion yuan was converted to U.S. dollars as of February 24, 2022.
**Original value of 3 billion Malaysian ringgit was converted to U.S. dollars as of February 24, 2022.
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CrunchBase. (February 24, 2022). Major fintech companies in the Asia-Pacific region in 2022, by total funding amount (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 13, 2024, from https://www.statista.com/statistics/1222285/apac-major-fintech-companies-by-total-funding/
CrunchBase. "Major fintech companies in the Asia-Pacific region in 2022, by total funding amount (in billion U.S. dollars)." Chart. February 24, 2022. Statista. Accessed November 13, 2024. https://www.statista.com/statistics/1222285/apac-major-fintech-companies-by-total-funding/
CrunchBase. (2022). Major fintech companies in the Asia-Pacific region in 2022, by total funding amount (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 13, 2024. https://www.statista.com/statistics/1222285/apac-major-fintech-companies-by-total-funding/
CrunchBase. "Major Fintech Companies in The Asia-pacific Region in 2022, by Total Funding Amount (in Billion U.S. Dollars)." Statista, Statista Inc., 24 Feb 2022, https://www.statista.com/statistics/1222285/apac-major-fintech-companies-by-total-funding/
CrunchBase, Major fintech companies in the Asia-Pacific region in 2022, by total funding amount (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1222285/apac-major-fintech-companies-by-total-funding/ (last visited November 13, 2024)
Major fintech companies in the Asia-Pacific region in 2022, by total funding amount (in billion U.S. dollars) [Graph], CrunchBase, February 24, 2022. [Online]. Available: https://www.statista.com/statistics/1222285/apac-major-fintech-companies-by-total-funding/