Fintech & Financials Data Insight (Mid-Year 2019)
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Private capital fund managers are increasingly drawn to fintech opportunities in emerging markets, committing USD1.5 billion in disclosed investment in 1H 2019, or nearly half of the USD3.4 billion in broader financial sector investment in that same period. Smaller venture capital deals still account for the bulk of fintech activity, but deal size is growing and the entrance of corporate investors is helping companies achieve scale and driving exits. The Indonesian digital services app Go-Jek acquired Philippines-based payments processor Coins.ph from backers including Quona Capital, BEENEXT, and Rebright Partners in January 2019 for USD72 million as part of its expansion into the Philippines and cashless payments—just one example of the increasing interest in such technology.