Financial technology (fintech) companies in the Asia-Pacific region have raised USD3.33bn over 186 deals in Q1 of 2022, which represents a 44% year-on-year rise in deal value. A report by S&P Global Market Intelligence showed that as of March this year, there were eight transactions with values exceeding USD100m. These megarounds contributed 36% of total funds raised during the quarter. In the previous quarter, there were 11 mega-rounds that accounted for 55% of the dollar amount raised. India-based fintechs dominated in Q1, accounting for 42% of total deal value and 24% of volume in the region. The three most heavily funded lenders include India-based Oxyzo and Credavenue, as well as Singapore-based Funding Societies.
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