Global venture investment in FinTech grew by 11% to $17.4 billion in 2016 according to data provided by PitchBook. It is the first time China with $7.7 billion of investment outpaced the US with $6.2 billion. Ant Financial, formerly Alipay and a subsidiary of Alibaba, led 2016 with a whopping $4.3 billion venture round, the largest in FinTech venture history followed by two other Chinese Firms Lufax.com and JD Finance. The Chinese appear to be playing a different game in FinTech – namely one involving great scale. FinTech investment in the UK was down by 34% to $783 million, mainly attributed to the uncertainty related to Brexit.

Source: Forbes February 17, 2017 12:08 UTC