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Funding for Asia's fintech startups dips in Q2

SoftBank 'ripple effect' fuels trend for fewer but bigger venture capital deals

The year-on-year decline in fintech funding is due largely, but not entirely, to Alipay operator Ant Financial raising $14 billion last year.

TOKYO -- Venture capital-backed funding of Asian fintech startups slowed sharply in the quarter through June, with deal numbers hitting a five-quarter low and deal value falling 93% on the year.

According to a recent report by U.S. market research company CB Insights, fintech funding deals in Asia dropped nearly 50% from a year ago, totaling 82 deals.

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