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India tops China in fintech funding for Q1

VC-backed deals in China hit a five-quarter low amid P2P clampdown

India enjoyed an uptick in venture capital-backed fintech funding in the first three months of this year.    © Reuters

TOKYO -- India surpassed China as Asia's top market for venture capital-backed fintech funding amid Beijing's clampdown on peer-to-peer lending.

According to a report by U.S. market research company CB Insights, funding for fintech startups in India jumped to $286 million in the first three months of the year, up nearly 27% from the previous quarter.

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