According to a recent report China’s 8 fintech unicorns have raised $9.4B in funding and have a combined valuation of $96.4B. That dwarfs the 14 unicorn fintech companies in the U.S., which have raised $5.7B and own a combined valuation of $31B. The rest of the world is home to 5 fintech unicorns, which have raised $1.8Band have a combined valuation of $11.5B.
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China’s dominance in fintech extends to its ‘unicorns’
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The four biggest fintech unicorns in the world are Chinese, targeting the country’s roughly 500 million smartphone users. The biggest is Hangzhou-based Ant, Alibaba’s payment unit, which has raised $4.5 billion in funding and has a valuation of $60 billion, according to Visual Capitalist. The second biggest is peer-to-peer lender Lufax, based in Shanghai, which has raised $1.7 billion in funding and has a valuation of $18.5 billion.
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