India was Asia’s FinTech frontrunner for deal activity in Q1 & How IMTF uses a hybrid AI approach to financial crime

Scalable, transparent, trusted: IMTF’s hybrid AI approach to financial crime - From its headquarters in Switzerland and operations across the globe, IMTF is redefining how financial institutions combat financial crime—leveraging a hybrid AI approach that combines real-time analytics with explainable, rules-based compliance.

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Research highlight

India was Asia’s FinTech frontrunner for deal activity with 21% of all deals in Q1 2025

Key Asian FinTech investment stats in Q1 2025:

• Asian FinTech deal activity dropped by 64% YoY during the first quarter
• India secured the position of Asia’s FinTech frontrunner for deal activity with 21% of all deals in the quarter
• Cashfree, a leading Indian payments startup that processes over $80bn in annual transaction volume, closed one of the biggest Asian FinTech deals of the quarter with a $53m Series C equity funding round

Asian FinTech deal activity dropped by 64% during the first quarter

In Q1 2025, the Asia FinTech market showed a partial recovery in funding compared to the previous quarter, though deal activity remained well below early 2024 levels.

The region recorded 221 funding rounds, marking a sharp 64% decline from the 617 deals completed in Q1 2024. However, total funding reached $4.3bn in Q1 2025, down only 13% from the $4.9bn raised in the same period the year before.

This indicates that while the number of deals has decreased significantly, the average deal size has likely increased, reflecting a shift towards fewer but potentially more mature or well-capitalised investments.

India secured the position of Asia’s FinTech frontrunner for deal activity with 21% of all deals in the quarter

India emerged as the most active FinTech market in Asia in Q1 2025, completing 46 deals (21% share), overtaking China, which had led in Q1 2024 with 147 deals (24% share) but did not feature among the top three markets in the latest quarter.

Israel followed with 28 deals (13% share), and Japan recorded 25 deals (11% share). In contrast, Singapore, which had seen 79 deals (13% share) in Q1 2024, also dropped out of the top ranks.

The change in regional activity suggests a realignment in FinTech investment focus within Asia, with increasing attention on markets such as India, Israel and Japan amidst a broader slowdown.

Cashfree, a leading Indian payments startup that processes over $80bn in annual transaction volume, closed one of the biggest Asian FinTech deals of the quarter with a $53m Series C equity funding round

The round was led by Krafton and Apis Growth Fund. Known for its robust suite of payment solutions including PayToPhone, RiskShield, and instant settlements across 180+ payment methods, Cashfree has solidified its position as a one-stop payment platform for major clients like Swiggy, Zepto, and Bajaj Finance.

With fresh capital in hand and a valuation of $700m, the Bengaluru-based company is doubling down on its international ambitions, targeting high-growth markets across the Middle East such as the UAE, Saudi Arabia, and Egypt.

As one of the first firms authorised by India’s central bank to operate as a payment aggregator for both domestic and cross-border transactions, Cashfree continues to scale its global footprint while delivering high-speed processing capabilities of up to 12,000 transactions per second and bolstering security with innovations like SecureID, which has enabled over 1 billion identity verifications to date.

Weekly FinTech deal roundup

Close to $900m raised across all FinTech deals this week – A total of $873m was raised across all the 20 deals reported on this week by FinTech Global. Read the full story here.

InsurTech news

• IntellectAI launches Magic Placement to transform insurance document comparison with AI - IntellectAI has launched Magic Placement, a new AI-driven tool designed to streamline insurance policy comparison for agents, brokers, and wholesalers. Read the full story here.
• Earnix joins UK insurance trade body BIBA to support broker innovation - Earnix, a global provider of intelligent, AI-driven decisioning solutions for the insurance sector, has joined the British Insurance Brokers’ Association (BIBA) as an associate member. Read the full story here.
• Vietnam’s PTI adopts Akur8’s machine learning platform to modernise pricing strategy - Akur8, a Paris-based InsurTech, has partnered with Post Telecommunication Joint Stock Insurance Corporation (PTI), one of Vietnam’s leading non-life insurance providers, to enhance its actuarial capabilities. Read the full story here.

WealthTech news

• How can wealth management be empowered through data ownership? - Data is a critical part of wealth management and investors are fully aware of this, but should they be more empowered to take control of their data? Read the full story here.
• Why portfolio aggregation is a game-changer for modern wealth managers - Comprehensive portfolio aggregation is increasingly seen as a vital capability in today’s wealth management landscape. Read the full story here.
• Empowering clients and scaling compliance with digital financial tools - The FCA’s Consumer Duty, introduced in July 2023, has become a driver of change across UK financial services. Its goal—to ensure good outcomes for retail customers—has prompted firms to reassess how they serve clients, prioritising fairness, value, and transparency. Read the full story here.

RegTech news

• Why integrated compliance solutions are leading the fight against FinCrime - As financial crime siphons off $1.6tn annually from the global economy, according to the United Nations Office on Drugs and Crime, integrated compliance solutions are emerging as the linchpin in the battle against illicit finance. At the forefront of this revolution is MCO (MyComplianceOffice), a Dublin-based FinTech powerhouse led by CEO Brian Fahey. Read the full story here.
• Why better screening data is vital for compliance in a high-risk world - New research from LSEG reveals that financial institutions and designated non-financial businesses and professions (DNFBPs) are increasingly struggling to manage compliance risks due to poor-quality and outdated screening data. Based on feedback from 400 senior compliance leaders, the report underlines the importance of timely and accurate data in today’s complex regulatory environment. Read the full story here.
• Is adverse media screening RegTech’s quiet advantage? - In an age of heightened financial scrutiny, RegTech is rapidly reshaping compliance norms. Yet, one of its most potent tools—adverse media screening—often flies under the radar. As regulators demand more, firms discover that in quiet lies a powerful compliance edge. Read the full story here.

CyberTech news

• OX Security lands $60m Series B to advance AI-driven AppSec innovation - Application security company OX Security has announced the close of a $60m Series B funding round to support its continued growth and innovation in the cybersecurity space. Read the full story here.
• Doppel lands $35m funding round to boost AI-powered digital risk platform - AI-powered cybersecurity company Doppel has raised $35m in a Series B funding round to strengthen its social engineering defence platform for enterprises. Read the full story here.
• AI code review platform CodeAnt AI raises $2m to speed up software development - CodeAnt AI, a US-based software development startup, has raised $2m in seed funding to accelerate code reviews using artificial intelligence. Read the full story here.

ESG FinTech news

• Sustainable finance platform Goparity secures €2.9m to scale ethical investing - Portuguese sustainable finance platform Goparity, which also operates in Spain and Canada, has raised €2.9m in a new funding round aimed at bolstering its international expansion and ethical investing mission. Read the full story here.
• Financial services see progress on deaf accessibility, but more inclusion needed - As Deaf Awareness Week 2025 gets underway, the Lending Standards Board (LSB) has released its annual review into how the UK financial services sector is addressing the accessibility needs of deaf and hard of hearing customers. Read the full story here.
• ESMA consults on draft standards to regulate ESG rating providers across Europe - The European Securities and Markets Authority (ESMA) has opened a public consultation on proposed rules aimed at regulating ESG rating providers. Read the full story here.

Other FinTech news

• Tietoevry: Generative AI still underused in Nordic enterprises - Despite significant industry buzz around artificial intelligence, Nordic companies remain hesitant to fully embrace its potential. According to a new study by Tietoevry Create, only 17% of IT decision-makers in Finland and Sweden believe AI is currently making a significant commercial impact. Read the full story here.
• Corlytics becomes first RegTech to earn ISO 42001 certification for AI governance - Corlytics has become the first dedicated RegTech company to achieve ISO/IEC 42001:2023 certification, marking a major milestone in AI governance for the financial technology sector. Read the full story here.
• How can WealthTechs seamlessly embed investing into everyday financial apps? - WealthTech has transformed the modern world of investing. No longer is wealth management locked off to the wealthy. Tools are now available that can support investors at whatever life stage they are in and build portfolios that can support their financial situation and plan for the future. Read the full story here.