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Hong Kong-based financial services and investments firm Global Investment Bank, along with Capital Trust, released the “State of Global Investments into Asian Fintech: the Impact of COVID-19 and Prospects for 2021.” The report indicates the COVID-19 pandemic put a notable dent in the flow of money into the sector last year. So reports Yahoo! Finance.
According to the report, investments were down substantially in 2020 compared to 2019, dropping by close to $12 billion USD. The report does note, though, that 2021 is expected to see a significant pick-up in activity as the region recovers from the virus.