Seven of the world’s most successful 50 fintech companies are now from China, threatening to overshadow the UK as a leading hub for digital start-ups.
ZhongAn, an online insurance group backed by Alibaba founder Jack Ma that raised $931m over the summer to fund its expansion, tops a list compiled by KPMG. Its survey a year ago contained only one Chinese company.
UK peer-to-peer lending platform Funding Circle was ranked fifth, the highest of six British firms.
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