Just last year in 2015, total investment in companies developing new technologies and applications in the financial services industry (FinTech) exceeded $19 billion and startups raised $13.8 billion in venture capital financing, more than double the amount of investment in 2014 and six times as much investment in 2011. In San Francisco, there have been several noteworthy investments in FinTech startups with incredibly high valuations, such as Ripple and Coinbase, which are startups that were founded only a few years ago. According to a study by a FinTech industry organization, global investment in FinTech from 2010 to 2015 totaled a whopping $49.7 billion.
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The article is originally published on the December 2016 issue of Daily Journal (Los Angeles & San Francisco edition)
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