China's fintech scene has reported no venture capital deals for the third consecutive quarter, showing the sector is losing its edge as a drought in appetite for fintech investment continues.

A quarterly update from research firm Forrester showed global fintech investment levels have remained flat quarter-on-quarter, according to data from Venture Scanner. Venture capital investors parted with $7.49bn in the three months to the end of September, the same as the previous quarter and down from $13.02bn a year earlier.