There has been an increase in the funds raised by FinTechs around the world, the top 20 FinTechs worldwide raised approximately USD 1.3 billion in the month of March 2024, compared to USD 1.05 billion in February and 0.87 billion in January, the latest data from 1Lattice revealed.
While there was an increase in global fintech funding in March, a total of USD 1.72 billion was raised by global fintechs in February 2024, USD 1.38 in January 2024, USD 1.71 billion was raised by fintechs across the globe in December 2023, USD 2.5 billion. was raised in November 2023 and USD 2 billion in October 2023.
FinTech company ANEXT Bank led the global fintech funding in February with a whopping USD 148 million fundraiser from Ant Group. The lead was followed by Flagstone with USD 136 million in revenue from Estancia Capital Partners, the data highlighted.
ALSO READ: Indian FinTech Fundraising
Next, fintech company Solaris followed with a USD 104 million raise from SBI Group and fintech company Moove followed with a USD 100 million raise from Uber, Mubadala, The Latest Ventures, AfricInvest, Palm Drive Capital, Triatlum Advisors, and Future Africa.
In India, the highest raised in the month was from fintech company Svatantra Microfinance, which raised approximately USD 230 million from Advent International and Multiples. The listing was followed by Avanse which raised about USD 120 million from Mubadala Investment Company and Avendus PE Investment Advisors. After Avanse, FinTechs such as Perfios, mPokket and IDfy raised the most, with USD 80 million, USD 60 million and USD 27 million raised respectively, the data revealed.
A total of USD 7475 was raised by the FinTech sector in 2021, USD 4041 million in the year 2022, from January to December 2022 and approximately USD 2982 was raised in the previous calendar year, from January to December 2023. In CY24, USD 1279 was collected in the first three months (Jan, Feb & Mar’24). |
Following Moove’s USD 100 million fundraising, the lead was continued by FundGuard which raised another 100 million, followed by PPRO with USD 92 million raised and Coast with USD 92 million raised.
According to a latest report by Tracxn, India ranked 3rd globally in 2023 in terms of FinTech startup funding, strengthening its position as a significant player on the global stage.
However, like all other sectors, funding in the FinTech space has also experienced a downward trend in India as well as globally. The FinTech sector received funding of USD 2 billion in 2023, a decrease of 63 percent and 76 percent compared to previous years.
Here is the list of Top Global FinTech Fundraisers:
Company | Latest Funding (million USD) |
Investors |
ANEXT Bank | 148 | Ant Group |
Flagstone | 136 | Estancia Capital Partners |
Solaris | 104 | SBI group |
Move | 100 | Uber, Mubadala, The Latest Ventures, AfricInvest, Palm Drive Capital, Triathlon Advisors and Future Africa |
FundGuard | 100 | Key1 Capital, with Euclidean Capital, Hamilton Lane, Blumberg Capital and Team8 |
PPRO | 92 | Eurazeo, HPE Growth, Sprints, PayPal Ventures, JP Morgan, Citi Ventures and Claret Capital Partners |
coast | 92 | BoxGroup, Avid Ventures, Accel, Insight Partners, Better Tomorrow Ventures, Vesey Ventures, Silicon Valley Bank and TriplePoint Capital |
DCS Card Center | 75 | unknown |
Berachain | 69 | Brevan Howard Digital and Framework Ventures |
Figurative Markets | 60 | Jump Crypto, Pantera Capital, Lightspeed Faction, Distributed Global, Ribbit Capital and CMT Digital |
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