Global funding in the fintech sector followed the same trend as VC investment and plummeted last year. Fintech saw its funding drop 50% year-on-year in 2023 to $39.2 billion, with deal volume falling by a significant 38% to 3,801-its lowest level since 2017, according to the State of Fintech 2023 Report by CB Insights.
The U.S. accounted for a significant 41% of deals during the year, driven by the volume of early-stage deals rising to its highest level in over a decade. Meanwhile, Asia's share of deals was down by 3.3 percentage points to 20%. The annual mergers and acquisitions exit volume, at 612 deals, remained higher than it was any year prior to 2021, while the fourth quarter witnessed the birth of eight fintech unicorns, marking a six-quarters high, with Saudi Arabia's Tabby ranked as the highest valued new unicorn at $1.5 billion, followed by Employment Hero from Australia with a $1.4 billion valuation.
Denne historien er fra April 2024-utgaven av Forbes Middle East - English.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Denne historien er fra April 2024-utgaven av Forbes Middle East - English.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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