Funding in the fintech sector hit record high in 2021


By FintechNews staff

-The fintech sector is booming with a record US$91.5 billion in global funding so far this year. That’s almost twice as much as what the sector collected in the entirety of 2020.
-Under pressure to increase the velocity of their digital transformation and to enhance their digital capabilities, corporates were particularly active in venture deals, participating in close to $21 billion in investment over nearly 600 deals globally, with many realizing it’s quicker to do so by partnering with, investing in, or acquiring fintech.
-The CB Insights report shows Tiger Global Management and Coinbase Ventures lead the pack among fintech investors with 24 and 22 deals in the third quarter, respectively. The U.S. remains the region with the most fintech deals, gaining ground during the last quarter to make up 38% of global fintech deals, followed by Asia with a 26% share.
-Forty-two fintech companies became unicorns in the third quarter alone, making up a third of total unicorn births, according to CB Insights’ State of Venture Report.
– Big deals included $3.4 billion raised by Robinhood, $600 million raised by Stripe, and $500 million raised by Better, ServiceTitan, and DailyPay.
-Funding for financial technology (fintech) startups in ASEAN more than trebled to hit a record US$3.5 billion in the 9-month period in 2021 compared to full-year 2020, according to a report.

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