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Laxman Pai, Opalesque Asia: The US set a new record for fintech funding in 2019, with $59.8 billion in investment compared to $58 billion in 2018, according to the 'Pulse of Fintech', a report by KPMG.
According to the report, the top deals in the US in H2'19 included the $22 billion acquisition of First Data by Fiserv, the $3.5 billion acquisition of Assurance IQ by Prudential, and the $850 million acquisition of Axioma by Deutsche Boerse.
Corporate investment in the US was very strong in 2019, with corporates investing $6.9 billion in fintech - a significant increase compared to $5.9 billion in 2019.
Meanwhile, fintech investment in the Americas region dropped slightly in 2019 with $64.2 billion in fintech investment compared to $65.5 billion in 2018.
While the US accounted for a large majority of the fintech investment seen in the Americas, other countries also attracted large deals, including the $821 million acquisition of Canada's Solium by Morgan Stanley (rebranded Shareworks by Morgan Stanley) and the acquisition of Argentina-based Prisma Medios de Pago for $725 million.
Despite the small decline in annual funding, fintech VC investment in the Americas achieved two consecutive quarterly record highs in Q2'19 ($5.6 billion) and Q3'19 ($5.9 billion), the report pointed out.
In terms of fintech funding, Brazil saw a very strong increase with $890 million invested compared to $567 million in 2018, said KPMG.
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