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Laxman Pai, Opalesque Asia: The Americas accounted for the largest share of total global VC investment in the Fintech sector at mid-year in H1 2020, according to the Pulse of Fintech H1'20, a bi-annual report on global fintech investment trends from KPMG International.
The US accounted for the vast majority of both total fintech investment in the Americas ($11.9 billion) and VC investment ($8.6 billion) - with large deals including the $1.3 billion reverse mergers of Open Lending, an $850 million raised by Stripe, the $700 million acquisition of RDC, and a $700 million raised by Chime.
Other late-stage companies across fintech verticals also raised large funding rounds, including wealthtech Robinhood (US$430 million) and cryptocurrency company Bakkt (US$300 million).
The Americas saw a steep decline in fintech funding, with $12.9 billion of investment in H1'20. Plummeting M&A investment was responsible for the decline as VC investment in the region was on record pace - with $9.3 billion raised by the end of H1'20.
The payments space was the hottest sector for VC investment in the US. In addition to Stripe and Chime, B2B payments company AvidXchange raised $388 million.
Late-stage companies in other fintech sub-verticals also raised large mega-rounds, including wealthtech Robinhood ($430 million) which raised an additional $200 million in a separate round in mid-August 2020, cryptocurrency firm Bakkt ($300 million), and insurtech Duck Creek Technologies ($23...................... To view our full article Click here
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