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Laxman Pai, Opalesque Asia: The overall global fintech funding across M&A, PE, and VC was US$105 billion across 2,861 deals in 2020: the third-highest level of investment in fintech ever said a report.
According to the report by KPMG, except for M&A - which saw deal value drop over 50 percent (from $130 billion in 2019 to $61 billion in 2020) - the overall fintech market proved remarkably resilient in 2020 despite a broad array of uncertainties, from the global pandemic to the US presidential election.
The report, Pulse of Fintech H2'20, revealed that following a short COVID-19 driven pause in H1'20, fintech investment bounced back strongly in H2'20, more than doubling from H1'20 ($33.4 billion) to H2'20 ($71.9 billion).
The US was the dominant benefactor for fintech investment in 2020, while the payments space continued to dominate investment from a sector perspective.
Strong VC investment throughout the year helped buoy overall fintech investment. Global fintech-focused VC investment reached $42 billion in 2020, including $20.5 billion in H2. Both the Americas ($23 billion) and EMEA ($9.2 billion) regions saw record highs of annual fintech-focused VC investment.
US-based wealthtech Robinhood raised the most VC funding in H2'20: $1.3 billion across two rounds ($600 million and $668 million). Several digital banks also raised funding rounds greater than $500 million, including Sweden-based digital bank Klarna ($650 million), UK-bas...................... To view our full article Click here
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