February 2018 FinTech Funding – InsurTech, Lending Topped the Charts

In February 2018, FinTech startups around the world raised $1.4 billion worth of VC investments across 125 deals, a 17.21% YoY growth in the total funding raised when compared to February 2017.

However, in terms of MoM growth, in February 2018, the funding value was 45.3% lower than the $2.56 billion raised in January 2018.

The US heavily dominated the funding charts with $961 million, which was a whopping 69% of the global FinTech funding in February. India was a distant second with a 9% ($130 million) contribution, with Canada and Japan contributing 6% ($81.5 million) and 3% ($41.3 million) respectively.

InsurTech startups led the funding race with $285 million in funding across 24 deals. There were some large deals in this segment, with key players such as Collective Health (raised $110 million) and Bind (raised $60 million) raising a good amount of funding.

Lending, continuing the trend from the previous month, was a close second as it went neck to neck with InsurTech. Lending startups raised $267 million in funding across 16 funding deals, thus contributing 19% to the global FinTech funding in February 2018. Some large deals in this segment were C2FO (raised $100 million), LendingKart (raised $87 million), and Roostify (raised $25 million).

The payments segment, which was uncharacteristically low-funded in the previous month, came back in the game as it stood third in February 2018 with $195 million in funding raised, registering a 116% MoM growth from January 2018. Companies such as YapStone (raised $70 million) and Nayax ($24.5 million) raised a good amount of funding.

Investment platforms, B2B FinTech and AI/ML/NLP were the other three key segments that garnered substantial interest from investors.

In the Investment Platforms space, Wealthsimple raised $50 million, while WealthNavi and Stash raised $41.3 million and $37.5 million respectively. In the B2B FinTech space, Apttus and Tipalti raised $75 million and $30 million respectively.

Similarly, in the AI/ML/NLP space, SparkCognition, Another Brain, and ATN raised $56.5 million, $12.3 million and $10 million respectively.