November 11, 2019
In October 2019, FinTech startups across the world raised $2.81 billion worth of VC/PE investments from 166 deals. In terms of MoM trends, there was a decrease of 3.43% from the $2.91 billion raised by FinTechs in terms of VC funding in September 2019. In terms of the number of deals, there was a decrease of 15.3% MoM compared to 196 deals in September.
In region-specific terms, the Americas dominated global FinTech VC funding in October with 42.2% in contributions in funding value ($1.19 billion) and 40.3% in terms of the number of deals (67). Europe placed second with 41.2% in contributions to global FinTech VC funding in October by value ($1.16 billion) and 33.7% in terms of the number of deals (56).
In country-wise terms, the US-led the charge in October with 41.9% in contributions in funding value ($1.18 billion) across 64 funding deals. The UK placed second with 35.1% in contributions to global FinTech VC funding by value ($990.5 million). In terms of the number of deals, the UK contributed 13.8% to the global FinTech VC funding in October. China ($161 million), India ($142.4 million), and Australia ($79.7 million) were the other three of the top five countries in terms of VC/PE FinTech investments in October.
Among the segments, Lending led the VC funding race in October 2019 with $858 million in funding across 25 deals. The top funding rounds from this segment in October 2019 were the UK-based Greensill Capitals’ funding of $655 million and the Australia-based Athena Home Loans’ Series C funding of $479.3 million.
The segment that held second place in the funding race was InsurTech, which saw $344.9 million raised across 13 funding deals. The majority of this was funded by Next Insurances’ Series C funding of $250 million. The other top fundraises in this segment were US-based Thimble funding of $22 million and the UAE-based Bayzat’s Series B funding of $16 million.
The Payments segment placed third in the list of segments with the highest VC funding in October 2019 as the startups in this segment raised $323.6 million raised across 16 funding deals. This was majorly contributed by the UK-based Rapyds’ Series C funding of $100 million and Galileo Financial technologies’ Series A funding of $77 million. Blockchain and BankingTech were the other two among the top five FinTech segments in terms of funding value in October.
Blockchain raised $230.3 million across 17 deals, which was led by Hainan Golden Technologies Series B funding of $141 million and PeerNovas’ funding of $31 million. On the other hand, BankingTech startups raised $211.2 million across five deals. The funding in this segment was majorly contributed by the US-based nCino with $80 million in funding.