June 17, 2019
In May 2019, FinTech startups across the globe raised $2.67 billion worth of VC/PE investments across 121 deals. The US heavily dominated the funding charts with $1.59 billion, which was a whopping 59.6% of the global FinTech funding in the fifth month of 2019. The United Kingdom was a distant second with a 12.1% ($325.4 million) contribution, with Canada and Mexico contributing 4.3% ($117.5 million) and 3.9% ($105.5 million), respectively.
In region-specific terms, the Americas dominated global FinTech VC funding in May with 68.8% in contributions in terms of funding value ($1.84 billion) and 35.5% in terms of the number of deals (43).
Europe placed second with 19% in contributions to global FinTech VC funding in May by value ($509.1 million) and 35.5% in terms of the number of deals (43).
Asia placed third with 11% in contribution to global FinTech VC funding in May by value ($295.6 million) and 22.3% in terms of the number of deals (27).
Among the segments, Payments led the VC funding race in May 2019 with $713.25 million in funding across 16 deals. Some of the biggest fundraises from this segment in May: the USA-based Marqeta series E funding of $260 million, the UK-based Checkout series A funding of $230 million, and the Mexico-based Clip series C funding of $100 million.
The segment that held second place in the funding race was Lending, which saw $706.6 million raised across 20 funding deals. SoFi received the highest funding in this segment with $500 million in Private Equity funding followed by Harbin Consumer Finance from China that received $65.37 million in funds.
WealthTech (Retail) was third in the list of segments with the highest VC funding in May 2019 as the startups in this space raised $388.2 million across 15 funding deals. This was majorly contributed by Carta’s series E funding of $300 million. InsurTech and RegTech were the other two among the top five FinTech segments in terms of funding value in October.
InsurTech startups raised $248.8 million across 13 deals. The InsurTech funding charts were led by Singapore-based GoBear with $80 million. A couple of other major deals in this segment were – Netherlands-based CarePay International series A round of $44.8 million and Coalition series B round of $40 million. On the other hand, RegTech startups raised $138.8 million across 10 deals. The funding in this segment was majorly contributed by the US-based Dashlane’s $110 million series D funding.