FinTech

October 2018 FinTech VC Funding – Lending, B2B FinTech & Cryptocurrency Top the Charts

MEDICI

In October 2018, FinTech startups across the globe raised $2.71 billion worth of VC/PE investments across 134 deals. In terms of MoM trends, there was a large decline of 40% from the $4.49 billion raised by FinTechs in terms of VC funding in September 2018. In terms of the number of deals, there was a significant decline of 8.2% MoM compared to 146 deals in September.

In region-specific terms, the Americas dominated global FinTech VC funding in October with 48.9% in contributions in terms of funding value ($1.33 billion) and 41.8% in terms of the number of deals (56). Asia placed second with 36.3% in contributions to global FinTech VC funding in October by value ($989.2 million) and 27.6% in terms of the number of deals (37). In terms of countries, the US led the charge in October with 47.1% in contributions in terms of funding value ($1.27 billion) across 52 funding deals. China came a distant second with 15% in contributions to global FinTech VC funding by value ($406 million). In terms of the number of deals, China contributed 6.7% in terms of global FinTech VC funding in October. The Philippines ($323 million), the UK ($222 million), and India ($136 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 2018 with $584 million in funding across 26 deals. Some of the top fundraises from this segment in October were – the China-based Linklogis’ series C funding of $220 million, the US-based Brex’s series C funding of $125 million, and the Philippines-based Akulaku’s series C funding of $70 million.

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The segment that held the second place in the funding race was B2B FinTech, which saw $454.2 million raised across 15 funding deals. This segment recorded 22% MoM growth in terms of funding value from the $370.6 million raised in September. A couple of top fundraises in this segment: the Philippines-based Voyager Innovation’s series B funding of $175 million and the US-based Docker’s series E funding of $92 million.

Cryptocurrency was third in the list of segments with the highest VC funding in October 2018 as the startups in this space raised $370.6 million across 13 funding deals. This was majorly contributed by Coinbase’s series E funding of $300 million. InsurTech and Cybersecurity were the other two among the top five FinTech segments in terms of funding value in October.

InsurTech startups raised $290.3 million across 14 deals. The InsurTech funding charts were led by China-based CloudWalk Technology with a series B funding round of $146 million. A couple of other major deals in this segment were – US-based Climacell’s series B round of $45 million and Ethos’ series B round of $35 million. On the other hand, Cybersecurity startups raised $270.8 million across 6 deals. The funding in this segment was majorly contributed by the US-based Tanium’s $200 million series G funding.

Diwakar Mandal

MEDICI

Diwakar is a FinTech enthusiast and an avid researcher who spends his time learning and writing about market trends, traction and disruptions in the industry. He has been active in the financial services consulting space for over four years.