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September 2018 FinTech VC Funding – Payments, Lending, and InsurTech Topped the Charts

FinTech startups around the world raised $4.49 billion in funding in September 2018 across 146 VC funding deals — a 16% growth from the $3.89 billion raised by FinTech startups in August 2018. Meanwhile, the number of deals saw a minor decrease of 2% from 149 deals in August 2018.

Asia dominated global FinTech VC funding in September with 45.3% in contributions in funding value ($2.03 billion) and 26% in the number of deals (38). The Americas were placed second with 31.2% in contributions to the global FinTech VC funding in September by value ($1.4 billion) and 42.5% in the number of deals (62).

Country-wise, Japan led the charge in September with 31.2% in contributions in funding value ($1.4 billion) across three funding deals — courtesy the $1.3 billion funding raised by Line, in a bid to expand its payment business. The US came a close second with 29.8% in contributions to the global FinTech VC funding by value ($1.34 billion). As for the number of deals, the US contributed 38.4% in global FinTech VC funding in September. UK, India, and China contributed 16.5% ($742.2 million), 7.2% ($324.4 million), and 3% ($134.1 million) respectively in terms of funding value.

Among the segments, Payments led the VC funding race in September 2018 with $1.7 billion in funding across only nine deals — a staggering 185% MoM growth from $597.4 million raised in August 2018. The segment saw some of the high-value deals with Line’s $1.3 billion funding being the highest in this segment. Some of the other high fundraises in this segment in September were Stripe’s Series D funding of $245 million and Japan-based Origami’s Series C funding of $66 million.

The segment that held the second place in the funding race was Lending, which saw $1.09 billion raised across 36 funding deals. A couple of significant funding deals in this segment were $394 million raised by UK-based ThinCats and $200 million raised by US-based Portal Finance.

InsurTech was third in the list of segments with the highest VC funding in September 2018, as the startups in this space raised $458.5 million across 26 deals. US-based company Ro raised $88 million in a Series A funding round.

A couple of other noteworthy funding rounds raised by startups in this segment were $70 million raised by Israel-based MeMed and $57 million raised by the US-based Clarify Health Solutions.

B2B FinTech and WealthTech (Retail) were the other two among the top five FinTech segments in terms of funding value in September. B2B FinTech startups raised $370.6 million across nine deals. India led the B2B FinTech Funding charts with Udaan raising $225 million in a series C funding round. Another major funding deal in this segment was $102 million raised by China-based PingPong.

WealthTech (Retail) startups raised $159.7 million across 19 deals. The key contributor to the global funding in this segment was US-based Trumid, which raised $53 million in a series C funding round.


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