The year of 2018 is proving to be an explosive one for global FinTech investments: in H1 2018, the global FinTech community raised more than $61.86 billion in a combination of VC/PE investments and acquisitions/buyouts. In terms of YoY growth, global FinTech VC/PE funding grew by a staggering 150%, from $12.25 billion in H1 2017 to $30.66 billion in H1 2018. In Q3 2018 alone, FinTech startups around the world raised more than $22.66 billion in VC/PE investments and acquisitions/buyouts.
With an ever-increasing scale of financial investments, 12,000 FinTech startups operating globally across 50+ segments are tightly woven into the fabric of local economies, thereby shaping the future of a wide array of industries.
Moreover, financial technology innovation facilitates structural changes across markets, plugging previously untouched groups of the population into the formal financial system. Safaricom’s mobile-money platform, M-Pesa, reaches an estimated 96% of households in Kenya and is credited with lifting at least 200,000 Kenyan households out of poverty. Indian mobile wallet Paytm has nearly 200 million users, including women and rural families that can now participate in the digital economy.
Financial services such as robo‑advice have the potential to extend financial advice beyond HNWI to a...