Fintech Startups In India Raised $1.7 Billion In H1 2020
By MYBRANDBOOK
The growth of fintech investment in India has been phenomenal and it has been seen across the world .A report shows, India’s fintech space acted immensely active in the first six months of 2020. The fintech startups in India received a hefty $1,699.9 million investment in H1 2020, across 70 deals. Homegrown fintech startups are squeezing every bit out of the digital transformation the country has been undergoing currently.
The report for insights into these and other key fintech trends:
Fintech funding rebounds in Q2’20 but deal activity continues to fall. Funding increased 17% quarter-over-quarter (QoQ) to $9.3B in Q2’20. However, monthly deal activity hit a fresh low of 127 deals in April before picking up the pace in June, which saw 141 deals.
Fintech mega-rounds ($100M+) hit a new quarterly high of 28 as the largest companies in the space raised additional funding. Mega-rounds have become more common as successful startups are generally staying private longer.
However, the recent spate of IPOs and IPO filings may indicate the start of a shift in this trend.
Asia was the only continent without a dollar funding rebound in Q2’20. North America, Europe, South America, Africa, and Australia all saw an increase in fintech funding QoQ while funding to Asia-based companies fell 37% to $1.6B. However, deal activity in all regions was either flat or down QoQ.
There are 66 VC-backed fintech unicorns worth a combined $248B.
Q2’20 saw just 1 new fintech unicorn birth.
Fintech companies continue to mature, with many ready for the scrutiny of public markets. S-1 filings in Q2’20 included Lemonade, nCino, and Rocket Companies.
In Q2 2020, the total investments involving 32 deals did dip to $647.5 million but considering that the entire world was undergoing severe social distancing measures and lockdowns, the figures are quite encouraging. Comparatively, in Q1 2019 a mere $272.6 million flew in through merger and acquisition (M&A) routes, venture capital and private equity, while Q2 2019 saw only $454 million in total investments.
The Indian fintech startups which attracted some of the big investments are – Navi Technologies which raised $398 million, Pine Labs which bagged $300 million and PaySense got acquired for $185 million by Netherlands-based PayU
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : Anil Agarwal
Anil Agarwal, the Founder and Chairman of Vedanta Resources Ltd., is r...
Icons Of India : ALOK OHRIE
Alok Ohrie leads Dell Technologies’ India business, overseeing Sales...
Icons Of India : Dilip Asbe
At present, Dilip Asbe is heading National Payments Corporation of Ind...
IOCL - Indian Oil Corporation Ltd.
IOCL is India’s largest oil refining and marketing company ...
CERT-IN - Indian Computer Emergency Response Team
CERT-In is a national nodal agency for responding to computer security...
IFFCO - Indian Farmers Fertiliser Cooperative
IFFCO operates as a cooperative society owned and controlled by its fa...
Indian Tech Talent Excelling The Tech World - Steve Sanghi, Executive Chair, Microchip
Steve Sanghi, the Executive Chair of Microchip Technology, has been a ...
Indian Tech Talent Excelling The Tech World - Satya Nadella, Chairman & CEO- Microsoft
Satya Nadella, the Chairman and CEO of Microsoft, recently emphasized ...
Indian Tech Talent Excelling The Tech World - Rajiv Ramaswami, President & CEO, Nutanix Technologies
Rajiv Ramaswami, President and CEO of Nutanix, brings over 30 years of...