Fintech Startups In India Raised $1.7 Billion In H1 2020


By MYBRANDBOOK


Fintech Startups In India Raised $1.7 Billion In H1 2020

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

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