Venture capitalists were not buying it last year.
Venture capital-backed fintech companies in the U.S. saw a drop in both deals and funding volume last year. Fintechs raised $5.5 billion across 422 deals, compared to $7.7 billion (and 459 deals) in 2015 – a 29% drop, according to the Global Fintech Report released by CBInsights this morning.
On quarterly basis, fintechs raised $1.3 billion this past quarter, up slightly from $1 billion for the same period in 2015.
Interestingly, early-stage funding fell to a five-quarter low – 23% of total funding, compared to 40% in 4Q15 – while Series A deal-share reached a five-quarter high, taking up 28% of deals in 4Q.
The full report is available here.4 - Readers Like This Post