A Steady Third Quarter for Fintech Globally

With one new unicorn and steady VC- backed deals amounting to $4 billion globally, Q3 2017 has been another positive quarter for the fintech industry.

According to a CBInsights Report released earlier this month, Q3 saw 278 VC-backed deals equaling $4 billion globally, compared to $2.6 billion in the same quarter last year.

And, despite a slight fall in fintech funding, the report suggests that if the current run-rate continues in the next and quarter of the year, then 2017 will reach an all-time high in fintech investment.

The quarter saw more than 18 financing rounds valued over $50 million for VC backed fintech companies. In terms of early-stage funding, the U.S. saw another drop for the fourth consecutive. In Asia, fintech deals grew by 77 to 203, only 10 deals behind its record high of 2016.

As for the unicorns, this quarter saw 25 of them collectively worth $75.7 billion. The latest member to this elite club is San Francisco-based cryptocurrency broker Coinbase. The company, which brokers Bitcoin and Ethereum exchanges among other cryptocurrencies, is valued at $1.56 billion valuation, according to the report.

Read the full report here.