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1、State of FintechGlobal|2023 recapGlobal data and analysis on dealmaking,funding,and exits by private market fintech companiesState of Fintech2 2Make smartertech decisions.Our platform will help you discover,understand,and manage your response to emerging tech.Make confident tech decisions that drive
2、 growth,improve operations,and beat the competition with CB Insights.IIIITry our platform free!Sign up for a free trialContentsGlobal Trends5Investment Trends6Unicorns30Exit Trends36Investors42Collection Spotlights46Payments47Banking58Digital Lending69Wealth Tech80Insurtech91Capital Markets Tech102G
3、eographic Trends113US114Silicon Valley122New York126Boston130Canada134Asia142India150Singapore154Japan158Europe162United Kingdom170France174LatAm178Brazil186Africa190Oceania1973State of FintechState of Fintech4 4“Steal”our data.Download the underlying data in this report.If you create any analysis o
4、r visualizations with this data,send it our way and you could be featured in the CBI newsletter.us on social LinkedIn X(Twitter)InstagramIIIIDownload the raw dataSign up for a free trialGlobal Trends5Investment Trends6Annual equity funding&deals7State of Fintech|Global Trends|Investment Trends$48.9B
5、$50.4B$140.8B$78.6BFunding$39.2B3,9984,0696,1726,108Deals3,80101,0002,0003,0004,0005,0006,0007,0008,000$0.0B$20.0B$40.0B$60.0B$80.0B$100.0B$120.0B$140.0B$160.0B200222023Quarterly equity funding&deals8State of Fintech|Global Trends|Investment Trends$13.8B$11.5B$11.6B$12.0B$11.7B$12.2B$13.2
6、B$13.4B$28.3B$37.9B$36.1B$38.4B$31.8B$22.3B$13.6B$10.8B$15.5B$7.5B$7.7BFunding$8.5B1,0639431,0509421,0488809761,1651,4901,4611,6021,6191,9761,5321,4111,1891,233968860Deals74005001,0001,5002,000$0.0B$5.0B$10.0B$15.0B$20.0B$25.0B$30.0B$35.0B$40.0B$45.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4201920202
7、021202220239State of Fintech|Global Trends|Investment TrendsUS$3.7B281 DealsEurope$1.7B184 DealsAsia$2.1B154 DealsLatAm$0.4B53 DealsAfrica$0.1B26 DealsCanada$0.3B21 DealsOceania$0.3B17 DealsAll Other Regions$11M4 DealsFunding&deals by global region in Q423Percent of quarterly deals by global region1
8、0State of Fintech|Global Trends|Investment Trends40%39%37%38%40%38%39%37%39%40%38%36%36%39%39%36%43%38%43%US,38%24%21%28%27%22%25%24%24%23%23%25%25%24%22%24%23%19%21%21%Asia,21%23%27%20%23%24%24%23%24%23%22%19%21%20%23%22%23%23%25%22%Europe,25%5%6%7%6%5%6%6%7%6%7%8%8%7%8%8%6%6%LatAm,7%Canada,3%5%5%A
9、frica,4%Oceania,2%All Other Regions,1%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Percent of quarterly deals by investor group11State of Fintech|Global Trends|Investment Trends32%33%33%34%31%33%32%33%32%33%30%31%30%31%30%32%31%32%30%VC,30%17%18%18%19%18%18%17%19%16%15%14%17%14%16%16%
10、17%16%17%20%Other,19%7%9%8%9%7%8%9%9%10%12%12%12%11%11%10%10%9%10%10%Asset/Investment Management,12%9%9%10%9%8%9%9%9%8%9%10%10%9%9%9%10%10%8%10%Corp,12%10%9%8%9%9%11%11%11%11%13%12%13%13%14%12%13%12%12%12%Angel,12%9%9%9%9%8%8%7%7%7%8%8%7%8%7%8%8%7%8%8%CVC,7%11%8%9%6%14%5%9%7%10%6%8%6%10%7%10%7%11%7%
11、6%Incubator/Accelerator,4%5%5%6%5%5%6%Private Equity,4%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual average&median deal size12State of Fintech|Global Trends|Investment Trends$17.2M$16.5M$29.0M$16.8M$13.8M201920212023Average Deal Size$3.0M$3.0M$4.5M$3.9M$3.2M201920212023Median D
12、eal SizeAnnual median deal size by global region13State of Fintech|Global Trends|Investment Trends$3.7M$5.0M$4.0M201920212023US$4.9M$3.1M$3.4M201920212023Asia$2.5M$3.5M$3.0M201920212023Europe$1.1M$2.0M$1.6M201920212023LatAm$2.0M$2.9M$2.8M201920212023Canada$0.2M$1.0M$0.5M201920212023Africa$2.8M$3.6M$
13、2.0M201920212023OceaniaAnnual median deal size by investor group14State of Fintech|Global Trends|Investment Trends$3.0M$4.0M$3.5M201920212023Angel$15.2M$10.0M$6.5M201920212023Asset/Investment Management$14.0M$10.0M$7.6M201920212023CVC$10.0M$6.2M$5.0M201920212023Corp$20.0M$22.0M$14.5M201920212023Priv
14、ate Equity$9.1M$7.5M$6.0M201920212023VCAnnual funding&deals from mega-rounds(deals worth$100M+)15State of Fintech|Global Trends|Investment Trends$24.4B$24.3B$92.0B$37.0BFunding$17.1B4Deals570500300350400450$0.0B$10.0B$20.0B$30.0B$40.0B$50.0B$60.0B$70.0B$80.0B$90.0B$100.0B201920
15、20202120222023Quarterly mega-round funding&deals16State of Fintech|Global Trends|Investment Trends$8.1B$5.9B$4.8B$5.5B$6.0B$5.8B$7.1B$5.4B$18.1B$25.5B$22.9B$25.5B$18.2B$10.3B$4.6B$4.0B$9.2B$1.6B$2.6BFunding$3.7B27282522223089885571923161215Deals100120140$0.0B$5.0B$10.0B$15.0B$2
16、0.0B$25.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q420022202317State of Fintech|Global Trends|Investment TrendsUS$1.7B5 DealsAsia$1.1B4 DealsEurope$0.5B3 DealsLatAm$0.2B1 DealOceania$0.2B1 DealMega-round funding&deals by global region in Q423Quarterly mega-round deals by global region18Stat
17、e of Fintech|Global Trends|Investment Trends7677US,58626Asia,44221Europe,321LatAm,111Canada,01Africa,01Oceania,11All Other Regions,0Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Quarterly mega-rounds as percent of funding19State of Fintech|Global Trends|Investment Trends59%52%42%46%52%
18、48%54%40%64%67%63%66%57%46%33%37%59%22%34%Mega-rounds,44%41%48%58%54%48%52%46%60%36%33%37%34%43%54%67%63%41%78%66%Non-mega-rounds,56%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Global:Top equity deals in Q42320State of Fintech|Global Trends|Investment TrendsCompanyRound AmountRoundDa
19、teRound Valuation Select InvestorsCountry%of Total Funding1Metropolis$1.0BSeries C2023-10-05N/A3L,Eldridge,Assembly Ventures,Slow Ventures,BDT&MSD PartnersUnited States12.4%2Tamara$340MSeries C2023-12-18$1.0BSNB Capital,Sanabil Investments,C,Coatue,EndeavorSaudi Arabia4.0%3SumUp$307MSeries F2023-12-
20、11N/ASixth Street Growth,Bain Capital Tech Opportunities,Fin Capital,LiquidityUnited Kingdom3.6%4Alpheya$300MUndisclosed2023-11-21N/A BNY Mellon,LunateUnited Arab Emirates3.5%5Next Insurance$265MSeries G2023-11-01N/A Allianz X,Allstate Strategic VenturesUnited States3.1%6Investree$231MSeries D2023-1
21、0-04N/A JTA Holding,SBI GroupIndonesia2.7%7QI Tech$200MSeries B2023-10-31$1.0B General Atlantic,Across CapitalBrazil2.4%7Tabby$200MSeries D2023-11-01$1.5BWellington Management Company,Arbor Ventures,Mubadala Capital,PayPal Ventures,Peak XV PartnersSaudi Arabia2.4%9Devoted Health$175MSeries E2023-12-
22、29$12.9BFearless Ventures,GIC,Maverick Ventures,Stardust Equity,The Space BetweenUnited States2.1%10Employment Hero$167MSeries F2023-10-18$1.4BTechnology Crossover Ventures,Insight Partners,AirTree Ventures,OneVentures,SeekAustralia2.0%Annual percent of deals by deal stage21State of Fintech|Global T
23、rends|Investment Trends67%66%69%73%Early-stage,73%14%13%14%10%Mid-stage,10%11%10%11%8%Late-stage,8%8%11%7%9%Other,9%200222023Regional deal share by deal stage in Q42322State of Fintech|Global Trends|Investment Trends36%36%34%55%21%29%17%17%25%23%30%18%8%4%Early-stageMid-stageLate-stageOth
24、erUSAsiaEuropeLatAmCanadaAfricaOceaniaAll Other RegionsAnnual median funding by deal stage23State of Fintech|Global Trends|Investment Trends$1.8M$2.0M$2.6M$2.5M$2.4M201920212023Early-stage$20.0M$21.6M$38.7M$31.8M$20.0M201920212023Mid-stage$40.0M$40.0M$100.0M$48.1M$34.0M201920212023Late-stageGlobal:T
25、op seed/angel deals in Q42324State of Fintech|Global Trends|Investment TrendsCompanyRound AmountRoundDateSelect InvestorsCountry1qomodo$37MPre-Seed2023-11-07Exor Ventures,Fasanara Capital,Ithaca Investment,Lumen Ventures,Notion CapitalItaly2Influence$21MSeed VC2023-11-08Alpha Praetorian Capital,Acme
26、 Innovation,The London Fund,Al Kahn,Reeve CollinsUnited States3Kennek$13MSeed VC2023-10-10HV Capital,Dutch Founders Fund,Plug and Play Ventures,ff Venture Capital,AlbionVCUnited Kingdom4Statement$12MSeed VC2023-10-18Glilot Capital Partners,Citi Alternative Investments,Mensch Capital Partners,Operato
27、r Partners,Titan CapitalUnited States5CFX Labs$10MSeed VC2023-11-16Antalpha Ventures,CMT Digital,Corazon Capital,Decasonic,Hard YakaUnited States5LXA$10MSeed VC2023-11-09New Enterprise Associates,EDBI,Openspace VenturesSingapore5Nonco$10MSeed VC2023-12-04Hack VC,Valor Capital Group,Bastion Trading,B
28、ullish,CMCC GlobalMexico8Rainforest$9MSeed VC2023-10-04Accel,Ardent Venture Partners,BoxGroup,Infinity Ventures,Tech Square VenturesUnited States8Shadow$9MSeed VC2023-12-05ParadigmUnited StatesGlobal:Top Series A deals in Q42325State of Fintech|Global Trends|Investment TrendsCompanyRound AmountRound
29、DateSelect InvestorsCountry1Black Ore$60MSeries A2023-11-07Andreessen Horowitz,Oak HC/FT Partners,General Catalyst,Founders Fund,Khosla VenturesUnited States2Andalusia Labs$48MSeries A2023-12-13Lightspeed Venture Partners,Bain Capital Ventures,Digital Currency Group,Framework Ventures,Pantera Capita
30、lUnited Arab Emirates3Keboola$32MSeries A2023-12-01Viking Global Investors,Eduard Kuera,Presto Ventures,Reflex Capital,TCF CapitalCzech Republic4Kairoswealth$25MSeries A2023-11-14Mount RowUnited Arab Emirates4Ritual$25MSeries A2023-11-08Archetype,Accel,Accomplice,Anagram,AvraUnited States6Roofr$24MS
31、eries A2023-10-18Vertical Venture Partners,ACE&Company,Bullpen Capital,Interplay Ventures,ABC SupplyUnited States7Scapia$23MSeries A2023-11-21Elevation Capital,Three State Capital,Matrix Partners India,Tanglin Venture PartnersIndia8Pivot$22MSeries A2023-12-13Anamcara Capital,Emblem,Oliver Samwer,Vis
32、ionaries ClubFrance9ALT21$21MSeries A2023-10-12Undisclosed InvestorsUnited KingdomGlobal:Top Series B deals in Q42326State of Fintech|Global Trends|Investment TrendsCompanyRound AmountRoundDateSelect InvestorsCountry1QI Tech$200MSeries B2023-10-31General Atlantic,Across CapitalBrazil2Fnality$95MSeri
33、es B2023-11-13BNP Paribas,Goldman Sachs,Euroclear,Nomura Holdings,Depository Trust&Clearing CorporationUnited Kingdom3Imprint$75MSeries B2023-11-13Ribbit Capital,Kleiner Perkins Caufield&Byers,Thrive Capital,Moore Capital Management,Lachy GroomUnited States4Brite$60MSeries B2023-10-04Dawn Capital,He
34、adline,Incore SoftwareSweden4InsuranceDekho$60MSeries B2023-10-11Mitsubishi UFJ Financial Group,Avataar Venture Partners,Goldman Sachs Asset Management,TVS Capital,Beams Fintech FundIndia6Nirvana$57MSeries B2023-10-17Lightspeed Venture Partners,General Catalyst,Valor Equity PartnersUnited States7Age
35、ntSync$50MSeries B2023-10-26Craft Ventures,Valor Equity PartnersUnited States7YouTrip$50MSeries B2023-10-26LightspeedSingapore9Monument Bank$49MSeries B2023-11-08Dubai InvestmentsUnited Kingdom10Candex$45MSeries B2023-11-28GS Growth,Craft Ventures,Edenred Capital Partners,J.P.Morgan,NFX United State
36、sGlobal:Top Series C deals in Q42327State of Fintech|Global Trends|Investment TrendsCompanyRound AmountRoundDateSelect InvestorsCountry1Metropolis$1.0BSeries C2023-10-053L,Eldridge,Assembly Ventures,Slow Ventures,BDT&MSD PartnersUnited States2Tamara$340MSeries C2023-12-18SNB Capital,Sanabil Investme
37、nts,C,Coatue,EndeavorSaudi Arabia3PaySend$65MSeries C2023-11-29Mastercard,Hermes GPE,InfraVia Capital,One Peak PartnersUnited Kingdom4Procurify$50MSeries C2023-10-17Ten Coves Capital,HarbourVest Partners,Information Venture Partners,Export Development CanadaCanada5Nova Credit$45MSeries C2023-10-17Ca
38、napi Ventures,General Catalyst,Index Ventures,Kleiner Perkins Caufield&Byers,Y CombinatorUnited States6Indy$44MSeries C2023-11-21BlackFin Capital Partners,iXO Private Equity,La MaisonFrance7Center$30MSeries C2023-11-27Top Tier Capital Partners,Durable Capital PartnersUnited States8Cowbell Cyber$25MS
39、eries C2023-11-01Prosperity7 VenturesUnited States9AwanTunai$18MSeries C2023-12-04Undisclosed InvestorsIndonesia10Habit Factory$17MSeries C2023-11-28KB Investment,SEMA Translink Investment,K-Growth,Murex Partners,Smilegate InvestmentSouth KoreaGlobal:Top Series D deals in Q42328State of Fintech|Glob
40、al Trends|Investment TrendsCompanyRound AmountRoundDateRound Valuation Select InvestorsCountry1Investree$231MSeries D2023-10-04N/A JTA Holding,SBI GroupIndonesia2Tabby$200MSeries D2023-11-01$1.5BWellington Management Company,Arbor Ventures,Mubadala Capital,PayPal Ventures,Peak XV PartnersSaudi Arabi
41、a3Vestwell$125MSeries D2023-12-21$1.0BLightspeed Venture Partners,Fin Capital,FinTech Collective,Primary Venture Partners,Blue Owl CapitalUnited States4Enable$120MSeries D2023-11-07$1.1BLightspeed Venture Partners,Insight Partners,Norwest Venture Partners,Menlo Ventures,Sierra VenturesUnited States5
42、KOHO$63MSeries D2023-12-07$589M TTV Capital,BDC Capital,Drive Capital,Eldridge,HOOPPCanada6Stampli$61MSeries D2023-10-03N/ABlackstone,Insight Partners,Bloomberg Beta,Next World Capital,SignalFireUnited States7Clearco$60MSeries D2023-10-04N/A Inovia Capital,Founders Circle CapitalCanada7InCred$60MSer
43、ies D2023-11-09$1.0B Salarpuria Sattva Group,Varanium CapitalIndia7Pontera$60MSeries D2023-12-07N/AICONIQ Growth,Lightspeed Venture Partners,Blumberg Capital,Hanaco Ventures,The Founders KitchenUnited States10ROLLER$50MSeries D2023-11-10N/A Insight Partners,Acadian SoftwareAustraliaGlobal:Top Series
44、 E+deals in Q42329State of Fintech|Global Trends|Investment TrendsCompanyRound AmountRoundDateRound Valuation Select InvestorsCountry1SumUp$307MSeries F2023-12-11N/ASixth Street Growth,Bain Capital Tech Opportunities,Fin Capital,LiquidityUnited Kingdom2Next Insurance$265MSeries G2023-11-01N/A Allian
45、z X,Allstate Strategic VenturesUnited States3Devoted Health$175MSeries E2023-12-29$12.9BFearless Ventures,GIC,Maverick Ventures,Stardust Equity,The Space BetweenUnited States4Employment Hero$167MSeries F2023-10-18$1.4BTechnology Crossover Ventures,Insight Partners,AirTree Ventures,OneVentures,SeekAu
46、stralia5Blockchain$110MSeries E2023-11-14$7.0BKingsway Capital Partners,Lightspeed Venture Partners,Baillie Gifford,Google Ventures,LakestarUnited Kingdom6Scalable Capital$65MSeries E2023-12-07$1.4B Balderton Capital,HV CapitalGermany7Prove Identity$40MSeries I2023-10-17$1.0B Capital One Ventures,Ma
47、ssMutual VenturesUnited States8Aye$37MSeries F2023-12-13N/ABritish International Investment,A91 Partners,Waterfield AdvisorsIndiaUnicorns30Quarterly new&total unicorns(private companies valued at$1B+)31State of Fintech|Global Trends|Unicorns6233New Unicorns,83Total Unicorns,322Q1Q2Q3Q4Q1Q
48、2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q420022202332State of Fintech|Global Trends|UnicornsAsia564 NewUS1682 NewOceania31 NewLatAm221 NewCanada70 NewEurope620 NewAfrica40 NewNew&total unicorns by global region in Q423Quarterly new unicorns by global region33State of Fintech|Global Trends|Unicorns322U
49、S,211Asia,4211Europe,0LatAm,1Canada,01Africa,0Oceania,1All Other Regions,0Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Global:Top unicorn births in Q42334State of Fintech|Global Trends|UnicornsCompanyLatest Valuation Country1Tabby$1.5BSaudi Arabia2Employment Hero$1.4BAustralia3Enable$
50、1.1BUnited States4InCred$1.0BIndia4Andalusia Labs$1.0BUnited Arab Emirates4QI Tech$1.0BBrazil4Tamara$1.0BSaudi Arabia4Vestwell$1.0BUnited StatesGlobal:Top unicorns by valuation in Q42335State of Fintech|Global Trends|UnicornsCompanyLatest Valuation Country1Stripe$50.0BUnited States2Revolut$33.0BUnit
51、ed Kingdom3Chime$25.0BUnited States4Ripple$15.0BUnited States5Devoted Health$12.9BUnited States6Plaid$12.7BUnited States7Brex$12.3BUnited States8Deel$12.0BUnited States9Rippling$11.3BUnited States10Bolt$11.0BUnited States10C$11.0BUnited KingdomExit Trends36Annual exits37State of Fintech|Global Trend
52、s|Exit Trends27IPO,22759M&A,61211SPAC,8200222023Quarterly exits38State of Fintech|Global Trends|Exit Trends3459IPO,48M&A,14913SPAC,4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Percent of quarterly exits by global region39State of Fintech|Global Trends|Exit Trend
53、s40%44%43%46%36%36%41%40%46%41%41%35%36%34%34%35%36%39%37%US,32%9%12%10%8%17%15%10%9%8%9%9%12%17%18%10%11%18%15%17%Asia,16%36%33%30%27%35%34%31%31%33%34%30%34%30%31%34%39%30%32%30%Europe,33%5%5%5%9%8%6%8%10%8%9%5%9%6%10%6%8%LatAm,8%7%6%5%5%7%5%Canada,6%Africa,3%8%5%Oceania,0%All Other Regions,1%Q1Q2
54、Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Global:Top M&A exits in Q42340State of Fintech|Global Trends|Exit TrendsCompanyRound ValuationAcquirerCountry1VettaFi$1.1B TMX GroupUnited States2Corvus Insurance$435M The Travelers CompaniesUnited States3Payzer$261M WEXUnited States4PAO Bank$1
55、20M Lufax HoldingsHong Kong5Satang$106M KasikornbankThailand6Orama$99M BTG PactualBrazil7Viewgol$68M Computer Programs and SystemsUnited States8Securrency$50M Depository Trust&Clearing CorporationUnited States9Goals101$40M M2PIndia10Paymint$31M Kakao PaySouth KoreaGlobal:Top SPACs in Q42341State of
56、Fintech|Global Trends|Exit TrendsCompanyRound Valuation Select InvestorsCountry1GRIID$625MAdit EdTech AcquisitionUnited States2MoneyHero Group$310MBridgetown HoldingsHong Kong3Nukkleus$105MBrilliant AcquisitionUnited StatesInvestors42Global:Top investors by company count in Q42343State of Fintech|Gl
57、obal Trends|InvestorsInvestorCompany Count Investor GroupCountry1Plug and Play Ventures13VCUnited States2Lightspeed Venture Partners7VCUnited States3Andreessen Horowitz6VCUnited States3Antler6VCSingapore3Fin Capital6VCUnited States3General Catalyst6VCUnited States7Clocktower Technology Ventures5VCUn
58、ited States7Gaingels5AngelUnited States7Hyperithm5CorpJapan7Insight Partners5VCUnited StatesGlobal:Top VCs by company count in Q42344State of Fintech|Global Trends|InvestorsInvestorCompany Count Country1Plug and Play Ventures13United States2Lightspeed Venture Partners7United States3Andreessen Horowi
59、tz6United States3Antler6Singapore3Fin Capital6United States3General Catalyst6United States7Clocktower Technology Ventures5United States7Insight Partners5United StatesGlobal:Top CVCs by company count in Q42345State of Fintech|Global Trends|InvestorsInvestorCompany Count Country1Coinbase Ventures3Unit
60、ed States1MassMutual Ventures3United StatesCollection Spotlights46Payments47Annual funding&deals48State of Fintech|Collection Spotlights|Payments$15.9B$14.8B$37.8B$20.1BFunding$14.1B6607211,1281,060Deals53702004006008001,0001,2001,4001,600$0.0B$5.0B$10.0B$15.0B$20.0B$25.0B$30.0B$35.0B$40.0B201920202
61、02120222023Quarterly funding&deals49State of Fintech|Collection Spotlights|Payments$5.0B$3.1B$3.3B$4.4B$4.7B$3.1B$4.3B$2.7B$7.4B$10.1B$8.7B$11.5B$8.2B$5.2B$4.0B$2.7B$8.1B$1.8B$1.1BFunding$3.1B77246234320420718316377Deals0200250300350400450$0.0B$2.0B$4.0B$6
62、.0B$8.0B$10.0B$12.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q420022202350State of Fintech|Collection Spotlights|PaymentsUS$1.7B38 DealsAsia$0.7B21 DealsEurope$0.6B31 DealsAfrica$64M4 DealsLatAm$57M13 DealsCanada$10M6 DealsOceania$2M1 DealFunding&deals by global region in Q423Percent of quar
63、terly deals by global region51State of Fintech|Collection Spotlights|Payments39%40%34%39%33%35%37%33%34%40%38%32%34%34%39%34%38%35%42%US,33%27%27%30%21%27%30%29%24%29%22%28%27%28%26%24%26%16%23%21%Asia,18%19%26%22%26%24%25%19%27%20%22%17%20%14%23%19%18%21%26%17%Europe,27%6%5%7%5%7%10%6%9%9%9%10%7%9%
64、10%11%6%6%LatAm,11%5%Canada,5%5%7%6%6%7%7%7%8%8%7%6%Africa,4%Oceania,1%All Other Regions,0%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual average&median deal size52State of Fintech|Collection Spotlights|Payments$32.5M$26.2M$41.6M$23.9M$32.6M201920212023Average Deal Size$5.0M$4.5M
65、$6.6M$4.5M$4.9M201920212023Median Deal SizeAnnual percent of deals by deal stage53State of Fintech|Collection Spotlights|Payments56%66%62%68%Early-stage,72%19%13%18%13%Mid-stage,12%17%12%14%10%Late-stage,9%8%9%6%9%Other,7%200222023Payments:Top equity deals in Q42354State of Fintech|Collec
66、tion Spotlights|PaymentsCompanyRound AmountRoundDateRound Valuation Select InvestorsCountry%of Total Funding1Metropolis$1.0BSeries C2023-10-05N/A3L,Eldridge,Assembly Ventures,Slow Ventures,BDT&MSD PartnersUnited States33.7%2Tamara$340MSeries C2023-12-18$1.0BSNB Capital,Sanabil Investments,C,Coatue,E
67、ndeavorSaudi Arabia10.9%3SumUp$307MSeries F2023-12-11N/ASixth Street Growth,Bain Capital Tech Opportunities,Fin Capital,LiquidityUnited Kingdom9.9%4Tabby$200MSeries D2023-11-01$1.5BWellington Management Company,Arbor Ventures,Mubadala Capital,PayPal Ventures,Peak XV PartnersSaudi Arabia6.4%5Enable$1
68、20MSeries D2023-11-07$1.1BLightspeed Venture Partners,Insight Partners,Norwest Venture Partners,Menlo Ventures,Sierra VenturesUnited States3.9%6Imprint$75MSeries B2023-11-13$240MRibbit Capital,Kleiner Perkins Caufield&Byers,Thrive Capital,Moore Capital Management,Lachy GroomUnited States2.4%7PaySend
69、$65MSeries C2023-11-29N/A Mastercard,Hermes GPE,InfraVia Capital,One Peak Partners United Kingdom2.1%8Stampli$61MSeries D2023-10-03N/ABlackstone,Insight Partners,Bloomberg Beta,Next World Capital,SignalFireUnited States2.0%9Brite$60MSeries B2023-10-04N/A Dawn Capital,Headline,Incore SoftwareSweden1.
70、9%9Cash Plus$60MPrivate Equity2023-10-10N/A Mediterrania Capital Partners,FMO,IFCMorocco1.9%9Shinhan Card$60MUndisclosed2023-10-25N/A International Finance CorporationSouth Korea1.9%Quarterly new&total unicorns55State of Fintech|Collection Spotlights|Payments3New Unicorns,397979696Total Unicorns,99Q
71、1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual exits56State of Fintech|Collection Spotlights|Payments2IPO,354M&A,451SPAC,0200222023Quarterly exits57State of Fintech|Collection Spotlights|Payments2IPO,111111214M&A,8SPAC,0Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q42019202020
72、2120222023Banking58Annual funding&deals59State of Fintech|Collection Spotlights|Banking$6.9B$9.0B$21.0B$7.8BFunding$2.2B237287387281Deals0200250300350400450$0.0B$5.0B$10.0B$15.0B$20.0B$25.0B200222023Quarterly funding&deals60State of Fintech|Collection Spotlights|Banking$2.1B$1.
73、5B$1.9B$1.3B$1.9B$2.7B$2.4B$2.0B$3.3B$6.5B$6.3B$4.9B$3.2B$1.7B$1.4B$1.5B$0.7B$0.4B$0.6BFunding$0.5B6453635766667382835Deals37020406080100120140$0.0B$1.0B$2.0B$3.0B$4.0B$5.0B$6.0B$7.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q420022202361State of Fintech|Collection Spotl
74、ights|BankingLatAm$0.2B4 DealsEurope$0.1B10 DealsUS$99M12 DealsCanada$63M1 DealAsia$21M6 DealsAfrica$2M3 DealsOceania$2M1 DealFunding&deals by global region in Q423Percent of quarterly deals by global region62State of Fintech|Collection Spotlights|Banking48%45%54%30%47%38%37%37%36%44%30%25%32%37%36%
75、37%44%39%40%US,32%6%8%11%12%14%12%9%16%12%17%21%16%11%19%16%10%11%14%Asia,16%33%40%22%40%26%32%30%35%27%23%30%23%27%29%26%25%34%39%31%Europe,27%6%16%9%8%14%7%13%9%11%19%12%8%8%14%5%9%LatAm,11%6%Canada,3%6%7%7%6%8%5%5%6%Africa,8%6%5%Oceania,3%All Other Regions,0%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3
76、Q4200222023Annual average&median deal size63State of Fintech|Collection Spotlights|Banking$35.2M$36.3M$60.6M$32.7M$16.5M201920212023Average Deal Size$6.2M$10.5M$12.0M$11.0M$5.5M201920212023Median Deal SizeAnnual percent of deals by deal stage64State of Fintech|Collection Spotlights|Bankin
77、g62%57%57%57%Early-stage,64%22%22%22%21%Mid-stage,16%11%13%16%10%Late-stage,5%6%8%5%12%Other,15%200222023Banking:Top equity deals in Q42365State of Fintech|Collection Spotlights|BankingCompanyRound AmountRoundDateRound Valuation Select InvestorsCountry%of Total Funding1QI Tech$200MSeries
78、B2023-10-31$1.0B General Atlantic,Across CapitalBrazil37.9%2KOHO$63MSeries D2023-12-07$589MTTV Capital,BDC Capital,Drive Capital,Eldridge,HOOPPCanada12.0%3Monument Bank$49MSeries B2023-11-08$641M Dubai InvestmentsUnited Kingdom9.3%4Stash$40MConvertible Note2023-10-13N/AT.Rowe Price,Union Square Vent
79、ures,Goodwater CapitalUnited States7.6%5Railsr$24MConvertible Note2023-10-26N/A Moneta VC,D Squared CapitalUnited Kingdom4.5%6Charlie$16MSeries A2023-10-31$60MTTV Capital,Better Tomorrow Ventures,FPV VenturesUnited States3.0%6Meniga$16MSeries D2023-12-13N/AGroupe BPCE,Grupo Credito Agricola,Omega Fu
80、ndsUnited Kingdom3.1%8CondoConta$15MSeries A2023-10-05N/AIgah Ventures,Redpoint eventures,EXT Capital,SYN Proptech,Terracotta VenturesBrazil2.8%9NearPay$14MSeries A2023-12-12N/ASanabil Investments,Arzan Venture Capital,Hala Ventures,Vision Ventures,Saudi Telecom CompanySaudi Arabia2.6%10Crezco$12MSe
81、ries A2023-11-22N/A 13books,MMC VenturesUnited Kingdom2.3%Quarterly new&total unicorns66State of Fintech|Collection Spotlights|Banking1New Unicorns,142434343Total Unicorns,44Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual exits67State of Fintech|Collection Spotlights|BankingIPO,01
82、9M&A,152SPAC,0200222023Quarterly exits68State of Fintech|Collection Spotlights|BankingIPO,05463M&A,2SPAC,0Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Digital Lending69Annual funding&deals70State of Fintech|Collection Spotlights|Digital Lending$10.0B$8.4B$25.6B$12.3BFunding
83、$5.7B535468851715Deals404005006007008009001,000$0.0B$5.0B$10.0B$15.0B$20.0B$25.0B$30.0B200222023Quarterly funding&deals71State of Fintech|Collection Spotlights|Digital Lending$1.7B$3.2B$3.1B$2.0B$1.1B$2.1B$2.7B$2.5B$5.9B$7.8B$5.1B$6.8B$5.6B$2.6B$2.4B$1.7B$1.9B$1.0B$1.7BFunding$
84、1.1B472202913965Deals580500300350400450$0.0B$1.0B$2.0B$3.0B$4.0B$5.0B$6.0B$7.0B$8.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q420022202372State of Fintech|Collection Spotlights|Digital LendingAsia$0.9B21 DealsUS$0.1B13 DealsCanada$62M2 D
85、ealsEurope$50M12 DealsOceania$18M1 DealLatAm$7M6 DealsAfrica$6M3 DealsFunding&deals by global region in Q423Percent of quarterly deals by global region73State of Fintech|Collection Spotlights|Digital Lending39%43%39%31%42%33%39%32%38%41%36%38%32%37%39%35%37%40%40%US,22%24%22%33%26%26%36%25%23%27%21%
86、21%22%25%22%22%26%23%26%25%Asia,36%21%21%14%28%19%19%23%26%17%19%16%21%20%22%17%16%21%18%15%Europe,21%10%7%9%10%8%8%6%8%10%9%13%10%11%7%14%18%6%9%LatAm,10%Canada,3%5%7%7%8%5%10%11%Africa,5%Oceania,2%All Other Regions,0%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual average&median
87、 deal size74State of Fintech|Collection Spotlights|Digital Lending$24.7M$23.3M$37.6M$21.4M$18.7M201920212023Average Deal Size$6.4M$6.0M$6.0M$5.0M$4.6M201920212023Median Deal SizeAnnual percent of deals by deal stage75State of Fintech|Collection Spotlights|Digital Lending61%59%64%67%Early-stage,67%24
88、%20%15%14%Mid-stage,12%11%13%14%8%Late-stage,9%8%7%11%Other,12%200222023Digital Lending:Top equity deals in Q42376State of Fintech|Collection Spotlights|Digital LendingCompanyRound AmountRoundDateRound Valuation Select InvestorsCountry%of Total Funding1Tamara$340MSeries C2023-12-18$1.0BSN
89、B Capital,Sanabil Investments,C,Coatue,EndeavorSaudi Arabia30.3%2Investree$231MSeries D2023-10-04N/A JTA Holding,SBI GroupIndonesia20.6%3Tabby$200MSeries D2023-11-01$1.5BWellington Management Company,Arbor Ventures,Mubadala Capital,PayPal Ventures,Peak XV PartnersSaudi Arabia17.8%4Clearco$60MSeries
90、D2023-10-04N/A Inovia Capital,Founders Circle CapitalCanada5.4%4InCred$60MSeries D2023-11-09$1.0B Salarpuria Sattva Group,Varanium CapitalIndia5.4%4Shinhan Finance$60MUndisclosed2023-10-25N/A International Finance CorporationKazakhstan5.4%7Nova Credit$45MSeries C2023-10-17$370MCanapi Ventures,Genera
91、l Catalyst,Index Ventures,Kleiner Perkins Caufield&Byers,Y CombinatorUnited States4.0%8Aye$37MSeries F2023-12-13N/ABritish International Investment,A91 Partners,Waterfield AdvisorsIndia3.3%9PatientFi$30MSeries B2023-12-21N/A Undisclosed InvestorsUnited States2.6%10Lendo$28MSeries B2023-12-10N/A Sana
92、bil Investments,Shorooq Partners,AB VenturesSaudi Arabia2.5%10Weiche$28MSeries B2023-11-28N/A Yuhang InternationalChina2.5%Quarterly new&total unicorns77State of Fintech|Collection Spotlights|Digital Lending21New Unicorns,253545352Total Unicorns,54Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4201920202021
93、20222023Annual exits78State of Fintech|Collection Spotlights|Digital LendingIPO,073M&A,521SPAC,2120222023Quarterly exits79State of Fintech|Collection Spotlights|Digital LendingIPO,01922177M&A,61SPAC,0Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Wealth Tech80Annual funding&d
94、eals81State of Fintech|Collection Spotlights|Wealth Tech$4.1B$6.2B$15.1B$8.9BFunding$3.5B424435711656Deals30400500600700800$0.0B$2.0B$4.0B$6.0B$8.0B$10.0B$12.0B$14.0B$16.0B200222023Quarterly funding&deals82State of Fintech|Collection Spotlights|Wealth Tech$1.0B$1.2B$1.3B$0.7B$0
95、.8B$2.4B$1.9B$1.1B$5.5B$3.3B$2.9B$3.4B$3.2B$2.6B$1.3B$1.7B$1.2B$0.8B$0.2BFunding$1.2B511229137Deals650500300$0.0B$1.0B$2.0B$3.0B$4.0B$5.0B$6.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q420022202383State of Fintech|Collection Spotlights|W
96、ealth TechAsia$0.6B16 DealsUS$0.3B26 DealsEurope$0.2B17 DealsCanada$0.1B3 DealsOceania$3M3 DealsFunding&deals by global region in Q423Percent of quarterly deals by global region84State of Fintech|Collection Spotlights|Wealth Tech42%38%45%39%42%38%45%45%39%39%42%37%35%39%40%34%43%41%59%US,40%23%16%21
97、%18%20%18%19%21%26%24%23%30%26%26%32%23%16%14%14%Asia,25%29%37%26%32%26%30%25%27%24%28%22%24%23%26%23%27%28%34%22%Europe,26%6%6%5%LatAm,0%5%Canada,5%5%Africa,0%Oceania,5%All Other Regions,0%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual average&median deal size85State of Fintech|
98、Collection Spotlights|Wealth Tech$12.7M$18.4M$26.7M$16.1M$12.8M201920212023Average Deal Size$3.8M$3.2M$4.0M$3.8M$2.3M201920212023Median Deal SizeAnnual percent of deals by deal stage86State of Fintech|Collection Spotlights|Wealth Tech68%65%70%69%Early-stage,67%13%17%14%10%Mid-stage,10%11%9%10%9%Late
99、-stage,9%8%10%7%12%Other,13%200222023Wealth Tech:Top equity deals in Q42387State of Fintech|Collection Spotlights|Wealth TechCompanyRound AmountRoundDateRound Valuation Select InvestorsCountry%of Total Funding1Alpheya$300MUndisclosed2023-11-21N/A BNY Mellon,LunateUnited Arab Emirates25.1%
100、2Investree$231MSeries D2023-10-04N/A JTA Holding,SBI GroupIndonesia19.3%3Vestwell$125MSeries D2023-12-21$1.0BLightspeed Venture Partners,Fin Capital,FinTech Collective,Primary Venture Partners,Blue Owl CapitalUnited States10.4%4Scalable Capital$65MSeries E2023-12-07$1.4B Balderton Capital,HV Capital
101、Germany5.4%5KOHO$63MSeries D2023-12-07$589MTTV Capital,BDC Capital,Drive Capital,Eldridge,HOOPPCanada5.3%6Pontera$60MSeries D2023-12-07N/AICONIQ Growth,Lightspeed Venture Partners,Blumberg Capital,Hanaco Ventures,The Founders KitchenUnited States5.0%7Stash$40MConvertible Note2023-10-13N/AT.Rowe Pric
102、e,Union Square Ventures,Goodwater CapitalUnited States3.3%7Wellington-Altus$40MUndisclosed2023-12-07N/A The Cynosure GroupCanada3.3%9Upvest$32MSeries B2023-10-11N/ABlackRock,Bessemer Venture Partners,ABN AMRO Ventures,HV Capital,Notion CapitalGermany2.7%10Kairoswealth$25MSeries A2023-11-14N/A Mount
103、RowUnited Arab Emirates2.1%Quarterly new&total unicorns88State of Fintech|Collection Spotlights|Wealth Tech111New Unicorns,129303131Total Unicorns,32Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual exits89State of Fintech|Collection Spotlights|Wealth Tech2IPO,173M&A,432SPAC,0201920
104、20202120222023Quarterly exits90State of Fintech|Collection Spotlights|Wealth Tech1IPO,01411128M&A,12SPAC,0Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Insurtech91Annual funding&deals92State of Fintech|Collection Spotlights|Insurtech$7.8B$8.4B$16.7B$8.0BFunding$4.4B573571744649Deals447
105、00500600700800900$0.0B$2.0B$4.0B$6.0B$8.0B$10.0B$12.0B$14.0B$16.0B$18.0B200222023Quarterly funding&deals93State of Fintech|Collection Spotlights|Insurtech$2.1B$1.6B$1.9B$2.2B$1.5B$1.7B$2.8B$2.4B$2.8B$5.1B$3.2B$5.6B$2.4B$2.4B$2.3B$1.0B$1.4B$0.9B$1.1BFunding$1.1B714313
106、7793123Deals99050100150200$0.0B$1.0B$2.0B$3.0B$4.0B$5.0B$6.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q420022202394State of Fintech|Collection Spotlights|InsurtechUS$0.8B48 DealsAsia$0.1B17 DealsEurope$86M23 DealsAfrica$31M6 DealsLatAm$7M4 DealsOceania$1M1 De
107、alFunding&deals by global region in Q423Percent of quarterly deals by global region95State of Fintech|Collection Spotlights|Insurtech53%50%53%51%61%49%49%48%53%44%48%43%47%50%46%50%52%51%57%US,48%17%16%18%21%13%18%17%19%18%22%21%21%14%12%21%16%11%13%15%Asia,17%19%28%15%18%16%17%26%18%23%22%18%23%23%
108、28%20%27%22%21%20%Europe,23%6%6%6%5%5%6%LatAm,4%Canada,0%6%6%Africa,6%Oceania,1%All Other Regions,0%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual average&median deal size96State of Fintech|Collection Spotlights|Insurtech$18.1M$18.0M$27.3M$15.8M$12.0M201920212023Average Deal Size
109、$3.5M$4.4M$6.0M$4.5M$4.3M201920212023Median Deal SizeAnnual percent of deals by deal stage97State of Fintech|Collection Spotlights|Insurtech68%67%64%70%Early-stage,62%16%18%20%14%Mid-stage,19%10%8%11%8%Late-stage,9%6%8%6%8%Other,11%200222023Insurtech:Top equity deals in Q42398State of Fin
110、tech|Collection Spotlights|InsurtechCompanyRound AmountRoundDateRound Valuation Select InvestorsCountry%of Total Funding1Next Insurance$265MSeries G2023-11-01N/A Allianz X,Allstate Strategic VenturesUnited States24.0%2Devoted Health$175MSeries E2023-12-29$12.9BFearless Ventures,GIC,Maverick Ventures
111、,Stardust Equity,The Space BetweenUnited States15.9%3InsuranceDekho$60MSeries B2023-10-11$700MMitsubishi UFJ Financial Group,Avataar Venture Partners,Goldman Sachs Asset Management,TVS Capital,Beams Fintech FundIndia5.4%4Nirvana$57MSeries B2023-10-17$350MLightspeed Venture Partners,General Catalyst,
112、Valor Equity PartnersUnited States5.2%5AgentSync$50MSeries B2023-10-26N/A Craft Ventures,Valor Equity PartnersUnited States4.5%6Igloo$36MSeries B2023-12-04N/A Eurazeo,La Maison,Openspace VenturesSingapore3.3%7Brella Insurance$29MSeries B2023-11-27N/A Plug and Play Ventures,Two Sigma VenturesUnited S
113、tates2.6%8Cowbell Cyber$25MSeries C2023-11-01N/A Prosperity7 VenturesUnited States2.3%8Lassie$25MSeries B2023-11-28N/ABalderton Capital,Felix Capital,Inventure,Passion Capital,Philian InvestSweden2.3%10Roofr$24MSeries A2023-10-18N/AVertical Venture Partners,ACE&Company,Bullpen Capital,Interplay Vent
114、ures,ABC SupplyUnited States2.1%Quarterly new&total unicorns99State of Fintech|Collection Spotlights|Insurtech1New Unicorns,038383839Total Unicorns,39Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual exits100State of Fintech|Collection Spotlights|Insurtech1IPO,078M&A,563SPAC,3201920
115、20202120222023Quarterly exits101State of Fintech|Collection Spotlights|InsurtechIPO,014121813M&A,132SPAC,1Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Capital Markets Tech102Annual funding&deals103State of Fintech|Collection Spotlights|Capital Markets Tech$2.0B$2.3B$4.7B$3.9BFunding$1
116、.7B9Deals0200$0.0B$0.5B$1.0B$1.5B$2.0B$2.5B$3.0B$3.5B$4.0B$4.5B$5.0B200222023Quarterly funding&deals104State of Fintech|Collection Spotlights|Capital Markets Tech$0.7B$0.7B$0.3B$0.3B$0.4B$0.5B$0.8B$0.6B$0.7B$0.9B$1.6B$1.5B$1.3B$1.5B$0.9B$0.3B$0.5B$0.6B$0.3BFunding$0.
117、2B504635404495254484136502528Deals23007080$0.0B$0.2B$0.4B$0.6B$0.8B$1.0B$1.2B$1.4B$1.6B$1.8BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023105State of Fintech|Collection Spotlights|Capital Markets TechEurope$0.1B7 DealsUS$44M8 DealsLatAm$6M2 DealsAsia$6M5 DealsCana
118、da$2M1 DealFunding&deals by global region in Q423Percent of quarterly deals by global region106State of Fintech|Collection Spotlights|Capital Markets Tech54%50%60%45%51%42%36%45%45%43%51%58%41%52%39%31%44%60%46%US,35%12%13%14%23%17%24%30%16%25%24%16%21%15%15%10%14%14%12%21%Asia,22%28%28%20%25%27%26%
119、20%29%27%17%27%15%30%27%37%36%32%12%25%Europe,30%5%7%LatAm,9%7%7%6%7%Canada,4%6%Africa,0%5%5%9%6%6%8%Oceania,0%All Other Regions,0%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual average&median deal size107State of Fintech|Collection Spotlights|Capital Markets Tech$15.8M$16.9M$31.
120、2M$26.6M$18.5M201920212023Average Deal Size$4.0M$4.5M$6.4M$7.5M$5.5M201920212023Median Deal SizeAnnual percent of deals by deal stage108State of Fintech|Collection Spotlights|Capital Markets Tech63%63%61%55%Early-stage,48%15%14%20%22%Mid-stage,18%11%10%11%12%Late-stage,16%12%13%8%11%Other,18%2019202
121、0202120222023Capital Markets Tech:Top equity deals in Q423109State of Fintech|Collection Spotlights|Capital Markets TechCompanyRound AmountRoundDateRound Valuation Select InvestorsCountry%of Total Funding1Fnality$95MSeries B2023-11-13N/ABNP Paribas,Goldman Sachs,Euroclear,Nomura Holdings,Depository
122、Trust&Clearing CorporationUnited Kingdom47.9%2Nasdaq Private Market$21MConvertible Note2023-10-09N/A Undisclosed InvestorsUnited States10.8%3Accelex$15MSeries A2023-11-02N/AFactSet,AlbionVC,Expon Capital,Illuminate Financial Management,SixThirtyUnited Kingdom7.5%3Zenfinex$15MSeries B2023-12-18N/A Os
123、car Hilt Tatum IVUnited Kingdom7.5%5Standard Metrics$10MSeries A2023-12-01N/A J17 CapitalUnited States5.0%6Impaakt$8MSeed2023-10-10N/A Undisclosed InvestorsSwitzerland4.0%7Wave Digital Assets$7MConvertible Note2023-12-11N/A Undisclosed InvestorsUnited States3.6%8Climate Alpha$5MSeed VC2023-11-23N/A
124、Jungle VenturesSingapore2.5%8IncubEx$5MUndisclosed2023-11-02N/A Undisclosed InvestorsUnited States2.6%10Auquan$4MSeed VC2023-10-18N/ANeotribe Ventures,Episode 1 Ventures,Stage 2 CapitalUnited Kingdom1.8%10DEEP ESG$4MSeed VC2023-12-14N/A Citrino Ventures,Vibra Ventures,BVBrazil2.3%10Weefin$4MSeries A
125、2023-11-27N/A IRIS,Ring CapitalFrance2.2%Quarterly new&total unicorns110State of Fintech|Collection Spotlights|Capital Markets Tech1New Unicorns,014141515Total Unicorns,15Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual exits111State of Fintech|Collection Spotlights|Capital Markets
126、 TechIPO,027M&A,311SPAC,0200222023Quarterly exits112State of Fintech|Collection Spotlights|Capital Markets TechIPO,061285M&A,6SPAC,0Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Geographic Trends113US Trends114Annual funding&deals115State of Fintech|Geographic Trends|US Tren
127、ds$21.8B$24.5B$67.1B$35.6BFunding$21.8B1,5381,5592,3652,279Deals1,55205001,0001,5002,0002,5003,000$0.0B$10.0B$20.0B$30.0B$40.0B$50.0B$60.0B$70.0B$80.0B200222023Quarterly funding&deals116State of Fintech|Geographic Trends|US Trends$5.6B$5.3B$5.0B$5.8B$5.0B$6.3B$6.6B$6.6B$15.6B$15.7B$15.8B$
128、20.0B$15.7B$9.8B$5.8B$4.3B$10.7B$3.9B$3.5BFunding$3.7B42236939335445795846556426530368373Deals28400500600700800$0.0B$5.0B$10.0B$15.0B$20.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual percent of deals by deal stage117State of Fintech|Geographic
129、Trends|US Trends63%62%64%68%Early-stage,70%16%15%16%11%Mid-stage,10%9%9%10%7%Late-stage,8%12%14%10%14%Other,13%200222023US:Top equity deals in Q423118State of Fintech|Geographic Trends|US TrendsCompanyRound AmountRoundDateRound Valuation Select InvestorsCountry%of Total Funding1Metropolis
130、$1.0BSeries C2023-10-05N/A3L,Eldridge,Assembly Ventures,Slow Ventures,BDT&MSD PartnersUnited States28.7%2Next Insurance$265MSeries G2023-11-01N/A Allianz X,Allstate Strategic VenturesUnited States7.2%3Devoted Health$175MSeries E2023-12-29$12.9BFearless Ventures,GIC,Maverick Ventures,Stardust Equity,
131、The Space BetweenUnited States4.8%4Vestwell$125MSeries D2023-12-21$1.0BLightspeed Venture Partners,Fin Capital,FinTech Collective,Primary Venture Partners,Blue Owl CapitalUnited States3.4%5Enable$120MSeries D2023-11-07$1.1BLightspeed Venture Partners,Insight Partners,Norwest Venture Partners,Menlo V
132、entures,Sierra VenturesUnited States3.3%6Imprint$75MSeries B2023-11-13$240MRibbit Capital,Kleiner Perkins Caufield&Byers,Thrive Capital,Moore Capital Management,Lachy GroomUnited States2.0%7Stampli$61MSeries D2023-10-03N/ABlackstone,Insight Partners,Bloomberg Beta,Next World Capital,SignalFireUnited
133、 States1.7%8Black Ore$60MSeries A2023-11-07N/AAndreessen Horowitz,Oak HC/FT Partners,General Catalyst,Founders Fund,Khosla VenturesUnited States1.6%8Pontera$60MSeries D2023-12-07N/AICONIQ Growth,Lightspeed Venture Partners,Blumberg Capital,Hanaco Ventures,The Founders KitchenUnited States1.6%10Nirva
134、na$57MSeries B2023-10-17$350MLightspeed Venture Partners,General Catalyst,Valor Equity PartnersUnited States1.6%Annual exits119State of Fintech|Geographic Trends|US Trends5IPO,1268M&A,2246SPAC,4200222023Quarterly exits120State of Fintech|Geographic Trends|US Trends1IPO,055665851M&A,492SPA
135、C,2Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023US:Top investors by company count in Q423121State of Fintech|Geographic Trends|US TrendsInvestorCompany Count Investor GroupCountry1Plug and Play Ventures13VCUnited States2Lightspeed Venture Partners7VCUnited States3Andreessen Horowitz6V
136、CUnited States3Fin Capital6VCUnited States3General Catalyst6VCUnited States6Clocktower Technology Ventures5VCUnited States6Gaingels5AngelUnited States6Insight Partners5VCUnited StatesSilicon Valley122Quarterly funding&deals123State of Fintech|Geographic Trends|Silicon Valley$2.0B$2.8B$2.2B$2.6B$1.1B
137、$2.9B$3.1B$1.8B$7.1B$5.4B$6.3B$5.2B$4.7B$2.9B$1.9B$1.1B$8.1B$0.8B$1.0BFunding$0.7B979399401396480Deals360204060800$0.0B$1.0B$2.0B$3.0B$4.0B$5.0B$6.0B$7.0B$8.0B$9.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual percent of deals by deal
138、stage124State of Fintech|Geographic Trends|Silicon Valley65%66%64%70%Early-stage,74%18%16%21%17%Mid-stage,14%11%11%11%Late-stage,6%6%7%8%Other,6%200222023Silicon Valley:Top equity deals in Q423125State of Fintech|Geographic Trends|Silicon ValleyCompanyRound AmountRoundDateRound Valuation
139、Select Investors%of Total Funding1Next Insurance$265MSeries G2023-11-01N/A Allianz X,Allstate Strategic Ventures37.9%2Enable$120MSeries D2023-11-07$1.1BLightspeed Venture Partners,Insight Partners,Norwest Venture Partners,Menlo Ventures,Sierra Ventures17.2%3Stampli$61MSeries D2023-10-03N/ABlackstone
140、,Insight Partners,Bloomberg Beta,Next World Capital,SignalFire8.7%4Nirvana$57MSeries B2023-10-17$350MLightspeed Venture Partners,General Catalyst,Valor Equity Partners8.2%5Cowbell Cyber$25MSeries C2023-11-01N/A Prosperity7 Ventures3.6%New York126Quarterly funding&deals127State of Fintech|Geographic
141、Trends|New York$1.3B$1.0B$0.7B$0.9B$1.2B$1.3B$1.1B$2.1B$3.5B$3.9B$3.8B$6.6B$4.8B$2.4B$1.4B$1.0B$1.0B$0.9B$1.0BFunding$1.8B877589748768889081118165Deals620204060800$0.0B$1.0B$2.0B$3.0B$4.0B$5.0B$6.0B$7.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annu
142、al percent of deals by deal stage128State of Fintech|Geographic Trends|New York68%64%65%72%Early-stage,72%16%17%16%11%Mid-stage,11%7%10%10%7%Late-stage,8%9%10%9%9%Other,10%200222023New York:Top equity deals in Q423129State of Fintech|Geographic Trends|New YorkCompanyRound AmountRoundDateR
143、ound Valuation Select Investors%of Total Funding1Metropolis$1.0BSeries C2023-10-05N/A 3L,Eldridge,Assembly Ventures,Slow Ventures,BDT&MSD Partners58.9%2Vestwell$125MSeries D2023-12-21$1.0BLightspeed Venture Partners,Fin Capital,FinTech Collective,Primary Venture Partners,Blue Owl Capital7.0%3Imprint
144、$75MSeries B2023-11-13$240MRibbit Capital,Kleiner Perkins Caufield&Byers,Thrive Capital,Moore Capital Management,Lachy Groom4.2%4Pontera$60MSeries D2023-12-07N/AICONIQ Growth,Lightspeed Venture Partners,Blumberg Capital,Hanaco Ventures,The Founders Kitchen3.4%5Candex$45MSeries B2023-11-28N/AGS Growt
145、h,Craft Ventures,Edenred Capital Partners,J.P.Morgan,NFX2.5%Boston130Quarterly funding&deals131State of Fintech|Geographic Trends|Boston$553M$79M$287M$154M$667M$163M$81M$505M$548M$945M$894M$462M$369M$845M$208M$49M$43M$205M$189MFunding$94M3027220404191916Deals53035404
146、550$0.0B$0.1B$0.2B$0.3B$0.4B$0.5B$0.6B$0.7B$0.8B$0.9B$1.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual percent of deals by deal stage132State of Fintech|Geographic Trends|Boston70%62%63%67%Early-stage,68%13%18%21%14%Mid-stage,8%9%12%12%7%Late-stage,13%9%8%12%Other,11%2019202020
147、2120222023Boston:Top equity deals in Q423133State of Fintech|Geographic Trends|BostonCompanyRound AmountRoundDateRound Valuation Select Investors%of Total Funding1Proof$28MSeries D2023-10-12N/A Undisclosed Investors29.6%2Overstory$14MSeries A2023-10-19N/A B Capital Group,The Nature Conservancy14.9%3
148、Veruna$10MSeries B2023-10-17N/ABerkeley Ventures,CoVerica,Guidewire Software,The Institutes,EMC Insurance Group10.6%4Almond FinTech$7MSeries A2023-11-10N/A Undisclosed Investors7.4%4Coin Metrics$7MSeries C2023-10-18N/A Castle Island Ventures,Highland Capital Partners7.1%4Panoptic$7MSeed VC2023-11-20
149、N/AGreenfield Capital,gumi Cryptos,Comma3 Ventures,HashKey Capital7.4%Canada Trends134Annual funding&deals135State of Fintech|Geographic Trends|Canada Trends$1.1B$0.2B$3.3B$1.4BFunding$0.8B9898159172Deals880204060800180200$0.0B$0.5B$1.0B$1.5B$2.0B$2.5B$3.0B$3.5B200222023Quarter
150、ly funding&deals136State of Fintech|Geographic Trends|Canada Trends$192M$155M$384M$408M$50M$70M$49M$64M$745M$1,042M$1,095M$442M$644M$348M$150M$291M$290M$160M$123MFunding$273M292326203220264433035262219Deals2060708090$0.0B$0.2B$0.4B$0.6B$0.8B$1.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4
151、Q1Q2Q3Q4200222023Annual percent of deals by deal stage137State of Fintech|Geographic Trends|Canada Trends65%66%65%75%Early-stage,70%16%12%7%Mid-stage,14%6%7%11%5%Late-stage,5%12%22%11%13%Other,11%200222023Canada:Top equity deals in Q423138State of Fintech|Geographic Trends|Cana
152、da TrendsCompanyRound AmountRoundDateRound Valuation Select Investors%of Total Funding1KOHO$63MSeries D2023-12-07$589M TTV Capital,BDC Capital,Drive Capital,Eldridge,HOOPP23.1%2Clearco$60MSeries D2023-10-04N/A Inovia Capital,Founders Circle Capital22.0%3Procurify$50MSeries C2023-10-17N/ATen Coves Ca
153、pital,HarbourVest Partners,Information Venture Partners,Export Development Canada18.3%4Wellington-Altus$40MUndisclosed2023-12-07N/A The Cynosure Group14.6%5Arteria AI$30MSeries B2023-10-26N/AGGV Capital,BDC Capital,Citi SPRINT,Illuminate Financial Management,Information Venture Partners11.0%6Coincha
154、nge$10MSeries B2023-11-29N/AAtoia Ventures,G1 Ventures,Good News Ventures,K2&Associates,SPIRIT Blockchain Capital3.7%7QuoteMachine$4MSeed VC2023-10-17N/AManresa Ventures,Clocktower Technology Ventures,Precursor Ventures1.4%7VirgoCX$4MSeries A2023-10-13N/A Nextport Capital,Skylean Capital,Waterdrip C
155、apital1.3%9Noble$3MSeed VC2023-10-24N/APolychain Capital,Borderless Capital,Circle Ventures,Wintermute Ventures1.2%10Fairblock$2MPre-Seed2023-10-06N/AGalileo Ventures,Chorus One,Dialectic,DoraHacks,GSR Capital0.7%10Leav$2MSeed VC2023-12-08N/A Exo100.6%10Stratosphere$2MSeed VC2023-11-14N/A Social Lev
156、erage0.6%10Woveo$2MSeed VC2023-12-15N/A BKR Capital,Relay Ventures,The Northpine Foundation0.6%Annual exits139State of Fintech|Geographic Trends|Canada Trends2IPO,131M&A,182SPAC,0200222023Quarterly exits140State of Fintech|Geographic Trends|Canada TrendsIPO,18532M&A,8SPAC,0Q1Q2Q3Q4Q1Q2Q3Q
157、4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Canada:Top investors by company count in Q423141State of Fintech|Geographic Trends|Canada TrendsInvestorCompany Count Investor Group1Portage4VC2BDC Capital2VC2BKR Capital2VC2Information Venture Partners2VC2Relay Ventures2VCAsia Trends142Annual funding&dea
158、ls143State of Fintech|Geographic Trends|Asia Trends$13.1B$10.4B$24.9B$16.7BFunding$7.3B1,0089681,4881,431Deals76502004006008001,0001,2001,4001,600$0.0B$5.0B$10.0B$15.0B$20.0B$25.0B$30.0B200222023Quarterly funding&deals144State of Fintech|Geographic Trends|Asia Trends$4.8B$2.2B$2.8B$3.3B$3
159、.5B$2.2B$2.3B$2.4B$4.4B$5.4B$6.4B$8.7B$5.9B$4.6B$3.1B$3.0B$1.8B$1.1B$2.3BFunding$2.1B26020029825023373334064275233201177Deals00400500600700$0.0B$1.0B$2.0B$3.0B$4.0B$5.0B$6.0B$7.0B$8.0B$9.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual percent of
160、deals by deal stage145State of Fintech|Geographic Trends|Asia Trends68%65%69%72%Early-stage,73%17%16%15%12%Mid-stage,11%11%12%12%10%Late-stage,9%7%5%Other,7%200222023Asia:Top equity deals in Q423146State of Fintech|Geographic Trends|Asia TrendsCompanyRound AmountRoundDateRound Valuation S
161、elect InvestorsCountry%of Total Funding1Tamara$340MSeries C2023-12-18$1.0BSNB Capital,Sanabil Investments,C,Coatue,EndeavorSaudi Arabia16.5%2Alpheya$300MUndisclosed2023-11-21N/A BNY Mellon,LunateUnited Arab Emirates14.5%3Investree$231MSeries D2023-10-04N/A JTA Holding,SBI GroupIndonesia11.2%4Tabby$2
162、00MSeries D2023-11-01$1.5BWellington Management Company,Arbor Ventures,Mubadala Capital,PayPal Ventures,Peak XV PartnersSaudi Arabia9.7%5InCred$60MSeries D2023-11-09$1.0B Salarpuria Sattva Group,Varanium CapitalIndia2.9%5InsuranceDekho$60MSeries B2023-10-11$700MMitsubishi UFJ Financial Group,Avataar
163、 Venture Partners,Goldman Sachs Asset Management,TVS Capital,Beams Fintech FundIndia2.9%5Shinhan Card$60MUndisclosed2023-10-25N/A International Finance CorporationSouth Korea2.9%5Shinhan Finance$60MUndisclosed2023-10-25N/A International Finance CorporationKazakhstan2.9%9YouTrip$50MSeries B2023-10-26
164、N/A LightspeedSingapore2.4%10Andalusia Labs$48MSeries A2023-12-13$1.0BLightspeed Venture Partners,Bain Capital Ventures,Digital Currency Group,Framework Ventures,Pantera CapitalUnited Arab Emirates2.3%Annual exits147State of Fintech|Geographic Trends|Asia Trends12IPO,15101M&A,891SPAC,3200
165、222023Quarterly exits148State of Fintech|Geographic Trends|Asia Trends3346IPO,214301819M&A,2211SPAC,1Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Asia:Top investors by company count in Q423149State of Fintech|Geographic Trends|Asia TrendsInvestorCompany Count Investor GroupCountry1Ant
166、ler6VCSingapore2Hyperithm5CorpJapan3Openspace Ventures4VCSingapore3Peak XV Partners4VCIndiaIndia150Quarterly funding&deals151State of Fintech|Geographic Trends|India$1.0B$0.5B$0.9B$2.0B$0.8B$0.3B$0.5B$0.5B$0.8B$1.4B$2.3B$3.0B$1.8B$1.6B$0.9B$0.5B$0.6B$0.2B$0.7BFunding$0.3B52475948710911813
167、3929563495036Deals34020406080100120140$0.0B$0.5B$1.0B$1.5B$2.0B$2.5B$3.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual percent of deals by deal stage152State of Fintech|Geographic Trends|India63%67%72%72%Early-stage,73%20%16%13%13%Mid-stage,10%13%10%12%11%Late-stage,10%6%Other,7
168、%200222023India:Top equity deals in Q423153State of Fintech|Geographic Trends|IndiaCompanyRound AmountRoundDateRound Valuation Select Investors%of Total Funding1InCred$60MSeries D2023-11-09$1.0B Salarpuria Sattva Group,Varanium Capital19.3%1InsuranceDekho$60MSeries B2023-10-11$700MMitsubi
169、shi UFJ Financial Group,Avataar Venture Partners,Goldman Sachs Asset Management,TVS Capital,Beams Fintech Fund19.3%3Aye$37MSeries F2023-12-13N/ABritish International Investment,A91 Partners,Waterfield Advisors12.0%4Pennant Technologies$32MCorporate Minority2023-10-17$124M Bajaj Finserv10.3%5Scapia$2
170、3MSeries A2023-11-21N/AElevation Capital,Three State Capital,Matrix Partners India,Tanglin Venture Partners7.4%Singapore154Quarterly funding&deals155State of Fintech|Geographic Trends|Singapore$1.9B$0.5B$0.4B$0.1B$1.0B$0.2B$0.4B$0.2B$0.5B$1.3B$1.1B$1.2B$0.9B$1.0B$0.3B$1.1B$0.6B$0.2B$0.1BFunding$0.2B
171、302243263336369464847443231Deals2700708090$0.0B$0.2B$0.4B$0.6B$0.8B$1.0B$1.2B$1.4B$1.6B$1.8B$2.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual percent of deals by deal stage156State of Fintech|Geographic Trends|Singapore70%73%80%77%Early-stage,77%15%11%9%11
172、%Mid-stage,10%8%7%7%Late-stage,8%7%11%5%Other,5%200222023Singapore:Top equity deals in Q423157State of Fintech|Geographic Trends|SingaporeCompanyRound AmountRoundDateRound Valuation Select Investors%of Total Funding1YouTrip$50MSeries B2023-10-26N/A Lightspeed22.3%2Igloo$36MSeries B2023-12
173、-04N/A Eurazeo,La Maison,Openspace Ventures16.0%3SynFutures$22MSeries B2023-10-19N/A Pantera Capital,HashKey Capital,SIG DT Investments9.8%4Validus$20MGrowth Equity2023-12-14N/A 01Fintech8.9%5LXA$10MSeed VC2023-11-09N/A New Enterprise Associates,EDBI,Openspace Ventures4.5%5TripleA$10MSeries A2023-10
174、-25N/A Peak XV Partners,Shorooq Partners4.5%Japan158Quarterly funding&deals159State of Fintech|Geographic Trends|Japan$70M$39M$275M$144M$68M$183M$77M$85M$290M$278M$164M$38M$241M$81M$82M$137M$115M$82M$121MFunding$26M3037272626251726Deals230354045$0M$50M$100M$150M$200M
175、$250M$300M$350MQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual percent of deals by deal stage160State of Fintech|Geographic Trends|Japan63%48%63%57%Early-stage,51%17%18%11%16%Mid-stage,17%19%29%24%22%Late-stage,24%6%5%Other,9%200222023Japan:Top equity deals in Q423161St
176、ate of Fintech|Geographic Trends|JapanCompanyRound AmountRoundDateRound Valuation Select Investors%of Total Funding1WealthPark$9MSeries C2023-11-01N/AAur,Inc.,Chuo-Nittochi Group,HIROTA Holdings,HPM,JFR MIRAI CREATORS Fund34.0%2Yoii$6MSeries A2023-12-08N/AEmellience Partners,Global Brain,Inclusion J
177、apan,Mitsubishi UFJ Trust and Banking,One Capital20.8%3Miletos$4MUndisclosed2023-12-04N/A Yayoi14.2%4Nakano Asset Management$2MUndisclosed2023-11-20N/A SPARX Group7.6%4Wizleap$2MSeries A2023-12-11N/A Marubeni9.1%6ADVISER navi$1MAngel2023-11-09N/A Wataru Endo3.0%6LUCA$1MSeed VC2023-10-31N/A Delight V
178、entures5.5%6Pbadao$1MSeed2023-10-19N/A Undisclosed Investors4.3%Europe Trends162Annual funding&deals163State of Fintech|Geographic Trends|Europe Trends$8.8B$9.7B$27.3B$18.1BFunding$6.5B9269611,3191,333Deals89802004006008001,0001,2001,4001,6001,800$0.0B$5.0B$10.0B$15.0B$20.0B$25.0B$30.0B20
179、0222023Quarterly funding&deals164State of Fintech|Geographic Trends|Europe Trends$2.8B$2.2B$2.1B$1.7B$2.4B$2.3B$2.7B$2.3B$5.7B$9.1B$6.4B$6.1B$6.8B$5.7B$3.6B$2.0B$1.9B$1.6B$1.3BFunding$1.7B243256222228394079243192Deals0200250300350400450500$0.0B$1.0B$2.0B$3
180、.0B$4.0B$5.0B$6.0B$7.0B$8.0B$9.0B$10.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual percent of deals by deal stage165State of Fintech|Geographic Trends|Europe Trends70%68%71%75%Early-stage,74%10%11%11%9%Mid-stage,9%12%12%11%10%Late-stage,9%7%9%7%7%Other,8%200222023Eu
181、rope:Top equity deals in Q423166State of Fintech|Geographic Trends|Europe TrendsCompanyRound AmountRoundDateRound Valuation Select InvestorsCountry%of Total Funding1SumUp$307MSeries F2023-12-11N/ASixth Street Growth,Bain Capital Tech Opportunities,Fin Capital,LiquidityUnited Kingdom18.1%2Blockchain$
182、110MSeries E2023-11-14$7.0BKingsway Capital Partners,Lightspeed Venture Partners,Baillie Gifford,Google Ventures,LakestarUnited Kingdom6.5%3Sport Alliance$100MGrowth Equity2023-11-27N/A PSGGermany5.9%4Fnality$95MSeries B2023-11-13N/ABNP Paribas,Goldman Sachs,Euroclear,Nomura Holdings,Depository Trus
183、t&Clearing CorporationUnited Kingdom5.6%5PaySend$65MSeries C2023-11-29N/AMastercard,Hermes GPE,InfraVia Capital,One Peak PartnersUnited Kingdom3.8%5Scalable Capital$65MSeries E2023-12-07$1.4B Balderton Capital,HV CapitalGermany3.8%7Brite$60MSeries B2023-10-04N/A Dawn Capital,Headline,Incore Software
184、Sweden3.5%8Monument Bank$49MSeries B2023-11-08$641M Dubai InvestmentsUnited Kingdom2.9%9Indy$44MSeries C2023-11-21N/A BlackFin Capital Partners,iXO Private Equity,La MaisonFrance2.6%10qomodo$37MPre-Seed2023-11-07N/AExor Ventures,Fasanara Capital,Ithaca Investment,Lumen Ventures,Notion CapitalItaly2.
185、2%Annual exits167State of Fintech|Geographic Trends|Europe Trends6IPO,4255M&A,1962SPAC,2120222023Quarterly exits168State of Fintech|Geographic Trends|Europe Trends12IPO,162544943M&A,50SPAC,1Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Europe:Top investors by company count i
186、n Q423169State of Fintech|Geographic Trends|Europe TrendsInvestorCompany Count Investor GroupCountry1Northzone4VCUnited Kingdom213books3VCUnited Kingdom2Dialectic3VCSwitzerland2Eurazeo3Private EquityFrance2HV Capital3VCGermany2Index Ventures3VCUnited Kingdom2Maven 11 Capital3VCNetherlands2Notion Cap
187、ital3VCUnited Kingdom2Picus Capital3VCGermany2Speedinvest3VCAustriaUnited Kingdom170Quarterly funding&deals171State of Fintech|Geographic Trends|United Kingdom$1.2B$1.1B$0.5B$0.7B$1.3B$1.1B$1.4B$1.1B$3.0B$2.6B$3.6B$3.0B$2.8B$2.5B$0.8B$0.9B$0.8B$0.6B$0.6BFunding$0.9B959071141531
188、209792867362Deals690204060800$0.0B$0.5B$1.0B$1.5B$2.0B$2.5B$3.0B$3.5B$4.0BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual percent of deals by deal stage172State of Fintech|Geographic Trends|United Kingdom69%66%70%71%Early-stage,70%12%12%12%11%Mid-stage,10%13%11%13%11%La
189、te-stage,11%6%11%5%7%Other,9%200222023United Kingdom:Top equity deals in Q423173State of Fintech|Geographic Trends|United KingdomCompanyRound AmountRoundDateRound Valuation Select Investors%of Total Funding1SumUp$307MSeries F2023-12-11N/ASixth Street Growth,Bain Capital Tech Opportunities
190、,Fin Capital,Liquidity34.1%2Blockchain$110MSeries E2023-11-14$7.0BKingsway Capital Partners,Lightspeed Venture Partners,Baillie Gifford,Google Ventures,Lakestar12.2%3Fnality$95MSeries B2023-11-13N/ABNP Paribas,Goldman Sachs,Euroclear,Nomura Holdings,Depository Trust&Clearing Corporation10.6%4PaySend
191、$65MSeries C2023-11-29N/A Mastercard,Hermes GPE,InfraVia Capital,One Peak Partners7.2%5Monument Bank$49MSeries B2023-11-08$641M Dubai Investments5.5%France174Quarterly funding&deals175State of Fintech|Geographic Trends|France$0.3B$0.2B$0.1B$0.1B$0.3B$0.2B$0.1B$0.2B$0.3B$1.3B$0.4B$0.5B$1.5B$0.8B$0.2B
192、$0.3B$0.3B$0.2B$0.2BFunding$0.2B242725238233246432835343129Deals20$0.0B$0.2B$0.4B$0.6B$0.8B$1.0B$1.2B$1.4B$1.6BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual percent of deals by deal stage176State of Fintech|Geographic Trends|France79%81%78%80%Early-stage,75
193、%8%13%11%11%Mid-stage,12%6%7%7%Late-stage,5%7%Other,8%200222023France:Top equity deals in Q423177State of Fintech|Geographic Trends|FranceCompanyRound AmountRoundDateRound Valuation Select Investors%of Total Funding1Indy$44MSeries C2023-11-21N/A BlackFin Capital Partners,iXO Private Equit
194、y,La Maison22.7%2Colonies$32MSeries B2023-12-05N/A Allianz,Credit Mutuel Impact,Eurazeo16.7%3Pivot$22MSeries A2023-12-13N/A Anamcara Capital,Emblem,Oliver Samwer,Visionaries Club11.1%4Aria$16MSeries A2023-12-12N/A13books,Adevinta Ventures,Otium Capital,Guillaume Princen,Laurent Ritter8.3%5Orus$12MSe
195、ries A2023-10-10N/ANotion Capital,VR Ventures,Frst Capital,Partech Partners,Portage6.0%LatAm Trends178Annual funding&deals179State of Fintech|Geographic Trends|LatAm Trends$3.0B$4.1B$12.9B$3.8BFunding$1.2B229239432463Deals22800500$0.0B$2.0B$4.0B$6.0B$8.0B$10.0B$12.0B$14.0B20022
196、2023Quarterly funding&deals180State of Fintech|Geographic Trends|LatAm Trends$0.2B$1.5B$0.8B$0.5B$0.5B$0.9B$1.3B$1.4B$1.3B$6.0B$3.5B$1.9B$1.3B$1.2B$0.6B$0.6B$0.3B$0.3B$0.3BFunding$0.4B5348666264476365776236Deals530204060800180200$0.0B$1.0B$2.0B$3.0B$4.0B$5.0B$6.0BQ1Q
197、2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual percent of deals by deal stage181State of Fintech|Geographic Trends|LatAm Trends74%76%74%79%Early-stage,84%10%7%12%7%Mid-stage,6%12%10%9%7%Late-stage,6%8%7%Other,4%200222023LatAm:Top equity deals in Q423182State of Fintech|Ge
198、ographic Trends|LatAm TrendsCompanyRound AmountRoundDateRound Valuation Select InvestorsCountry%of Total Funding1QI Tech$200MSeries B2023-10-31$1.0B General Atlantic,Across CapitalBrazil54.5%2Kapital$40MSeries B2023-12-14N/ATribe Capital,MS&AD Ventures,Alumni Ventures,Cervin Ventures,Tru Arrow Partn
199、ersMexico10.9%3CondoConta$15MSeries A2023-10-05N/AIgah Ventures,Redpoint eventures,EXT Capital,SYN Proptech,Terracotta VenturesBrazil4.0%3GoPass$15MSeries A2023-11-13N/A Kaszek VenturesColombia4.1%5Cobre$13MSeries B2023-10-05N/A Kaszek Ventures,Atlantico,Canary VC,QED InvestorsColombia3.5%6Nonco$10M
200、Seed VC2023-12-04N/AHack VC,Valor Capital Group,Bastion Trading,Bullish,CMCC GlobalMexico2.7%6Nonco$10MConvertible Note2023-12-04N/A Undisclosed InvestorsMexico2.7%8Verqor$8MSeed VC2023-10-31N/AYara Growth Ventures,Accion Venture Lab,Amplifica Capital,SP Ventures,Glocal VenturesMexico2.0%9A de Agro$
201、6MSeries A2023-10-20N/A DXA Invest,Grupo SunoBrazil1.5%9Destaxa$6MSeries A2023-11-24N/AAstella Investimentos,Caravela Capital,Endeavor Scale-Up Brazil,Quona Capital,Supera CapitalBrazil1.7%9Galactic Holdings$6MSeries A2023-11-08N/A Dragonfly,Galaxy Interactive,SHK BayernMexico1.7%9Vixtra$6MSeries A2
202、023-12-26N/A Valor Capital GroupBrazil1.7%Annual exits183State of Fintech|Geographic Trends|LatAm TrendsIPO,059M&A,53200222023Quarterly exits184State of Fintech|Geographic Trends|LatAm TrendsIPO,09181012M&A,13Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023LatAm:Top investors
203、by company count in Q423185State of Fintech|Geographic Trends|LatAm TrendsInvestorCompany Count Investor GroupCountry1Kaszek Ventures3VCArgentina2G2 Momentum Capital2VCMexicoBrazil186Quarterly funding&deals187State of Fintech|Geographic Trends|Brazil$0.1B$0.4B$0.7B$0.2B$0.3B$0.7B$0.8B$0.8B$1.2B$4.1B
204、$1.4B$1.0B$0.9B$0.4B$0.3B$0.2B$0.1B$0.1B$0.2BFunding$0.2B2828293566312921Deals20607080$0.0B$0.5B$1.0B$1.5B$2.0B$2.5B$3.0B$3.5B$4.0B$4.5BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual percent of deals by deal stage188State of Fintech|Geographic Tre
205、nds|Brazil71%74%71%74%Early-stage,80%12%6%13%7%Mid-stage,7%15%14%10%10%Late-stage,8%6%6%8%Other,5%200222023Brazil:Top equity deals in Q423189State of Fintech|Geographic Trends|BrazilCompanyRound AmountRoundDateRound Valuation Select Investors%of Total Funding1QI Tech$200MSeries B2023-10-3
206、1$1.0B General Atlantic,Across Capital81.4%2CondoConta$15MSeries A2023-10-05N/AIgah Ventures,Redpoint eventures,EXT Capital,SYN Proptech,Terracotta Ventures6.0%3A de Agro$6MSeries A2023-10-20N/A DXA Invest,Grupo Suno2.3%3Destaxa$6MSeries A2023-11-24N/AAstella Investimentos,Caravela Capital,Endeavor
207、Scale-Up Brazil,Quona Capital,Supera Capital2.5%3Vixtra$6MSeries A2023-12-26N/A Valor Capital Group2.5%Africa Trends190Annual funding&deals191State of Fintech|Geographic Trends|Africa Trends$0.4B$0.3B$1.6B$1.1BFunding$0.8B0Deals0200250300350$0.0B$0.2B$0.4B$0.6B$0.8B$1.0B$1.2B$1
208、.4B$1.6B$1.8B200222023Quarterly funding&deals192State of Fintech|Geographic Trends|Africa Trends$20M$77M$83M$177M$22M$74M$41M$133M$74M$70M$1,106M$368M$402M$383M$108M$160M$389M$182M$125MFunding$112M36303424055604043Deals26020406080100$0M$200M$400M$600M$800M$1,000M$1,2
209、00MQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual percent of deals by deal stage193State of Fintech|Geographic Trends|Africa Trends84%84%90%90%Early-stage,83%Mid-stage,6%10%5%Late-stage,5%7%5%Other,7%200222023Africa:Top equity deals in Q423194State of Fintech|Geographi
210、c Trends|Africa TrendsCompanyRound AmountRoundDateRound Valuation Select InvestorsCountry%of Total Funding1Cash Plus$60MPrivate Equity2023-10-10N/A Mediterrania Capital Partners,FMO,IFCMorocco53.9%2Pineapple$21MSeries B2023-11-14N/AFuturegrowth Asset Management,MIC Capital,Talent Holdings,ASISA ESD
211、Fund,Entrepreneurs for Entrepreneurs AfricaSouth Africa19.1%3Apollo Agriculture$7MSeries B2023-11-16N/A AnthemisKenya6.2%4Welltec$5MUndisclosed2023-11-17N/A Legacy Africa Fund ManagersSouth Africa4.9%5MyCredit$3MUndisclosed2023-12-19N/A BlueOrchardKenya2.7%5Shekel$3MSeed VC2023-11-13N/AMaC Venture C
212、apital,Ventures Platform,Y Combinator,Heirloom BrandsNigeria2.9%7Djamo$2MConvertible Note2023-11-27N/A Undisclosed InvestorsCote DIvoire1.8%7Inclusivity Solutions$2MSeries A2023-10-30N/A Goodwell InvestmentsSouth Africa1.3%7Sukhiba$2MSeed VC2023-10-25N/ACRE Venture Capital,Antler,Chandaria Capital,E
213、Q2 Ventures,Goodwater CapitalKenya1.3%7Zeepay$2MSeries A2023-10-30N/A Injaro InvestmentsGhana1.8%Annual exits195State of Fintech|Geographic Trends|Africa TrendsIPO,022M&A,02120222023Quarterly exits196State of Fintech|Geographic Trends|Africa TrendsIPO,0545M&A,5Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2
214、Q3Q4Q1Q2Q3Q4200222023Oceania Trends197Annual funding&deals198State of Fintech|Geographic Trends|Oceania Trends$0.7B$1.1B$2.0B$1.0BFunding$0.5B7072144112Deals700204060800$0.0B$0.5B$1.0B$1.5B$2.0B$2.5B200222023Quarterly funding&deals199State of Fintech|Geographic Trend
215、s|Oceania Trends$155M$35M$353M$139M$198M$400M$96M$443M$458M$518M$680M$354M$360M$115M$182M$335M$138M$69M$67MFunding$269M97422Deals50$0.0B$0.1B$0.2B$0.3B$0.4B$0.5B$0.6B$0.7BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Annual percent of deals b
216、y deal stage200State of Fintech|Geographic Trends|Oceania Trends66%57%66%75%Early-stage,76%19%18%13%12%Mid-stage,7%9%19%12%7%Late-stage,11%7%6%9%6%Other,6%200222023Oceania:Top equity deals in Q423201State of Fintech|Geographic Trends|Oceania TrendsCompanyRound AmountRoundDateRound Valuati
217、on Select InvestorsCountry%of Total Funding1Employment Hero$167MSeries F2023-10-18$1.4BTechnology Crossover Ventures,Insight Partners,AirTree Ventures,OneVentures,SeekAustralia62.1%2ROLLER$50MSeries D2023-11-10N/A Insight Partners,Acadian SoftwareAustralia18.6%3Rich Data Co$18MSeries B2023-11-30N/A
218、Westpac Group,nCino,BMY Group,OctavaAustralia6.5%4Infinitystake$12MVenture Capital2023-10-08N/A Binance Labs,Delphi VenturesAustralia4.5%5OMTrade$6MSeed VC2023-11-17N/AFind Satoshi Lab,Folius Ventures,Incuba Alpha,KSK Angel Fund,Meteorite LabsAustralia2.2%64EVERLAND$2MSeed VC2023-12-20N/AArweave,Bin
219、g Ventures,GTS Ventures,Hillstone Partners,Waterdrip CapitalAustralia0.7%6Birchal$2MAngel2023-12-21N/A Undisclosed Angel InvestorsAustralia0.6%6Caruso$2MSeed VC2023-11-24N/A Icehouse Ventures,GD1,Chris HeaslipNew Zealand0.7%6Payble$2MSeed VC2023-12-19$7M OIF VenturesAustralia0.6%6Stropro$2MSeed VC20
220、23-11-01N/ALes Szekely,Seed Space Venture Capital,Dale Holmes,Matthew BrowneAustralia0.7%6Touch2Pay$2MSeed2023-11-20N/A Undisclosed InvestorsAustralia0.8%Annual exits202State of Fintech|Geographic Trends|Oceania Trends2IPO,022M&A,02120222023Quarterly exits203State of Fintech|Geographic Tr
221、ends|Oceania TrendsIPO,02634M&A,0Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200222023Oceania:Top investors by company count in Q423204State of Fintech|Geographic Trends|Oceania TrendsInvestorCompany Count Investor GroupCountry1AirTree Ventures2VCAustraliaReport MethodologyYou can download th
222、e underlying data found in this report here:https:/ you have questions about the definitions or methodological principles used,or if you feel that your firm has been underrepresented,please reach out to .What is included:Equity financings into private companies only.Funding rounds raised by public c
223、ompanies of any kind on any exchange(including Pink Sheets)are excluded from our numbers,even if they received investment from a venture firm.Only includes the investment made in the quarter for tranchedinvestments.If a company does a second closing of its Series B round for$5M and previously had cl
224、osed$2M in a prior quarter,only the$5M is reflected.Round numbers reflect what has closed,not what is intended.If a company indicates the closing of$5M out of a desired raise of$15M,our numbers reflect only the amount which has closed.Only verifiable fundings are included.Fundings are verified via(1
225、)various federal and state regulatory filings;(2)direct confirmation with firm or investor;(3)press release;or(4)credible media sources.Equity fundings to joint ventures and spinoffs/spinouts are included.Unicorn data includes private companies valued at$1B or more in the private markets globally,pe
226、r the same 4 sources listed above and relied on for funding events,which include valuations disclosed in credible media sources.The list is maintained publicly and updated in real time at https:/ notes:Israel funding figures are classified in Europe.Rounds to private companies that may be majority-o
227、r minority-owned subsidiaries of other private companies.Valuation data includes estimates to calibrate median and average valuations based on current and previous quarter disclosed valuations gathered from the aforementioned four sources.The estimating method will control for the over-sampling of l
228、arge rounds that are reported quickly versus a comparative lag in valuations obtained from other sources.Valuation data reflects post-money valuations.Exits include IPOs,SPACs,publicly announced M&A deals,and other liquidity events;only first exits are counted.Headquarters are determined by publicly
229、 available sources including company-owned websites and profiles,legal filings,and press releases.All figures in the report are in USD.US financing trends follow the combined statistical area(CSA)methodology.Silicon Valley refers to the San Jose-San Francisco-Oakland CSA.What is excluded:No continge
230、nt funding.If a company receives a commitment for$20M subject to hitting certain milestones but first gets$8M,only the$8M is included in our data.No business development/R&D arrangements,whether transferable into equity now,later,or never.If a company signs a$300M R&D partnership with a larger corpo
231、ration,this is not equity financing nor is it from venture capital firms.As a result,it is not included.No buyouts,consolidations,or recapitalizations.All three of these transaction types are commonly employed by private equity firms and are tracked by CB Insights.However,they are excluded for the p
232、urposes of this report.No private placements.These investments,also known as PIPEs(Private Investment in Public Equities),are not included even if made by a venture capital firm.No debt/loans of any kind(except convertible notes).Venture debt or any kind of debt/loan issued to emerging,startup compa
233、nies,even if included as an additional part of an equity financing,is not included.If a company receives$3M with$2M from venture investors and$1M in debt,only the$2M is included in these statistics.No non-equity government funding.Grants or loans by the federal government,state agencies,or public-pr
234、ivate partnerships to emerging,startup companies are not included.No fundings to subsidiaries of a larger parent corporation unless that subsidiary is a private entity and meets other criteria for inclusion.Accelerators,incubators,business-plan competitions,economic-development entities are excluded from rankings of most active investors,even if making equity financings.Rankings for top investors are calculated according to“company count,”or the number of unique companies an investor funds in a quarter,and so excludes follow-on deals.205State of Fintech