Fintech funding Q3 2023
QoQ global fintech funding stable
Global fintech funding fell just 3% quarter-on-quarter (QoQ) to hit $7.4 billion in Q3 2023. The figure points to a significant slow down in the decline of fintech funding, which has seen sharp decreases in most quarters since the end of 2021. This could suggest that Venture capital (VC) investors may be acclimatising to the current macroeconomic environment, which has been dominated by stubbornly high policy interest rates this year.
The top 3 deals of the quarter were:
Hong Kong-based microfinance platform Micro Connect ($458M Series C)
US-based spend management company Ramp ($300M Series D)
India-based digital lending solution Perfios ($229M Series D)