Is Fintech dead? Ha! Half a billion raised globally just last week!
There’s been a lot of commentary around the globe that fintech is dying, with fintech employees unfortunately losing their jobs and sadly some fintechs closing down altogether.
But is fintech dead?
The naysayers say yes.
The rest, say hell no!
Long live fintech!
And here’s just an example of why it’s living on: just last week there was over US$566 million (A$830 million) invested in fintech and insurtech companies from around the globe.
Over half a billion US dollars raised for fintech companies in just one week!
Here are the details:
- Liechtenstein fintech Unizen received a capital commitment of US$200 million
- UK fintech Cleo raised US$80 million
- French fintech Kaiko raised US$53 million
- US fintech Polysign raised US$50 million
- UK fintech Zilch raised US$50 million
- Indian fintech Progcap raised US$40 million
- US insurtech Spot Insurance raised US$33 million
- Mexican fintech UnDosTres US$30 million
- French insurtech Stoik raised US$11 million
- Indonesian fintech Mapan raised US$15 million
- Danish fintech Vibrant raised US$4 million
So is fintech dead? From all these capital raises it seems that fintech is a long way from dead…