According to Royal Park Partners, there were nearly 500 fintech financings and M & A deals in Quarter 1 in 2024, with insurtech, cryptocurrency, and blockchain emerging as hot areas. There were 248 financings in the fintech sector in the quarter, although their total value fell to $7.80 billion from $14.10 billion in Q4 2023, highlighting continued investor caution against a backdrop of ongoing inflation and geopolitical instability.
The trading value of Insurtech stocks surged 1% month-on-month, significantly outpacing other verticals, including payments (+ 5%) and capital markets/wealth management technology (+ 4%).
Cryptocurrences attracted around 25% of total funding in Quarter 1, while banks and lenders also received significant investment thanks to big funding rounds from companies like Monzo ($430 million), Svatantra ($230 million) and SK Finance ($160 million).
The $35.30 billion agreement between Capital One and Discover, which pushed the total deal value of M & A and financing to $70 billion, dominated the 240 deals.
Cryptocurrencies attracted around 25% of total funding in Q1 2024
2024-05-01 06:58:43
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