~Samriddhi Singh Mahar
The global fintech sector witnessed a sharp decline in funding, going from USD 2.55 billion in November to USD 1.27billion in December, with a total of 47 deals taking place, as per data by 1Lattice.
The top 20 FinTechs globally combined raised approximately USD 0.66 billion in December, which is much lower than the USD 1.81 billion raised in November.
(Source: 1Lattice)
This group’s funding has seen quite a few ups and downs in the past 6 months, reaching the heights of USD 2.04 billion in November to the sharp fall of USD 0.66 billion in December.
In December, Australia’s AZ NGA led with USD 240M from Oaktree Capital. Parafin raised USD 100M from Notable Capital, GIC, and Ribbit Capital. Zopa secured USD 86.6M from A P Moller, Davidson Kempner, and SilverStripe. AwanTunai, an Indonesian fintech, raised USD 60M from Accial Capital.
Here’s the list of the top 10 global fintech fundraises in November 2024:
(Source: 1Lattice)
Fintech Funding scenario in India
Fintechs in India raised around USD 425.5 million, from 6 deals, in the month of December, a sharp rise compared to USD 130.5 million in November.
This marks the highest funding recorded in 2024 since August, when USD 507.8 million was raised across 16 deals.
Shubham, a housing finance solutions provider, led the pack with USD 118 million raised from investors such as Multiples Alternate Asset Management and British Columbia Investment.
They were followed by Annapurna Finance, who raised USD 109.5 million from 10 financial institutions, known across Southeast Asia, the Middle East, and Africa and, Vastu Housing Finance who raised USD 100 million from investors such as Prosus Ventures.
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