this year, according to CB Insights. The first quarter also saw a drop-off in mega-rounds, which CB defines as worth at least $100 million.
"From insurtech and lending to payments and infrastructure, fintech and big tech players across every vertical are accelerating product development to prepare for the downstream impacts of the coronavirus and a recession," analysts wrote. There were some notable rounds in the digital wealth and investment space raised early this year.
Before the global slowdown started tamping down the breadth of digital wealth companies funded, investors poured billions of dollars into the space as a fresh crop of startups look to challenge legacy investment managers and try to appeal to a new generation of investors.Betterment, the New York-based robo-adviser, last publicly announced a round of funding in 2017, a $70 million round led by the Swedish investment company Kinnevik.
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