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Investment in Irish fintechs fell by more than a third last year

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KPMG noted the drop off came as interest rates and input costs across the eurozone continued to increase

That being said, Irish fintech recorded a value increase in investment in the second half of 2022, with investments and transactions reaching $742 million. That was up significantly on the first half, when investment and transactions totalled $259 million.

Anna Scally, head of technology and media at KPMG, said investors may be inhibited by rising interest rates. “That said, M&A activity will likely increase for smaller size deals as corporates and larger fintechs take advantage of competitive valuations. We also expect that good businesses with a unique product or service will continue to attract investment from international players.

 

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