Early stage fintechs missed out on funding last year, but in concert with other key trends throughout 2019, this suggests that the industry is maturing as fintech becomes a truly global movement.
This decline was partly due to a drop in early stage funding, which dipped from $6.5 billion in 2018 to $5.3 billion last year, while deal numbers declined from 1,246 to 1,126. Early stage deals only accounted for 59% of all fintech deals in 2019, marking a five-year low. There was a record-breaking number of mega-rounds in 2019 — and every continent saw at least one. Eighty-three fintechs secured mega-rounds last year, nearly double from 48 in 2018, and there was at least one on every continent — including Africa, for the first time.
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