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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
LendingClub becomes first fintech to acquire US bank - Business InsiderLendingClub is poised to become the first fintech to buy a US bank in a $185 million deal one analyst called 'amazing news' — here's why it's so transformative
Source: BusinessInsider - 🏆 729. / 51 Read more »
Alan: French health tech startup CEO on transparency and growth - Business InsiderFrench health tech startup Alan has no meetings above 3 people, reveals employee salaries, and has low staff churn. Its CEO explains why it works. CEO ostensibly explains why s/he *thinks* it works.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Hopin: Buzzy tech startup raises $6.5 million from Accel and Northzone - Business InsiderBuzzy online events startup Hopin just raised $6.5 million from Accel and Northzone, after fighting off other major investors
Source: BusinessInsider - 🏆 729. / 51 Read more »
Social commerce startup MikMak is now an e-commerce software platform - Business InsiderSocial video commerce startup MikMak is becoming an e-commerce software platform and promising it can help brands like Hershey and Petco drive more sales
Source: BusinessInsider - 🏆 729. / 51 Read more »
How a Alexis Ohanian-backed startup will open a Drybar for women of color - Business InsiderNaza Beauty raised $1 million from Initialized Capital and is opening a San Francisco salon with a menu of styles to cater to women with textured hair.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Direct to consumer startup Crown Affair's special strategy to acquire customers - Business InsiderThis 28-year-old founder just raised $1.7 million for her first startup, after years of building up other people's companies. Here's the one key strategy change she's making.
Source: BusinessInsider - 🏆 729. / 51 Read more »