As venture capital grew all over the world, following the fintech market was a great way to understand the overall health of the VC world; as the company grew, so did fintech fundraising.
Worth about a fifth of all venture dollars invested last year, fintech startups raised almost unfathomable sums of capital, but for good reason. While companies around the world turned to software during the pandemic to ensure they could keep working, accelerating digital transformation, analog work is underway in the consumer world.
Simply put, financial technology has been busily digitizing consumer lives in recent years, just as business software helped companies ditch pencils, paper, and generic spreadsheets. So it’s no big surprise that fintech has played a big part in the business boom that’s now behind us. Nor that when the boom faded, so did fintech.
New Q2 2022 data from CB Insights and PitchBook exposes fintech’s retreat.
Let’s talk about the fintech market from a global perspective and a US-oriented point of view. What’s really going on out there?