Fintech funding hits $127bn

More than $127bn has been invested in fintech companies globally since 2014, with funding topping $40bn last year, according to data gathered by Fintech Global.

The research firm found that investment in disruptive financial start-ups doubled between 2014 and 2017, with the number of deals breaking the 2,000-mark in 2015 and 2016.

Last year this number declined to just over 1800 but with an increased in the average deal size to $22.4m in 2017.

In the first three months of the year, companies raised $10bn globally suggesting 2018 could be another strong and perhaps record-breaking year for fintech fundraising.

In 2018 so far some of the largest deals include N26, a German-based challenger bank, raised $160m in series C funding from Tencent Holdings and Allianz X as well as UK-based Revolut which has just closed a mega $250m round led by DST Global, a global investment group founded in 2009 by Yuri Milner.

Both are some of the largest European deals of the quarter. Both firms are planning global domination with N26 planning to use its funding to consolidate its presence in Europe and expand operations to the United States while Revolut is looking to Japan and the US as well as the Asia-Pacific region  and next year further afield to Africa and South America.