Despite the pandemic global fintech financing runs high

By Daniel Lanyon on Thursday 29 October 2020

Alternative LendingDigital BankingSavings and Investment

FT Partners latest number-crunching shows COVID-19 hasn’t derailed venture capital’s interest in the fintech industry.

Despite the pandemic global fintech financing runs high
Image source: Photo by cottonbro from Pexels

Total global fintech financing hit $12bn of capital raised in the third quarter of 2020, according to research by FT Partners. 

While many predicted the COVID-19 pandemic would hit the fintech industry hard, the three months from 1 July to 31 September was the third-highest on record for global fintech fundraising. 

Only in the same period in 2019 ($12.9bn) and the second quarter of 2018 ($24.4bn) were higher. The former was heavily skewed, however, by the $12bn round from Ant Financial. 

Analysts at FT Partners say that 2020 is heading for another similar year to 2019 in terms of total funding, where $45.4bn was raised globally for fintechs.  

UK and European names were among the largest fundraises with Klarna’s $650m only just behind US share trading platform Robinhood’s $660m raise. 

UK names in on the list include insurtech KI ($500)m, Transferwise ($319m), Quantexa ($65m), Scalable Capital ($57m), ComplyAdvantage ($50m), Habito ($46m) and Moneybox ($38m). 

 

 

 

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