Finance Breaking news 2020 Fintech funding down on 2019 but on the way back up last financial news

Breaking-Finance.Com - Global investment in fintech fell significantly in 2020 as the Covid-19 pandemic hit but picked up significantly in the second half of the year, according to KPMG, which expects a strong 2021 for the sector.

Finance Breaking news 2020 Fintech funding down on 2019 but on the way back up last financial news

Breaking-Finance.Com - Global investment in fintech fell significantly in 2020 as the Covid-19 pandemic hit but picked up significantly in the second half of the year, according to KPMG, which expects a strong 2021 for the sector.

Finance Breaking news 2020 Fintech funding down on 2019 but on the way back up last financial news
26 February 2021 - 00:45

Breaking-Finance.Com - Global investment in fintech fell significantly in 2020 as the Covid-19 pandemic hit but picked up significantly in the second half of the year, according to KPMG, which expects a strong 2021 for the sector. In its latest Pulse of Fintech report, KPMG says global investment across M&A, PE and VC was $105 billion across 2861 deals in 2020, down on the $165 billion recorded in 2019.With the exception of M&A - which saw deal value drop over 50% - the overall fintech market proved resilient despite uncertainties such as the Covid-19 pandemic and the US presidential election. There was a coronavirus-driven drop off in the first half of the year but fintech investment bounced back in the second half - more than doubling from $33.4 billion to $71.9 billion. Both the Americas ($23 billion) and Emea ($9.2 billion) regions saw record highs of annual fintech-focused VC investment. US-based wealthtech Robinhood raised the most VC funding in H2 - $1.

. Several digital banks also had big rounds - Klarna ($650 million), Revolut ($580 million), and Chime ($533 million).The US accounted for over 70% of global fintech funding, with $76 billion in investment. In contrast, Asia-Pacific dropped from $16.8 billion in 2019 to $11.6 billion in 2020 - a six-year low.As for the future, KPMG says that the increase in demand for digital payments, contactless payments and e-commerce platforms means that fintech investment is expected to remain robust well into 2021.Anton Ruddenklau, global fintech co-leader, KPMG, says: "Covid-19 has been a catalyst for many fintech business models - a real proving ground given the accelerated demand for digital offerings coming from consumers and businesses alike. "Payments and e-commerce platforms were particularly hot areas of investment, in addition to cybersecurity, given the increasing use of digital platforms."

Source = Breaking-Finance.Com

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Finance Breaking news 2020 Fintech funding down on 2019 but on the way back up last financial news


Finance Breaking news 2020 Fintech funding down on 2019 but on the way back up last financial news


Finance Breaking news 2020 Fintech funding down on 2019 but on the way back up last financial news


Finance Breaking news 2020 Fintech funding down on 2019 but on the way back up last financial news

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