Global Fintech companies raised roughly $1.72 billion in February 2024

Global Fintech Funding Sees Uptick in February

Fintech companies around the world raised more money in February 2024 than in January. According to data from 1Lattice, the top 20 fintech companies globally raised about $1.05 billion in February, compared to $0.87 billion in January.

However, despite the February increase, funding for fintech companies has been on a downward trend overall. In December 2023, global fintech companies raised $1.71 billion. This number was even higher in November 2023 at $2.5 billion and October 2023 at $2 billion.

Baubap Leads Global Funding

The leading fintech company in terms of funding in February was Baubap, which raised a significant $120 million from SixPoint Capital Management. Watershed came in second with a $100 million raise from Greenoaks, Sequoia Capital, Kleiner Perkins, and Galvanize Climate Solutions. DataSnipper and EigenLayer also each raised $100 million from Index Ventures and Andreessen Horowitz, respectively.

India’s Fintech Funding

In India, Credit Saison India was the top fundraiser in February, bringing in about $145 million. Dvara KGFS followed with $27 million from FMO and Enabling Qapital. Mswipe, Vidyut, and Moove were the next highest Indian fundraisers, each bringing in $20 million and $10 million, respectively.

India’s overall fintech funding has also been decreasing. The sector raised $7.475 billion in 2021 and $4.041 billion in 2022. So far in 2023, Indian fintech companies have raised only $2.992 billion.

Despite the funding slowdown, a recent report by Tracxn found that India ranked third globally in 2023 for fintech startup funding, solidifying its position as a major player in the global fintech market.

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