visimoney
TLDR:
- This week, FinTech funding failed to surpass $500m with only 16 deals completed.
- Nozomi Networks secured the largest round with $100m in their Series E.
The total raised from FinTech funding rounds this week failed to surpass $500m on a down week for the sector. Overall, there were 16 deals this week, less than half of that from the seven days prior (34). Similarly, investment blew past $1.3bn a week ago, which is almost triple the amount raised this time around. A respectable, yet comparatively paltry sum of $441.24m was raised this week, as the sector took a step back. Despite the negatives, there were positives across the space. Nozomi Networks, a front-runner in operational technology and IoT security, bagged $100m in their Series E round. The tranche, which was contributed to by Mitsubishi Electric and Schneider Electric alongside other OT original equipment manufacturers (OEMs), was the largest round of the last week – and a major achievement.
Other big deals were secured by PPRO ($85m) and Perfios ($80m), meaning that the USA failed to have a deal in the top three largest. Despite this, the global FinTech hub still managed to secure the most deals this week, bagging six. Lagging behind them, the UK impressed with four deals. No other nation managed to land more than a solitary deal, however tranche’s were secured all across the globe with El Salvador, The Netherlands, Brazil, Estonia, Indonesia, and India all having a company which completing a funding raise
On the sector front, PayTech led the week with five deals, as investors showed faith in the space. Behind them, RegTech (4) and FinTech (3) completed the top three most active sectors. However, it was a positive week across the entire realm, as deals were secured across the InsurTech (2), CyberTech (1), and WealthTech (1) space’s respectively.
