visimoney
TLDR:
– Fintech companies DailyPay and Digital Onboarding have both raised significant funding amounts in recent investment rounds.
– The surge in funding for these companies, along with several other investment deals in the fintech space, indicates a return to fintech investment for venture capitalists in 2024.
Fintech company DailyPay has raised $175 million in new investment, with $100 million of secured credit facility capacity provided by Citi Group and over $75 million in new equity financing led by Carrick Capital Partners. The funds will be used to accelerate product innovation and expand into new markets.
Digital engagement platform Digital Onboarding has closed a $58 million investment round led by growth equity firm Volition Capital. The company aims to solidify its position as a leading enabler of mid-funnel customer relationships for financial institutions.
The increase in funding for these two fintech companies, along with additional investment deals in the fintech space this week, suggests a return to investment for venture capitalists in 2024. After a dip in fintech funding in 2023, experts predict a more stable investment landscape this year due to decreasing interest rates and a more certain political environment. Nigel Morris, Managing Director at QED Investors, believes that 2024 will resemble a pre-pandemic year in terms of fintech investment.
