Due to surging interest rates, it is no surprise that fintech took a hit.
In fact, while fintech funding reached highs of $75.2 billion last year…
It only amounts to 46% of the funding reached in 2021. ❌
Several vital highlights from 2022 include:
✅ Unicorn startup births are reaching an all-time low, with only 5 popping up in 2022 Q4.
✅ Global fintech deals fall by 8% year-on-year.
✅ Hong Kong is the latest entry in top-tier ecosystems thanks to scoring high in focus and funding.
✅ New York is the capital for crypto startups, amounting to 46% of all VC funding for crypto in the US.
✅ Fintech funding in South America is centralized in São Paulo, Brazil.
✅ Africa-based fintech funding is rising, reaching a peak of 25% YoY.
All in all, while there’s some bleakness in the state of fintech, there are still bright spots.
With new territories becoming hotbeds for funding, more startups have opportunities to grow.
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