Chart of the Day: Fintech’s funding fizzle

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Fintech funding feels impact of economic uncertainty

Fintech companies worldwide garnered?$50.7 billion?in funding during H1 2022, down nearly?23%?year over year. Still, this sum is already higher than 2020’s total of?$49.5 billion, indicating a greater trend of increased funding.

Beyond the chart:?Like many other sectors, fintech is seeing funding activity cool off as caution grows among investors. Public companies like?Affirm?and?Coinbase?have also taken a tumble, losing tens of billions of dollars from their market cap so far this year.

There’s still money out there for fintechs, but with most neobanks still unable to turn a profit, regulations coming for buy now, pay later services, and a chill falling over the cryptocurrency world, firms must stand out to attract investors.

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