FinTech Funding Accelerated in 2021
What a start to the year it has been for fintech firms. Investors have kicked off 2021 at some pace with digital payments taking a lot of the attention. According to PitchBook data, 10 deals worth more than $100m have already been completed this year. This is a large increase from the 3 completed at the same time in 2020.
More positive news was the announcement of $1.7b funding for fintech start-ups. With the spike in ecommerce due to the pandemic, consumer finance companies have been forced to adopt digital payments. To back this up, $300m was raised by global payments operator Rapyd this week. Avid Ventures helped with this latest round of fundraising.
The headline story from last week must be the tripling in valuation of Checkout.com to $15bn. It has quickly become the most valuable VC backed start up, landing $450m in investment.
The FinTech industry performed well throughout 2020 despite the pandemic. This has led to increased optimism and excitement as to what can be achieved in 2021. Bring on the positive vibes.