The financial technology industry witnessed an increase in funding in Q1 2023, according to CB Insights.
In that quarter, global fintech funding reached $15 billion, a 55% increase from Q4 2022. However, the number of deals, 983, declined by 2%.
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According to PitchBook, financial technology can be broken into two segments: retail and enterprise. Retail fintech deals with customers directly, while enterprise focuses on businesses and financial institutions.
Retail fintech venture capital funding (PDF) in the first quarter of 2023 totaled $3 billion in deal value across 167 deals, compared to $23 billion and 1,039 deals for all of 2022.
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Per PitchBook (PDF), enterprise fintech VC funding stood at $11.8 billion in Q1 2023 for 336 deals versus $38 billion and 1,858 deals for the entire 2022.
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According to data by Dealroom, a Netherlands-based database management company, the “Payments” fintech sector has received the most global funding in 2023.
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In 2022, fintech funding fell across regions, per the S&P Global Fintech Funding Trends report.
