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When it comes to financial support , the fintech sector did n’t have a very good start to the year .
Fintech fundingslid by 16 % quartern - over - quarterduring the three - month full stop , grant to CB Insights ’ Q1 2024 State of Venture Report . But even more perturbing than the double - finger dip was the fact that the $ 7.3 billion raised globally by fintech startups in the three - month stop marked the low-down stratum the sector has seen since early 2017 , accord to the report .
Notably , CB insight weigh Flexport ’s $ 260 million convertible note as a fintech dealbecause the fellowship “ offers trade finance and cargo indemnity . ”Some might argue that Flexport is not a true fintech party because many company offer some variety of finance , payments or insurance as part of their offer . Removing that round from this numeration , financial support was just over $ 7 billion .
On the positive side , there was a 15 % uptick in equity flock make last quarter , which “ means investor continue to show sake in fintech solution — peculiarly defrayal tech , ” according to a CB Insights representative . However , average deal size of it was pocket-size . Unsurprisingly , large deals in the first quarter went to caller working on broad AI solutions .
During the three - month time period , 904 investments were made into fintech startups . Monzo’s$430 millionfinancing marked the declamatory raise of the quarter . AndBilt advantage $ 200 million Series Cranked third . company base in the United States were the biggest recipients of capital , collectively raising $ 3.3 billion across 393 deals in the quarter . Europe was not far behind , with inauguration there raising $ 2.2 billion across 203 deals for the same period . The drastically smaller number of deals in Europe point larger orotund sizes overall in that region , compare to the U.S.
By contrast , in the first quarter of 2023 , $ 16 billion of funding go bad into 1,271 fintech startups . So this class ’s funding total is down 54.3 % compare to the same period last yr . Even more markedly , $ 32.9 billion was poured into 2,026 fintech startups in the first quarter of 2022 . Dollars raised and softwood count is also down compared to the quaternary fourth part of 2023 , when 786 fintech startup raised $ 8.7 billion .
Just six new fintech unicorns were coin in the first three months of the year .
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Overall , venture funding climbed 11 % quarter - over - quarter to $ 58.4 billion while pile throw off for an eighth - straightaway quarter , down 7 % to 6,238 .
