State of Fintech 2024 Report

State ofFintech Global | 2024 recap Global data and analysis on dealmaking, funding,and exits by private market fintech companies Makesmartertech decisions. Our platform will help youdiscover, understand, andmanageyour response to emerging tech. Make confidenttech decisions that drive growth, improve operations, andbeat the competition with CB Insights. ▮▮▮▮IIIITry our platform–free!Sign up for a free trial “Steal” our data. Download the underlying data in this report. If you createany analysis or visualizations with this data, send it ourway and you could be featured in the CBI newsletter.@ us on social–LinkedIn X (Twitter)Instagram TL;DRYour rundown onfintechin 2024 $33.7B 33% 38%Of all 2024 bankingdeals are mid-orlate-stage. 24%Jump in fintechM&A exits inQ4’24. 5 Of the top 10 equitydeals in Q4’24 wentto payments firms. Annual fintechfunding in 2024,a 20% drop YoY. Increase in medianfintech deal size in2024. 5 of the top 10 equity dealsin Q4’24 went to companiesbuilding paymentssolutions, from mobilepayments apps to cross-border paymentsenablement tools toplatforms digitizing B2Bpayments. Fintech M&A exits jumped24%QoQto 189 in Q4’24,with Stripe’s $1.1B purchaseofstablecoinplatformBridge marking the quarter’slargest deal. The median fintech dealsize increased to $4M in2024—marking a 33% jumpYoY. Across fintech sectors,the biggest jump occurredin banking, where themedian deal size rose by70% YoY to reach $8.5M. Deals also declined, falling17% to 3,580. While mid-and late-stagedeal share rose by 4percentage points YoYacross fintech broadly, itjumped 17 percentagepoints in banking. However, there are signsthat the fintech market issteadying. The annualdecline in funding wasfintech’s smallest in 3 years. Overall, fintech saw a totalof 664 M&A exits in 2024(up 6% YoY) as financialservices companies soughtto diversify their capabilitiesand build full-serviceplatforms. Uncertainty about newbanking technology andregulatory volatility is likelydriving investors to moreproven solutions. Meanwhile, at the quarterlylevel, funding rebounded toclose the year strong,increasing 11%QoQtoreach $8.5B in Q4’24. While fintech saw fewerdeals overall in 2024, theincrease in deal sizessuggests that investors arewriting bigger checks forcompanies with compellinggrowth potential. This concentration of largedeals within payments techreflects the ongoing push todigitize commerce andbusiness exchanges. See the data→ See the data→ See the data→ See the data→ See the data→ TL;DRState ofFintech Disclosed global equity funding and deal count TL;DRState ofFintech Fintech deal sizes climb in 2024 Median fintech deal size by year TL;DRState ofFintech M&Aexits jump 24% QoQ in Q4'24 Quarterly fintech M&A exit count TL;DRState ofFintech Mid-and late-stage deal sharerises in 2024, particularly in bankingAnnual percent of deals by deal stage TL;DRState ofFintech Payments companiesraisehalfof the largest roundsin Q4’24Topfintechequity deals in Q4’24 ContentsState of Fintech Geographic Trends119 Global Trends US120Silicon Valley128New York132Boston136Asia140India148Singapore152Japan156Europe160United Kingdom168Germany172France176LatAm180Brazil188Africa192 Investment Trends12Unicorns36Exit Trends42Investors48 Collection Spotlights52 PaymentsBankingDigital LendingWealth TechInsurtechCapital Markets Tech Global Trends Investment Trends State of Fintech|Global Trends|Investment Trends Annual equity funding & deals State of Fintech|Global Trends|Investment Trends Quarterly equity funding & deals State of Fintech|Global Trends|Investment Trends Funding & deals by global region in Q4’24 State of Fintech|Global Trends|Investment Trends Percent of quarterly deals by global region State of Fintech|Global Trends|Investment Trends Percent of quarterly deals by investor group State of Fintech|Global Trends|Investment Trends Annual average & median deal size State of Fintech|Global Trends|Investment Trends Annual median deal size by global region State of Fintech|Global Trends|Investment Trends Annual median deal size by investor group State of Fintech|Global Trends|Investment Trends Annual mega-round funding & deals State of Fintech|Global Trends|Investment Trends Quarterly funding & deals from mega-rounds (deals worth $100m+) State of Fintech|Global Trends|Investment Trends State of Fintech|Global Trends|Investment Trends Quarterly mega-round deals by global region State of Fintech|Global Trends|Investment Trends Quarterly mega-rounds as percent of funding State of Fintech|Global Trends|Investment Trends Annual percent of deals by deal stage State of Fintech|Global Trends|Investment Trends Regional deal share by deal stage in Q4’24 State of Fintech|Global Trends|Investment Trends Annual median funding by deal stage Unicorns State of Fintech|Global Trends|Unicorns Quarterly new & total unicorns (private companies valued at $1b+) State of Fintech|Global Trends|Unicorns Sta