State of Fintech Q2’24 Report

State ofFintech Global | Q2 2024 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 TLDRState of Fintech Your rundown onfintechin Q2’24 $12.8M 20% 30%Of top early-stagedeals go to digitalasset companies. 19% 45% Average deal size in2024 so far, down4% from 2023. Growth in fundingin the US, to $4.8B. Mid-and late-stagedeal share YTD, upfrom 18% in 2023. Increase in funding,buoyed by twoblockbuster deals. In addition to the quarterlyfunding increase, the USled the world across a fewmetrics in Q2’24, includingshare of equity deals (40%)and exits (36%). Mega-rounds led the way: 9 ofthe 10 biggest deals in theUS were worth $100M+,the most since Q2’22. The slight decline inaverage deal size YTDhighlights broadstagnation in fintech dealsizes. Fintechsfocused oncryptocurrency andblockchain are receivingrenewed focus, as thecrypto winter thaws.Across the top seed/angeland Series A deals inQ2’24, nearly one-thirdwent to digital assetcompanies. In a more favorableoperating environment,investors are showinggreater confidence in later-stage companies thanthey did in the last 2 years. Global fintech fundingrosein Q2’24 to $8.9B, up 19%quarter-over-quarter (QoQ). Yet, absent 2 late-stagedeals for Stripe ($694M)andAlphaSense($650M),funding would haveremained flat. However, a29% increase inthe median deal size thisyear, to $4M, could signalstrength in the long tail ofsmaller fintech deals. This isespecially true inareas like payments andlending, where mid-andlate-stage rounds make up27% and 35%, respectively,of deals YTD. A 16% decline in dealvolume also indicatesfintech investors remaincautious. LatAmwas the only othermajor global region with afunding increase, up by22% QoQ to $442M. The largest of these wereforTradeDogand Biton,both digital assetinfrastructure platforms. See the data→ See the data→ See the data→ See the data→ See the data→ ContentsState of Fintech Global Trends Geographic Trends100 US101Silicon Valley107New York111Canada115Asia121India127Singapore131Japan135Europe139United Kingdom145Germany149France153LatAm157Africa163 Investment Trends7Unicorns30Exit Trends36Investors41 Collection Spotlights45 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 Q2’24 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 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 Q2’24 State of Fintech|Global Trends|Investment Trends Annual median funding by deal stage State of Fintech|Global Trends|Investment Trends Global: Top seed/angel deals in Q2’24 Global: Top Series B deals in Q2’24 Global: Top Series C deals in Q2’24 Unicorns State of Fintech|Global Trends|Unicorns Quarterly new & total unicorns (private companies valued at $1b+) State of Fintech|Global Trends|Unicorns State of Fintech|Global Trends|Unicorns Quarterly new unicorns by global region State of Fintech|Global Trends|Unicorns Global: Top unicorn births in Q2’24 State of Fintech|Global Trends|Unicorns Global: Top unicorns by valuation in Q2’24 Exit Trends Quarterly exits State of Fintech|Global Trends|Exit Trends Percent of quarterly exits by global region Global: Top M&A exits in Q2’24 State of Fintech|Global Trends|Exit Trends Global: Top IPOs in Q2’24 Investors State of Fintech|Glo