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Massive Venture Rounds Fuel Fintech’s Record Year

Fintech's-record-year Blockchain News
  • Fintech is the best investment area this year.
  • Tech-driven firms are now attracting hefty dollars.
  • The number of firms from digital banks to crypto exchanges rose this year.

Fintech leads as the best investment area right now and it is expected to increase even more. This is as a result of the growing number of fintech hubs bringing investments. As well as the growing deal sizes and valuation.

Additionally, 2021 has been a record year for Fintech funding globally. Thus, pushing up the total dollars invested. Moreover, in just the first three quarters of 2021, it nearly doubled the amount in all of 2020.

Likewise, fintech startups’ growth expects an increasing number of firms to raise large later-stage funding rounds as investors look to lock in their bets.

Meanwhile, the number of firms from digital banks to cryptocurrency exchanges raised mega-rounds this year.

Notably, in the first quarter, the digital payments giant Stripe raised $600 million in new funding at $95 billion in March. Meanwhile, in July, the Hong Kong-based crypto exchange FTX raised $900 million in new funding of $18 billion. Then, in August, Chime hit a $25 billion valuation as part of a new funding round that brought in $750 million.

Furthermore, tech-driven firms are now attracting hefty dollars, catching incumbents’ attention as potential acquisition targets. Also, they are building viable alternatives to traditional ones and getting scrutinized by regulators.

Hence, the total dollars invested in the first three quarters in 2021 is $39.2 billion, exceeding $20.4 billion in 2020.

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A Computer Engineering graduate who writes news focuses on cryptocurrency-related and blockchain technology. He is enjoying using his skills to contribute to informing people of the exciting technological advances that happen every day.