Monday, September 1, 2025
spot_img

India ranks 3rd in fintech funding globally in Jan-June period

Date:

Share post:

spot_imgspot_img

Shillong, July 5: India’s fintech ecosystem achieved a significant milestone in the first half of this year by ranking among the top three funded globally, alongside the US and the UK, a report showed on Friday.

 

The domestic fintech sector received funding of $795 million in the first half (H1) of 2024, a decline of 11 per cent from H2 2023, according to the report by Tracxn, a leading market intelligence platform.

 

Perfios was the only unicorn created in 2024, while the fintech sector saw six acquisitions and five IPOs in the January-June period.

 

Bengaluru emerged as the leader in total fintech funding raised in 2024, followed by Mumbai and Pune, further solidifying the emergence of multiple fintech hubs across the country’s diverse startup ecosystem.

 

“Despite the global funding slowdown, India’s FinTech ecosystem shows agility and adaptability, supported by robust economic fundamentals,” said Neha Singh, Co-Founder at Tracxn.

 

The fintech sector remains dynamic, and “we are optimistic that a supportive policy environment and technological advancements will create new opportunities for growth and innovation in the near future,” she added.

 

Late-stage funding in H1 2024 stood at $551 million, a 26 per cent increase from $436 million in H2 2023.

 

Seed-stage funding amounted to $65 million, a 7.4 per cent rise from $60.5 million in H2 2023, said the report.

 

Peak XV Partners, Y Combinator, and LetsVenture emerged as the leading investors in the sector. (IANS)

spot_imgspot_img

Related articles

USTM remembers PA Sangma on his 78th birth anniversary

Guwahati, Sept. 1: The University of Science and Technology Meghalaya (USTM) on Monday remembered former Lok Sabha Speaker...

Experts praise PM Modi’s message against cross-border terrorism, hail SCO stand on Pahalgam

New Delhi, Sep 1: Foreign and defence experts on Monday welcomed the joint statement of the Shanghai Cooperation...

As PM Modi wraps up China visit, Rubio calls US-India partnership ‘defining relationship of 21st century’

New Delhi/Washington, Sep 1: Shortly after videos and images of Prime Minister Narendra Modi going into a huddle...

IIT Guwahati’s new nanosensor can instantly detect cancer-causing pollutants in water

New Delhi, Sep 1: Researchers at the Indian Institute of Technology Guwahati have developed a novel sensor from...