Global Fintech Funding Falls to US$7.4 Billion in Q3 2023

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Cindy Mutia Annur 10/11/2023 20:05 WIB

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A recent CB Insights report shows that global fintech funding in Q3 2023 reached US$7.4 billion, a 3% quarterly decrease.

Global Fintech Funding by Sector (Q1 2019 - Q3 2023)

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Global Fintech Funding by Sector (Q1 2019 - Q3 2023)

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The latest CB Insights report shows that global fintech startup funding in Q3 2023 reached US$7.4 billion, equivalent to Rp116.14 trillion (assuming an exchange rate of Rp15,695/US$).

"Global fintech funding fell 3% quarter-on-quarter (qoq)," CB Insights stated in its report titled "State of Fintech Global Q3 2023."

In fact, global fintech startup funding plummeted 46% compared to Q3 2022, which reached US$13.8 billion.

The trend shows that global fintech startup funding in Q3 2023 was the lowest since 2019. The highest funding value was recorded in Q4 2021, reaching US$38.7 billion.

According to CB Insights, global fintech funding in the last quarter remained relatively flat after a sharp decline in most quarters since the end of 2021. This is evident in the graph above.

Similarly, the number of global fintech funding deals also decreased.

The number of global fintech funding deals in Q3 2023 fell 18% quarter-on-quarter (qoq) to 754 deals. This is also the lowest number in the last four years, while the highest was in Q1 2022 with 1,902 deals.

CB Insights also reported that Amartha was included in the list of nine fintech startups with the largest global funding last quarter. This Indonesian online lending (pinjol) fintech startup ranked fourth globally with funding of US$206 million, reaching 2.8% of the total global fintech startup funding in Q3 2023.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."