The Currency Scene:
News, Events, and Stories about currency from around the world.

In March 2018, FinTech startups around the world raised $3.49 billion worth of VC investments across 137 deals. This was a whopping 75.6% YoY growth in the total funding raised compared to March 2017. In terms of MoM growth, in March 2018, the global FinTech funding value grew by a staggering 150% from the $1.4 billion raised in February 2018[1].

The US continued to dominate the funding charts with $2.01 billion, which was 57.5% of the global FinTech funding in March. The UK was a distant second with a 11.6% ($405.2 million) contribution, with Germany, China, and India contributing 7.2% ($252.7 million), 5.3% ($184.2 million) and 3.6% ($125.1 million) respectively.

Lending startups led the funding race in March 2018 with $806.2 million in funding across 18 deals, with key startups such as Credit Karma (Credit scoring, $500M), Mighty[2] ($105M), and Oodle Car Finance[3] ($100M) raising big funds. There was a staggering 202% MoM growth in the funding in this space from February 2018. US-based lending startups raised 97% of the global funding.

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The most interesting development in the previous month was the emergence of neo-banks in the funding race. Ranked second in terms of FinTech segments with the highest funding in March, startups in the neo-banking space raised $586.7M across five high-value deals across the globe, with the leading players such as N26 ($160M) and Atom Bank ($207M) wooing the investors and raising some large deals. What was the most interesting is the fact that $586.7 million was raised across just four large deals, with Solaris Bank ($69.7 million) and Brazil’s NuBank ($150 million) being the other two players who raised funding.

Investment Platforms ($549.5M)

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currensceneFLOGO WHTsquareThough not the oldest form of currency, some form of shell money appears to have been found on almost every continent. The shell most widely used worldwide as currency was the shell of Cypraea moneta, the money cowry.

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