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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