In April 2018, FinTech startups across the globe raised $2.18 billion worth of VC investments across 107 deals. In terms of MoM growth, in April 2018, global FinTech funding witnessed a significant decline of 37.5% from the $3.49 billion raised in March 2018. The US continued to dominate the funding charts with $883.5 million, which was 41% of the global FinTech funding (by value) in April. Hong Kong comes second with a 29% ($625 million) contribution, with UK, India, and China contributing 14.4% ($300 million), 4% ($96.8 million), and 3.6% ($79 million) respectively.
AI/ML segment led the funding race in March 2018 with $613 million in funding across only two deals. There was a staggering 181% MoM growth in the funding in this space from March 2018. As expected, China topped AI funding with Alibaba’s $600M investment in Chinese AI-based facial recognition provider SenseTime, making it the highest-funded FinTech startup in April 2018 globally.
The segment that held the second place in the funding race was Remittance with $250 million raised by UK-based Revolut in a lone funding deal. With this funding round, Revolut became the latest FinTech unicorn with a valuation of $1.7 billion.
Lending continued being in the top three funded segments as it raised $221 million across 22 deals to be placed third in the funding race in April 2018. The US-based Wunder ($112 million), PeerStreet ($29.5 million), the Singapore-based Funding Societies ($25 million), and India’s Capital Float ($22 million) were some lending startups who raised a good amount of funding.
InsurTech ($213.2 million) and RegTech ($116.9 million) were the other two segments which raised a over $100M of funding in April. While InsurTech has been among the top-funded segments in