In October 2018, FinTech startups across the globe raised $2.71 billion worth of VC/PE investments across 134 deals. In terms of MoM trends, there was a large decline of 40% from the $4.49 billion raised by FinTechs in terms of VC funding in September 2018. In terms of the number of deals, there was a significant decline of 8.2% MoM compared to 146 deals in September.
In region-specific terms, the Americas dominated global FinTech VC funding in October with 48.9% in contributions in terms of funding value ($1.33 billion) and 41.8% in terms of the number of deals (56). Asia placed second with 36.3% in contributions to global FinTech VC funding in October by value ($989.2 million) and 27.6% in terms of the number of deals (37). In terms of countries, the US led the charge in October with 47.1% in contributions in terms of funding value ($1.27 billion) across 52 funding deals. China came a distant second with 15% in contributions to global FinTech VC funding by value ($406 million). In terms of the number of deals, China contributed 6.7% in terms of global FinTech VC funding in October. The Philippines ($323 million), the UK ($222 million), and India ($136 million) were the other three of the top five countries in terms of VC/PE FinTech investments in October.
Among the segments, Lending led the VC funding race in October 2018 with $584 million in funding across 26 deals. Some of the top fundraises from this segment in October were – the China-based Linklogis’ series C funding of $220 million, the US-based Brex’s series C funding of $125 million, and the Philippines-based Akulaku’s series C funding of $70 million.
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