Exits MENA’s Post

FinTech funding trends in Q1/2024. The latest CB Insights Q1 2024 State of Venture Report reveals significant shifts in the FinTech sector's funding landscape. CB Insights utilises a combination of Machine Learning technology and expert analysts to systematically gather and analyse data from a wide range of public and proprietary sources. This dual method ensures comprehensive coverage of venture deals, funding amounts, and startup activity worldwide, providing a global reflection of industry trends that leaders in Financial Services can rely on for strategic planning. Key insights from the Q1/2024 report: 🔹 Global decline: FinTech funding decreased by 16% QoQ, totalling USD 7.3 bn, marking the lowest since early 2017. 🔹 Deal dynamics: There was a 15% increase in equity deal-making, indicating sustained investor interest in specific FinTech areas such as payments. 🔹 Deal size: Despite an increased number of deals, their average size diminished. 🔹 Volume of investments: There were 904 investments in FinTech startups during the period. 🔹 Sectoral focus: Companies developing broader AI solutions attracted larger funding rounds. 🔹 Top deals: Monzo led with a USD 430 mio financing, the largest of the quarter. 🔹 New unicorns: The sector saw the creation of 6 new unicorns. 🔹 Geographical activity: US startups raised USD 3.3 bn across 393 deals, while European startups raised USD 2.2 bn across 203 transactions. 🔹 YoY comparison: Funding has significantly dropped from USD 16 bn in Q1/2023 and USD 32.9 bn in Q1/2022. Strategic implications: These insights suggest a cautious but targeted investment climate in FinTech. The focus on smaller, numerous deals, particularly in innovative areas like AI and payments, highlights a strategic pivot towards technologies poised to redefine Financial Services in the longer run. The interest in AI solutions aligns with a broader digital transformation trend impacting multiple sectors at present. The trends from Q1/2024 indicate a reshaping of the financial landscape, with a move towards smaller and more strategic investments, particularly in areas underpinned by technological innovation with strong disruptive potential. This shift suggests a growing emphasis on quality over quantity in FinTech investments, showing that the sector is maturing with an increasing focus on value creation over hype. By aligning with these developments, financial and banking leaders can better position their organisations to capitalise on new collaborative opportunities and drive forward-thinking strategies in an increasingly competitive and tech-driven market. Sources: CB Insights Q1 2024 State of Venture Report and TechCrunch, April 2024. #FinTech #BankingIndustry #Funding #VentureCapital #Strategy #Innovation

FinTech funding trends in Q1/2024. The latest CB Insights Q1 2024 State of Venture Report reveals significant shifts in the FinTech sector's funding landscape. CB Insights utilises a combination of Machine Learning technology and expert analysts to systematically gather and analyse data from a wide range of public and proprietary sources. This dual method ensures comprehensive coverage of venture deals, funding amounts, and startup activity worldwide, providing a global reflection of industry trends that leaders in Financial Services can rely on for strategic planning. Key insights from the Q1/2024 report: 🔹 Global decline: FinTech funding decreased by 16% QoQ, totalling USD 7.3 bn, marking the lowest since early 2017. 🔹 Deal dynamics: There was a 15% increase in equity deal-making, indicating sustained investor interest in specific FinTech areas such as payments. 🔹 Deal size: Despite an increased number of deals, their average size diminished. 🔹 Volume of investments: There were 904 investments in FinTech startups during the period. 🔹 Sectoral focus: Companies developing broader AI solutions attracted larger funding rounds. 🔹 Top deals: Monzo led with a USD 430 mio financing, the largest of the quarter. 🔹 New unicorns: The sector saw the creation of 6 new unicorns. 🔹 Geographical activity: US startups raised USD 3.3 bn across 393 deals, while European startups raised USD 2.2 bn across 203 transactions. 🔹 YoY comparison: Funding has significantly dropped from USD 16 bn in Q1/2023 and USD 32.9 bn in Q1/2022. Strategic implications: These insights suggest a cautious but targeted investment climate in FinTech. The focus on smaller, numerous deals, particularly in innovative areas like AI and payments, highlights a strategic pivot towards technologies poised to redefine Financial Services in the longer run. The interest in AI solutions aligns with a broader digital transformation trend impacting multiple sectors at present. The trends from Q1/2024 indicate a reshaping of the financial landscape, with a move towards smaller and more strategic investments, particularly in areas underpinned by technological innovation with strong disruptive potential. This shift suggests a growing emphasis on quality over quantity in FinTech investments, showing that the sector is maturing with an increasing focus on value creation over hype. By aligning with these developments, financial and banking leaders can better position their organisations to capitalise on new collaborative opportunities and drive forward-thinking strategies in an increasingly competitive and tech-driven market. Sources: CB Insights Q1 2024 State of Venture Report and TechCrunch, April 2024. #FinTech #BankingIndustry #Funding #VentureCapital #Strategy #Innovation

💡🚀 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞 𝐅𝐢𝐧𝐭𝐞𝐜𝐡 𝐒𝐭𝐚𝐫𝐭𝐮𝐩 𝐒𝐞𝐜𝐮𝐫𝐞𝐬 $𝟒.𝟓 𝐌𝐢𝐥𝐥𝐢𝐨𝐧: 𝐖𝐡𝐚𝐭 𝐈𝐭 𝐌𝐞𝐚𝐧𝐬 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐚𝐧𝐝 𝐄𝐜𝐨𝐧𝐨𝐦𝐲 🚀💡 I recently came across this fascinating article, discussing the remarkable achievement of a local fintech startup that secured $4.5 million in its latest funding round. 𝙆𝙚𝙮 𝙃𝙞𝙜𝙝𝙡𝙞𝙜𝙝𝙩𝙨 𝙛𝙧𝙤𝙢 𝙩𝙝𝙚 𝘼𝙧𝙩𝙞𝙘𝙡𝙚: 1. Massive Funding Success: The fintech startup successfully raised $4.5 million, signifying strong investor confidence and market potential. 2. Product and Market Expansion: With the new capital, the company aims to further develop its products and expand its market presence, potentially setting new benchmarks in the fintech sector. 3. Investor Confidence: The funding round featured prominent investors, reflecting the startup’s innovative edge and the dynamic nature of Singapore's fintech ecosystem. 𝙒𝙝𝙮 𝙏𝙝𝙞𝙨 𝙏𝙧𝙚𝙣𝙙 𝙈𝙖𝙩𝙩𝙚𝙧𝙨: The infusion of substantial venture capital into fintech startups is a testament to the innovation and potential within this sector. Here’s why this trend is crucial: 1. Validation of Innovation: It validates the innovative solutions that fintech companies bring to the table, challenging traditional financial services and offering more efficient, customer-centric solutions. 2. Encouraging Entrepreneurial Spirit: Such success stories motivate other entrepreneurs, fostering a robust culture of innovation and risk-taking. 3. Global Positioning:  It strengthens Singapore's position as a leading fintech hub in Asia and on the global stage. 𝙄𝙢𝙥𝙖𝙘𝙩 𝙤𝙣 𝙎𝙞𝙣𝙜𝙖𝙥𝙤𝙧𝙚'𝙨 𝙀𝙘𝙤𝙣𝙤𝙢𝙮 𝙖𝙣𝙙 𝙀𝙣𝙩𝙧𝙚𝙥𝙧𝙚𝙣𝙚𝙪𝙧𝙞𝙖𝙡 𝙀𝙣𝙫𝙞𝙧𝙤𝙣𝙢𝙚𝙣𝙩: 1. Economic Growth: The influx of investment into fintech not only boosts the startups directly but also stimulates the broader economy through job creation, technological advancements, and increased competitive advantage in the global market. 2. Entrepreneurial Ecosystem: Success stories like these contribute to a thriving entrepreneurial ecosystem. They attract more talent, encourage risk-taking, and pave the way for more startups to emerge. 3. Regulatory Support: The Monetary Authority of Singapore (MAS) and other regulatory bodies are likely to continue their supportive stance, fostering innovation while ensuring financial stability. In conclusion, the $4.5 million funding milestone for this fintech startup is more than just a financial boost—it's a significant indicator of the strength and potential within Singapore’s fintech landscape. As an expert wealth strategist and experienced economist, I’m excited to see how these trends will continue to shape and elevate our economic framework. Let’s keep the conversation going! Share your thoughts on how fintech is transforming our economic landscape. #Fintech #Investment #SingaporeEconomy #Innovation #VentureCapital #WealthManagement #EconomicGrowth Eric Tan Wealth Strategist IBF Advanced (Level 3)

Exciting Times for FinTech Innovation at GIFT City! 🚀 I’m thrilled to share that GIFT City has launched two game-changing initiatives—the GIFT International Fintech Institute (GIFT IFI) and the GIFT International Fintech Innovation Hub (GIFT IFIH). These endeavours are set to transform India’s fintech ecosystem and position GIFT City as a global hub for talent and innovation. 🚀 GIFT IFIH: Together with Plug and Play APAC, the Innovation Hub is designed to fuel the growth of fintech startups by providing them with access to mentorship, funding, and a global network of industry leaders. As someone who has led incubation programs in the past, I know how critical it is for startups to have the right resources and guidance to scale effectively. This hub is about creating an environment where innovation can thrive. 📚 GIFT IFI: Partnering with institutions like Ahmedabad University, Indian Institute of Technology Gandhinagar and UC San Diego, we’ll offer cutting-edge programs to prepare fintech professionals for global opportunities. Having navigated both the corporate and academic worlds for over 15 years, I firmly believe that bridging this gap is key to building a workforce that’s future ready. Looking forward to the road ahead and the impact these initiatives will have on the fintech landscape, both in India and globally. Here’s to the future of fintech! 🌍💡 #FinTech #Innovation #GIFTCity #FutureOfFinance #WomenInTech #Startups #GlobalCollaboration #TechTalent #FinTechRevolution #ScalingInnovation

Pathao says the round comes as its strategic shift towards fintech gathers pace. Pathao claims that it has built a profitable and financially robust business over the past two years. It now plans to use that strength and the newly raised capital to “holistically serve its customers with fintech offerings”. Pathao’s fintech ambition is not a new thing. The company launched its first version of Pathao Pay in 2018. That timing was perfect for the company. It had launched a series of successful products. The ride-hailing business was doing exceedingly well. It received backing from some of the prominent global investors. There was a growing interest in the company locally and globally. In April 2018, it utilized optimism and timing to launch a closed-loop version of its payment solution to serve its users to interact within its ecosystem of products. However, Bangladesh Bank denied Pathao permission to add payment service at that time, a decision that was highly consequential for the company. That, however, didn't stop Pathao from pursuing fintech ambition. Between 2018 and 2023, Pathao continued to experiment with several financial services including Pathao Pay—a digital wallet, and Pay Later, Bangladesh’s first buy now pay later solution. These initiatives have largely targeted its own user base across its logistics, ride-sharing, and food delivery businesses. Meanwhile, Pathao continued to pursue the fintech license and was finally given a payment service provider (PSP) license in 2023, paving the way for the company to launch a fintech product. The strategic reasoning to launch a full-fledged fintech product does make sense for Pathao. The primary thesis is clear: Pathao already has a sizable user base across its various verticals who regularly need fintech solutions to use Pathao products and services. If Patho has its own fintech solution, these users can use the Pathao solution when interacting with Pathao services as well as outside of the Pathao ecosystem if they get used to it. It can improve retention, strengthen strategic moat, and amplify aggregation power for Pathao. Eventually, the company can take the service to users outside the Pathao ecosystem.

After climate tech attracted the most investment in 2023, fintech is once again the most well-funded startup industry in the UK. Based on information from Dealroom.co and HSBC Innovation Banking, UK fintech startups raised $1.4 billion in 73 rounds in the first quarter of 2024. Energy temporarily overtook fintech in 2023, but because to significant late-stage investments in firms like Monzo Bank, Flagstone, and PPRO, fintech has reclaimed the upper hand. The UK continues to be the top location in Europe for startup investment and innovation worldwide. UK startups raised $2.3 billion and $1.7 billion, respectively, in Q1 2024 - nearly twice as much as their combined German and French counterparts. In the world rankings, the UK is still third, ahead of India and only behind the US and China. The fact that foreign investors account for more than half of UK venture capital indicates that the country is still a top choice for tech investment. 

📱SoBanHang (Finan Pte Ltd)- Building smart app to optimize cash flow for businesses "🤯 You’re struggling with various Excel files and messy manual recordings for your business’s cash flow. It urges you to find an effective alternative for smoother financial management. Regardless of your company size (a grocery store, a coffee shop, a small business, a medium one, etc.), let Finan help you manage your cash flow efficiently & simply with just a mobile app 🤝. How? Discover below 😉" 🇻🇳 Finan is a pioneering Vietnam-based fintech startup that helps businesses manage cash flow smartly. 🤵The startup was established in 2021 by two high-profile founders with many years of working experience at large tech corporations, Mr. Hai Nam Bui (CEO) and Mr. Long Bui Hai (CPO). 💰The startup successfully raised $4M capital from FEBE Ventures, Class 5 Global, AlleyCorp, Trihill Capital, Antler. 🏆 Finan has received a series of impressive awards: TECHFEST Vietnam Champion 2022, Top 3 Startup Wheel 2023, Top 4 SK Startup Fellowship 2022, Third Prize at ASEAN-Korea Startup Innovation Week 2024... 📗Finan is widely known for Sobanhang - a modern sales management app for small and micro sellers. 🚀To date, Sobanhang has supported more than 600,000 small business owners to manage all sales activities on just one phone with simple and convenient operations. 🌟Sobanhang app receives 4.8/5 rating stars on AppStore. 📲Another outstanding product of Finan is FinanBook. FinanBook uses advanced AI technology, providing more than 30 professional cash flow management features: 📊Providing accurate financial reports, while optimizing the revenue and expenditure process. 📈Integrating smart forecasting technology, allowing business owners to plan the use and investment of cash flow appropriately, optimizing the use of idle cash. ⚙️Synchronizing and updating real-time cash flow information, allowing business owners to monitor and manage cash flow anytime, anywhere. 🛡️Equipped with advanced security features, encryption of business financial data is always protected most safely. 🎯Helping shorten debt collection time by up to 3 times, reducing manual tasks in the financial process by 80%, and saving operating costs by up to 6 times. ✊ Finan's mission: supporting businesses to upgrade technology, making breakthroughs in business management and finance, and accompanying SMEs on the path to digital transformation. Read more about Finan: 👉 English ver: https://lnkd.in/gSg3ayuG 👉 Vietnamese ver: https://lnkd.in/gn2P_qU6 Want to keep up with the top startup news in Vietnam & around the world? Subscribe for free at Leannew.com #startup #fintech #finan #sobanhang #finanbook #business #SMEs #media #startupnews #techfest

💡 Do most corporations want to Innovate? Yes! Do most succeed? Unfortunately, no. I have been in the tech business for 20 years and have invested in startups for the past decade. In that time, I have seen billion-dollar companies like Kodak and Blockbuster crumble due to a lack of innovation. On the other hand, tech giants like Google, Microsoft, and Facebook are thriving from recent collaborations with innovative startups. Both of these extreme trends indicate one thing — Innovation is necessary for the growth and success of tech companies. In today’s era of rapid digitalization, I observe three key reasons why innovation remains so challenging: Corporate culture, lack of IT talent, and a 70-90% chance of failure. Involving startups in your digital transformation efforts can give your larger company a higher success rate. In my recent article for Forbes, I shared practical use cases of how corporations can leverage collaborations with startups for Innovation and the benefits of doing so. Give it a read and share your thoughts in the comments: https://lnkd.in/eFrpJW_W #DigitalTransformation #TechStartup #TechInvestment #AngelInvestor #BusinessAdvice

Pathao says the round comes as its strategic shift towards fintech gathers pace. Pathao claims that it has built a profitable and financially robust business over the past two years. It now plans to use that strength and the newly raised capital to “holistically serve its customers with fintech offerings”. Pathao’s fintech ambition is not a new thing. The company launched its first version of Pathao Pay in 2018. That timing was perfect for the company. It had launched a series of successful products. The ride-hailing business was doing exceedingly well. It received backing from some of the prominent global investors. There was a growing interest in the company locally and globally. In April 2018, it utilized optimism and timing to launch a closed-loop version of its payment solution to serve its users to interact within its ecosystem of products. However, Bangladesh Bank denied Pathao permission to add payment service at that time, a decision that was highly consequential for the company. That, however, didn't stop Pathao from pursuing fintech ambition. Between 2018 and 2023, Pathao continued to experiment with several financial services including Pathao Pay—a digital wallet, and Pay Later, Bangladesh’s first buy now pay later solution. These initiatives have largely targeted its own user base across its logistics, ride-sharing, and food delivery businesses. Meanwhile, Pathao continued to pursue the fintech license and was finally given a payment service provider (PSP) license in 2023, paving the way for the company to launch a fintech product. The strategic reasoning to launch a full-fledged fintech product does make sense for Pathao. The primary thesis is clear: Pathao already has a sizable user base across its various verticals who regularly need fintech solutions to use Pathao products and services. If Patho has its own fintech solution, these users can use the Pathao solution when interacting with Pathao services as well as outside of the Pathao ecosystem if they get used to it. It can improve retention, strengthen strategic moat, and amplify aggregation power for Pathao. Eventually, the company can take the service to users outside the Pathao ecosystem.