Global fintech investment plummeted 48% in 2023, according to new data by Innovate Finance

Global Fintech Funding (2023):
- Total global investment in fintech reached $51.2 billion in 2023, marking a 48% decline from the previous year’s figure of $99 billion.
- The number of funding deals also decreased significantly, totaling 3,973 deals compared to 6,397 deals in 2022.
- The United States led in fintech funding, attracting $24 billion across 1,530 deals.
- The United Kingdom secured the second position with $5.1 billion in funding, spread across 409 deals, reflecting a 65% drop from 2022.
- India ranked third with $2.5 billion in fintech funding.
- Female-led fintech companies in the UK attracted $536 million in 2023, representing 10.5% of the country’s total funding.
- Despite economic challenges, the UK maintained its position as a global hub for fintech investment, surpassing other European countries combined.
- The data indicates an opportunity for UK fintechs to strengthen their presence in Asian markets, which received more combined investment than their European counterparts.
- Innovate Finance compiled the report using data from PitchBook as of December 31, 2023.