Fintechs received almost half of $1 billion in startup funding from last quarter

Fintechs received almost half of $1 billion in startup funding from last quarter

The quarter ending December 2018 saw Australian fintechs receive $508 million in funding.

A new report of funding for Australia’s startups and young tech companies by Techboard has found that these companies received an impressive $1.066 billion in funding in the quarter ending December 2018. While this was a small reduction from the $1.085 billion in funding received during the September 2018 quarter, it’s an almost 40% increase from the previous year where there was $762 million worth of funding.

Fintech companies received nearly the lion’s share of funding in the December 2018 quarter, with $508 million finding their way to fintech startups. Business challenger bank Judo Capital received $350 million of this through a debt facility with Credit Suisse at the end of November 2018. This followed its $140 million funding round in August 2018.

In total, Techboard identified over 160 funding events for the December 2018 quarter. This includes accelerator program fundings, acquisitions, equity crowdfunding, grants and venture capital (VC) funding.

 

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Source: Fintechs received almost half of $1 billion in startup funding from last quarter | finder.com.au

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