More than $1.4 billion in capital secured by Australian Fintech firms in 2019
More than $1.4 billion in capital was secured by Australian Fintech firms in 2019 across 38 deals or partnerships, setting a new record. The significant increase in financial technology investments may be attributed (partially) to the rising number of rounds of at least $100 million, Fintech Global data confirms.
Around 72.8% of the total capital raised was invested in deals worth a minimum of $100 million, while the amount of funds invested in Fintech projects valued at below $100 million has been quite flat since the past couple of years.
During 2019, the record fundraising represented about half, or 47%, of the total capital secured in Australia over the last four-year period. Out of the 10 largest deals, one was carried out during the first quarter of last year, one in the second quarter of 2019, and six in Q3 2019 and two in Q4 2019.
Wealth technology (Wealthtech) and marketplace lending firms attracted the most capital when compared to all other areas, representing almost 60% of total Fintech funding in the country since 2015. Wealthtech firms accounted for 31.4% of the capital secured through fundraisers.
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