Venture capital investment in FinTech reaches record US$27.4 billion high

Global investment in FinTechs by venture capital grew to a record $27.4 billion in 2017, spurred on by high deal value in the US, UK and India. Digital payments and lending services attracted the most investment capital.

FinTech (financial technology) startups continue to draw the interest of venture capital around the world. Venture capital firms and funds continue to see great potential in the disruptive FinTech firms which are providing user-friendly financial services and products through modern and innovative technology: digital payments services and online lending platforms the foremost among them.

Confidence in FinTech has accelerated venture capital financing in the industry to a record level of $27.4 billion in 2017 – a growth of 18% from 2016. According to a recent report from consulting firm Accenture, the growth in FinTech investment has been driven by a surge in deal value in the US, UK and India.

In the US, the value of venture capital investment deals jumped 31% to $11.3 billion in 2017. Meanwhile, in the UK, deal values almost quadrupled to $3.4 billion, while India saw a near quintupling of investment to $2.4 billion in 2017. The volume of global FinTech deals also rose greatly, from about 1,800 in 2016 to almost 2,700 in 2017.

Julian Skan, Senior Managing Director in Accenture’s Financial Services practice, commented, “Much of the growth, particularly in the U.S. and UK, has been driven by big new investment flows from China, Russia, the Middle East and other emerging economies.”

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Source: Venture capital investment in FinTech reaches record $27.4 billion high