Data presented by Buy Shares indicates that ten highest funded private fintech companies have cumulatively raised 20.92 billion. The registered funding is as of September 2020.
Grab accounts for almost half of the funding
Out of the ten companies, mobile and wallet remittance firm Grab has the highest share at $9.65 billion or 46% of the top ten most funded companies. Stripe’s $1.95 billion is almost five times less than Grab’s to lie in the second spot.
Robinhood has raised the third-highest amount at $1.71 billion followed by Oscar Health’s $1.49 billion. Digital banking platform Nubank closes the top five categories having raised $1.39 billion to date.
Cryptocurrency exchange Coinbase has raised $538.70 million, the least in the group. BlueVine is ninth with $691.1 million, making it the other only company with less than one billion in funding.
With a rise in the Fintech sector funding, new trends are beginning to emerge in the sector. According to the research report:
“Due to economic uncertainties like the coronavirus, new trends in Fintech funding are beginning to emerge. Most investors are moving money away from seed and early-stages toward late stages as a safety measure. Additionally, investors are betting on firms that improve existing processes.”
As the Fintech sector continues to evolve, investors are taking advantage of the emerging opportunities brought about by factors like technological innovations.
The full story, statistics and information can be found here:https://buyshares.co.uk/10-private-fintech-startups-hit-20bn-in-funding-grab-accounts-for-46/