FinTech Global recently spoke to several industry players about how automation can transform the customer experience and improve the market appeal. With marketplace lending becoming a highly competitive market, firms are looking at how they can stand out. fact, there were 134 Lending Technology deals globally in Q1 2023, a 9.9% share of total FinTech deals, according to research from FinTech Global.A combined $2.2bn was raised by Lending Technology companies in Q1 2023 and the US was the most activity country in the sector, with 44 deals completed. Marketplace lending has proved to be a very popular sector this year. Settle, Auxilo Finserve, Lumi and SuperFi were the marketplace lending companies, and bunq, GIMO, Immediate and AgenaTrader were the WealthTechs. Marketplace lending and WealthTech companies both accounted for four deals apiece, and raised $217.9m and $86m, respectively. Collectively, these five companies raised $253.5m. The other PayTech deals of the week were raised by GlossGenius, Croissant, SquadTrip and Sunrate. Just behind RegTech this week was PayTech, which recorded 5 funding rounds, including this week’s biggest deal. There were 58 deals in Q2, a 6% decline compared to the same period in 2022 and the companies raised $208m in aggregate during Q2 2023, a 77% reduction YoY. However, while it is doing better than the rest of the market, there are still signs of struggle during a tough financial market. European RegTech investment outperformed the general FinTech market in Q2 2023, according to research by FinTech Global. This strong week for RegTech matches an overall shift in the market. OneTrust, a data governance firm, recorded the largest RegTech funding round of the week ($150m) and was the second biggest deal, falling just behind credit card provider Mercury Financial’s $200m debt facility. As mentioned, the RegTech sector secured the most number of deals, raising a combined total of $223m. RegTech proved popular this week in the dealmaking world, accounting for seven of the total 28 deals completed.Īcross the 28 FinTech funding rounds, a total of $832m was raised, of which, $747m was secured by the ten biggest deals of the week.
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