2023 was a challenging year for the fintech market, with total global fintech investment dropping from US$196.6 billion across 7,515 deals in 2022 to a six-year low of US$113.7 billion across 4,547 deals in 2023 according to the Pulse of Fintech H2’23—a bi-annual report published by KPMG highlighting global fintech investment trends. Conflicts in Ukraine and the Middle East, the high interest rate environment, and the barren exit environment across regions saw fintech investors holding onto their cash throughout much of the year.
The second half of 2023 showed a marginal gain over the first half, with total fintech investment rising from US$55.5 billion in H1’23 to US$58.2 billion in H2’23. Six $1 billion+ deals contributed significantly to this result, including the US$11.7 billion acquisition of US-based Black Knight by Intercontinental Exchange, the US$10.5 billion…
