GLOBAL investment funding in the fintech sector reached a record $5.4bn (£3.86bn) during the first quarter of 2018, according to new research.
CB Insights’ latest Global Fintech Report found that there were 323 fintech deals around the world that added up to the record amount of funding.
The US led the way with 157 fintech deals during the quarter, a 38 per cent increase on the previous quarter.
By contrast early-stage investments in Europe fell to 63, compared to 77 in the final quarter of 2017.
However, European overall funding levels rose on the back of $100M+ investments in later-stage digital banking start-ups N26 and Atom Bank.
Those deals were part of a wider global trend that saw 12 $100m+ deals across four continents during the quarter, including eToro, Oscar Health and C2FO.
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CB Insights also found that over the last five quarters, major US banks including Goldman Sachs, Citigroup, and JPMorgan slowed down their fintech investments relative to 2016’s highs.
European banks were more active as Santander made three new portfolio investments in the first quarter of 2018.
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