A recent analysis from Crunchbase states that global fintech funding hit $75.2 billion in 2022, a 46% reduction from 2021 and a 52% decline from 2020.
According to the data, the funding slowdown was more severe in the second half of the year. In Q4’22, funding totaled $10.7 billion, the lowest quarterly level since 2018.
The research also showed that agreements in the fintech industry decreased by 8% annually in 2022, totalling 5,048. According to data, Africa was the only continent to have an increase in agreements from 2021.
The data indicates that although fintech financing is still strong, the market’s growth may be slowing down. It is important to note that Africa displayed a favourable trend, which may point to fresh potential in the continent’s financial landscape.
