VC investment accounted for $31 billion of this total-shattering the previous annual high of $24 billion set in 2020. III.Īcross the Americas more broadly, fintech investment was also very strong, reaching $51.4 billion in H1’21. V, and the SPAC merger of insurtech Clover Health with Social Capital Hedosophia Holdings Corp.
The maturation of the fintech sector was evident in the robust exit activity in the US, including Affirm’s successful IPO, the direct listing of Coinbase, the SPAC merger of SoFi with Social Capital Hedosophia Holdings Corp. Big deals included a $3.4 billion raise by Robinhood, a $600 million raise by Stripe, and $500 million raises by Better, ServiceTitan, and DailyPay. VC investment in the US was particularly strong, surging past 2020’s peak high of $22 billion to reach over $25 billion in H1’21. Overall fintech investment in the US remained robust in H1’21, reaching $42.1 billion. Under pressure to increase the velocity of their digital transformation and to enhance their digital capabilities, corporates were particularly active in venture deals, participating in close to $21 billion in investment over nearly 600 deals globally, with many realizing it’s quicker to do so by partnering with, investing in, or acquiring fintechs.
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Dry powder cash reserves, increasing diversification in hubs and subsectors, and strong activity across the world contributed to the record start to 2021, with funding increasing from US$87.1 billion in H2’20 to US$98 billion in H1’21.įintech valuations remained very high in H1’21 as investors continued to see the space as attractive and well-performing – a likely driver in the explosion of unicorn births with 163 created in the first half of the year. Overall global fintech funding across M&A, PE, and VC deals soared to a new high in H1’21, according to KPMG’s Pulse of Fintech, a bi-annual report on fintech investment trends.
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