May 2019 FinTech Funding – Payments & Lending Startups Top the Chart

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In May 2019, FinTech startups across the globe raised $2.67 billion worth of VC/PE investments across 121 deals. The US heavily dominated the funding charts with $1.59 billion, which was a whopping 59.6% of the global FinTech funding in the fifth month of 2019. The United Kingdom was a distant second with a 12.1% ($325.4 million) contribution, with Canada and Mexico contributing 4.3% ($117.5 million) and 3.9% ($105.5 million) respectively.

In region-specific terms, the Americas dominated global FinTech VC funding in May with 68.8% in contributions in terms of funding value ($1.84 billion) and 35.5% in terms of the number of deals (43). Europe placed second with 19% in contributions to global FinTech VC funding in May by value ($509.1 million) and 35.5% in terms of the number of deals (43). Asia placed third with 11% in contribution to global FinTech VC funding in May by value ($295.6 million) and 22.3% in terms of the number of deals (27).

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Among the segments, Payments led the VC funding race in May 2019 with $713.25 million in funding across 16 deals. Some of the biggest fundraises from this segment in May were the USA-based Marqeta series E funding of $260 million, the UK-based Checkout series A funding of $230 million, and the Mexico-based Clip series C funding of $100 million.

The segment that held second place in the funding race was Lending, which saw $706.6 million raised across 20 funding deals. SoFi received the highest funding in this segment with $500 Private Equity funding followed by Harbin Consumer Finance from China that received funding of $65.37 million.

WealthTech (Retail) was third in the list of segments with the highest VC funding in May 2019 as the startups in this space raised $388.2 million across 15 funding deals. This was majorly contributed by Carta’s series E funding of $300 million. InsurTech and RegTech were the other two among the top five FinTech segments in terms of funding value in October.

InsurTech startups raised $248.8 million across 13 deals. The InsurTech funding charts were led by Singapore-based GoBear with $80 million. A couple of other major deals in this segment were – Netherlands-based CarePay International series A round of $44.8 million and Coalition series B round of $40 million. On the other hand, RegTech startups raised $138.8 million across 10 deals. The funding in this segment was majorly contributed by the US-based Dashlane’s $110 million series D funding.

MEDICISenior Research Manager

Ravi conducts research across all FinTech domains and has in-depth experience in the areas of consulting & research. He also has a deep understanding of talent mapping solutions and has previously worked with Fortune 500 companies to solve their talent-related problems. Ravi is especially interested in Cryptocurrency and Blockchain. He has helped various companies understand upcoming technologies in the FinTech domain across the globe. He truly believes that the two things that matter the most in any business is ‘money’ and ‘talent’ and loves solving problems related to these two drivers.

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