India ranked third globally in fintech funding, receiving $1.9 billion in 2024, regardless of a 33% decline from the earlier 12 months, in keeping with Tracxn’s Annual India Fintech Report. The drop was attributed to a slowdown in demand and geopolitical challenges.
India’s fintech sector secured $1.9 billion in 2024, a 33% lower from $2.8 billion in 2023, however nonetheless ranked third globally.
In 2024, the sector raised $805 million in Q3, marking a 61% YoY improve.
59% of complete funding got here within the second half of 2024, with August being the strongest month at $434 million.
Regardless of funding challenges, India’s fintech ecosystem confirmed resilience, rising two new unicorns and recording eight IPOs.
Digital lending options led funding, making up 64% of the whole.
Late-stage funding noticed a 42% drop to $1.1 billion, whereas early-stage financing dropped 16% to $562 million.
Mergers and acquisitions fell by 16%, with 26 offers, together with notable transactions by PureSoftware and ET Cash.
Bengaluru remained the highest fintech funding hub, adopted by Mumbai and Delhi.
The Funds phase skilled the most important decline, with a 77% drop in funding in comparison with 2023.
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