An Accenture analysis of data from CB Insights shows 2017 was record-setting in terms of global investment in financial technology (fintech) ventures. A few key findings from the report include:
- Fintech financing rose 18 percent in 2017, to US$27.4 billion, with the value of deals in the U.S. jumping 31 percent, to $11.3 billion.
- The number of fintech deals rose sharply, from just over 1,800 in 2016 to nearly 2,700 in 2017.
- Total global investment in fintech ventures between 2010 and 2017 reached US$97.7 billion, with U.S. startups accounting for more than half (54 percent) of all investments.
- Fintech startups operating in lending and payments took the bulk of U.S. investments, mirroring a global trend and accounting for 60 percent of the $11.3 billion in the country.
Julian Skan, senior managing director in Accenture’s Financial Services practice, explained, “Much of the growth, particularly in the U.S. and UK, has been driven by big new investment flows from China, Russia, the Middle East and other emerging economies.”