Over $550m raised in major fintech investment rounds last week

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Data acquired by Finbold.com indicates that the top 25 fintech companies raised $554.17 million over the past week.

Razorpay and Wealthsimple leads in funding

From the data, the payment platform Razorpay raised the highest amount at $100 million to account for 18.04% of the amount raised by the companies. Wealthsimple raised the second-highest amount at $87 million (C$114 million) followed by Deepwatch at $53 million. NYDIG had the fourth-highest amount raised at $50 million while M1 Finance closes the top five categories with $45 million.

Other companies that raised notable amounts include Extend ($40 million), FOSSA ($30.55 million), +Simple ($23.75 million), Finexio ($23 million), and Sonrai Security ($20 million).

Elsewhere, Evolve Credit raised the least amount among the highlighted companies at $0.025 million, while Upside Saving raised the second least funds at $0.42 million. Notably, they are the only two companies to raise under $1 million.

Oliver Scott, a Finbold editor commented on funding in the fintech sector:

“Notably, venture capital is still the primary source of funding for fintech startups. However, new trends indicate a high level of private equity and debt financing. Additionally, more funding activity is concentrated around later funding rounds. The sector is also witnessing a rise in IPOs and acquisitions. Such trends are pointing to a maturing market.”

With increased funding, investor activity in the fintech sector is likely to center on the infrastructure and of the financial technology ecosystem

Read the full story with statistics here: https://finbold.com/over-550m-raised-in-major-fintech-investment-rounds-last-week/

About Neel Achary 19394 Articles
Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.