35 new FinTech unicorns were announced in Q1 2022 outpacing 2021 levels

  • FinTech unicorn announcements are on track to set new record in 2022. 35 new FinTech companies joined the coveted club in the opening quarter and if these levels continue 2022 is expected to beat 2021’s total of 147 FinTech new unicorn announcements.
  • Akulaku, a digital bank, became Indonesia’s fourth FinTech unicorn. This brought the countries total number of unicorns across all sectors to eight in total and accounts for a quarter of all unicorns in Southeast Asia. Indonesia is rapidly becoming one of the big players in FinTech. With a youthful population (84% under 54), a good Internet penetration rate of 67% and strong foreign investment, FinTech adoption is poised to rise significantly in the future.
  • The US and UK dominated the list of new FinTech unicorns, accounting for 60%. Overall, the US had 17 new FinTech unicorns announced in Q1 2022 and the UK had three in total.

The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2022 FinTech Global

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