Irish FinTech investment on track to surpass 2021 levels

  • Irish FinTech investment is expected to reach $784m in 2022 based on capital raised in the first quarter of 2022, a more than two-fold increase compared to last year’s levels. However, a large deal from Wayflyer ($150m), which provides funding and data analytics for e-commerce businesses, accounted for 76% of Irish FinTech investment in the first quarter and may skew the overall investment prediction for the year. Wayflyer has provided $850m in funding and accelerated over 1,500 companies’ growth. The current record funding achieved in 2019 was boosted by a huge $500m deal completed by Kaseya, which provides software to Manage, Secure & Automate IT.
  • Deal activity in Ireland is set to fall for the fourth consecutive year in 2022 to a total of 32 deals, a 17% decrease from 2021. Overall investment in Ireland has not followed this downward trend however suggesting that deals are larger in size and indicates a maturing sector rather than a falling one as established companies seek bigger deals.
  • Irish FinTech adoption is 71% which is ninth in the world and the same rate as the UK. Contributing factors to Ireland’s impressive FinTech adoption include high mobile usage with 19 out of every 20 adults in Ireland owning a mobile phone and internet usage, which is also very high at 92% of the population.

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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