• Klarna, a buy now pay later (BNPL) platform, was the largest FinTech deal in July 2022 raising $800m in its latest venture round that included ten investors in total including existing investors Sequoia and Silver Lake. The latest funding has dramatically changed Klarna’s valuation from $45.6bn to $6.7 bn, an 85% drop as higher interest rates, growing inflation and competition affect the company. Klarna are still the market leaders in the USA for BNPL companies with 30m users and currently generate $1bn in gross profit per year across the company’s established markets.
• Overall there were 459 FinTech deals in July, a 14% drop from June which saw 530 deals completed in total. The USA continued to be the most active country for FinTech investment last month with 173 deals, a 42% share of total deals this month. The Blockchain & Crypto sector was the most active FinTech sector with 86 deals, a 19% share of total deals, edging slightly ahead of the WealthTech sector which had 84 deals in total.
Check out Top deals in June here
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