Indian FinTech deal activity drops 18% in 2022 after weak Q4

top indian fintech deals 2022 table

India’s FinTech investment highlights from 2022:
• There were 374 FinTech deals announced, 18% lower than 2021
• A total of $6bn in capital was raised, which is 37% lower compared to 2021
• Q4 2022 saw 74 FinTech deals, a 36% drop from the first quarter

FinTech deal activity in India fell to 374 deals in 2022, an 18% reduction compared to the previous year. FinTech deal activity in the country has also slowed down. Deals have consecutively dropped each quarter to 74 deals in Q4 2022, a 36% drop from Q1 2022 levels. FinTech investment in the country has also faltered, falling to $6bn in 2022, a 37% reduction from 2021. Q4 2022 FinTech investment was also the lowest in 2022 with $1.02bn in capital raised, a 65% drop from Q1 2022.

IIFL Home Loan, a housing finance company, was the largest Indian FinTech deal in 2022 raising $283m in their latest Private Equity funding round from Abu Dhabi Investment Authority. The company is planning to use the additional capital to continue its expansion into new markets to meet growing demand for housing loans.

Bangalore starred as the most active FinTech city in India during 2022 accounting for 40.6% of FinTech deals in the country, 168 deals in total. Mumbai was the second most active FinTech city with a 15.7% share and New Delhi was third with 8.7% . Bangalore has long been a popular destination for foreign investors, multinational corporations, and Indian conglomerates, drawing attention to its thriving business environment. The city also provides ample infrastructure benefits and tax breaks to companies that establish operations there.

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. ©2023 FinTech Global

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