Key Global FinTech investment stats in H1 2024:
- Global FinTech funding in the first half dropped by 43% YoY
- US continued its global FinTech dominance with 50% of the top 10 deals in H1
- Australia made it into the top 10 deals with Sydney based Betashares, who secured $198m in a funding round
In H1 2024, the global FinTech sector recorded 2,754 transactions, reflecting a sharp decline of nearly 50% from the 5,449 deals completed in the same period in 2023 and a 35% drop from the 4,216 funding rounds in H2 2023. Total FinTech funding in H1 2024 amounted to $53bn, representing a 46% decrease from the $98bn raised in H1 2023 and a 20% decline from the $66bn raised in H2 2023.
The top 10 deals in H1 2024 were spread across five countries, with the United States maintaining its dominance with five top deals, unchanged from H1 2023. The United Kingdom also saw a steady presence with two top deals in H1 2024, compared to just one in H1 2023. India, which had two top deals in H1 2023, only recorded one in H1 2024, while new players like Singapore and Australia made their way into the top 10, replacing Italy and Israel. This shift suggests a diversification of FinTech leadership across regions, with traditional powerhouses like the U.S. and the U.K. holding strong, while new markets like Singapore and Australia are gaining traction.
Betashares, a leading Australian financial services company known for its investing platform Betashares Direct and range of exchange-traded funds (ETFs), has secured the largest deal for an Australian FinTech in H1 2024 with a $198mn investment from Temasek, a global investment firm headquartered in Singapore. This has enabled Australia to break into the top 10 deals for the half. This capital injection follows a period of rapid expansion for Betashares, which has managed over $25bn on behalf of more than a million investors, financial advisers, and institutions. The investment from Temasek, which will see the firm become a minority shareholder alongside TA Associates and Betashares’ staff, underscores Betashares’ long-term ambition to become a premier independent financial services provider. The company continues to innovate with initiatives like Betashares Direct, a retail investment platform designed to assist self-directed investors in building long-term wealth. Betashares remains committed to transparency, cost-effectiveness, and simplicity as it expands its market presence and offerings, aiming to create long-term value for customers, partners, and shareholders alike.
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