Key European FinTech investment stats for 2024:
- European FinTech funding halved in 2024
- Deals $100m and over dropped by 48% as investors became more selective
- Zepz, a London-based leading digital money transfer service, secured one of the largest European FinTech deals for the year with a $267m funding round
European FinTech funding halved in 2024
The European FinTech market experienced a sharp decline in both deal volume and total funding in 2024.
The year closed with 1,050 deals, marking a 62% drop from the 2,787 deals recorded in 2023 and a 68% decline from the 3,295 deals seen in 2020.
Total funding in 2024 amounted to $18.4bn, representing a 47% decrease from the $34.6bn raised in 2023 and a similar 47% decline from the $34.3bn secured in 2020.
The average deal size in 2024 stood at $17.5m, reflecting a 41% increase from $12.4m in 2023 and an 84% rise from $9.9m in 2020, indicating a shift towards fewer but larger deals as investors focus on select high-value opportunities.
Deals $100m and over dropped by 48% as investors became more selective
Funding from deals under $100m totalled $8.8bn in 2024, down 46% from the $16.3bn recorded in 2023 and also 45% lower than the $16bn seen in 2020.
Meanwhile, larger deals valued at $100m or more accounted for $9.6bn, a 48% decline from the $18.3bn raised in 2023 and a similar 48% drop from the $18.3bn secured in 2020.
This substantial fall in high-value transactions signals a more cautious approach from investors, who are adjusting their strategies amid shifting economic conditions and increased market uncertainty.
The overall downturn in funding and deal volume highlights the ongoing challenges faced by the sector, as capital becomes more selective and risk appetite continues to wane.
Zepz, a London-based leading digital money transfer service, secured one of the largest European FinTech deals for the year with a $267m funding round
The funding round was led by Accel, with participation from Leapfrog, TCV, and the International Financial Corporation, which pledged up to $20m.
The funding will drive Zepz’s expansion in its core African markets and beyond, as the company continues to address the fragmented remittance industry by offering cost-effective digital solutions that replace traditional cash transfers.
Having achieved full-year profitability in 2022, Zepz is leveraging its strong operational foundation to explore opportunities for further growth, including potential acquisitions of smaller firms.
Founded in 2010 with a mission to reduce the high transaction fees in cross-border money transfers, Zepz has grown into a global remittance powerhouse, supporting underserved communities during times of need and driving financial inclusion through its innovative platform.
Keep up with all the latest FinTech research here
Copyright © 2025 FinTech Global
