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Global fintech funding was down 13% from $7.3 billion in Q4 2018 to $6.3 billion in Q1 2019, according to a new report from CB Insights.
Business Insider IntelligenceHowever, deal numbers increased from 427 in Q4 2018 to 445 in Q1 2019, despite early stage funding dipping, while mid- and late-stage funding increased. Moreover, funding actually ticked up 1.5% year-over-year (YoY) from $6.2 billion in Q1 2018.
Here's what it means:Fintech investment developments vary in different markets, and while Europe has seen a great quarter, Asia's fintech industry wasn't in the limelight.
- Asia took the biggest hit in terms of fintech funding. For the first time in five quarters, fintech funding in Asia dipped below the $1 billion threshold, with fintechs only able to secure $875.7 million in funding. Additionally, investments in Chinese fintechs fell 89% to just $192 million, allowing India to take over in terms of funding. This dip might be related to the regulatory crackdown in China, especially in the marketplace lending space, and the fact that "most of the low-hanging fruit" has been picked already, according to Liu Genping, a partner at Vertex Ventures cited by the Financial Times.
- Meanwhile, funding in Europe more than doubled in Q1 2019. Funding increased from $803.7 million in Q4 2018 to $1.7 billion last quarter, marking a record funding amount for Europe. While the UK has been and will likely remain the powerhouse of Europe's fintech scene, other countries, including Germany, gained significant interest from investors last quarter, likely contributing to the surge in funding in the region.
- North American fintech funding decreased 2%, but remains stable. This region has seen the least volatility last quarter, with fintechs securing $3.5 billion in funding. It remains the best funded region globally, and the largest fintech funding round in Q1 2019 went to US-based Clover Health, which secured $500 million in January.
The bigger picture:As fintech continues to mature, investor interest will likely increase — but some markets will be more difficult to enter than others.
Especially in Europe, investors seem to be waking up to the funding opportunity, but China may plateau.Europe was still an emerging fintech center over the past years; however, with increased maturity across the region, investor interest is increasing rapidly.
As such, we expect fintech funding in Europe to reach new highs throughout 2019. However, other regions like Asia might have a more difficult time in the future: A number of companies have established themselves as fintech giants in China, including Lufax and Ant Financial, making it increasingly difficult for smaller players to establish themselves and convince investors that their business model is promising for the future.
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