Fintech Funding Statistics 2026
By Axis Intelligence Research
Co-author: Sarah Davis | Last updated: August 6, 2026 | License: CC BY 4.0
Global fintech investment reached $116 billion across 4,719 deals in 2025, per KPMG’s Pulse of Fintech, while deal count fell to an eight-year low. Axis Intelligence Research finds the Fintech Capital Tightening Index (FCTI) at 49.3 for 2025 — up 22.9 points year over year, the highest reading in the index’s four-year series, and driven overwhelmingly by growth-stage valuation stretch.
Quick Answer
Global fintech funding rose to $116 billion in 2025 from $95.5 billion in 2024, but across 4,719 deals versus 5,533 — the fourth consecutive annual decline in deal volume, per KPMG International using PitchBook data. The pattern hardened into 2026: $28.6 billion in fintech venture funding in H1 2026, up 22.7% year over year, spread across just 1,605 rounds, a 25.7% drop, per Crunchbase. According to Axis Intelligence Research, the average fintech venture round grew from $10.79 million in H1 2025 to $17.82 million in H1 2026 — a 65.2% increase in check size with 556 fewer companies funded.
Key Findings
- According to Axis Intelligence Research, the Fintech Capital Tightening Index (FCTI) registered 49.3 out of 100 for 2025, up from 26.4 in 2024 — an 87% year-over-year rise and the highest reading since the index series begins in 2022.
- Global fintech investment across venture, private equity and M&A totaled $116 billion across 4,719 deals in 2025, up 21.5% in dollars while deal count fell to an eight-year low, per KPMG’s Pulse of Fintech H2 2025.
- Axis Intelligence Research finds the median venture-growth pre-money valuation in fintech reached 16.3 times the median later-stage valuation in 2025 ($977.5 million against $60.0 million), widening from 3.9 times in 2024 — the single largest driver of the FCTI’s 2025 move.
- Global fintech exit value more than doubled to $104.4 billion across 486 exits in 2025 from $46.8 billion, with VC-backed IPO exits contributing $63 billion, per KPMG International.
- Axis Intelligence Research finds that two providers reporting an identical $28.6 billion H1 2026 headline disagree by 194 deals on how many rounds produced it — 1,605 per Crunchbase against 1,411 per Innovate Finance — a definitional spread that any citation of the figure inherits.
How Much Funding Did Fintech Raise in 2025 and 2026?
The fintech funding story of the past eighteen months is not a recovery. It is a redistribution.
Total global fintech investment — venture capital, private equity growth and M&A combined — climbed to $116 billion in 2025 from a seven-year low of $95.5 billion, according to KPMG’s Pulse of Fintech H2 2025, which draws on PitchBook data as of December 31, 2025. That is a 21.5% increase in capital deployed. Over the same period the number of companies receiving that capital fell from 5,533 to 4,719, an eight-year low and the fourth straight annual decline.
Run the division and the shape of the market appears. Average capital per fintech deal rose from $17.26 million in 2024 to $24.58 million in 2025 — a 42% jump. In 2022, at the top of the cycle, the same figure was $20.25 million. More money is now chasing fewer names than at the peak.
Global fintech investment by year
| Year | Total investment (US$B) | Deal count | Avg. per deal (US$M) | Source |
|---|---|---|---|---|
| 2022 | 168.4 | 8,314 | 20.25 | KPMG / PitchBook |
| 2023 | 119.3 | 5,764 | 20.70 | KPMG / PitchBook |
| 2024 | 95.5 | 5,533 | 17.26 | KPMG / PitchBook |
| 2025 | 116.0 | 4,719 | 24.58 | KPMG / PitchBook |
Average per deal calculated by Axis Intelligence Research from KPMG totals and deal counts. Data as of December 31, 2025.
First-half 2026 venture funding
Venture-only data for the first six months of 2026 confirms the direction. Fintech startups raised $28.6 billion globally in H1 2026, a 22.7% increase over H1 2025 but a 17.3% decline from the $34.6 billion raised in H2 2025, per Crunchbase. Deal count fell to 1,605 rounds, down 25.7% year over year and down roughly 40% from H1 2024.
Axis Intelligence Research derives the H1 2025 comparison base at $23.31 billion from Crunchbase’s stated 22.7% growth rate, which puts average round size at $10.79 million in H1 2025 against $17.82 million in H1 2026. The dollar total went up 22.7%. The price of admission went up 65.2%.
Sarah Davis: Every cycle produces a headline that flatters the market and a denominator that tells the truth. Here the denominator is deal count, and it has fallen for four consecutive years while dollars bounced. The seed and Series A end of the market is not participating in this recovery — it is being priced out of it, and the 65% jump in average check is the receipt.
What Is the Fintech Capital Tightening Index (FCTI)?
FCTI — Fintech Capital Tightening Index. A 0–100 composite built by Axis Intelligence Research to measure how tightly global fintech capital is concentrating: not how much money exists, but how narrow the aperture has become for the companies trying to reach it.
Fintech funding coverage overwhelmingly reports one number — total dollars — which in 2025 rose and in the same breath obscured a market where a quarter fewer companies were funded than three years earlier at valuations that had detached from the stage below them. No published index quantifies that squeeze. The FCTI does, from four independently sourced components, each normalized to 0–100 and equally weighted.
FCTI readings, 2022–2025
| Year | C1 Deal scarcity | C2 Check-size inflation | C3 Growth-stage stretch | C4 Consolidation share | FCTI |
|---|---|---|---|---|---|
| 2022 | 0.0 | 0.0 | 24.9 | 45.3 | 17.5 |
| 2023 | 30.7 | 2.2 | 25.2 | 57.2 | 28.8 |
| 2024 | 33.5 | 0.0 | 19.5 | 52.5 | 26.4 |
| 2025 | 43.2 | 21.4 | 81.5 | 51.1 | 49.3 |
All component inputs from KPMG Pulse of Fintech H2 2025 (PitchBook data, as of December 31, 2025). Composite calculated by Axis Intelligence Research; formula disclosed in the Methodology section. Higher readings indicate tighter, more concentrated capital.
The 2025 reading of 49.3 is the highest in the series, and the composition matters more than the level. C1 and C4 drifted. C3 — the ratio of median venture-growth pre-money valuation to median later-stage pre-money valuation — went from 3.9 times in 2024 to 16.3 times in 2025, as the growth-stage median leapt from $168.3 million to $977.5 million while the later-stage median moved only from $43.1 million to $60.0 million.
That is the whole story of 2025 fintech in one ratio. A small number of companies crossed into a valuation band that has almost no relationship to the band beneath it, and the index registers the gap.
Which Fintech Segments Attracted the Most Investment?
Digital assets was the year’s structural winner. Investment in the segment nearly doubled from $11.2 billion in 2024 to $19.1 billion in 2025, on 1,199 deals — still short of the $32.2 billion recorded in 2021, but the largest move in any fintech vertical. KPMG attributes the shift substantially to regulatory clarity, principally the GENIUS Act, signed into law as Public Law 119-27 in July 2025, which set reserve, redemption and disclosure requirements for payment stablecoin issuers.
Payments held its position without growing: $19.2 billion across 542 deals, against $20.4 billion across 655 in 2024. Deal count hit a nine-year low. AI-driven fintechs pulled $16.8 billion across 1,334 deals, up from $12.1 billion across 1,183 — the segment with both rising dollars and rising deal count, and the only one in the dataset with that combination.
Global fintech investment by segment, 2025
| Segment | 2025 (US$B) | 2024 (US$B) | Deals 2025 | Share of global | Source |
|---|---|---|---|---|---|
| Payments | 19.2 | 20.4 | 542 | 16.6% | KPMG / PitchBook |
| Digital assets | 19.1 | 11.2 | 1,199 | 16.5% | KPMG / PitchBook |
| AI-driven fintech | 16.8 | 12.1 | 1,334 | 14.5% | KPMG / PitchBook |
| Insurtech | 8.6 | 2.9 | 291 | 7.4% | KPMG / PitchBook |
| Regtech | 4.9 | 6.8 | 519 | 4.2% | KPMG / PitchBook |
| Wealthtech | 1.4 | 4.9 | 57 | 1.2% | KPMG / PitchBook |
| Fintech cybersecurity | 0.7 | 0.89 | 72 | 0.6% | KPMG / PitchBook |
Shares calculated by Axis Intelligence Research against the $116.0B global total. AI-driven fintech is a cross-cutting classification and overlaps the other rows; it does not sum with them.
Two segments went the other way hard. Wealthtech collapsed from a record $4.9 billion to $1.4 billion on essentially flat deal volume — 57 rounds against 58 — meaning the decline is entirely a deal-size story, not a participation story. Fintech-focused cybersecurity fell to $700 million across 72 deals, a seven-year low in both value and volume.
Insurtech’s rebound to $8.6 billion from $2.9 billion deserves a caveat KPMG supplies itself: two outlier transactions — the $2.6 billion Next Insurance acquisition by Ergo and the $2.5 billion Sapiens International take-private by Advent — account for roughly three-fifths of the segment’s annual total. Deal count fell to a 10-year low of 291.
Sarah Davis: Wealthtech losing 71% of its capital while keeping its deal count is the cleanest signal in the segment table. Investors did not walk away from the category — they repriced every cheque inside it. That is what a sector looks like when the exit math stops working and nobody wants to say so on the record.
Which Regions and Countries Lead Fintech Funding?
The Americas absorbed $66.5 billion across 2,409 deals in 2025 — 57.3% of global fintech investment — with the United States alone accounting for $56.6 billion across 1,977 deals, up from $42.4 billion in 2024. Axis Intelligence Research puts the US share of global fintech investment at 48.8% for 2025, rising to 52.4% of global fintech venture funding in H1 2026 on Crunchbase’s data.
EMEA took $29.2 billion across 1,484 deals, its own eight-year low in volume. Within it, the UK attracted $10.9 billion across 418 deals — 37.3% of the entire EMEA total by Axis Intelligence Research’s calculation — though down from $13.3 billion in 2024. Asia-Pacific fell to $9.3 billion across 763 deals, levels the region has not seen in over a decade.
Fintech investment by region and market, 2025
| Market | Investment (US$) | Deals | Source |
|---|---|---|---|
| Americas | $66.5B | 2,409 | KPMG / PitchBook |
| United States | $56.6B | 1,977 | KPMG / PitchBook |
| EMEA | $29.2B | 1,484 | KPMG / PitchBook |
| United Kingdom | $10.9B | 418 | KPMG / PitchBook |
| Nordics | $5.3B | — | KPMG / PitchBook |
| Israel | $2.7B | — | KPMG / PitchBook |
| Brazil | $1.9B | — | KPMG / PitchBook |
| France | $1.0B | — | KPMG / PitchBook |
| Middle East | $1.0B | 135 | KPMG / PitchBook |
| Germany | $965.8M | — | KPMG / PitchBook |
| Asia-Pacific | $9.3B | 763 | KPMG / PitchBook |
| China | $876.1M | — | KPMG / PitchBook |
| Australia | $609M | — | KPMG / PitchBook |
| South Korea | $402.4M | — | KPMG / PitchBook |
| Africa | $370.4M | 95 | KPMG / PitchBook |
Data as of December 31, 2025. Dashes indicate deal counts not disclosed at that level in the source.
Sweden accounted for $4.8 billion of the Nordics’ $5.3 billion. China’s $876.1 million is a striking number for the world’s second-largest economy — down from $991.7 million and below Israel by a factor of three.
For H1 2026, Innovate Finance’s FinTech Investment Landscape reports UK fintech investment down 5%, outperforming a global market it measures as down 12% against H2 2025, with the UK ranked second globally and first in Europe. Crunchbase separately puts UK fintechs at $2.7 billion for the half and India at $1.9 billion.
Where Did the Largest Fintech Rounds Go?
Revolut’s $3 billion late-stage round in November 2025 was the largest fintech VC raise of the second half, lifting the London-based platform to a $75 billion valuation. It was followed by the $2.5 billion Sapiens International take-private, Intercontinental Exchange’s $2 billion stake in Polymarket, and the $2 billion MeridianLink take-private by Centerbridge Partners.
Into 2026, the concentration deepened. Ramp announced a $750 million round at a $44 billion valuation on June 4, 2026, months after raising $300 million at $32 billion. Stripe set a $159 billion valuation through a February 2026 secondary tender, up from $106.7 billion in September 2025. Neither is an IPO. Both are liquidity events engineered to avoid one.
Only three fintech companies completed IPOs in H1 2026 — PicPay, AgiBank and PayPay — all foreign issuers listing in New York, matching the H1 2025 count of eToro, Circle and Chime.
The IPO number most coverage gets wrong
Circle’s June 2025 listing is routinely described as a roughly $1.1 billion IPO. Per Circle Internet Group’s Form 8-K filed with the SEC on June 6, 2025, the offering comprised 34,000,000 Class A shares at $31.00 — $1.054 billion in total, calculated by Axis Intelligence Research from the filing’s share count and price. But only 14,800,000 of those shares were sold by the company. Gross proceeds to Circle were $458,800,000. The remaining 19,200,000 shares were sold by existing stockholders, and the company states plainly that it received none of those proceeds.
That is 43.5% of the headline. Anyone modelling fintech IPO capital formation from press totals is overstating the money that actually reached balance sheets by better than two to one.
Sarah Davis: The gap between an offering’s face value and its primary proceeds is where the exit really happens, and it almost never makes the headline. Circle’s filing says it in one sentence: the company got $458.8 million; selling stockholders got the rest. When exit value doubles to $104.4 billion, that is the number people cite — and a meaningful share of it is existing holders taking liquidity, not new capital funding new build.
How Did Fintech Exits and M&A Perform?
Exit value more than doubled in 2025, from $46.8 billion across 438 exits to $104.4 billion across 486 — the third-highest level KPMG has recorded. VC-backed fintech IPO exits accounted for $63 billion of it, the second-highest annual total after 2021’s $225.2 billion. The Americas contributed $66.5 billion of exit value, of which the US accounted for $58.8 billion.
M&A deal value reached $55.3 billion across 840 deals, up from $44.6 billion in 2024. Private equity growth funding moved the opposite way, down from $5.5 billion across 137 deals to $4.0 billion across 114. Corporate-participating venture activity rose sharply, to $29.7 billion from $20.9 billion.
A note on one figure. KPMG’s own report carries two values for 2025 global fintech M&A: $55.4 billion in the narrative text and $55.3 billion in the corresponding chart. Axis Intelligence Research uses the chart value throughout, since it is the series-consistent figure, and records the discrepancy in the accompanying dataset rather than averaging or silently choosing.
The largest single digital assets transaction on record closed in 2025 — Coinbase’s $2.9 billion acquisition of derivatives exchange Deribit. Ripple’s $1 billion purchase of GTreasury led H2 M&A.
What Regulation Is Shaping Fintech Capital Allocation?
Two regulatory tracks explain much of where fintech money moved in 2025 and 2026, and they moved in opposite directions.
Stablecoins got clarity. The GENIUS Act became Public Law 119-27 on July 18, 2025, requiring permitted issuers to hold reserves backing tokens one-for-one in cash, insured deposits, short-dated Treasury bills and similar instruments, to publish monthly reserve detail, and to disclose redemption policy. Digital assets investment nearly doubled in the same year.
Open banking did not. The CFPB’s Personal Financial Data Rights rule, implementing Section 1033 of the Dodd-Frank Act, was finalized in October 2024 with a first compliance date of April 1, 2026. That date arrived with the rule enjoined by a federal court and the Bureau conducting a reconsideration. The CFPB issued an Advance Notice of Proposed Rulemaking on August 22, 2025 (docket CFPB-2025-0037, 90 FR 40986), seeking comment on who qualifies as a consumer’s representative, how data-access costs should be allocated, and the associated data security and privacy questions. Congressional Research Service analysis of the rule’s status is published at congress.gov.
The contrast is instructive for anyone reading segment allocations. Capital went to the vertical where the rulebook was written and stayed cautious about the one where it was reopened. Regtech investment fell from $6.8 billion to $4.9 billion in exactly the year US data-access rules went back into the drafting room.
Methodology
Collection. All figures were retrieved from primary sources on August 6, 2026. Annual and segment data derive from KPMG International’s Pulse of Fintech H2 2025 (published February 2026), which uses PitchBook data as of December 31, 2025 and covers venture capital including corporate VC, private equity growth funding and M&A for the fintech vertical. Friends-and-family, incubator and accelerator rounds are excluded from that dataset. First-half 2026 venture data comes from Crunchbase News (July 15, 2026) and Innovate Finance’s FinTech Investment Landscape H1 2026 (July 9, 2026). Company-specific offering figures come from filings retrieved from SEC EDGAR. Regulatory facts come from congress.gov and consumerfinance.gov.
FCTI formula. The Fintech Capital Tightening Index is the equal-weighted mean of four components, each expressed 0–100:
- C1 — Deal scarcity = (1 − deals_year ÷ 8,314) × 100, where 8,314 is the 2022 series-peak deal count.
- C2 — Check-size inflation = ((avg_deal_year ÷ 20.25) − 1) × 100, floored at 0 and capped at 100, where avg_deal_year = total investment ÷ deal count and $20.25M is the 2022 base.
- C3 — Growth-stage valuation stretch = ((median venture-growth pre-money ÷ median later-stage pre-money) ÷ 20) × 100, capped at 100.
- C4 — Consolidation share = ((M&A value + PE growth value) ÷ total investment) × 100.
FCTI = (C1 + C2 + C3 + C4) ÷ 4.
Worked example for 2025: C1 = (1 − 4,719 ÷ 8,314) × 100 = 43.24. C2 = ((24.58 ÷ 20.25) − 1) × 100 = 21.36. C3 = ((977.5 ÷ 60.0) ÷ 20) × 100 = 81.46. C4 = ((55.3 + 4.0) ÷ 116.0) × 100 = 51.12. Mean = 49.30. All arithmetic was independently recomputed before publication and every input carries a row in the accompanying dataset.
Cross-source figures. Average capital per deal, regional and segment shares, the H1 2026 average round size, and the provider deal-count spread are calculated by Axis Intelligence Research from the sourced inputs identified in each case. Where the underlying data uses incompatible methodologies — KPMG’s total-investment basis includes M&A and PE while Crunchbase’s venture basis does not — figures are reported side by side and not merged.
What this index does and does not capture. The FCTI measures concentration in disclosed, completed transactions. Secondary sales and tender offers, which reached significant scale in 2025 and 2026, sit outside all three underlying datasets and therefore outside the index. Debt facilities are likewise excluded. Deal values remain unestimated where they are not disclosed, so all deal-value series understate true capital flows by an unknown margin common to the whole industry.
About This Dataset
Contents. 132 observations covering global, regional and country-level fintech investment; deal counts; segment breakdowns; median pre-money valuations by stage; exit and M&A activity; company-specific offering data; and the four-year FCTI series with its component scores.
Coverage. Temporal: 2021–2026 (primary focus 2022–H1 2026). Spatial: global, with breakouts for the United States, United Kingdom, Brazil, Israel, Sweden, France, Germany, China, Australia, South Korea, India, the Middle East and Africa.
Format. UTF-8 CSV, one row per observation, with source_org, source_document, source_url, retrieved_date, is_primary, axis_calculated and method_note on every row.
License. CC BY 4.0. Free to reuse, republish and build on with attribution to Axis Intelligence Research.
How to Cite This Research
APA Axis Intelligence Research. (2026). Fintech funding statistics 2026: Deal value, deal count, valuations & regional data. https://axis-intelligence.com/fintech-funding-statistics/
MLA Axis Intelligence Research. “Fintech Funding Statistics 2026: Deal Value, Deal Count, Valuations & Regional Data.” Axis Intelligence, 6 Aug. 2026, axis-intelligence.com/fintech-funding-statistics/.
Chicago Axis Intelligence Research. “Fintech Funding Statistics 2026: Deal Value, Deal Count, Valuations & Regional Data.” Axis Intelligence, August 6, 2026. https://axis-intelligence.com/fintech-funding-statistics/.
Dataset citation: Axis Intelligence Research, Fintech Funding Statistics 2026, 2026. Licensed CC BY 4.0.
Frequently Asked Questions
Why did fintech deal value rise while deal count fell for a fourth straight year?
Because the two measure different populations. Deal value is dominated by a handful of very large late-stage rounds and take-privates — Revolut at $3 billion, Sapiens at $2.5 billion, Polymarket and MeridianLink at $2 billion each in H2 2025 alone. Deal count reflects how many companies cleared any investor’s bar at all, and that population shrank from 8,314 in 2022 to 4,719 in 2025. A rising total with a falling count means the average survivor got substantially more money and the marginal company got none.
Is the $28.6 billion H1 2026 figure comparable to the $116 billion 2025 figure?
No, and conflating them is the most common error in fintech funding coverage. KPMG’s $116 billion is a full-year total spanning venture capital, private equity growth and M&A. Crunchbase’s $28.6 billion is six months of venture rounds only. On a like-for-like venture basis, KPMG recorded $56.7 billion globally in 2025 across 3,765 deals. Always check whether a fintech funding number includes M&A before comparing it to another.
Why do Crunchbase and Innovate Finance report the same dollar total but different deal counts for H1 2026?
Both put global H1 2026 fintech investment at $28.6 billion. Crunchbase counts 1,605 rounds; Innovate Finance counts 1,411 — a 194-deal spread. The gap comes from classification: which companies count as fintech, whether undisclosed-value rounds are included, and how late-arriving early-stage data is treated. The dollar convergence is coincidental, not confirmatory, and any average-round-size calculation inherits whichever denominator you pick.
What does an FCTI reading of 49.3 actually mean for a fintech founder raising now?
It means roughly half the maximum measurable tightness, driven almost entirely by one component: growth-stage valuations sitting 16.3 times above later-stage medians. Practically, capital is available in quantity at the top of the market and scarce at the bottom. A company with institutional customers, an infrastructure position or genuine data assets is raising into the loosest conditions since 2021. A company without one of those is competing for a shrinking count of rounds at unchanged or worse terms.
Which fintech segment saw the largest increase in investment?
Digital assets, which rose from $11.2 billion in 2024 to $19.1 billion in 2025 — the largest absolute and proportional increase in the dataset. Insurtech rose more in percentage terms, from $2.9 billion to $8.6 billion, but two transactions account for most of that total, so the segment-wide signal is weaker than the headline suggests.
How much of the $104.4 billion in 2025 fintech exit value was new capital?
None of it, by definition — exit value measures liquidity to existing holders, not funding into companies. This is worth separating carefully from investment totals. Circle’s IPO illustrates the distinction inside a single transaction: a $1.054 billion offering at the issue price, of which $458.8 million was gross proceeds to the company and the balance went to selling stockholders, per its SEC filing.
Did the GENIUS Act measurably change where fintech capital went?
The timing is close and the direction is consistent: the law was signed on July 18, 2025, and digital assets investment nearly doubled over the year, with KPMG explicitly linking the surge to regulatory certainty in the US alongside MiCA in the EU. Attributing the entire move to one statute would overreach — MiCA had been in force since late 2024 and the sector was already recovering from a two-year trough — but the stablecoin and tokenization deal flow that followed is documented in the same report.
Why is fintech-focused cybersecurity investment at a seven-year low while financial fraud risk is rising?
KPMG’s read is consolidation and a wait-and-see posture: large platform vendors are acquiring niche security startups rather than investors funding them independently, and VCs expect the remaining small players to be bought or to disappear. Only $700 million went into the segment across 72 deals in 2025. The spending is not vanishing — it is moving from standalone fintech-security startups onto the balance sheets of platform acquirers and into banks’ internal AI programs.
Where can I download the underlying data?
The full 132-row dataset behind every figure on this page is available as a CSV under CC BY 4.0, with source organization, source document, source URL and retrieval date on every row. Journalists, analysts and researchers are free to republish any figure with attribution to Axis Intelligence Research.
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