FT Partners latest number-crunching shows COVID-19 hasn’t derailed venture capital’s interest in the fintech industry.
Total global fintech financing hit $12bn of capital raised in the third quarter of 2020, according to research by FT Partners.
While many predicted the COVID-19 pandemic would hit the fintech industry hard, the three months from 1 July to 31 September was the third-highest on record for global fintech fundraising.
Only in the same period in 2019 ($12.9bn) and the second quarter of 2018 ($24.4bn) were higher. The former was heavily skewed, however, by the $12bn round from Ant Financial.
Analysts at FT Partners say that 2020 is heading for another similar year to 2019 in terms of total funding, where $45.4bn was raised globally for fintechs.