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New Delhi<\/strong>: During the first half of 2024 (January-June), there was a significant decline in funding in the fintech sector, with only $795 million raised, marking a 59% drop from the $1.93 billion raised in the same period last year.<\/p>\n According to market intelligence platform Tracxn, the sector secured $896.7 million in the second half of 2023. In its semi-annual report, Tracxn noted that funding in late-stage rounds reached $551 million, reflecting a 63% decrease from the $1.5 billion raised in the first half of 2023.<\/p>\n Neha Singh, co-founder at Tracxn, highlighted the need for a cautious outlook and strategic planning among start-ups and investors due to the funding slowdown. Despite this, she expressed optimism regarding the sector\u2019s dynamism, expecting growth and innovation driven by a supportive policy environment and technological advancements.<\/p>\n The Reserve Bank of India (RBI) introduced the Framework for Self-Regulatory Organisation for FinTechs to promote self-regulation within the industry and ensure compliance with government regulations. This move is anticipated to enhance trust and stability within the sector, emphasizing the significance of fintech start-ups within the country\u2019s financial system.<\/p>\n Funding in both the seed stage and early stage also experienced a decline in the first half of 2024. Early-stage rounds raised $179 million, representing a 50% decrease from the $361 million raised in H1 2023.<\/p>\n In the funding distribution, the first quarter of 2024 (January-March) contributed significantly, with $582 million raised, while Q2 2024 saw only $214 million in funding. Among the top-performing sectors in the fintech space, Alternative Lending, RegTech, and Banking Tech stood out. Notably, Perfios emerged as the sole start-up to achieve unicorn status during this period. Bengaluru led in terms of total funds raised, accounting for 37% of the funding ($297 million), followed by Mumbai ($231 million) and Pune ($106 million).<\/p>\n The first half of 2024 witnessed six acquisitions, marking a 66% decline compared to the 18 acquisitions in H1 2023. Additionally, a total of five companies went public in the first half of 2024, while no IPOs were observed in the same period the previous year.<\/p>\n<\/div>\n [ad_2] [ad_1] New Delhi: During the first half of 2024 (January-June), there was a significant decline in funding in the fintech sector, with only $795 million raised, marking a 59% drop from the $1.93 billion raised in the same period last year. According to market intelligence platform Tracxn, the sector secured $896.7 million in the second […]<\/p>\n","protected":false},"author":1,"featured_media":33401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-33400","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"jetpack_featured_media_url":"https:\/\/thenftimes.com\/wp-content\/uploads\/2024\/07\/OIP-7.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/33400","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/comments?post=33400"}],"version-history":[{"count":1,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/33400\/revisions"}],"predecessor-version":[{"id":33402,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/posts\/33400\/revisions\/33402"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/media\/33401"}],"wp:attachment":[{"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/media?parent=33400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/categories?post=33400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thenftimes.com\/index.php\/wp-json\/wp\/v2\/tags?post=33400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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