While there has been a funding winter in fintechs and tech startups over the past year, funding has seen an uprise in early stage deal funding and decline in late stage deals funding. FinTech funding has seen a rise in the last 2-3 months, however, the fundraise for May dropped significantly to USD 138 million from USD 607 million fundraise in April.
FinTech funding witnessed about 77.26 per cent decline in the month of May, recording about USD 138 million from 13 deals. The highest raised in the month was by a fintech giant PhonePe, with a USD 100 million fundraise from General Atlantic, followed by Xflow which raised about USD 10.2 million from Square Peg Capital, Lightspeed Venture Partners, General Catalyst Partners and Moore Strategic Ventures, revealed latest data by 1Lattice (Prev PGA Labs).
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