$2 billion: fundraising by fintech firms surges in 2021

Record investments have been led by merchant platform which boosted the market

The Indian domestic Fintech has attracted over $2 billion in the first half this financial year making it the best gain ever.

 

According to reports, record investments have been led by merchant platforms which boosted the market. Digital banking space has attracted most of the money and while the second biggest was insurtech. Several other startups, including Turtlemint, Renewbuy, and Digit Insurance raised funds from the mid-sized private equity and venture capital funds.

 

In Asia, out of the top ten deals, four were into domestic companies during the period under review. Policy Bazaar and Paytm have filed the largest-ever IPO in the country and also in terms of acquisitions.

 

From the Mergers and acquisitions front, fintechs could be targeted by banks and by larger fintechs or even a fintech services conglomerate.

 

Fortunate Fintech unicorns are expected to try to tap into the strong capital market by looking at IPOs over the next 12 months. While banks are also keen to partner with fintechs.

India Scanner News Network

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