Half of Largest Deals in Global FinTech Involve U.S.

American companies continue to dominate the global FinTech market, with 50% of the largest deals in 2024 occurring in the U.S. However, global funding for FinTech firms fell 46% YoY in H1 2024.

According to the latest FinTech market research by FinTech Global, five out of the ten biggest deals in the sector in H1 2024 were completed by U.S. FinTech companies. The top 10 also included firms from the U.K., India, Singapore, and Australia.

Analysts noted that the U.S. remains a leading hub for FinTech innovations, largely due to its strong startup ecosystem, availability of venture capital, and regulatory support.

In H1 2024, the total FinTech funding amounted to $53 billion. The top 10 deals in the sector totaled ~$4 billion, with nearly $2 billion going to U.S. companies. The two largest deals in 2024, each worth ~$1 billion, involved U.K. FinTech startup Abound and U.S. cybersecurity company Wiz.

The study also showed a 46% drop in global FinTech funding this year compared to H1 2023, when investors poured $98 billion into the sector. Compared to H2 2023, which was $66 billion invested in the sector, the drop is around 20%.

Analysts noted a significant decline in the number of global deals. In H1 2024, there were 2,754 deals, 50% fewer than the 5,449 deals in the same period last year. Meanwhile, H2 2023 saw 4,216 funding rounds, 35% more than in H1 2024.

Moreover, this year witnessed a decline in blockchain startup funding, which only managed to raise $5.74 billion in H1 2024.

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