London, England — According to news last Tuesday, Financial technology (fintech) funds have reached a notable record of US$5.2 billion in the second quarter.
This is attributed to the rise of 26 ‘unicorn’ fintech startups that are worth US$1 or more, and 5 rookie firms reaching a significant development in the previous quarter.
According to CB Insights, an estimated 251 international deals were made during Q2, which is a noticeable increase from last quarter’s 245 deals. These figures specifically cited fintech companies supported by venture-capital investments.
As for Asia, the deals ramped up from 43 in Q1 to 67 in the last quarter which gathered US$2.7 billion funds. For Africa, Europe, and the Middle East, deals decreased from 78 in Q1 to 56 that raised US$498m last quarter.
To date, the CB Insights stated that four of fintech company unicorns are in Europe, 15 are located in North America, and seven are based in Asia.