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.

Source: Reuters


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