Indian FinTech startups raise $1.2 billion in first quarter of 2023: report

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FinTech startups in the country attracted investments worth $1.2 billion in during the first quarter of 2023, 55% lower than $2.6 billion raised in the first quarter of 2022..

However, this is a sharp jump of 126% when compared with $523 million raised in the fourth quarter of 2022, according to details provided by Tracxn, a SaaS-based market intelligence platform...

Tracxn, in its Geo Quarterly FinTech India Report - Q1 2023, said that in the FinTech space India is the second-highest funded geography after the U.S. in Q1 2023, and occupies a spot in the top five geographies in terms of total funding activities..

The sector recorded late-stage investments of $977 million in the first three months of 2023, a spike of 325% when compared to Q4 2022 but a drop of 44% from Q1 2022..

Among Indian cities, FinTech companies in Bengaluru takes the lead, raising $796 million in the first quarter of 2023..

Full story at The Hindu | 

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