You are here: Home » Companies » Start-ups » News
Railways freight revenue estimate for FY24 may go up to Rs 2 trillion
icon-arrow-left
Business Standard

Indian fintech start-up funding fell 47% in 2022, says Tracxn report

Growth in the space was expected to continue in the long run, propelled by a large unbanked population

Topics
Fintech start-ups | funding | Indian FinTech

Aryaman Gupta 



photo
Fintech start-ups recorded 13 funding rounds of over $100 million in value

in India raised a total of $5.65 billion in 390 rounds in 2022, a decline of 47 per cent in terms of amount and 29 per cent in the number of rounds, compared with 2021, according to a report by Tracxn, a market intelligence platform. The drop in funding, the report says, can be attributed to the decline in late-stage from $8.3 billion in 2021 to $3.7 billion in 2022, a 56 per cent fall.

recorded 13 rounds of over $100 million in value, a 50 per cent decline from 26 rounds in 2021. Further, only four such start-ups received unicorn status in 2022, compared with 13 in 2021. Yet, India received the third-highest amount of funding in the fintech sector, behind only the US and the UK.

Growth in the space was expected to continue in the long run, propelled by a large unbanked population and rising mobile phone usage, the report added.

Chart


Chart


Chart


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Sun, January 22 2023. 18:52 IST

RECOMMENDED FOR YOU

.