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Fintech deals double to $1.17 bn during Jan-Jun despite slowdown: Report

The first quarter of 2020 saw fund inflows jumping fivefold and the same in the second quarter added 50 per cent more

Many fintechs are in talks with banks to deepen their partnerships; or merge to become part of the former’s digital platforms with talks being initiated by PEs
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The whole of 2019 saw fund inflows through these routes scaling to USD 2.75 billion, up from USD 1.92 billion in 2018 and USD 2.55 billion in 2017.

Press Trust of India Mumbai

In spite of massive disruptions to economic activities across the globe, the domestic fintech space was overactive in the first half of 2020 with the deal value more than doubling to USD 1.7 billion across 70 deals from USD 726.6 million in the year-ago period, according to a report.

Total investments by venture capital funds, private equity players and also mergers and acquisitions by large corporates in the domestic fintech space saw USD 1,052.4 million worth of deals closing in the first quarter of 2020 across 38 transactions, the report by KPMG International said.

It added that the deals, however, dipped to