Fundamentals strong for global fintech

Funding for the sector hit a three-year low last year but revenues improved

Global fintech funding in 2023 stood at a three-year low at $42 billion, down 50 per cent and 71 per over the two previous calendar years, according to a Boston Consulting Group report. For the same period, revenue multiples have come off their 2021 high at 20 times and were at a sobering four times in 2023. The silver lining is that revenues in this timeframe have moved up: To $320 billion, up 12 per cent and 30 per cent, according to the ‘Global Fintech 2024’ report.

It said that the challenges are part of a short-term