News Digest: KPMG says global fintech investments fell 30% in 2022
February 28, 2023
News Digest:
Investments across the fintech sector, including its various arms such as insurtech saw 30% drop during 2022. According to KPMG’s annual Pulse of FinTech report, the cooling off came on top of 2021’s record high levels of $238.9 billion.
In 2022, the global fintech investment totalled $164.1 billion with the number of deals also falling to 6006 in 2022 from a high of 7,321 in 2021. The report noted that in spite of the drop in these numbers, it proved to be the third best year for fintech investments and second best for dealmaking in its short history.
Takeaway:
The United States continues to account for the largest share, attracting over $60 billion across 2,022 deals in 2022 while across the Americas as a whole investment dipped to $68.6 billion from $108.9 billion in 2021. These findings are consistent with reports of insurtech funding halving in 2022, per data from Gallagher Re.