Funding slump continues as fintech startups raise $1.6 bn

WHILE THE YEAR began with a modest rebound in startup funding, the momentum hasn't lasted long.

- FE BUREAU

Fintech startups in India raised $1.6 billion in the first nine months of the year, marking a 17% decrease from the same period last year. Data from Tracxn showed that this year's fintech funding is the lowest in the last six years.

The drop is in line with the broader tech funding scenario, where investments fell 23% year-on-year to $7.7 billion between January and September this year.