Fintech startups in India are expected to raise $5.65 billion in 2022, down 47% from 2021
A report on Thursday indicated that last year, Indian fintech startups raised $5.65 billion in 390 rounds, a significant decrease of 47% in terms of funding amount and 29% in the number of rounds when compared to the previous year.
Fintech startups recorded a significant decrease of 50% in funding rounds of $100 million or more in value, with only 13 such rounds recorded in 2022, compared to 26 rounds in 2021.
According to the report, only four startups in India’s fintech sector reached unicorn status in 2022, a significant decrease compared to the 13 new unicorns in 2021.