Waters Wrap: Fintech funding—follow the money
As funding for startups and young companies dries up due to inflation and rising interest rates, Anthony looks at some of the vendors that have received monetary infusions this year to see if there are any patterns to be gleaned.
All good times eventually end—it’s a lesson that fintech startups are currently learning.
According to technology intelligence firm CB Insights, fintech businesses raised $20.4 billion in Q2 2022—a 33% drop on Q1 and the lowest quarterly amount since Q4 2020, the height of Covid’s second wave in the US. A big reason for the drop, as explained in this article we published recently, is due to rising inflation and interest rates. (SPAC activity has also fallen off a cliff, according to the Wall
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