One of the trends highlighted by the report is that more non-financial companies are integrating financial products into their services — for example, many merchants who previously accepted cash or credit cards are now accepting digital wallets as methods of payments.
The coronavirus pandemic, which has so far infected more than 18 million worldwide, has led to more people doing their day-to-day shopping online and that has provided a boost to e-commerce growth. In turn, that trend became a "tailwind" for fintech companies, the report added.Mega-rounds, where companies raise more than $100 million in investments, reached 28 — a new quarterly high — as the largest firms in the space raised additional money.
Worldwide fintech deal activity declined from 452 deals in the first quarter to 397 in the second, according to the report. That was in line with a trend which began in the fourth quarter of last year before the coronavirus pandemic hit.While fintech start-ups in North America, South America, Europe, Africa and Australia all saw an increase in funding from the previous three months, companies in Asia saw their capital raise fall around 37% from $2.56 billion in the first quarter to $1.
The report also said that a number of fintech companies have either gone public or filed for initial public offerings, which may indicate the start of a shift in the sector's fundraising trends. For example, U.S. online insurance company
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