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Fintech's biggest deals in the first quarter

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Apr 18, 2023
Data: CBInsights; Chart: Axios Visuals
Data: CBInsights; Chart: Axios Visuals

Fintech investing saw a boom in mega-rounds during the first quarter, data from CBInsights' Tuesday report on the industry show.

Driving the news: Mega-rounds, those over $100 million, rose to 62% of the funding total in the first quarter, compared with 34% in the prior quarter.

  • That drove overall fintech funding higher compared with the prior quarter.

Between the lines: Stripe's enormous $6.5 billion round of funding skewed the numbers significantly.

  • According to CBInsights data, investors poured the most money ($8.1 billion) into payments in the last quarter.
  • Take Stripe out of the equation, and wealth tech companies were the most popular sector ($1.8 billion), followed by insurtech ($1.4 billion) and digital lending ($1.3 billion).
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