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Fintech funding ticks upward in September

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Oct 5, 2023
Data: FT Partners; Chart: Axios Visuals. Note: March 2023 include's Stripe's $6.5 billion raise.

Fintech funding ticked upward in September, nearly matching the amount raised by companies a year earlier, data from FT Partners show.

Why it matters: Part of the pickup is psychological: Investors and founders are coming to terms with a new normal. The other is reason: Time is running out.

Details: Fintech companies raised $4.3 billion in September, compared with $4.4 billion in the same period in 2022 and $3.2 billion in August.

Context: It's been roughly 20 months since the fintech funding slowdown began in earnest, per the data.

  • That's two months longer than the conventional wisdom that startups should have 12-18 months of cash runway.

Of note: Many startups have sought to extend their runways in recent quarters through layoffs and resets.

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