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Fintech's Q1 M&A rebound

Data: FT Partners; Chart: Axios Visuals
Data: FT Partners; Chart: Axios Visuals

The much-debated Capital One-Discover deal pushed quarterly fintech M&A dealmaking above the $50 billion watermark for the first time since 2021, data from FT Partners shows.

Why it matters: Along with Reddit's IPO, it indicates exit markets are slowly waking back up.

By the numbers: Fintech M&A reached $73.4 billion in the first quarter of 2024, Axios' analysis of FT Partners data shows. It's the highest quarterly figure since the fourth quarter of 2021 — when volume reached $81.5 billion — just as the market was cooling off from the peak of pandemic bullishness.

The fine print: FT Partners also includes a SPAC deal — the $7.3 billion acquisition of Webull by SK Growth Opportunities — as an M&A deal.

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