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A column chart that illustrates annual fintech M&A volume from 2019 to 2024. The volume peaked at 345.4 billion in 2021, followed by a decline to 102.7 billion in 2023. A slight recovery is projected for 2024, with current volumes of 149.8 billion as of August.

Fintech M&A volume

Data: FT Partners; Note: 2024 data is YTD; Chart: Axios Visuals

The dollar value of 2024 fintech tie-ups has already topped last year's total amid a surge in mega-deals, data from FT Partners shows.

Why it matters: It marks a reversal following consecutive years of declines.

By the numbers: Some $149.8 billion worth of fintech M&A deals have been announced through August 2024, compared with $102.7 billion for all of 2023, per FT Partners.

TowerBrook Capital Partners and CD&R notably brokered an $8.9 billion deal in August, agreeing to take R1 RCM (Nasdaq RCM) private.

And 2024 volumes remain on track to surpass 2023 levels, even if Capital One's $35.3 billion deal to buy Discover falls apart.

Between the lines: Though fintech M&A transaction volume has already dwarfed 2023 levels, the number of deals has not yet caught up — though it may be on track to top that figure by year-end.

That means the average deal size has grown to $169.4 million for the first eight months of 2024 from $91.4 million in 2023.

Zoom out: Beyond fintech, M&A activity has been bolstered in part by broader macro trends and is expected to surpass 2023 levels — though probably to a more modest extent.

That comes as private equity buyers have returned to the market, and companies have grown more confident about interest rate levels.

2024 Fintech M&A value has already beaten 2023

Between the lines: mega-deals are driving the boon.

Fintech

The dollar value of 2024 fintech tie-ups has already topped last year&#x27;s total amid a surge in mega-deals, data from FT Partners shows.Why it matters: It <a class="gtmContentClick" data-vars-link-text="marks" data-vars-click-url="https://www.axios.com/pro/fintech-deals/2024/04/01/fintech-funding-2024-q1-rebound" data-vars-content-id="eec6e2af-6618-4ce7-b69b-6cab22ab8728" data-vars-headline="2024 Fintech M&amp;A value has already beaten 2023" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/fintech-deals/2024/04/01/fintech-funding-2024-q1-rebound" target="_self">marks</a> a reversal following consecutive years of declines.

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2024 Fintech M&A value has already beaten 2023

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