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Last Updated on December 2, 2024 Fintech, short for “financial technology,” is transforming financial services.
Fintech is a flourishing industry that has brought about innovations like AI-driven banking solutions and digital wallets to blockchain integration in the finance world.
As the industry grows, more players are entering the fintech space, driving innovation, new trends, profitability, and competition.
This page brings together data highlighting fintech’s impact on financial services and how it continues to reshape the economic landscape.
Fintech Companies In Different Regions
As of January 2024, the Americas (North, Central, South America, and the Caribbean) led the global fintech landscape, with 13,100 fintech companies.
This represents an increase of around 1,500 from the previous year.
By comparison, the EMEA region (Europe, the Middle East, and Africa) had 10,969 fintechs, while the Asia Pacific region accounted for 5,886 fintechs.
The dominance of the Americas highlights the region’s role as a global fintech hub, driven by innovation and investment, especially in the United States.
Fintech Assets Under Management
Fintech Assets Under Management (AUM) refers to the total market value of assets managed by fintech companies, including digital banks, wealth management platforms, robo-advisors, and other financial technology services.
These stats provide insight into fintech’s growing influence in the global financial ecosystem. Here are some key highlights:
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Global Fintech AUM: As of 2023, global fintech AUM surpassed $2 trillion, driven by the rapid adoption of digital financial services and innovations in automated investment strategies.
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Robo-advisors: Robo-advisors are a significant contributor to fintech AUM, with projections showing they will manage over $1.4 trillion by 2025. These automated platforms are viral for their low fees and ease of use.
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Digital Wealth Management Platforms: Fintech wealth management services have grown substantially, with platforms like Betterment and Wealthfront managing billions in assets. These platforms collectively manage over $400 billion in AUM in the U.S. alone.
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Crypto Fintech: Fintechs offering crypto investment services rapidly increase their AUM, with platforms like Coinbase and Binance Custody seeing billions in customer assets under their management.
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Year-on-Year Growth: The fintech industry’s AUM has been growing at an average rate of 15-20% annually, spurred by advancements in AI, blockchain, and mobile technologies that make financial services more accessible.
Revenue Of Fintech Industry
From 2017 to 2023, the global fintech industry has shown consistent growth. In 2023, it generated approximately $79.38 billion in revenue.
Experts project this figure will surpass $141.18 billion by 2028, signaling rapid expansion and increasing adoption of financial technology.
This upward trend highlights fintech’s central role in reshaping the financial landscape globally.
| Year | Revenue Generated |
| 2017 | $1.59 billion |
| 2018 | $2.55 billion |
| 2019 | $2.51 billion |
| 2020 | $10.26 billion |
| 2021 | $50.1 billion |
| 2022 | $39.76 billion |
| 2023 | $79.38 billion |
| 2024 | $103.75 billion |
| 2025 | $120.29 billion |
| 2026 | $129.7 billion |
| 2027 | $136.54 billion |
| 2028 | $141.18 billion |
Transaction Value of Fintech Segments
In 2020, digital payments led the fintech sector with the highest transaction value, totaling around $6.7 billion. Personal finance followed closely, recording $2.7 billion in transaction value.
The alternative lending segment came in third with $390.6 million, while alternative financing ranked fourth with $20 million in transactions.
Fintech Industry Market Share
According to 2023 reports, the global fintech industry was valued at $297.74 billion.
It’s projected to reach $340.10 billion by 2024 and surge to $1.15 trillion by 2032, growing at a compound annual growth rate (CAGR) of 16.5% from 2024 to 2032.
Fintech Worldwide Investment Statistics
Investment in the fintech sector surged from 2010 to 2019, peaking at $216.8 billion in 2019.
However, in 2020, investments dipped to $124 billion, reflecting the impact of global uncertainties. The sector bounced back in 2021, with funding surpassing $229 billion.
By 2023, investment saw a slight decline, with global funding totaling $118.2 billion.
The overall trend suggests that while fintech remains a high-growth area, it is sensitive to broader economic conditions and market fluctuations.
| Year | Investment |
| 2019 | $216.8 billion |
| 2020 | $124 billion |
| 2021 | $229 billion |
| 2022 | – |
| 2023 | $118.2 billion |
Fintech Startups Concentration
According to the data, the United States had the highest number of fintech startups in 2023, with 11,651. The EMEA region (Middle East and Africa) had 1,977 fintech startups, and the APAC region (Asia-Pacific) had 5,061.
This stark difference highlights the U.S.’s dominant position in the global fintech landscape, driven by a robust financial ecosystem and access to venture capital.
Meanwhile, the MEA and APAC regions are emerging players, reflecting growing fintech innovation in developing markets.
| Year | America | EMEA | APAC |
| 2023 | 11,651 | 9,681 | 5,061 |
| 2021 | 10,755 | 9,323 | 6,268 |
| 2020 | 8,775 | 7,385 | 4,765 |
| 2018 | 5,779 | 3,583 | 2,849 |
| 2019 | 5,686 | 3,581 | 2,864 |
Fintech Investment Figures In Major Hubs
In the first half of 2023, the United States secured $12.16 billion in investments, a 28% drop compared to the same period in 2022. The decline was even steeper year-over-year, plunging by 83%.
Other major fintech hubs like India and Singapore also saw declines, with investments falling by 27% and 43%, respectively. However, Germany and China bucked the trend, managing to post funding growth of 21% and a remarkable 461%.
Fintech Investment By Region
Global fintech funding took a significant hit in 2023, particularly in Europe, the Middle East, and America, where investments plummeted by 75%, falling to $4.28 billion.
In contrast, the Asia Pacific region saw a smaller decline, with fintech investments dropping by 19%. North America was the largest region, bringing in $12.36 billion, though that’s a 30% drop compared to last year.
Meanwhile, Latin America struggled, missing the $1 billion mark and seeing fintech investments plunge 85% year-over-year to just $514 million.
Fintech Venture Capital Funding
Since 2016, the fintech industry has received nearly $480 billion in venture capital funding while generating over $1.1 trillion in exit value.
Fintech startups are valued at $3.7 trillion, with two-thirds still tied to private companies.
In Q3 2023, fintech startups raised $6 billion globally in venture capital, marking the lowest funding level since 2017 and nearly half of what was raised in the same period last year.
This sharp decline reflects a cooling investor sentiment in the fintech sector amid market uncertainties.
Investments In Fintech Sub-Industries
The fintech space consists of several sub-industries, each attracting significant investments in 2023.
Here’s a breakdown of the investment distribution across these sub-industries, highlighting the growing interest in various financial technology sectors.
| Fintech Sub-Industries | Investment Amount |
| Payments | $11.4 billion |
| Financial Management Solutions | $4.1 billion |
| Wealth Management | $3.7 billion |
| Insurance | $3.5 billion |
| Mortgages and Lending | $2.6 billion |
| Crypto & DeFi | $2.4 billion |
| Banking | $2.1 billion |
| Regtech | $0.6 billion |
Fintech Unicorn Creation Statistics
At its peak, 40 fintech unicorns were created in a single quarter. However, by Q3 2023, that number dropped to just five new unicorns.
| Quarter – Year | Unicorns Created |
| Q1 2020 | 8 |
| Q2 2020 | 5 |
| Q3 2020 | 25 |
| Q4 2020 | 15 |
| Q1 2021 | 44 |
| Q2 2021 | 59 |
| Q3 2021 | 54 |
| Q4 2021 | 43 |
| Q1 2022 | 42 |
| Q2 2022 | 27 |
| Q3 2022 | 9 |
| Q4 2022 | 5 |
| Q1 2023 | 4 |
| Q2 2023 | 2 |
| Q3 2023 | 5 |
Fintech Monthly Investment Trends
Data from August 2024 shows that the fintech sector secured $21.6 billion in investments. In June and July 2024, fintech companies raised $18.5 billion and $20.4 billion, respectively.
This upward trend reflects growing confidence in fintech, with investment consistently rising monthly.
| Month – Year | Investment Amount |
| August 2024 | $21.6 billion |
| July 2024 | $20.4 billion |
| June 2024 | $18.5 billion |
| May 2024 | $15.3 billion |
| April 2024 | $13.5 billion |
| March 2024 | $8.8 billion |
| February 2024 | $4.7 billion |
| January 2024 | $2.7 billion |
Fintech Adoption Statistics
As of 2023, China and India lead the world in fintech adoption, with both countries showing an impressive 87% adoption rate among their populations.
In contrast, the global average fintech adoption rate is 64%. Additionally, India ranks third in digital payments, following only the United States and China.
All these data indicate India and China’s significant role in driving global fintech growth, with their large populations embracing digital financial services at unprecedented levels.
Countries with the highest fintech adoption rate –
- China – 87%
- India – 87%
- South Africa – 82%
- Columbia – 76%
- Peru – 75%
Fintech Blockchain Figures
Fintech and blockchain are closely intertwined, with blockchain emerging as a powerful technology for transforming the financial system.
In 2023, the fintech blockchain market was valued at $3.17 billion, and it’s projected to soar to $21.67 billion by 2028.
AI In Fintech
AI is rapidly transforming the finance industry, with reports suggesting it could boost the financial services market by 34%.
AI leads the fintech sector, making up 77.5% of global revenue. By 2023,
AI in fintech is expected to be valued at $42.83 billion, and it’s projected to grow to $49.43 billion by 2028, with an annual growth rate of 2.91% over that period.
Impact Of COVID-19 on Fintech Space
The COVID-19 pandemic significantly accelerated fintech adoption, leading to a higher concentration of digital payments.
Mobile transactions surged by 54% after the pandemic hit, while mobile banking agents grew by 19.56%, and mobile banking accounts increased by 14.56% during the same period.
Post-pandemic, digital payments dominated, capturing the largest share of transaction value.
Digital payments comprised 63% of all retail-facing fintechs, while digital lending followed, accounting for 20% of transaction values.
Top Fintech Companies
As of January 2024, Visa and Mastercard lead the fintech world, valued at roughly $520 billion and $396 billion, respectively.
Both companies are headquartered in the United States. Intuit, also U.S.-based, holds third place with a $173.51 billion valuation, followed by China’s Tencent at $146 billion.
| Companies | Market Cap |
| Visa | $520 billion |
| Mastercard | $396 billion |
| Intuit | $169.01 billion |
| Tencent | $146.06 billion |
| Finserv | $79.87 billion |
| Ant Financial | $78.5 billion |
| Paypal | $66.26 billion |
| Stripe | $50 billion |
| Square | $44.35 billion |
| Nubank | $41.5 billion |
Fintech Global Merger & Acquisition Statistics
In 2023, there were approximately 612 merger and acquisition (M&A) deals in the fintech industry, totaling $56.4 billion.
While this number reflects significant activity, it decreased from 2022, when 867 deals were made, amounting to $98.2 billion.
In 2021, fintech M&A deals peaked with 1,076 deals, but the total value was slightly lower at $90.8 billion compared to 2022. This suggests that while the volume of deals was higher in 2021, the average deal size was more significant in 2022.
Fintech Global Private Equity Growth Graph
Private equity in fintech experienced its highest growth in 2021, with 148 deals totaling $13.9 billion. In 2023, the total value of private equity deals in fintech reached $11.0 billion, with 116 deals recorded.
While the deal value and number of transactions have dipped compared to 2021, the sector remains a crucial area of interest for investors, reflecting continued confidence in fintech’s long-term potential.
| Year | Deal Value | Deal Count |
| 2020 | $3.5 billion | 123 |
| 2021 | $13.9 billion | 148 |
| 2022 | $9.6 billion | 156 |
| 2023 | $11.0 billion | 116 |
More Fintech Statistics
- Global investment in ESG-focused fintech hit $2.3 billion in 2023. (Source – assets.kpmg.com)
- Nearly 48% of financial institutions have fully integrated fintech into their core business strategy. (Source – siegemedia.com)
- Partnerships between banks and fintech companies in the U.S. saw a 13% increase between 2020 and 2021. (Source – siegemedia.com)
- Fintech fundraising in India nearly doubled in 2019, reaching $3.7 billion, while Singapore saw even more significant growth, climbing to $861 million. (Source – siegemedia.com)
- A whopping 94% of financial services executives think that fintech will enhance customer experience and drive revenue growth in the future. (Source – siegemedia.com)
- Young people have a significantly higher trust in fintech companies than in traditional banks. Among those aged 18 to 24, 51% trust fintech, while 49% of those aged 25 to 34 feel the same. In contrast, only 39% of the younger and 42% of the older groups trust banks. (Source – siegemedia.com)
- In 2022, a remarkable 97% of millennials reported using mobile banking. (Source – siegemedia.com)
