{"id":650276,"date":"2025-01-21T21:10:22","date_gmt":"2025-01-21T18:10:22","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/funding-to-fintechs-continues-to-decline-but-at-a-slower-pace\/"},"modified":"2025-01-21T21:10:22","modified_gmt":"2025-01-21T18:10:22","slug":"funding-to-fintechs-continues-to-decline-but-at-a-slower-pace","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/funding-to-fintechs-continues-to-decline-but-at-a-slower-pace\/","title":{"rendered":"#Funding to fintechs continues to decline, but at a slower pace"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41aea43a94a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41aea43a94a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/funding-to-fintechs-continues-to-decline-but-at-a-slower-pace\/#The_big_story\" >The big story<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/funding-to-fintechs-continues-to-decline-but-at-a-slower-pace\/#Dollars_and_cents\" >Dollars and cents<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/funding-to-fintechs-continues-to-decline-but-at-a-slower-pace\/#People_moves\" >People moves<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/funding-to-fintechs-continues-to-decline-but-at-a-slower-pace\/#High-interest_headlines\" >High-interest headlines<\/a><\/li><\/ul><\/nav><\/div>\n<div>\n<p id=\"speakable-summary\" class=\"wp-block-paragraph\">Welcome to TechCrunch Fintech!\u00a0<\/p>\n<p class=\"wp-block-paragraph\">This week, we\u2019re looking at just how much fintech startups raised in 2024, a slew of fundraising deals, Plaid\u2019s reported revenue growth last year, and more!<\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<p class=\"has-text-align-center wp-block-paragraph\"><em>To get a roundup of TechCrunch\u2019s biggest and most important fintech stories delivered to your inbox every Tuesday at 8:00 a.m. PT, subscribe here.<\/em><\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<h2 class=\"wp-block-heading\" id=\"h-the-big-story\"><span class=\"ez-toc-section\" id=\"The_big_story\"><\/span>The big story<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"wp-block-paragraph\">Global funding to fintech startups continues to decline. According to <strong>CB Insights<\/strong>\u2019 <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.cbinsights.com\/reports\/CB-Insights_Fintech-Report-2024.pdf?ip_et_ctx=23875269_31_9\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">State of Fintech 2024 Report<\/a>, fintech startups globally raised a combined $33.7 billion in funding last year \u2014 down 20% from the year before. Deal volume also dropped \u2014 by 17% to 3,580. But there are at least a couple of bright spots: The annual decline in funding was fintech\u2019s smallest in three years. Plus, funding rebounded to close the year strong, reaching $8.5 billion in the fourth quarter of 2024 \u2014 up 11% compared to the 2024 third quarter. CB Insights also reported a 33% annual increase in <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>n fintech deal size\u00a0 \u2014 to $4 million.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-dollars-and-cents\"><span class=\"ez-toc-section\" id=\"Dollars_and_cents\"><\/span>Dollars and cents<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"5271\" height=\"3514\" src=\"https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?w=680\" alt=\"LemFi\" class=\"wp-image-2946314\" srcset=\"https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg 5271w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?resize=150,100 150w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?resize=300,200 300w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?resize=768,512 768w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?resize=680,453 680w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?resize=1200,800 1200w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?resize=1280,853 1280w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?resize=430,287 430w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?resize=720,480 720w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?resize=900,600 900w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?resize=800,533 800w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?resize=1536,1024 1536w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?resize=2048,1365 2048w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?resize=668,445 668w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?resize=563,375 563w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?resize=926,617 926w, https:\/\/techcrunch.com\/wp-content\/uploads\/2025\/01\/LemFi_9Oct_002_Original.jpeg?resize=708,472 708w\" sizes=\"auto, (max-width: 5271px) 100vw, 5271px\"\/><figcaption class=\"wp-element-caption\"><span class=\"wp-block-image__credits\"><strong>Image Credits:<\/strong>LemFi<\/span><\/figcaption><\/figure>\n<p class=\"wp-block-paragraph\"><strong>LemFi<\/strong>, a London-based financial services platform designed for immigrants, raised $53 million in new funding, which it will use to fuel efforts to acquire more customers and further expand into more countries.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Recharge<\/strong>, a key European player in online prepaid payments, has secured a \u20ac45 million debt facility with ABN AMRO to look at rolling up the market with a round of M&amp;A, as well as moving into fintech-style services.<\/p>\n<p class=\"wp-block-paragraph\">French startup <strong>Hyperline<\/strong> wants to build the next-generation <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.chargebee.com\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Chargebee<\/a>. It raised an initial \u20ac4 million funding round from Index Ventures back in 2023 ($4.1 million at today\u2019s exchange rate). And Index Ventures is doubling down on this investment as it is investing another $10 million in the startup.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Bench<\/strong>, the accounting startup that imploded over the holidays, filed for bankruptcy in Canada on January 7 revealing massive debts, documents seen by TechCrunch show. The filings \u2014 <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.documentcloud.org\/documents\/25494840-bench-accounting-inc-notice-of-bankruptcy-and-first-meeting-of-creditors-dated-january-9-2025\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">one for Bench<\/a> and another <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.documentcloud.org\/documents\/25494837-10sheet-services-inc-notice-of-bankruptcy-and-first-meeting-of-creditors-dated-january-9-2025\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">for 10Sheet<\/a>, Bench\u2019s original name \u2014 show that Bench had $2.8 million in cash on hand by the end of its life but $65.4 million in liabilities. Charles Rollet does a deep dive here.<\/p>\n<p class=\"wp-block-paragraph\">More fintech IPOs?! Trading platform <strong>eToro<\/strong> has reportedly filed confidentially for a U.S. IPO that could value the company at over $5 billion. Israel-based eToro, which competes with the likes of Robinhood, told TechCrunch it is \u201cnot commenting on IPO rumors.\u201d<\/p>\n<p class=\"wp-block-paragraph\">Amazon has agreed to acquire Indian buy now, pay later startup <strong>Axio<\/strong>, deepening its push into financial services in one of its fastest-growing markets.<\/p>\n<p class=\"wp-block-paragraph\">Ex-SoftBank veteran Akshay Naheta\u2019s Switzerland-based startup, <strong>Distributed Technologies Research (DTR)<\/strong>, is attempting to bridge the gap between traditional banking and blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>, joining an army of companies trying to modernize the global payments infrastructure.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Barclays\u2019 Rise is <\/strong><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/RyanZauk\/status\/1880337587384250594\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">shutting down in 2025<\/a>.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-people-moves\"><span class=\"ez-toc-section\" id=\"People_moves\"><\/span>People moves<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"wp-block-paragraph\"><strong>Synctera<\/strong> has hired its first CFO, <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/matias-pino-943aa97\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Matias Pino<\/a>.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Mark Fiorentino <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/markfiorentino\/status\/1879953305000112528?s=12\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">announced<\/a> he\u2019s left <strong>Index Ventures<\/strong> to join <strong>Bain Capital<\/strong> as \u201cthe newest partner charged with helping to guide the next generation of growth-stage AI-native, vertical SaaS and fintech startups.\u201d<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-high-interest-headlines\"><span class=\"ez-toc-section\" id=\"High-interest_headlines\"><\/span>High-interest headlines<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"wp-block-paragraph\">Last year was a good year for <strong>Plaid<\/strong>. Bloomberg reports that revenue at <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/quote\/4165:JP\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Plaid Inc.<\/a>, which provides infrastructure to connect fintechs and banks,<a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-01-14\/plaid-s-revenue-usage-rates-jump-as-ceo-sees-fintech-spring\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"> spiked by over 25%<\/a> last year.<\/p>\n<p class=\"wp-block-paragraph\">Cryptocurrency-wallet provider <strong>Phantom Technologies<\/strong> <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-01-16\/crypto-wallet-startup-gets-3-billion-valuation-in-sequoia-paradigm-deal\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">raised $150 million in a funding round<\/a> at a $3 billion valuation. Sequoia Capital and Paradigm co-led the round.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Thanks for reading. We\u2019ll see you again next week!<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN63nwsw68G3Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/category\/technology\/\" target=\"_blank\" >Technology<\/a><\/span> category.<\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/techcrunch.com\/2025\/01\/21\/funding-to-fintechs-continues-to-decline-but-at-a-slower-pace\/\" target=\"_blank\" >Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome to TechCrunch Fintech!\u00a0 This week, we\u2019re looking at just how much fintech startups raised in 2024, a slew of fundraising deals, Plaid\u2019s reported revenue growth last year, and more! To get a roundup of TechCrunch\u2019s biggest and most important fintech stories delivered to your inbox every Tuesday at 8:00 a.m. PT, subscribe here. The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":650277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/techcrunch.com\/wp-content\/uploads\/2022\/11\/GettyImages-1078495558.jpg?resize=1200,674","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[76556,125060,74839,153779],"class_list":["post-650276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-fintech","tag-bench","tag-fundraising","tag-techcrunch-fintech"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/650276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=650276"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/650276\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/650277"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=650276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=650276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=650276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}