Venture investments into fintechs headquartered in North America dipped to $24.39 billion in 2022, a decline of 34% from the year prior, according to S&P Global Market Intelligence’s recently released Global Fintech Funding Trends report.
After a promising start to the year, funding began a precipitous decline in Q3 as interest rates and macroeconomic concerns increased in unison. Investments plummeted from $18.02 billion in H1 to $6.37 billion in H2. Notably, the number of fintech funding rounds in North America increased in 2022, rising by 5%. But following the funding trend, the number of rounds sank by roughly a third in the second half compared to H1.
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