Fintech startups in India raise $5.65 bn in 2022, 47% drop from 2021

Fintech startups in India raised $5.65 billion in 390 rounds last year, a massive drop of 47 per cent in terms of funding amount and 29 per cent in the number of rounds when compared with 2021, a report showed on Thursday.

This drop in funding can be attributed to the decline in late-stage funding from $8.3 billion in 2021 to $3.7 billion in 2022, a drop of 56 per cent, according to data provided by global software-as-a-service (SaaS)-based market intelligence platform Tracxn.

Fintech startups recorded 13 funding rounds of $100 million+ in value. This is a massive drop of 50 per cent, from 26 rounds in 2021.