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India's fintech sector has seen significant growth driven by technology and private investment, offering diverse financial products. Intellect Design Arena focuses on global banking solutions, emphasizing long-term sustainability over short-term gains.
According to the Fintech India report released by data intelligence platform Tracxn, funding during the January-March quarter dried up year on year across stages, with seed stage down 77% to $9.9 million, early stage down 42% to $147 million and late stage falling 60% to $394 million, compared to the previous year.
Despite the industry’s funding woes, some startups–particularly those serving others business—are thriving. Here’s the Forbes Fintech 50 for 2024.
Can the Singapore fintech sector navigate a challenging 2023 funding landscape, characterised by a massive downturn in investment?
Riding on the success of the UK firm Rapyd which raised £235 million, the UK fintech sector continues to be a leader in fintech funding despite a decrease in the number of deals secured in 2023 by