Fintech flourished in 2021 as our financial lives continued to shift
online, crypto prices soared and entrepreneurial talent and investment dollars flooded the zone. Venture capitalists poured $133 billion into fintech startups worldwide last year, nearly three times the $49 billion they invested in 2020, according to CB Insights.
The result was a gusher of promising new businesses, with half of the 2022 Fintech 50 winners new to the annual list. That’s the most since the inaugural Fintech list in 2015, when all 50 were, by definition, first-timers.
Times have gotten tougher for fintech this year, as consumers have left their homes to shop and concerns around inflation, rising interest rates and Russia’s invasion of Ukraine have spread. Crypto has crashed, publicly traded fintech stocks have fallen 50% and the private markets have been pulling back too, with VCs warning of lower valuations and layoffs hitting everything from payments and buy-now, pay-later companies to crypto trading platforms. Entrepreneurs will need to make do–and innovate–with fewer resources. But many great companies have been built in challenging times.
Read the full story on Forbes: https://www.forbes.com/fintech/2022/#497cc275187e
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