Report Touts Florida’s Vibrant VC Scene: $2.1 Billion for 332 Deals During H1 2024. Fintech Sector Most Active

Florida, and the Miami region specifically, has emerged as a fast-growing startup/entrepreneur ecosystem. The warm weather (minus the occasional hurricane), combined with a business-friendly state government and no state income taxes, has helped shift activity from elsewhere to the Sunshine State. Some big firms have migrated their HQs south to take advantage of the supportive environment.

A recent report distributed by eMerge Americas adds up the numbers for Florida, sharing that nationally, Florida ranked No. 5 for deal count and No. 7 for deal value out of all 50 states.

During the first six months of 2024, Fintech remained the most active sector, with $408 million invested across 47 deals, while Medtech garnered second, securing $378 million, surpassing the full-year 2023 total.

The report predicts that if the pace of VC activity continues Florida will experience its 3rd strongest year in deal count and should top 2023s deal value.

Startups in the South Florida area took the bulk of the activity, with 65% of Florida’s total VC dollars and 60% of the state’s deals. The Miam metro area is the 10th most active VC market by dollar value.

Of course, California and the Northeast (Greater NYC region, Boston, etc.) continue to be strongholds of risk capital.  California hoovered up over $40 billion in VC funding for 2017 deals in H1 2024.

The report states:

“In the 2024 global ranking by Startup Genome and the Global Entrepreneurship Network covering about 300 entrepreneurial ecosystems, Miami rose 7 places in one year to 16th in the world. The metro area was judged on factors such as market reach, knowledge, talent, funding and exits, and the market’s international connectedness was particularly lauded. “Miami, even though its not a top three US ecosystem, it seems like there’s a strategy to make it one of the more globally connected ones,” says Forrest Wright, research assessment lead for Startup Genome. “It’s clearly paying off.””

Notable Fintech deals in 2024 include Lens Protocol, which raised $50 million; Securitize, which raised $47 million; DownPayments, which raised $32.8 million; FundKite, which raised $25.85 million; and Payabli, which raised $20 million.

In the first half of 2024, early-stage Fintech firms raised $408 million across 47 deals in Florida. All but 5 of those 47 deals were headquartered in Miami or Miami Beach. eMerge Americas released the report in advance of their March 2025 event being held in Miami.

In the first half of 2024, early-stage Fintech firms raised $408 million across 47 deals in Florida. All but 5 of those 47 deals were headquartered in Miami or Miami Beach Click to Tweet


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