PitchBook has released the latest Enterprise Fintech report.
PitchBook noted in its report that in terms of deal value and count, during Q3 2024, enterprise fintech companies raised “$3.4 billion in venture capital across 212 deals.”
The PitchBook report also stated that while both deal value and deal count declined by “36% and 38.4%, respectively, from Q2’s $5.4 billion and 344 deals, the average deal size increased from levels seen in both Q2 and Q1.”
Enterprise fintech startups continued to dominate the majority of VC dollars, representing “66.6% of total fintech VC deal value in Q3.”
The PitchBook report also noted that in the year to date, enterprise fintech companies made up “58.5% of total fintech VC deal value.”
Key deals:
The PitchBook research report added that segments with the highest deal value in Q3 were CFO stack, “with $747.1 million; financial services infrastructure, with $720.6 million; and wealthtech, with $604.8 million.”
The PitchBook research report pointed out that notable deals that closed during the quarter included the following: Human Interest’s $267 million Series E made up of debt and equity at a $1.1 billion pre-money valuation, Form3’s $220 million Series C at a $350 million pre-money valuation, Finally’s $200 million Series B of $50 million equity and $150 million debt, and Earned Wealth’s $200 million early-stage round.
Deal sizes:
YTD, enterprise fintech companies logged “a median VC deal size of $5.3 million, up 22.9% from 2023’s median of $4.3 million.”
The PitchBook report further noted that at the stage level, early-stage and late-stage median deal sizes increased “28% and 27.7% to $6.2 million and $10 million, respectively, compared with their 2023 medians.”
The PitchBook report also revealed that conversely, pre-seed/seed and venture-growth median deal sizes “fell 11.6% and 14.7% to $2.5 million and $20 million, respectively, versus their 2023 medians.”
PitchBook has also released its latest Retail Fintech Report. The update highlights key developments in the fast-growing financial technology ecosystem.
Deal value and count: In Q3, PitchBook pointed out in its report that retail fintech VC deal value and deal count both “retreated from Q2 levels.”
