Any predictions of Fintech’s demise aside, according to a report by Finovate, the first quarter of 2016 ended on a high note as $458 million in funding went to innovative financial firms. Their number places the Q1 tally at $6.8 billion more than double the comparable period in 2015.
For the last week of the quarter, Finovate stated that 21 companies raised funding. During Q1 334 companies received funding – almost double year prior.
Recently one VC called the Fintech space an investment “mirage”. That’s quite a mirage.