European FinTech Funding Stats November 2023
The latest funding statistics from European FinTech's for November 2023 are in, thanks to my friends at Blackfin Tech.
This article delves into the latest trends and insights from these figures, comparing them with the previous year's data to gauge the sector's trajectory.
Slight Increase in Deal Volume
The European FinTech sector witnessed a modest increase in deal activity with 49 transactions recorded in November 2023, marking a 4% year-over-year (YoY) growth.
This uptick, albeit slight, signals a sustained investor interest in the FinTech landscape, reflecting an optimistic outlook despite broader economic uncertainties.
Decline in Total Fundraising Amount
Despite the increase in deal count, the total fundraising amount dipped to €650.7 million, a decrease of 8% from November 2022's €703.7 million.
Top Ten Deals Gaining Momentum
A noteworthy aspect is the 13% increase in funds raised by the top ten deals, totaling €498.9 million.
This represents a significant portion of the total funds raised, indicating that while investors are more selective, there is a willingness to invest substantial amounts in promising ventures.
Average and Median Deal Sizes Shrink
The average deal amount in November 2023 stood at €14.7 million, a 10% decrease from the previous year. Similarly, the median deal size saw a more pronounced decline of 24%, falling to €5.5 million
Connecting the dots:
November 2023:
- 49 fintech deals (+4% YoY)
- €650.7m total fundraising amount (-8%)
- €498.9m funds raised in the top ten (+13%)
- €14.7m average deal amount (-10%)
- €5.5m median deal amount (-24%)
November 2022:
- 47 fintech deals
- €703.7m total fundraising amount
- €441.6m funds raised in the top ten deals
- €16.4m average deal amount
- €7.2m median deal amount
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