Funding For VC-Backed Fintech Soars To $5B In Q1

By Joyce Hanson (May 25, 2016, 8:35 PM EDT) -- Financial technology companies netted $4.9 billion in first-quarter global investments, marking a huge jump from the previous quarter's $1.9 billion and bucking a broader pullback in venture capital-backed investment this year, though struggling public markets could dampen enthusiasm, according to a new report.

Global investment in private fintech firms totaled $5.7 billion in the first quarter, with $4.9 billion of that amount specifically invested in VC-backed fintech companies in 218 deals, a 96 percent jump over the same quarter a year ago, according to "Pulse of Fintech," a quarterly global report on fintech VC trends released Wednesday by accounting firm KPMG...

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