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Indian fintech sector sees 59% drop in funding in H1 2024, remains among top three globally

Economic Times · 11m

Funding in the Indian fintech sector dropped by 59% in the first half of 2024, reaching $795 million compared to $1.9 billion in the same period in 2023. However, India remains among the top three funded fintech ecosystems globally, after the United States and the United Kingdom. Alternative lending received the most funding, with $646 million, followed by regulatory tech with $118 million, and banking tech with $115 million. Tracxn's report also highlighted the decline in acquisitions and the number of fintech companies going public.