2022-11-01-CBInsights-金融科技2022年第三季度报告（英）_150页_5mb

State of Fintech: Q3 2022 Summary

Core Content Overview

This document presents the State of Fintech report for Q3 2022, focusing on global dealmaking, funding, and exits in the fintech sector. It highlights key trends, including a decline in funding and M&A activity, the rise of Europe in late-stage deals, and the performance of different fintech sub-sectors.

Key Trends and Statistics

Global Funding and Deals

• Total Fintech Funding: $12.9B in Q3 2022, marking the lowest level since Q4 2020.
• Year-over-Year (YoY) Decline: 64% drop in funding compared to Q3 2021.
• Quarter-over-Quarter (QoQ) Decline: 38% drop in funding compared to Q2 2022.
• Total Deals: 1,160 in Q3 2022, a 26% decline QoQ.
• Mega-Rounds: 19 deals totaling $4.4B, the fewest since Q2 2018.
• US Funding: $5.1B, a 43% QoQ drop, reaching its lowest level since Q1 2020.
• Banking Funding: $1.2B, a 37% QoQ drop and an 86% decline from Q2 2021.
• Australia Funding: $144M, a 40% QoQ increase, the only region to see growth.
• Unicorn Births: 6 new unicorns in Q3 2022, the lowest since Q2 2020.
• Top Valuation: 21.co with a valuation of $2.0B.
• M&A Exits: 155 deals, a 14% QoQ drop, reaching an 8-quarter low.
• SPACs Surpass IPOs: For the first time ever, SPACs (4 deals) outperformed IPOs (2 deals).

Regional Highlights

Funding by Region

• US: Dominates global fintech funding with 454 deals.
• Europe: Holds 24% of late-stage deals, surpassing the US for the first time since Q4 2018.
• Asia: Leads in mega-round funding for the first time.
• Australia: The only region with a QoQ increase in both funding and deal count.

Deal Size Trends

• Average Deal Size: Down 38% from FY 2021.
• Median Deal Size: Flattened in most regions, except Europe and Canada.
• Early-Stage Deals: Account for the majority of deal share in 2022 YTD.

Top Deals by Round

Series A Deals

• DANA: $555M (Indonesia)
• Opto Investments: $145M (United States)
• Carrot General Insurance: $145M (South Korea)
• Safe: $100M (Gibraltar)
• Strike: $80M (United States)
• BITLEVEX: $50M (Estonia)
• Fairmatic: $42M (United States)

Series B Deals

• Tamara: $100M (Saudi Arabia)
• Pigment: $65M (France)
• Solid: $63M (United States)
• Fonoa: $60M (Ireland)
• Valon: $60M (United States)
• Parafin: $60M (United States)
• Balance: $56M (United States)
• Patch: $55M (United States)
• TeamApt: $50M (Nigeria)
• Diagnostic Robotics: $45M (Israel)

Series C Deals

• YuLife: $120M (United Kingdom)
• Fortanix: $90M (United States)
• Zopper: $75M (India)
• Mesh: $60M (United States)
• AccessFintech: $60M (Israel)
• Dot: $58M (India)
• Alloy: $52M (United States)
• stori: $50M (Mexico)
• Truework: $50M (United States)
• Ethic: $50M (United States)

Series D Deals

• wefox: $400M (Germany)
• Pie Insurance: $315M (United States)
• Hibob: $150M (Israel)
• EarlySalary: $110M (India)
• Casavo: $103M (Italy)
• OneCard: $100M (India)
• LendBuzz: $44M (United States)
• 21.co: $25M (United States)
• Planck: $23M (United States)
• Bike Bazaar: $21M (India)

Series E+ Deals

• Toss: $371M (South Korea)
• Coalition: $250M (United States)
• Guesty: $170M (Israel)
• Creditsas: $50M (Brazil)
• ottonova: $34M (Germany)

Top Unicorns in Q3 2022

Top M&A Exits and SPACs

Top M&A Exits in Q3 2022

Top SPACs in Q3 2022

Top Investors

Top Investors by Company Count

Top VCs by Company Count

Top CVCs by Company Count

Conclusion

Q3 2022 marked a significant downturn in global fintech funding and dealmaking, with the sector experiencing its weakest quarter since Q4 2020. The US remained the dominant player in funding and deal volume, despite a notable decline. Europe emerged as a leader in late-stage deals, while Asia led in mega-round funding. Australia was the only region to see an increase in both funding and deals. M&A activity declined, with SPACs surpassing IPOs for the first time. The decline in unicorn births and mega-rounds signaled a shift in investment focus toward early-stage deals. Overall, the fintech sector faced challenges due to economic pressures and reduced investor activity.