For the first time in four quarters, the payments category didn’t lead the fintech pack when it came to money raised by startups during the third quarter.
Globally, digital lending garnered the most venture funding in Q3, at $1.7 billion. Payments tied insurtech for second, with each of them tallying $1.1 billion during the third quarter. Besides those subcategories, the fintech group that CB Insights tracks also includes banking, wealth tech and capital markets tech.
During a quiet quarter for payments funding, the U.S. notched its biggest payments funding round share in more than four years, at 45%. Asia and Europe were responsible for 21% and 15%, respectively, CB Insights said.
