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Payments funding plummets in 2022

December 22, 2022

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This year saw seismic shifts in the payments venture capital world. From 2019 to 2021, as the COVID-19 pandemic fueled rapid change in payments and fintech, “it was a battle to get onto a lot of companies’ radars,” said Commerce Ventures Principal Vivek Krishnamurthy.

In 2022, with higher interest rates, inflation and consumer behavior shifts, “that has changed tremendously,” Krishnamurthy said. Commerce Ventures, which invests in early-stage businesses, has backed payments companies Marqeta, Bill, Paystand and Resolve. The firm’s latest fund is $150 million, and it makes about 30 investments per fund, he said.

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