VC-backed global fintech financing activity declined for the second straight quarter in Q3, with $2.4B raised across 178 deals, according to The Pulse of Fintech – Q3’16 published by KPMG and CB Insights. But banks are still finding opportunity in the sector.
Citigroup, Banco Santander, and Goldman Sachs — among banks with the largest amount of assets under management — have led the way having completed a number of deals into fintech startups over the last 5 quarters.
Bank fintech investments
Over the past 5 quarters, Citigroup, Banco Santander, and Goldman Sachs or their corporate venture units have each completed seven or more deals to VC-backed fintech companies.
Among Citigroup’s most high-profile investments over the past 5 quarters is participation in deals to BlueVine, Betterment, and FastPay while Banco Santander has invested in fintech companies including Ripple, iZettle, and Kabbage.
Want more data about fintech startups? Log in to CB Insights or sign up for free below.