In Q1’16, fintech funding rebounded to hit $4.9B across 218 deals. And within the fintech investing landscape, a host of the largest banks by assets under management are becoming increasingly active in investing in VC-backed fintech startups.
Over the past five quarters, Goldman Sachs, Citigroup and Banco Santander or their corporate venture units, have each completed 7+ deals to VC-backed fintech companies. Mitsubishi UFJ Financial Group led Asian banks with three deals over the period.
The fintech bets by major banks have been diverse. Goldman Sachs, for example, has invested in startups ranging from Asian financial product comparison platform CompareAsia, to payments app Circle Internet Financial, to commercial real estate investment startup Cadre, and Canadian point-of-sale startup Financeit.
Looking for more fintech investing? Sign up for the CB Insights Venture Capital Database.If you aren’t already a client, sign up for a free trial to learn more about our platform.