In Q1’16, funding to VC-backed fintech startups bounced back to hit $4.9B after a notable drop in Q4’15 and a large reason why was because of a rebound in $50M+ deals in North America, according to data from the KPMG-CB Insights Pulse of Fintech Report.
Fintech mega-rounds in North America more than doubled on a quarterly basis and included large financings to companies including health insurer Oscar ($400M), robo-advisor Betterment ($100M), payday loan startup LendUp and more. Asia matched the number of $50M+ financings to VC-backed fintech startups on a quarterly basis in Q1’16.
Conversely, Europe drew a blank when it came to $50M+ VC-backed fintech financings in Q1’16 and, as the chart highlights below, has seen significantly less mega-round activity than in North America and Asia over the last five quarters.
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