According to the report, the fintech industry is doing quite well, having shown resilience and growth in the first few months of the year.

Despite the fact that there were 248 fintech financing deals during the quarter, their combined value decreased from $14.1 billion in Q4 2023 to $7.8 billion, indicating that investors are still cautious given the persistent inflation and geopolitical unrest.

Deal value for insurtech stocks surged 61% on a quarter-over-quarter basis, significantly surpassing other verticals such as payments (+5%) and capital markets/wealth management tech (+4%).

About 25% of all funding rounds in Q1 were devoted to cryptocurrency, although huge rounds for companies like Monzo ($430 million), Svatantra ($230 million), and SK Finance ($160 million) also attracted a lot of capital to the banking and lending sectors.

There were 240 M&A deals, with the $35.3 billion deal between Capital One and Discover being the largest. This brought the total deal value for financing and M&A to $70 billion.