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Venture Funding for FinTech Climbs 62% YOY in the United States
FinTech venture funding continues to increase in the US as a collaboration between PricewaterhouseCoopers and the National Venture Capital Association, based upon data from Thomson Reuters, the MoneyTree report is the only industry-endorsed research of its kind. The MoneyTree Report is the definitive source of information on emerging companies that receive financing and the venture capital firms that provide it.
A total of $520 million was invested in financial services startups last quarter, up from $289 million during the last quarter of 2014 and $321 million, in the same quarter last year — a 62% year-over-year increase — By comparison, venture funding overall fell to $13.4 billion last quarter, from $14.9 billion the previous quarter, although 26% higher than in 1Q14.
In all, PwC recorded 16 financial services funding rounds last quarter, compared to 14 during the previous quarter.
Financial services, which has been a hot VC sector over the last couple of years, ranked No. 6 among all sectors receiving venture funding. Software ranked No. 1. Last on the list of sectors was “Business Products and Services,” with but $6 million of venture funding last quarter. Only five of the 17 sectors PwC tracks saw an increase in dollars invested last quarter; financial services was one of them.
A total of 1,020 venture funding deals were completed last quarter in the US
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