Fintech funding reaches $3.49bn in March, up 150%

A report from Medici has revealed that Fintech funding reached $3.49bn in March, up 150% from the $1.4bn month-over-month total funding raised in February.

The total $3.49bn recorded was driven by investments across 137 deals, with $2.01bn (57.5%) of this coming from the US.

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Following the US was the UK with $405.2mn (11.6%), Germany with $252.7mn (7.2%), China with $184.2mn (5.3%) and India with $125.1mn (3.6%).

Key funding rounds for firms during this period include a $500mn investment round from Credit scoring company, Credit Karma; US investment platform, Robinhood, with $350mn; and UK-based Atom Bank that raised $207mn.

According to Medici, the investment platforms sector saw the highest month-over-month growth, up 319% in March. Comparatively, the Payments segment saw the least growth, having experienced a 19% decline in investment compared to February.

Elsewhere, funding into AI and machine learning grew 114%, whilst the security, fraud and authentication sector was up 152% for the month.

For more information and the full infographic, see the full March 2018 Fintech Funding report from Medici.