Funding to Indian fintech rises 66%, number of rounds decline by 25%

After a prolonged funding winter, the Indian fintech ecosystem is showing signs of recovery, with the sector recording a 66 per cent year-on-year growth in funding to $778 million in the third quarter of calendar year 2024 (Q3CY24).

The sector raised $471 million in Q3CY23, according to data from market intelligence platform Tracxn.

On a quarter-on-quarter basis, funding to the fintech sector more than doubled from $293 million in Q2CY24.