Indian fintech funding third highest globally in 2024 despite continuous YoY decline: Report

The Indian fintech ecosystem was ranked third globally in funding received in 2024, trailing only the US and the UK despite a 33 per cent decline in the amount invested or deal value and a 29 per cent fall in total funding rounds or deal volume compared to 2023. According to the data shared by market intelligence firm Tracxn, fintech investments dropped to $1.9 billion in 2024 from $2.8 billion in 2023 and $5.6 billion in 2022, largely owing to a broader switch in investors’ sentiment towards a healthy bottomline in emerging technology businesses, the overall slowdown in demand globally, and other geopolitical headwinds.