India’s fintech funding plummets amid global slowdown: Tracxn report

The fintech sector recorded funding of $795 million in 2024, a decline of 11 per cent and 59 per cent compared to $896.7 million raised in H2 of 2023 and $1.93 billion in H1 of 2023, respectively, according to report by market intelligence platform Tracxn.

However, fintech ecosystem achieved a significant milestone in H1 2024, ranking among the top three funded globally alongside the US and UK. Despite this achievement, the sector has faced substantial funding challenges.