Of the total investment, $426.6 million was in Q1 and $382.4 million was in Q2.
Although the crypto-asset market suffered a downturn, more than one third of the Canadian fintech deals (29) were in this space with eight in RegTech and five in PropTech.
“The market downturn and ensuing lower tech valuations caused investors to hit the ‘pause button’ over the last few months, but with so much investment flowing into fintech last year, we see it as a re-balancing of expectations, or a sector reset if you will,” says Geoff Rush, National Industry Leader for Financial Services at KPMG in Canada. “We expect fintech to continue to draw interest in the second half of the year, but investors will be more selective about where they deploy capital.”
Global slip
Globally, there was a slight decrease in fintech investment – from $111.2 billion across 3,372 deals in H2’21 to $107.8 billion across 2,980 deals in H1’22.
There was a decline of more than $20 billion across the Americas (to $39.4 billion).
