- April 14, 2024
- Posted by: legaleseblogger
- Category: Related News
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Decline in Acquisitions and Market Listings in Indian Fintech Industry
Acquisitions and market listings in the Indian fintech sector during the first quarter of the calendar year 2024 (Q1CY24) experienced a significant slowdown as funding decreased. In comparison to the previous year, the industry saw a decrease in the number of acquisitions, with only four taking place in Q1CY24 as opposed to 11 in Q1CY23. Additionally, the total value of acquisitions plummeted by 90.4%, dropping from $52.1 million in Q1CY23 to just $5 million in Q1CY24. The most notable acquisition during this period was the sale of Difenz, a provider of fraud risk management solutions, for $5 million.
This decline in activity was reflected in the market listings as well, with only two initial public offerings occurring in Q1CY24 compared to none during the same period the previous year. Despite these challenges, there were five fintech firms that managed to raise a total of $446 million in Q1CY24, according to data from Tracxn.
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