Indian Fintech Startup Funding surges 59% in Q1CY2024: Tracxn reporti.According to Tracxn Geo Quarterly Report by market intelligence platform Tracxn, in first quarter (Q1) of Calendar Year (CY) 2024 (Q1CY2024), Indian fintech startups raised USD 550.8 million across 33 deals, marking a 59% increase from Q4 2023’s USD 346.7 million raised in 53 deals.
ii.Despite this surge, funding declined on a year-on-year (Y-o-Y) basis by 57% compared to Q12023’s USD 1.3 billion.
iii.India ranked 3rd globally in fintech funding, behind the United States (US) and China.
iv.Bengaluru, Karnataka topped the fintech funding in Q1 2024, followed by Mumbai, Maharashtra and Hyderabad, Telangana showcasing their importance as fintech hubs.
About Tracxn:
Chairperson and Managing Director– Neha Singh
Headquarters– Bengaluru, Karnataka