Quarterly (Q1) Fintech Market Report

DATE: April 2024
 

We are pleased to present our Q1 2024 Fintech Report, providing an overview of the latest developments in the Fintech industry.

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In public markets, the overall equity market accelerated its growth in Q1 2024, with the S&P 500 and NASDAQ rising 11% and 9%, respectively. The RPP Fintech Index continued its rally in Q1 2024, adding another 4% to its December 2023 value. This sustained growth highlights the continued strength and expansion of the fintech sector.

 

In the financing space, the first quarter of 2024 experienced a downturn in activity. The deal count dropped from 276 in Q4 2023 to 248, and the total capital deployed decreased significantly to $7.8 billion, compared to $14.1 billion in Q4 2023. Notable deals include Monzo's $430 million capital injection, Svatantra's $230 million fundraise, and SK Finance's $160 million fundraise, which attracted the spotlight as the largest deals this quarter.

 

In the M&A space, 240 deals were announced this quarter for a total disclosed value of $62.6 billion. This quarter's activity spotlight belongs to Capital One's agreement to acquire Discover for $35.3 billion, SK Growth Opportunities' $7.3 billion acquisition of Webull, and Advent International's buyout of Nuvei for $6.3 billion.

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