Australia's fintech deal activity slumps anew in Q2

Only 12 transactions were recorded compared to 18 in Q1.

Australian fintech deal activities fell for the third straight quarter in Q2, with the country on track to record its worst deal activity since 2016, according to a FinTech Global report.

Only 12 transactions were recorded in Q2 compared to 18 in Q1. The number of transactions in the first half of the year was 25% lower than the same period in 2019.

On the other hand, funding in Q2 reached a five-quarter high on the back of two separate deals by SME challenger bank Judo Bank. In one deal, the bank raised $500m with the help of the government to provide loans to small businesses.

Australian neobanks comprised the top five fintech deals in the country, collectively raising a total of $944m or 94.1% of investments in H1 2020.

Total capital invested by fintechs grew at a CAGR of 75.1% from $215.3m in 2016 to over $1.1b in end-2019.

Also Read

Atome Financial clinches $200m facility for SEA expansion plans

WealthTech Endowus breaks US$7b mark in assets under advice

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit