Fintech funding hits $11b in Q2 as average deal-sizes hit two-year high

Mega rounds surged to its highest in three years.

Financial technology (fintech) funding reached $11b globally across 390 funding rounds in Q2 2025, according to data from S&P Global Market Intelligence.

This marked the first time that fintech funding surpassed $10b in a quarter since what S&P called “the start of the venture capital downturn” in Q3 2022.

Average deal sizes hit a two-year high of $28.2m, according to S&P. Mega rounds surged to 23 deals, the highest in three-years.

Meanwhile, deal volumes continued to decline during the quarter, falling by 13% from the 450 deals in Q2 2024, and flat compared to the 393 deals in 2025. This meant that investors remained selective and focused on high-quality startups, S&P said.

The rise in funding despite lower deal volumes signifies that investor appetite for high-quality opportunities grew and that there is renewed confidence in growth-to-mature-stage fintechs, S&P said.

“Cross-border payments continued to attract capital, driven by ongoing demand for infrastructure that solves fragmentation in global money movement and investor interest in niche, tech-enabled corridors,” the report said.

At the early stage, the themes are more experimental but focused, S&P said: Funding rounds led by startups specializing in agentic payments, QR-based fleet systems and bitcoin-native insurance show that infrastructure remains a fertile area for innovation.