Fintech ups and downs in the first quarter of 2024 as funding declines

Acquisitions and market listings in Indian fintech in the first quarter of calendar year 2024 (Q1CY24) slowed down as funding declined. The industry had four acquisitions in Q1CY24 compared to 11 in Q1CY23. The value of acquisitions fell by 90.4 per cent: From $52.1 million in Q1CY23 to $5 million in Q1CY24. The top acquisition in the first quarter was the sale of Difenz, which provides fraud risk management solutions, at $5 million. There were two initial public offerings in Q1CY24 and none the same time last year. Five fintech firms raised $446 million in Q1, according to Tracxn.