India's economy holds strong but no thaw in fintechs' funding winter

Funding in first half of this calendar year is at $795 mn, a decline of 11% from second half of 2023

Fintech funding in the first half of calendar year 2024 stood at $795 million, a fall of 11 per cent from the second half of 2023 and a 59 per cent slide from $1.93 billion garnered in the first half of 2023, according to Tracxn Technologies. The decline reflects global trends influenced by a funding winter and geopolitical uncertainties, despite the robust performance of the Indian economy, which grew 8.2 per cent in FY24.

Indian fintechs have faced a funding winter for some time and valuations have changed. This is a global trend, but separately regulatory changes