The news: Global funding for payments startups fell 49% last year, signaling a more cautious approach by investors amid high levels of economic uncertainty.
The funding picture: Here’s what CB Insights’ State of Fintech 2022 report found.
The big takeaways:
The bottom line: The latest figures highlight the harsher funding climate for payment providers, mirroring a wider trend affecting other sectors. Given the unpredictable economic outlook, this will likely continue for the short term.
Payment firms, particularly later-stage companies, must work harder to secure investment. They might be better off cutting costs and scaling back expansion plans until the funding climate improves.
This article originally appeared in Insider Intelligence's Payments Innovation Briefing—a daily recap of top stories reshaping the payments industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.