Last year, venture capital funding for fintech firms dropped, and as a result, it became more difficult for firms reliant on outside capital to attract new clients and fund operations. The analysis cited data from CB Insights indicating a 46% drop in fintech funding across the board between 2021 and 2022.
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Big Banks Fended Off Fintech Challengers As Rates Rose: Report
Fintech companies’ encroachment into big banking’s market share diminished as interest rates spiked, according to a recent Moody’s Investor Service report. So reports Reuters.
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