Data Snacks, Member Exclusive
2020 was the year of the mega-deal for fintech VC
- 2020 saw a record number of firms raise investment rounds over $100 million.
- Firms like Chime, AvidXchange, Klarna, and Robinhood demonstrated investor appetite for mature fintech companies.
As mature fintech companies like Affirm are preparing to hit the public markets in 2021, venture capital firms were busy behind the scenes making big investments.
2020 set a record for the number of large investment rounds in fintech, according to research from CB Insights. And that's as overall investment in fintech dipped slightly from last year.
97 firms raised single rounds of over $100 million last year, including companies like Chime, AvidXchange, Klarna, and Robinhood. That was 5 more mega deals than 2019.
For some of these firms, these mega rounds will be the last money they raise on private markets before they IPO. There's a hungry investor appetite for mature fintech firms.