• New FinTech unicorns announced in July come to a total of three, the lowest amount announced in a month this year, a 75% decrease from June which saw 12 new FinTech unicorn announcements.
• 5ire, a scalable decentralized and sustainable open-source blockchain with smart contract & ESG ranking services, was the highest valued new FinTech unicorn announced in July following their latest Series A funding round led by SRAM & MRAM which raised $100m and brought their valuation to $1.5bn. The funds raised will be used for business expansion and extending 5ire’s footprint across three continents including Asia, North America and Europe, with India as the hub of operations and core area of focus.
• The Marketplace Lending sector accounted for the most new FinTech unicorns in July with two in total. It is likely that the Marketplace Lending sector will increase their number of unicorns in the coming months and years as interest rates globally start to rise. This shift enables banks, brokerages, mortgage companies, and insurance companies to charge more for lending meaning opportunity for disruption.
The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2022 FinTech Global
