Download Pulse of Fintech H1'20

VC investment in fintech remains robust as M&A activity stalls.

Download this edition to learn more about:

  • Global and regional analysis with key investment data and insights
  • Top fintech trends for the remainder of H2'20 and beyond
  • Interviews with industry leaders from Google Cloud, InvestHK and Stone & Chalk
  • Fintech segment insights for a deeper dive into payments, insurtech, regtech, wealthtech, cybersecurity and blockchain/cryptocurrency
  • Spotlight articles on key topics in the fintech space such as data analytics, cloud technologies and tax

To learn more about the analysis and topics raised in this edition, or to discuss your organization's unique fintech agenda and roadmap, please contact your local KPMG advisors or the contributors in this publication.


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Global fintech investments (VC, PE and M&A) fell during the first half of 2020, recording US$25.6 billion across 1,221 deals, compared to US$39.4 billion across 1,744 deals in H2’19.

A sharp drop in M&A investments drove most of the decline, reflecting a general slowdown in deal activity, and investors pressing pause to reconsider valuations and their risk appetite amid COVID-19. Many of the H1’20 deals were initiated in late 2019 while new deal activity ground almost to a halt.

Despite global uncertainty, VC investments remained strong; investor interest in platform businesses was also solid particularly in less mature fintech markets.

Key report figures

  • At mid-year 2020, global fintech investment recorded US$25.6 billion across 1,221 deals. The Americas accounted for the largest share US$12.9 billion) followed by ASPAC (US$8.1 billion) and EMEA (US$4.6 billion).
  • Global fintech M&A activity dropped sharply, accounting for US$4 billion in H1’20 compared to US$85.7 billion in H2’19.
  • Fintech VC investment in H1’20 remained robust across the Americas (US$9.3 billion), ASPAC (US$6.7 billion) and EMEA (US$4 billion).
  • Cybersecurity-related fintech investment flew past 2019’s record high of US$592.3 million, reaching US$870.8 million at mid-year 2020.
  • Corporate VC participating investment was particularly strong in the US with a record high quarter of over US$2.4 billion in Q1’20.