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🎉India’s fintech funding over 60% to $2 billion 🤑

🤑As the funding winter rages on, India’s fintech sector saw fund inflows decline by 63% in 2023. The sector raised a mere $2 billion for the year – lower than $5.4 billion raised in 2022 and $8.4 billion in 2023, says a report by Tracxn.


In spite of the fall, India ranked third globally in 2023 in terms of fintech startup funding.


Globally, funds have become tight for startups due to rising interest rates, as well as tough and uncertain macroeconomic conditions.


“Despite a 63% decline, the sector stands strong as the third-highest funded ecosystem globally, affirming its position as a hub of innovation.


The implementation of regulatory measures and the government's commitment to digitalization have set the stage for a promising future,” said Neha Singh, co-founder at Tracxn.


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