FinTech is an emerging sector in the world of digital technology, and it’s one you’ve likely been a part of in one way or another.
Whether you keep an online savings account, use PayPal or Square to send and receive payments, or just like to stay on top of the latest crowdfunding campaigns, you’ve used a FinTech service to handle and manage your Money.
A mash up of the words “financial” and “technology,” FinTech companies run the gamut from services that help individuals take care of their banking and investing needs, to lending services for both individuals and businesses, to the infrastructure and security behind it all.
And if you want any indication that this is a sector that’s growing by leaps and bounds, just take a look at the money that’s being channelled into FinTech companies. Funding for FinTech exploded in 2015, with $12 billion USD total raised by these companies — 50% more than the $8 billion raised in 2014.
With 2016 poised to meet or exceed 2015’s numbers, it’s an exciting time to be following FinTech.
To give you a better understanding of this sector, have a look at the following infographic done by appcessories.co.uk or check out the full article about the state of FinTech. You’ll learn about the funding, longevity, and geography of the world of FinTech, as well as some of the categories it comprises.
Data and Research by venturescanner.com.
