Home topics news Image credit: Canva (Prathan Chorruangsak) News News Australian fintech funding takes a hit in H2’22, reports KPMG Yajush Gupta February 23, 2023 According to KPMG’s bi-annual report, Pulse of Fintech H2’22, the volume of Australian fintech investment deals dropped from a historical high of 187 in 2021 to 123 in 2022. Although a record investment of US$30.2 billion was tracked for the year, a significant amount of US$27.9 billion was attributed to the Afterpay acquisition by Block. If this transaction was excluded, fintech investment would have fallen from US$3.01 billion in 2021 to US$2.2 billion in 2022. Global fintech investment across M&A, PE, and VC saw a decline from its record high of US$238.9 billion in 2021 to US$164.1 billion in 2022, according to the bi-annual report Pulse of Fintech H2’22 by KPMG. Despite the significant drop, 2022 still marked the third-best year for fintech investment and the second strongest year for deal volume. The decline was more pronounced in the year’s second half, dropping from US$119.2 billion to US$44.9 billion as market conditions continued to shift. Notable deals included the acquisition of Australia-based Afterpay by Block, VC raises for Germany-based Trade Republic and UK-based Checkout.com, and a PE deal for US-based Genesis Digital Assets. In 2022, Australian fintech investment reached a historic high of US$30.2 billion, primarily due to Block’s US$27.9 billion acquisition of Afterpay. However, excluding this deal, fintech investment declined from US$3.01 billion in 2021 to US$2.2 billion in 2022, with deal volume dropping