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December fintech VC roundup: VCs continue their love affair with payments

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December fintech VC roundup: VCs continue their love affair with payments

by  Tom Matsuda
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Quick Takes
  • Investors poured $11.5 billion into the fintech sector globally in December, with 24 megarounds of over $100 million.
  • Like November, VCs splashed the cash on payments fintechs primarily — $2.2 billion went into the subsector in December.
It’s safe to say that last year was a landmark year for fintech startups seeking VC dosh. By the end of the year, $124.7 billion was raised over more than 4,000 rounds, according to Dealroom.

Whilst for many December is a month of rest, fintech didn’t take a break. In December, fintech startups raised $11.5 billion — the same amount raised in November.

Excluding Better.com’s pre-SPAC financing, the big raise rounding off last month was NYDIG’s $1billion round led by Westcap. In second place, Monzo’s monster $500 million round led by Abu Dhabi Growth Fund also raised eyebrows. Previously, in its annual results, Monzo’s accountants had cited concern about its ability to continue as a company.

Although lending and banking won some of the biggest rounds, it was payments once again that triumphed over other sub-sectors with $2.2 billion going to payments firms.

For those looking to dive a little deeper into what fintech VCs were up to in the festive season, below is a roundup of the five biggest raises across five categories of wealthtech, banking, lending, payments and financial management. 

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The price of the cryptocurrency slid to $39,650, the lowest level seen since September 21, according to data gleaned from TradingView. Per Coinbase, bitcoin has since clawed back some of that decline, and as of the time of writing is changing hands at roughly $40,730. 
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