According to the “Pulse of Fintech” report, a quarterly global update on fintech VC trends published jointly by KPMG International and CB Insights last week, VC-backed InsurTech investments hit the $1 billion mark across 47 deals in the first half of 2016. That compares to $2.5 billion of investments in 74 deals for all of 2015, the report says.
Highlighting 2015 as the year that “InsurTech came into its own,” and characterizing the jump to $2.5 billion as a “massive leap” compared to the previous four years, the report notes that InsurTech investment in 2016 so far includes “tremendous activity by many traditional insurers that are increasingly creating their own venture capital funds.”
“While investment in VC-backed fintech companies decreased over the past quarter, we are encouraged by the momentum that is building in underinvested areas such as InsurTech, healthcare, banking and blockchain,” said Anthony Rjeily, KPMG’s Financial Services Digital and Fintech practice leader, in a statement about the report, which tracks investments in all these areas and others.
The report also covers lending tech, payments/billing tech, personal finance/wealth management, money transfer/remittance, institutional/capital markets tech and equity crowdfunding, providing geographic breakdowns in total and by sector, as well as information ranking the most active VC investors in fintech.
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