Enterprise Fintech Dominates 2024 Q3 VC Deals Despite Overall Decline
November 21, 2024Conversely, pre-seed/seed and venture-growth median deal sizes declined to $2.5 million and $20 million, marking drops of 11.6% and 14.7% compared to their 2023 medians.
Year-to-date, the median venture capital deal size for enterprise fintech companies reached $5.3 million, reflecting a significant 22.9% increase from the previous year's median of $4.3 million.
In the third quarter of 2024, enterprise fintech companies raised $3.4 billion across 212 deals, according to PitchBook's latest report.
In Q3 2024, enterprise fintech startups accounted for an impressive 66.6% of total fintech venture capital deal value, underscoring their dominance in the sector.
Enterprise fintech companies have demonstrated strong performance, representing 58.5% of the total fintech venture capital deal value this year.
Despite a decline in overall deal count and value, the average deal size in Q3 increased compared to the previous two quarters.
Noteworthy deals in Q3 featured Human Interest's $267 million Series E, Form3's $220 million Series C, Finally's $200 million Series B, and Earned Wealth's $200 million early-stage round.
However, this quarter saw a 36% drop in deal value and a 38.4% decrease in deal count compared to Q2 2024, which recorded $5.4 billion across 344 deals.
The segments with the highest deal values in Q3 included the CFO stack at $747.1 million, financial services infrastructure at $720.6 million, and wealthtech at $604.8 million.
Early-stage and late-stage median deal sizes also saw substantial growth, increasing to $6.2 million and $10 million, which represents increases of 28% and 27.7% from their 2023 medians, respectively.
Additionally, PitchBook has released its Retail Fintech Report, which highlights similar trends in retail fintech venture capital deal value and count for the third quarter.
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Crowdfund Insider • Nov 21, 2024
Enterprise Fintech Firms Raised $3.4B In Venture Capital In Q3 2024 - Report | Crowdfund Insider