A Total of 14 Deals Were Completed During the First Week of 2023, Marking a Slow Start to the Year Compared to Recent Years

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Few FinTech fundraising rounds with the dispersal of investments were reported as the new year got underway in the first week of 2023.

Akulaku, a Southeast Asian banking and digital finance company, received an astonishing $200 million from a Japanese investor in one of the week’s more significant investments.

Given the shift to digital, a new study by Mastercard shows that more than half of UK citizens believe that traditional wallets will lose some of their utility as digital payments continue to expand.

According to FinTech Global research, “French FinTech companies announced 36 deals in Q4 2022, which brought the country’s total to 167 deals.”

“FinTech Investment in the country set new records during 2022, with French companies in Q4 raising $1.49bn, pushing the year’s total to $4.9bn, increasing 44% from 2021 levels.”

Meanwhile, on January 1st, new French FinTech regulations about cryptocurrency took effect. Through its 2022 Finance bill, the nation has established a special tax structure for digital assets.

For those who do not manage their own money, capital gains from crypto assets will be taxed as non-commercial income; nevertheless, trades between “qualifying” crypto assets are tax-neutral for individuals.

Czechia’s FinTech industry experienced inactivity in the third quarter of 2022, with just one agreement being disclosed. Based on the first three months of 2022, $22.8m in FinTech investment is predicted for the country in 2022, a 71% decrease from 2021.

The country’s deal activity has decreased from levels in 2021, according to FinTech Global data. Although a weak third quarter suggests this could be even lower, transaction activity in the country is projected to reach 21 deals in 2022.

It remains to be seen whether this trend will continue throughout the year or if there will be a dip in activity during the second quarter. 

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