Global Fintech Market: Investment, Deals and Exits in 2025

KPMG's Pulse of Fintech is a twice-yearly review of fintech investment based on PitchBook data. It counts venture capital (VC), private equity (PE) and M&A deal value [1].

After three years of decline, global fintech investment rose to USD 116 billion in 2025, from USD 95.5 billion in 2024 [1]. That is an increase of about 21.5% (FREEE.REPORT calculation). Deal volume kept falling, to 4,719 deals, an eight-year low [1].

In the previous edition, KPMG reported that global fintech investment fell from USD 119.8 billion across 5,382 deals in 2023 to USD 95.6 billion across 4,639 deals in 2024, the lowest level since 2017 [2]. The later H2'25 edition shows 2024 at USD 95.5 billion, reflecting data revisions [1].

In 2024, investment fell from USD 51.7 billion in H1 to USD 43.9 billion in H2 [2]. In 2025, USD 56.3 billion was deployed in H2 alone [1].

• VC investment climbed to USD 56.7 billion in 2025 [1].
• Global M&A deal value rose to USD 55.4 billion, led by the United States (USD 27.5 billion) and EMEA (USD 11 billion) [1].
• Investment in digital assets startups rose from USD 11.2 billion in 2024 to USD 19.1 billion in 2025 [1]. KPMG links this to more regulatory clarity, including the US GENIUS Act in H2'25 [1].
• Payments investment was USD 19.2 billion in 2025, compared with USD 20.4 billion in 2024, across 542 deals, a nine-year low in deal count [1].

The Americas attracted USD 66.5 billion in 2025, up from USD 55.4 billion in 2024, while deal volume fell from 2,627 to 2,409 [1]. The United States accounted for USD 56.6 billion, up from USD 42.4 billion [1]. Canada fell from a record USD 9.9 billion to USD 2.4 billion, while Brazil rose from USD 847.4 million to USD 1.9 billion [1].

EMEA investment rose from USD 26.5 billion to USD 29.2 billion [1]. The UK remained the largest EMEA market at USD 10.96 billion, down from USD 13.35 billion, and the Nordics drew USD 5.3 billion [1]. France fell to USD 1 billion and Germany reached USD 966 million [1].

Asia-Pacific fell from USD 11.7 billion across 1,028 deals to USD 9.3 billion across 763 deals [1]. India led the region with USD 3.5 billion across 213 deals [1].

Exit activity surged in 2025, reaching USD 104.4 billion across 486 exits, behind only 2021 and 2020 [1]. VC-backed exits made up USD 79.7 billion of that value, driven largely by public listings [1].

KPMG describes sentiment for 2026 as cautiously optimistic, with risks from geopolitical tensions, possible economic slowdowns and scrutiny of AI valuations [1].

All figures are from KPMG International's Pulse of Fintech press releases for H2'24 (published February 2025) and H2'25 (published 11 February 2026), which use PitchBook data [1][2]. Values are in USD and cover total fintech investment including VC, PE and M&A. Figures for 2024 differ slightly between editions (USD 95.6 billion vs USD 95.5 billion) because of data revisions; the latest edition is used where both exist, and the 2023 value comes from the earlier edition. The 21.5% growth rate is a FREEE.REPORT calculation: 116 / 95.5 - 1.