Fintech funding in India declined by 63% in 2023, reaching a total of $2 billion. Only five rounds surpassed the $100 million mark. The decline is attributed to high borrowing costs and challenging macroeconomic factors. InCred was the only unicorn in 2023.
Funding to fintech and retail sectors decreased 41% and 57% respectively this year compared to the same period in 2021, says ‘Tracxn Geo Annual Report: India Tech 2022’