While the year began with a modest rebound in startup funding, the momentum hasn’t lasted long. Fintech startups in India raised $1.6 billion in the first nine months of the year, marking a 17% decrease from the same period last year. Data from Tracxn showed that this year’s fintech funding is the lowest in the last six years.

The drop is in line with the broader tech funding scenario, where investments fell 23% year-on-year to $7.7 billion between January and September this year.

Fintech funding rounds witness a decline

The number of fintech funding rounds also fell by 40% to 170 deals this year, with the top deals being a $202 million Series F round raised by IPO-bound discount broking platform Groww, a $170 million round raised by affordable housing finance company Weaver Services, a

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