【FT Partners】2025年度金融科技年鉴报告

FTPartnersFinTechStrategicInsightsFebruary2026GlobalFinancingandM&AStatisticsThisreportisaproductofFTPartners’InvestmentBankingteam,whichisaseparateanddistinctbusinessfromFTPartnersEquityResearch.Forprofessional/institutionaluseonly. 2OverviewofFTPartnersFTpartnersmaintainsthemostcomprehensiveproprietarydatabaseof37,000+Financings 3FTPartners’ProprietaryFinTechDataFinancings-M&A-FinTechsectors7primarysectors("FMS"),&7)crypto&BlockchainDatacollection 4TableofContents57.Appendixi.publishedTransactionprofiles.......................................................................ii.86iii.overviewofFTpartners...............................................................................109FTPartnersFinTechStrategicInsightsFinTechAlmanac|Financing&M&AStatisticsTotalDealActivityvolumeHitsecondHighestLevelEverin2025,onlyBehind2021TotalDealActivityvolumeHitsecondHighestLevelEverin2025,onlyBehind202120252025$3345,44339%Y-o-YY-o-Y$703,68033%Y-o-YY-o-Y$2511,73737%Y-o-Y20%Y-o-Y$1326194%Y-o-Y136%Y-o-YMorecapital,FewerDealsasLater-stageFundingReboundscryptoDrawstheHighestLevelofstrategicInvestorInterestThreeFinTechsectorsBreakoutwith50%+YOYFundingGrowthMiddleEastFinTechFundingvolumeDoubledasusAclimbs1.7×TheLong-AaitedRe-emergenceofIPOSDeliveredMlixedResultsASPAccomebackFocusedonDigitalAssetTreasuriesFTPartnersFinTechStrategicInsightsFinTechAlmanac|Financing&M&AStatistics2025HighlightsvolumeoftotalFinTechtransactionactivityacrossalldealtypesprivatecompanyfinancings,M&AandIPOSin2025surpassedthevolumesofthelastthreeyearsreachingsecondlevelever,particularlydrivenbyincreasesinM&A.2025Highlights(cont.)privatecompanyfinancingvolumerosemoderatelyin2025risingabovetheprior2025Highlights(cont.)LargestIPOS2025Highlights(cont.)Early-stageventurefundingvolumeroseonlyslightlyyoyasdealcountdeclinedmoresignificantly.TheaverageroundsizeforbothseedandseriesAincreasedin2025·In2025…271253139135113$2,602$2,639$1,512$1,070$915$962$5882%2%2%55%3%1%2%4%2025Highlights(cont.)Midtolater-stageventurefundingvolumerose35%yoyinin2025.TheFinancialManagementsolutionssectorwasparticularlyactive,andmajorityofdealswereforNorthAmericanheadquarteredcompanies.201720182019202020212022202320242025In2025…Banking/LendingTech10244$6,477$2,795$4,293$3,295$1,393$1,3304%54%66%2025Highlights(cont.)overthelasttwoyears,monthlyfinancingvolumesteadilyincreased,whiledealcountclearlydeclined.2025Highlights(cont.)2016201720182019202020212022202320242025$9billionvantiv.worldpay$10billion$27billionworldpay$43billion$45billionII$16billionGTCRworldpay$19billionDISC.VER$35billionworldpay$24billion$33billionmarkik$6billion$6billion$7billion$16billion/naplan$11billionr$11billionKKRC。TIVITI$11billion$14billionMSKESSON'netsvalara圓simcorp冷R1$5billion$5billion$7billion$13billion$8billion$5billion$9billion$12billion2025Highlights(cont.)2025wasthemostactiveyeareverforFinTechM&Abynumberofdeals.2025Highlights(cont.)ofotherstrategicbuyers,whichhasalsobeenonther2025FinTechtoFinTechDeals2025Highlights(cont.)Largemmscalestrategicdealsaswellasprivateequitybuyouts,includingmanytakemakeupmajorityoftheannouncedtotalvolumeinrecentyearsandhistorically.(founded2004orlater)FTPartnersFinTechStrategicInsightsFinTechAlmanac|Financing&M&AStatisticsFinTechFinancingStatisticsFinancingdealcountreachedasimilarleveltothoseofthelastfouryears,thoughthenumberdeclinedfromFinTechFinancingStatistics(cont.)2021wasarecordyearforlarge,$100million+capitalraises.post-2021,dealsizetrendeddownresultinginnearly50%offundingroundsbeinglessthan$5millionin2024.2025recordedincreaseddealsizes,withaveragedealsizesurpassing$20million.$0-<5million$5-<25million$25-<100million$100+million2020202020212022202020202021202220232024202538%39%17%7%31%35%21%13%35%40%18%7%47%37%12%4%50%36%11%3%40%41%15%5%FinTechFinancingStatistics(cont.)#of$50mm+FinancingsMovingAverageTrendline(every13weeks)302520151050202020212022202320242025FinTechFinancingStatistics(cont.)Thenumberof$100million+financingroundshassteadilytickedupsincethelowin2023,hitting129in2025,thoughthisisstillfarbelowtheleveloflargecapitalraisesannouncedin2021and2022.FinTechFinancingStatistics(cont.)AverageFinancingRoundSize($inmm)24FinTechFinancingStatistics(cont.)25SelectedLargeFinTechFinancingTransactionsin2025–USA&Canada05/20/25GrowthBaincapitalspecialsituations;FidelityManagement&Researchcompany;ApolloGlobal$2,100InsurTech10/07/25strategicwealth&cap.MarketsTechNewyork,NY,USA12/02/25kalshiseriesEsequoiacapital;AndreessenHorowitz;Anthoscapital;NeoInnovation;capitalG;paradigm;wealth&cap.MarketsTechNewyork,NY,USA07/10/25GrowthT.Roweprice;surgocappartners;statestreet;T.Roweprice;UBS;BNYMellonwealth&cap.MarketsTechNewyork,NY,USA09/26/25Late-stagevccrypto&BlockchainsanFrancisco,CA,USA04/03/25BlackROCK;NEA;FranklinTempletonventures;FidelityManagement&ResearchcomBanking/sanFrancisco,CA,USA10/27/25GrowthDragoneerInvestmentGroup;GovernmentofsingaporeInvestmentcorporation;cppInvestments;Greylockpartners;ICONIQGrowth;Meritepowercorp.ofcanada538wealth&cap.MarketsTechToronto,ON,canada7/30/25seriesEICONIQcapital;GIC;FoundersFund;coatueManagement;AvenirGrowthcapital;D1500Newyork,NY,USA10/17/25seriesAThrivecapital;Greenoakscapital;sequoiacapital;Ribbitcapital;SVAngel500crypto&BlockchainsanFrancisco,CA,USA11/05/25Late-stagevcFortressInvestmentGroup;BrevanHoward;citadelsecurities;Marshallwace;pantera500crypto&BlockchainsanFrancisco,CA,USA11/06/25seriesDLionTreeAdvisors;JPMorganchaseBank,NationalAssociation;BDT&MSD;EldridgeIndustries;slowventures;softBankvisionFund;TeknecapitalManagement;vistacreditpartners;DFJGrowth500santaMoniica,CA,USA11/11/25kvalaraGrowthBlackROCK500Durham,NC,USA05/09/25YRIPPLINGseriesGsandscapitalManagement;weststreetcapitalpartners;BaillieGifford;ycombinator;450sanFrancisco,CA,USA04/30/25多ycEquity,Debt,&TokenizedAssetsales350crypto&BlockchainMenlopark,CA,USA12/22/25350Banking/Newyork,NY,USASelectedLargeFinTechFinancingTransactionsin2025–USA&Canada(cont.)02/04/25deel.secondaryGeneralcatalyst;MubadalaInvestmentcompany;undisclosedInvestors$300sanFrancisco,CA,USA03/26/25MERCURYseriesccoatueManagement;sequoiacapital;sparkcapital;MarathonManagementpartners;CRV;AndreessenHorowitz300sanFrancisco,CA,USA04/29/25strategicMastercard300Atlanta,GA,USA07/22/25Growth30010/10/25seriesDAndreessenHorowitz;sequoiacapital;paradigm;coinbaseventures;Generalcatalyst;sparkcapital;capitalG300wealth&cap.MarketsTechNewyork,NY,USA10/15/25nGrowth300RealEstateTech10/16/25deel.seriesE300sanFrancisco,CA,USA11/17/25Late-stagevcLightspeed;FoundersFund;D1capital;coatueManagement;GIC;AvenirGrowthcapital;Thrivecapital;sutterHillventures;T.Roweprice;khoslaventures;ICONIQGrowth;Glade300Newyork,NY,USA09/23/25seriesFwellingtonManagement;Generalcatalyst;GenerationInvestmentManagement;GoldmansachsAssetManagement;9yardscapital;BcapitalGroup;Edisonpartners;primeHealth252HealthcareFinTechNewyork,NY,USA07/10/25Growth250Newyork,NY,USA08/20/25seriesEAndreessenHorowitz;Bessemerventurepartners;sapphireventures;Navitascapital250RealEstateTechNewyork,NY,USA12/17/25半tebraGrowth;DebtHildredcapitalpartners;Tobacapital;Transformationcapitalpartners;HLMventure250HealthcareFinTechIrvine,CA,USA07/29/25seriescoakHC/FT;AndreessenHorowitz;kleinerperkins;optumventures;Fristcresseyventures;smashcapital;openAlstartupFund;Georgianpartners;TownHallventures;Founders243HealthcareFinTechsanFrancisco,CA,USA04/01/25Growth235Newyork,NY,USA05/13/25seriesG230wealth&cap.MarketsTechNewyork,NY,USASelectedLargeFinTechFinancingTransactionsin2025–Europe12/17/25secondaryofsingaporeInvestmentcorporation$1,411wealth&cap.MarketsTech11/12/25GrowthLacaisse;CPPInvestments;GenerationInvestmentManagement;Motivepartners;Abrdn;Aviva;FirstcapeGroup;Ninetyone;NucleusFinancial650wealth&cap.MarketsTechunitedkingdom03/14/25RapydGrowth;Debt500unitedkingdom04/05/25Growth500wealth&cap.MarketsTechunitedkingdom01/02/25Growth47610/23/25Growth;strategicBankofAmerica;Barclays;BNpparibas;citigroup;DeutscheBank;HSBCUK;JPMorganchase&co;Morganstanley;NomuraHoldings;societeGeneraleGroup;UBS227wealth&cap.MarketsTechunitedkingdom01/28/25seriesEAtomico;Noteuspartners;EQTGrowth;kinnevik;Generalcatalyst;sequoiacapital;05/28/25Growthunitedkingdom11/13/25DebtBanking/unitedkingdom03/O5/25、、tseriesFBritishpatientcapital;Teachers'ventureGrowthunitedkingdom06/03/25Growthsofina;Noteuspartners;Baldertoncapital;TencentInvestment;Hvcapitalwealth&cap.MarketsTech11/16/25Atlanticvantagepoint;Dawncapital;smashcapitalDenmark07/21/25seriesBunitedkingdom09/03/25Growthwinklevosscapital;Nakamoto;UTXOManagement;offThechaincapital;M1capital;crypto&Blockchain二03/24/25levelLate-stagevc;Debt136unitedkingdomSelectedLargeFinTechFinancingTransactionsin2025–Europe(cont.)09/23/25seriescBancosantander;Barclays;BNpparibas;DTCC;Euroclear;Goldmansachs;I$136crypto&Blockchainunitedkingdom07/02/25Growth13506/23/25seriesc133二09/22/25strategicTPGRise;ApaxDigitalGrowthunitedkingdom10/28/25unitedkingdom07/01/25seriesBcrypto&Blockchainunitedkingdom07/07/25Growth;DebtInInsurTechswitzerland04/07/25Late-stagevccapitalG;DSTGlobal;Meritechcapitalpartners;sequoiacapitalFrance09/16/25seriesc01/16/25seriesBBlockstreamcrypto&Blockchainunitedkingdom02/24/25seriesABreegacapital;212ventures;speedinvest;Daphni;Endeavorcatalyst;Evolutionvc;plusventurecapitalBanking/unitedkingdom09/04/25Growthunitedkingdom10/02/25Banking/unitedkingdom01/14/25Growthcrypto&Blockchainswitzerland07/23/25seriesAGV;20vc;capnamicventures;stride.vcRealEstateTechSelectedLargeFinTechFinancingTransactionsin2025–RestofWorld03/12/25Late-stagevcMGX$2,000crypto&Blockchain10/30/25secondary600India09/09/25Growth525RealEstateTechunitedArabEmirates12/08/25seriesG33005/21/25seriesFsquarepegcapital;DSTGlobal;Lonepinecapital;AirTreeventures;salesforceventures;30009/08/25Growth290InsurTech03/24/25GrowthPSG280Australia10/17/25koraManagement;Moorestrategicventures;Televisaunivision250BankinglMexico12/16/25Growth220wealth&cap.MarketsTechHongkong04/24/25seed218HealthcareFinTechIndia06/05/25seriesFGovernmentofsingaporeInvestmentcorporation;ICONIQcapital202wealth&cap.MarketsTechIndia11/07/25pinelabsNomuraHoldings;stateBankofIndia;MassachusettsInstituteofTechnology;HSBCHoldingsplc;ICICIPrudentialLifeInsurTech;TataMut197India07/23/25strategic176uzbekistan07/01/25seriescMourocapital;Televisa;Bancosantander;prosusventures;Quonacapital;International170BankinglMexico08/19/25Growth170BankinglIndiaSelectedLargeFinTechFinancingTransactionsin2025–RestofWorld(cont.)02/12/25seriesEBanking/03/11/25seriesABankinglMexico09/11/25seriesDpartnersGroup08/25/25GrowthBankinglIndia04/28/25seriesD15003/05/25Growth140India03/03/25DiferentTechnologies134BankinglMexico09/15/25seriesBNoufventures;QEDInvestors;khwarizmiventures;Raedventures;wamdacapital;Impact46;MiddleEastventurepartners;lsometrycapital;Arzanventurecapital13010/31/25seriesBGeneralAtlantic;Elev8venturepartners;kaecapital;prudentInvestmentManagers;125BankinglIndia10/06/25seriesBwealth&cap.MarketsTechIndia03/27/25strategicBanking/India08/26/25Growthpeakxvpartners;TrustInvestmentAdvisors;pharmaventuresInternational;undisclosedwealth&cap.MarketsTechIndia04/09/25stage;Debt12/01/25seriesGAndorraBancAgricolReigBankingl12/16/25seriesBGoodwatercapital;panteracapital;Blockchaincapital;circleventures;HSG;undisclosedcrypto&BlockchainHongkongFlat-ratesMBpayments1,7501,500cryptofuturestradingplaFlat-ratesMBpayments1,7501,500cryptofuturestradingpla1,5001,2751,250$5,000 Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4'22'22'22'22'23'23'23'23'24'24'24'24'25'25'25'2532Revolut$75,00040,00032,00020,00017,300TRADEREPUBLIC⃞kalshiCAirwallexvcalthsimple5,0004,3503,3003,1003,0002,4492,0001,200SeriesAtoBGraduationRatesonaverage,thetimebetweenFinTechcompaniesraisingtheirseriesAandBfundingroundshaslengthenedsince2022,reachingapeakof28monthsin2024and2025.Meanwhile,themediandeclinedslightlyin2025.AnoticeableshorteninginseriesAtoBtimingcanbeseenduringtheBasedonyearofseriesBraiseMedianMonths252322222222201720182019202020212022202320242025SelectedSeriesBRoundsin2025SelectedSeriesBRoundsin2025companyawardco$16543$585size($inmm)#ofMonthssincecompanyawardco$16543$585xelix$160$134$107$90$82$80$80$78$7533PrivateCompanyValuationByStage$462$47234FinTechFinancingActivityBySelectedRegion–DollarVolume$inbillionsUSA&canada$8.8$2.5$3.0$2.5$2.5$2.0$2.1$1.6$2.52019202020212022202320242025MliddleEast$2.8$2.3$2.8$2.3$1.4$0.4$1.6$1.8$0.82019202120202023202220252024201920212020202320222025$1.7$2.2$1.7$1.2$0.9$0.5$0.3$1.2$0.9$0.5$0.3201920202022202320242025202120192020202220232024202535MostActiveCountriesByNumberofFinancingsin2025DollarvolumeDollarvolume%ofTotalDollarvolumeDollarvolume%ofTotalcountryYoy%changeYoy%changeselectedLargestRoundsRaisedin202573%56%kalshi73%56%kalshiRapydUK336(9%)9%$5,618(18%)8%Rapyd.Growwsingapore117(47%)3%$1,9086%3%singapore117(47%)3%$1,9086%3%199%4%RegnologyTRADEREPUBLIC⃞Germany88199%4%RegnologyTRADEREPUBLIC⃞51%2%canada85(11%)2%$1,27251%2%canada85(11%)2%$1,272omieecreditasCCLARAFrance80恩(7%)2%$861pennyFrance80恩(7%)2%$861HUSPY"fresdxUAE79(11%)2%$1,161HUSPY"fresdxJapan48(16%)1%148%1%$86844Hongkong148%1%$86844HongkongSectorBreakdowns:FinancingActivityManagement田·$·Financialsolutions$$wealth&capitalMarketsTechcrypto&BlockchainpaymentsInsurTechHealthcareFinTechRealEstateTech37 FinancingActivitySectorHighlights–FinancingActivitySectorHighlights843778735778598555YoYdecrease598472486YoYdecrease2025stats$24nnillion%oftotalFinTechvolume%oftotalFinTechvolumedealcountKMlostActivecountries(#ofDealsin2025)24 FinancingActivitySectorHighlights(cont.)–FinancingActivitySectorHighlights(cont.)469(15)%YoYdecrease423(15)%YoYdecrease42336132424926224924%YoYincrease2025stats$30nnillion%oftotalFinTechvolume%oftotalFinTechvolumedealcountMlostActivecountries(#ofDealsin2025)30283028ll9l9 FinancingActivity–SectorHighlights(cont.)$$(4)%YoYdecrease529549YoYdecrease52945642033325384%YoYincrease84%YoYincrease2025stats$26nnillion%oftotalFinTechvolume%oftotalFinTechvolumedealcountMlostActivecountries(#ofDealsin2025)3939239 FinancingActivity–SectorHighlights(cont.)1,125(21)%889YoYdecrease866889YoYdecrease707617YoYincrease1831852025stats$11nnillion%oftotalFinTechvolume%oftotalFinTechvolumedealcountMlostActivecountries(#ofDealsin2025)35335348482624262422ll15l15 FinancingActivity–SectorHighlights(cont.)田·$·(1)%YoYdecrease674669(1)%YoYdecrease67459355554435830845%YoYincrease2025stats$25million%oftotalFinTechvolume%oftotalFinTechvolumedealcountMlostActivecountries(#ofDealsin2025)33332828II12I1231342 FinancingActivity–SectorHighlights(cont.)385293247246262247246YoYincrease242YoYincrease209YoYincrease2025stats$19nnillion%oftotalFinTechvolume%oftotalFinTechvolumedealcountMlostActivecountries(#ofDealsin2025)2525767655II5I543 FinancingActivity–SectorHighlights(cont.)232232YoYflat162128129127128103YoYincrease2025stats$24nnillion%oftotalFinTechvolume%oftotalFinTechvolumedealcountMlostActivecountries(#ofDealsin2025)554332222244 FinancingActivity–SectorHighlights(cont.)264233240233(25)%YoYdecrease175154154154134(2)%YoYdecrease2025stats4%4%%oftotalFinTechvolume5%5%dealcount$20nnillionAverageFinancingAmountMlostActivecountries(#ofDealsin2025)99887Japan76666l57745 LargestFinancingsin2025BySub-Sector$575FinancialData$575FinancialDataconnectivityplatformcloudNativeDigitalBankingBanking-as-a-service(Baas)Loan&DepositoriginationLendingandmorecloudNativeBankingsoftwareMethodEmbeddedcredit&paymentsprogrammableFinanceoperatingsystemforLendingplatformTech-DrivenFinancingsolutionsforAffordableHousinginIndiaconsumerFinanceandcreditplatform150Co-Brandedcreditcards136125Al-BasedworkingcapitalplatformforsMESLT$410a)DigitalBankingandcreditproviderofBankingservicestocryptoclientsinMexicoandTechnologycompanyvemiNeobankforsMBsinLATAMsingaporeplatformcreditcardBankingRewardsplatforminuzbekistanLargestFinancingsin2025BySub-Sector(cont.)$525UAEBased$525UAEBasedRealEstatesearchplatform300HOAManagementsoftware250paymentsmonthly250AIsolutionsforHousingprovidersenkrakaHome-EquityBackedcreditFintechLuxuryHomeco-ownershipplatformEquitypreservingHomecashsolutionHUSPY"onlineplatformFacilitatingMortgagespropertyManagementplatformEgyptHomeEquityInvestmentplatform$630'cross-Borderpaymentsandsuper-APP500Al300cross-Borderpayments250Rent&Mortgage235心stordomnichannelFulfillmentandE-commercesoftwareIndianpaymentsandposforsMBSDigitalpaymentsplatformforSMBS$2,0001,200andTradingplatformFinanciallnfrastructure&350EnterpriseBitcoinMiningandcolocationservices2181)cryptoBasedLendingcrypto-to-FiatEverydaypaymentssolution150147Euro-DenominatedBitcoin136DLTwholesalesettlementincentralBankMoney104EmbeddedcryptoandLargestFinancingsin2025BySub-Sector(cont.)$1,150a)$1,150a)日icapital820forwealthManagersvcalthsimple538ADDEPAR230Data-DrivenTechsolutionsforwealthManagement200InvestinglDirectMutualFundInvestmentplatforminIndia175platform152DigitalcustodialplatformforAdvisorsworkplaceRetirementBenefitsplatform146IndianTech-LedFinancialsoftwareTurkey'SDigitalBrokerageandemivalue-AlignedInvestmentsolutionscreditMarketplaceBezEroGlobalcarbonRatingsAgency同TREEFERAsupplychainTransparencysolutionD三XT三RTradingoptimizationESGDataManagement&ESGFocusedInfrastructureforDatacentersandBitcoinMinineGreenFfsustainableBankingplatform$2,136a)predictionMarketplatform1,485a)predictionMarketplatform227clearing,settlement,andRisk130connectedsoftware&FundManagementservicesDallas-Basedu.s.stockExchangeplatformstructuredproducts&capital55AplsplatformTaxcreditandclimatefinanceLargestFinancingsin2025BySub-Sector(cont.)ramp山$1,150a)Financialoperations/spendramp山$1,150a)Financialoperations/spendManagementdeel.payroll,compliance,andHRkvalaraTaxcompliancesoftware450300SMBBanking&Financialopsplatform200corporateTravelManagementplatformHRManagementsoftwareawardcoEmployeeRecognitionandRewardsplatformAl-poweredAccountspayableAutomation$252unifiedpharmacy&MedicalBenefitsAdministration250EHR&practiceManagemsoftware243AIPlatformcliniciansforDocumentation&coding218InsuranceLinkedHealthcare150150EmployersponsoredHealthInsurance134Al-enabledEmployerHealthlnsuranceplanHealthcareNavigationforAgingAdultsAutomationplatformforHealthcareoperationsIntegratedBenefits,HR&complianceplatformMedicareNavigationplatform$476300Fraud&DisputeManagementplatform280Al-EnhancedGRcsoftware200175Real-TimeEventandRiskDetectionplatformFraudpreventionplatformFraud&Financialcrimepreventionplatform

sardineAl-poweredplatformforFraud,creditandcomplianceINFgRMEDEmployment&IncomeverificationplatformIVIXLargestFinancingsin2025BySub-Sector(cont.)$2,136a)$2,136a)predictionMarketplatform1,485a)predictionMarketplatform1,200a)&Tradingplatform250Rent&MortgagecryptoBasedLending165consumerfinanceandcreditplatformlnstantRecreationalpurchase150146creditproductsLuxuryHomeco-ownershipplatform么ACRISUREe$2,100Tech-EnabledFinTechlnsuranceplatformAl-DrivenpricingandRatingplatformMarketscommercialTruckingInsuranceEnd-to-EndclaimsManagementsolutions123BitcoinDenominatedLifeInsuranceEnd-to-EndLifeInsuranceFEDERAT色EnterpriseRiskModelingandwefoxDigitalInsuranceDistributionplatformIndiaBasedInsurancecomparisonplatformramp山$1,150a)Financialoperations/spendManagement500250providersAl-DrivenpricingandRatingplatformAl-DrivenDecisionInteplatform150securityManagementAngle134Al-EnabledEmployerHealthInsuranceplanAl-poweredTaxResearchplatformAl-BasedworkingcapitalplatformforsMESAutomationplatformforHealthcareoperationsFTPartnersFinTechStrategicInsightsFinTechAlmanac|Financing&M&AStatisticsMostActiveFinTechInvestorsInvestorName#ofNewFinTechInvestmentsin2025selectedNewFinTechInvestmentsin20252624FJLABS23andrxz21endeavor20Accel*BULKmeshperpl8theopvariational》Alpen⃞HelloIradeArloFifteenth日IntegralPRYPC。%pvxpartners团octolaneAldeel,kalshiontikagrainpLT么Mendelain-buk-MERITUsrosThndrrNIUM四52Thislistexcludesaccelerators;NotMostActiveFinTechInvestors(cont.)InvestorName#ofNewFinTechInvestments2025selectedNewFinTechInvestmentsin202551302926争tether20 auavest53llogos/investmentsareshownMostActiveFinTechInvestors(cont.)TotalTotalInvestments(includingfollow-ons)in2025InvestorInvestorNameTotalNewFollowmmon21324724233423Accel3127261SEQUOIA27endeavor2620625249242352322835296343326731301212012012032229612NewFollow-onInvestorNameTotal54SelectedActiveFinTechInvestorsOverTimeSEQUOIA烂TIGERGLOBAL121221312l:iill44anthenis2010o991oono91010gcoinbase33lisiAccell.mal1555Source:FTPartners,ProprietarySource:FTPartners,ProprietaryTransactionDatabase–FinTechInvestorsStrategic&CorporateVentureCapitalParticipation–Approximately38%ofFinTechfundingroundsincludedparticipationfromastrategicorcorporatevcinvestor,onparwith2024.Thecrypto&Blockchainsectorcontinuestobeadrivingfactorinthis,asmorethanhalfofallfundraisesinthesectorincludeastrategicinvestor.–FinTechInvestorsStrategic&CorporateVentureCapitalParticipation(cont.)–TargetAmountstrategicInvestor(s)TargetAnountstrategicInvestor(s)$2,000$90日icapital820wwmmeanwhile300300250227MetLife⃞TIAAventures200Bitise",150心sardines135ethic.Digital八sset135oxroxotccDR'Digital八ssetflMUFGanFTPartnersFinTechSt