comedown from The venture capital boom of 2021 has jolted much of the startup world, but the scarcity of capital has been on display sharply in one specific place: fintech.
CB Visions data indicate that after peaking in 2021, funding for fintech startups worldwide fell 46% to $75.2 billion from $139.8 billion a year earlier. Early 2023 data is still pouring in, but we haven’t heard from anyone yet that fintech venture funding is going to rebound. Yes, bar $6.5 billion increase It might skew the numbers somewhat, but let’s not forget that it’s also a round down.
The exchange explores startups, markets and money.
Read it Every morning on TechCrunch+ or get it Exchange Newsletter Every Saturday.
But financial technology is wide ranging, and includes everything from ringing And alpaca to brix. In fact, it’s almost too broad a range to be of much use. You have to dig deeper and be more specific to get a clearer picture of its evolving trends.
This brings us to CFOs, everyone’s favorite person on the company’s executive team: the refuser, demander of receipts, and rotten budgeter of budgets.
Call them what you will, CFOs are an important part of a startup’s development. We don’t pay enough attention to CEOs here at TechCrunch, since we focus more on founders, but in the past year, CFOs have caught our eye: TechCrunch reported on a flurry of CFO volatility In companies that were on the IPO path before the market blocked this path or stopped trading.
That’s the bad news for CFOs: Changing valuations in many categories of startups have taken IPOs off the table, and they’re now tasked with maximizing liquidity in a market where capital has dried up faster than a pool in Death Valley.
But there’s good news, too: plenty of fintech startups are building tools for CFOs and their larger offices, often called the “CFO Stack.”
