New Report Finds $5 Billion in Investments in FinTech for Financially Underserved Americans
Thursday, November 7, 2013
Investment activity in FinTech companies for financially underserved consumers totaled more than $5.2 billion in allocated capital between July 2012 and June 2013, according to a report issued today by the Center for Financial Services Innovation (CFSI) and Core Innovation Capital (Core). The publication, Investment Activity in FinTech for the Financially Underserved, reveals substantial investor interest in a growing market for financial products and services with potential to better meet the needs of financially underserved consumers.
The report by CFSI and Core, which benefitted from strategic input and financial support from Morgan Stanley, looks at 71 equity investments, 11 acquisitions, and 3 IPOs involving more than 125 investors during the recent twelve-month span. Overall, this activity signifies a growing market interest, increasing investor confidence, and the potential to earn market rate returns for early investors in companies offering products and services that could simultaneously increase profit margins and create upward mobility for millions of Americans.