2016 is turning out to be a promising year for fintech startups, with fundraising to date exceeding last year's by 36%. This comes at a time when the tech sector in general has been experiencing down rounds or markdowns. According to a recent KPMG report, the wealth management space,through robo-advisor technologies, can be a driving force of additional capital into fintech as institutions are continuously gaining interest in owning these technologies internally.
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Funding for Venture Capital-Backed Fintech Startups Is Poised to Hit a Record in 2016
"Fintech had a very strong start to the year, and with the recent multi-billion dollar investment in Ant Financial in April, we are starting to see fintech move into the mega-deal space," Warren Mead, global co-leader of fintech at KPMG International said in the report.
