CB Insights – State of Fintech Global, 2025

The report provides global data and analysis on dealmaking, funding, and exits by private market fintech companies in 2025.

Fintech funding in Q4 2025 spiked to the highest level in three years, with 63% of capital flowing to 29 mega-rounds. Early-stage fintech funding fell to a multi-year low. The average crypto deal size nearly doubled from 2024 to 2025, driven by crypto-native and blockchain-adjacent fintech companies. Payments technology attracted the most deals in 2025 (535 deals), outperforming other fintech categories such as digital banking, lending, wealth, capital markets, and crypto. Prediction markets funding surged amid rivalry between Kalshi and Polymarket, both becoming unicorns in 2025 with significant valuation increases.