Fintech leads the way as Irish VC deals hit $185m in Q3
A global survey of venture capital financing has found that the Irish fintech (financial technology) sector led the way, as Irish companies secured more than $185 million (€166 million) in VC funding in the third quarter of the year.
KPMG’s Venture Pulse survey tracked more than 4,100 VC funding deals globally between July and September, totalling more than $55.7 billion. So far this year, at least $28.7 billion worth of VC deals were in Europe, which set a quarterly record in Q3 with almost $10 billion of deals. Globally, quarterly VC funding dropped by 14 per cent from almost $65 billion.
In Ireland, the funding raised was spread over 22 deals during the three-month period. KPMG said Ireland remains a “hotspot” for fintech investment, with recent deals such as Fenergo’s $74 million fund raising deal and a Future Finance round for $26 million.
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