Global fintech funding touched 5-yr low in 2023, AI focus area for VCs: Report

A storm of global challenges — from the high-interest-rate environment and stubbornly high inflation in many jurisdictions, to conflicts in Ukraine and the Middle East — combined with concerns about valuations and the barren exit environment, saw fintech investors becoming increasingly cautious with their investments. A recent report by KPMG revealed that global fintech funding witnessed a five-year low in 2023.