Last year was a challenging period for the fintech sector. According to CB Insights, global funding volumes were down 46% from 2021, with the fourth quarter of 2022 recording the lowest quarterly level since 2018.
Analysis of fintech mergers and acquisitions undertaken by The Paypers shows fintech M&A activity at its lowest level since 2017.
But this did not stop United Fintech making its latest FX-focused acquisition with the purchase of post-trade processing network Cobalt in December, which followed a deal in 2021 to acquire trading analytics firm FairXchange and the purchase of trading data provider NetDania.
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