The figures show that FinTech is not failing, but rather flourishing. For example, have a look at Innovate Finance’s FinTech 2022 report from a month ago. The following are the main headlines:

The capital invested in FinTech globally reached $92 billion in 2022, a 30% decline from the previous year’s total investment of $130 billion. In 2022, the money invested in FinTech was divided among 5,263 transactions, compared to 6,146 transactions in 2021.

Overall, the United States received the greatest investment in FinTech in 2022, bringing in more than $39 billion, with the United Kingdom securely in second position with $12.5 billion, followed by India with $5.5 billion, Singapore with $4 billion, and Germany with $ 2.9 billion.

UK FinTechs received $12.5 billion in funding spread across 546 agreements in 2021, compared to $13.5 billion spread over 583 deals in 2021, an 8% reduction from 2021. This is a far smaller fall than the global average, with several other countries, including the United States, experiencing double-digit declines in investment. London is a significant worldwide FinTech investment location, with $10.2 billion received in 2022, a 5% decrease from 2021.

Singapore, which recorded a 41% increase in investment from 2021, is one of the exceptions to the global slowdown.

Some countries have seen significant declines in investment in 2022, including China and Brazil, which have both fallen down the world rankings by 65% and 57%, respectively, from 2021. Some countries, on the other hand, have risen in the rankings, with France moving from 11th to 6th place and Singapore moving from 7th to 4th position.

So, it’s not all doom and gloom. Investment is decreasing, but London remains at the top.

According to KPMG’s Pulse of Fintech report, global investment in the fintech market fell from a peak of $238.9 billion in 2021 to $164.1billion in 2022. Despite the more than 31% reduction in 2022 was one of the best years on record for fintech investment with several industries still booming. As a sub-sector of fintech, regtech, for example, grew to $18.6 billion in size.

KPMG also reports that during the past years, investment in UK FinTech has increased by more than 50%. The amount of money invested in UK fintech fell by 56%, from $39.1 billion in 2021 to $17.4 billion in 2022.

But then there are also statistics and false facts. For example:

• Statista anticipates that there are 8,775 fintech startups in the Americas as per year 2021, compared to 4,765 in Asia-Pacific and 7,835 in Europe, according to the FinTech Control Tower report.

• The fintech industry is expected to be worth $ 179 billion by 2023.

• There are about 30,000 startup Fintech companies.

• Investment in fintech startups was worth $ 210 billion globally in 2021.

• Investment in the insurance fintech market reached roughly $ 15billion in the year 2021.

• AS of year 2022, there were 323 unicorn fintech companies globally as of October 2022 namely paypal, Ant Technology, Stripe, shopify, Adyen, revolut, Binance, Chime etc.