Hey fintech friends,

Welcome to the first quarterly roundup of 2024!

For new readers, Signals is the premium subscriber edition of TWIF designed to get you away from the headlines and to explore the larger trendlines. Each quarter, we break down four key questions on fintech activity:

1. Which concepts are getting funded? 
2. Where are exits, M&A, and SPACs concentrated? 
3. Which firms are raising debt and venture funds for fintech? 
4. Which products were launched over the last quarter? 

Signals roundups are possible thanks to Hayden Hill, who collates insights from TWIF's newsletters into a comprehensive data dashboard each quarter.

If you haven’t already, subscribe to future editions here!

Overall activity

Fintechs raised a total of $5.37 billion in Q1, down 25% from the prior quarter and down 56% Year-over-Year. Though the number of rounds raised was up 10% QoQ, the average size of each raise shrank 32% QoQ.