Analysis
Global fintech funding totaled $10.6 billion in the third quarter of 2026, down 21.4% from $13.5 billion a year earlier, according to Crunchbase News, which Pulse has tracked quarterly throughout 2026.
That's also down 28.4% quarter over quarter from $14.9 billion in Q2. Deal count fell to 687, the lowest quarterly total in Crunchbase's data since the first quarter of 2018, down 12.9% from Q2's 789 deals and down roughly 31% from 995 a year ago.
The decline is concentrated almost entirely at the top of the market.
“That's also down 28.4% quarter over quarter from $14.9 billion in Q2.”
- $100M+ rounds -- fell 43.3% quarter over quarter, from $9.07B to $5.15B, about 93% of the total dollar decline.
- Sub-$100M rounds -- fell just 5.1% over the same period.
- Late-stage funding -- dropped 40.4% quarter over quarter to $4.8B.
- Early-stage funding -- rose 11% to $4.23B, though Crunchbase notes that excluding Ant International's $1.2B Series A round, it would have fallen 20.4% instead.
The five largest deals of the quarter, all outside the U.S. even as the U.S. still captured 50.5% of global fintech dollars:
- Ant International -- $1.2B Series A, $11.2B post-money (Singapore).
- Barq -- $329.5M Series A, $1.85B post-money (Riyadh).
- Qupital -- $300M Series C led by M Capital, ~$1.36B post-money (Hong Kong).
- Ajaib -- $270M Series C led by SBI Group, $1.35B post-money (Jakarta).
- Tabby -- $233M Series F led by Blue Pool Capital, $6.5B post-money (Riyadh).
QED Investors partner Laura Bock told Crunchbase "the market remains bifurcated -- AI vs. not and market leaders vs. not," while Forerunner's Kirsten Green said evidence now counts for more than narrative in Series A and B decisions.
