The fintech ecosystem has kicked off 2025 with renewed momentum. In the first quarter of the year, at least 19 startups have surpassed $50 million in funding rounds, confirming the return of investor appetite for technology companies in the financial sector.
But this trend doesn’t stop there: signals point to an imminent wave of M&A activity, driven by the maturity of many business models, their scalability, and a favorable context for consolidation.
Solid Funding Sets the Pace
According to the Pulse of Fintech H1 2025 report by KPMG, fintechs in the United States raised $26.7 billion in the first half of the year, while European fintechs raised $13.7 billion. This flow of capital not only demonstrates confidence, but also seems to set the stage for strategic mergers, selective acquisitions, and well-aligned deals that enhance efficiency and expansion.
Who is leading this revival?
A recent analysis by TechCrunch and PitchBook identified 19 US fintech startups that have raised over $50 million in funding just in the first quarter of 2025. Among the startups leading this new funding cycle are:
- Plaid, which reinforced its dominance in banking connectivity with a $575 million round, backed by giants like BlackRock and Fidelity.
- Mercury, a neobank for SMEs, raised $300 million to expand its infrastructure.
- Rain and Tapcheck, both focused on a model that allows employees to access part of their earned wages before payday, raised over $200 million, aiming at a financial wellness model directly connected to payroll.
- In the crypto and Web3 space, Mesh, Bitwise, and Raise positioned themselves as leaders in payments, asset management, and digital consumption.
- Sardine, specializing in AI-powered fraud prevention, raised $70 million in a round led by Google Ventures and Andreessen Horowitz.
These deals are not isolated cases, but a clear sign of where the market is heading: specialized fintechs with solid models, scalability, and a well-defined technological proposition.
Global Fintechs Also Attract Capital
Beyond the dynamism of the US market, other fintechs across continents are attracting significant investments and consolidating themselves as key players in their respective ecosystems:
- Finom (Netherlands): raised €92.3 million in 2025 to scale its financial platform for SMEs across Europe.
- Scalable Capital (Germany): raised €155 million backed by BlackRock, aiming to lead digital investing in Europe.
- Aspora (UK / India): raised $53 million to boost cross-border banking for the Indian diaspora.
- Zeta (India): received a strategic investment of $50 million to strengthen its banking services technology platform.
- Blockaid (Israel): specializing in blockchain cybersecurity, led fintech investment in the first half with a $50 million round.
Why Does This Moment Mark the Start of a New M&A Wave?
This volume of funding seems to be the prelude to a broader movement of strategic consolidation, for several reasons:
- Scalability and traction: Many fintechs have already validated their models and have substantial, profitable user bases.
- Specialization in specific niches: More and more fintechs are focusing on solving very specific problems—such as digital payments, regulatory compliance, credit services, or tech infrastructure—making them attractive targets for acquisition.
- International expansion: Some fintechs operate in multiple countries, making them ideal vehicles for companies seeking access to new markets.
- Technological synergy: Major players—banks, funds, insurers—are seeking capabilities that allow them to accelerate their digital transformation.
- Opportunity for founders and investors to realize their exit: After several years of growth, many projects reach a point where it makes sense to integrate into a larger structure, allowing their founders to capture the value they’ve created.
Expert Guidance for Strategic Decisions
With funding regaining momentum and consolidation on the rise, what makes the difference between a successful deal and one that’s merely closed is the quality of strategic guidance.
Entrepreneurs need much more than financial advice: they require partners who understand the impact of technology on their business model, the right timing for a sale or integration, and how to preserve the value of their company in an M&A process.
Likewise, buyers—whether funds, corporations, or institutional investors—must identify not only companies with good numbers, but those that strategically fit their vision and can be integrated without losing their essence.
In this new cycle, success will not come only from having capital, but from knowing where and how to deploy it.
