Blythe Masters' recent Series A funding round was just one of 32 deals from the first quarter that secured N.Y.C.'s place atop the fintech mountain — at least for a while.
According to a new report from KPMG and CB Insights, all of New York's venture capital-backed fintech deals announced in the first quarter of 2016 totaled $831.8 million in value. That's about equal to all of 2015. Deal volume here outpaced California hubs San Francisco, Palo Alto and Los Angeles. But the overall trend wasn't exclusive to just Silicon Alley.
The Q1 report saw a big rebound in quarterly funding to the fintech sector across the globe. Venture capital-backed fintech companies drew $4.9 billion in funding, rising from just $1.9 billion in the fourth quarter of 2015. Larger deals, like the one helmed by Masters for her blockchain company Digital Asset Holdings, spurred fintech funding growth at the beginning of 2016. However, the sector could take a dip soon, KPMG's Brian Hughes warned.Read Complete Article