Fintech investment in danger of going cold as coronavirus casts a chill

“It’s definitely a bearish market” said Chakravarty, who is seeking funding for Project Imagine, the company behind his fintech ventures. “I think this crisis will engender some consolidation,” said Matt Harris, a New York-based partner at Bain Capital Ventures. Revolut nonetheless said on Friday it had completed an $80 million top-up fundraising, preserving its $5.5 billion valuation. Propelled by these trends, no-fee trading app Robinhood said it raised $280 million in early May at an $8.3 billion valuation, closely followed by a $320 million raise earlier this month at an improved $8.6 billion valuation. ($1 = 0.7763 pounds)Related article: Getting from fintech to techfin – a slow evolution(Reporting by Iain Withers, Anna Irrera and Tom Wilson.

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