TLDR: Venture capital funding for fintech companies fell by 42% in 2023. However, according to a report by S&P Global Market Intelligence, a rebound is predicted for the second half of 2024. The report suggests that the funding downturn, which began in the second half of 2022, may be coming to an end as venture capital firms hold “dry powder”. The report also states that investors are likely to demand concrete business plans and profitability potential from fintechs. It notes that the rate of decline in fintech funding slowed in the fourth quarter of 2023 and predicts flat to modest growth in the second half of 2024. Fintech funding dropped less severely in North America than globally, with a 27% decline compared to 42% worldwide. The report suggests that venture capital firms have $566.61bn waiting to be invested, which is up nearly 7% from the end of 2022.