In contrast, seed rounds continued to attract funding.
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Private markets are also transitioning to 2019 valuation levels at a comparable but slower pace.
Notably, one in threefintechstartups are now labelled as crypto/blockchain.
One reason why is the growing interest in regulation technology as payments and open banking are increasingly consolidating.
Another is generative AIs potential applications in retail banking and the insurance sector.
Poland recorded the biggest drop at 89.9%.
Story byIoanna Lykiardopoulou
Ioanna is a writer at TNW.
With a background in the humanities, she has a soft spot for social impact-enabling technologies.
