Overview

• Early-stage fintechs raised $598 million, while late-stage funding fell to $863 million and seed financing to $129 million.
• Two $100 million–plus rounds stood out: Groww’s $202 million Series F and Weaver Services’ $170 million raise.
• Market activity featured 23 acquisitions led by Diginex’s $2 billion purchase of Resulticks, Groww’s roughly $150 million buy of Fisdom, one IPO by Seshaasai, and two new unicorns.
• Deal volume declined 40% to 170 transactions, putting January–September funding at the lowest level since 2019.
• Investment remained concentrated in Bengaluru (52%) and Mumbai (22%), with active backers including Peak XV, Bessemer, GMO, SoftBank, and Sofina.