PitchBook年一季度企业金融科技风险投资趋势（英）

EMERGING TECH RESEARCHEnterprise Fintech VC TrendsVC activity across the enterprise fintech ecosystem Q12025REPORT PREVIEWThe full report is available through the PitchBook Platform.CONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 2ContentsQ1 2025 Enterprise Fintech VC TrendsInstitutional Research GroupAnalysisRudy Yang Senior Research Analyst, Enterprise Fintech and Retail Fintech rudy.yang@pitchbook.comDataNick Zambrano Data Analystpbinstitutionalresearch@pitchbook.comPublishingReport designed by Megan Woodard and Drew SandersPublished on May 9, 2025Enterprise fintech landscape3Enterprise fintech VC ecosystem market map4VC activity5Enterprise fintech VC deal summary26Appendix27CONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 3Q1 2025 Enterprise Fintech VC TrendsEnterprise fintechlandscapeRegtechWealthtechPaymentsAlternative lendingCapital marketsCFO stackCommercial financeFinancial services infrastructureCONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 5Q1 2025 Enterprise Fintech VC TrendsVC activityEnterprise fintech secured $5.6 billion in VC funding during Q1 2025, marking a 40.2% YoY increase against a notably soft comparable period. More encouragingly, funding also improved sequentially with a 13.5% QoQ rise. Deal volume showed similar strength, with the transaction count growing 3.3% YoY and 8.9% QoQ to reach 380 deals for the quarter.The improvement in enterprise fintech deal activity reflects strong tailwinds from AI integration accelerating product development cycles and anticipated regulatory easing under the Trump administration. Notably, median deal sizes and pre-money valuations grew meaningfully this quarter, highlighting the effects of the “AI premium.” However, due to ongoing market volatility, escalating tariff concerns, and persistent inflation pressures, we expect VC investment to remain constrained throughout the next two quarters.VC exits remain soft, with Q1’s 41 exits representing declines of 10.9% YoY and 18% QoQ. In the interim, we anticipate that the IPO window will remain largely closed due to persistent capital markets volatility. However, a substantial pipeline of mature fintech companies stands ready to pursue public listings once market conditions stabilize, potentially creating a significant exit wave when sentiment eventually improves.Source: PitchBook • Geography: Global • As of March 31, 2025Enterprise fintech VC deal activity$17.9$21.7$54.7$38.2$26.4$17.8$5.61,5221,6192,2892,0531,5231,2953802019202020212022202320242025Deal value ($B)Deal countSource: PitchBook • Geography: Global • As of March 31, 2025Enterprise fintech VC exit activity$13.3$9.3$65.2$18.3$4.4$13.9$2.5115123222168139171412019202020212022202320242025Exit value ($B)Exit countCONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 6Q1 2025 Enterprise Fintech VC TrendsVC ACTIVITYVC fundraisingVC deal value and count: Enterprise fintech companies secured $5.6 billion across 380 deals in Q1 2025, representing a 13.5% increase in funding value from the previous quarter and