PitchBook年二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 ecosystemQ22025REPORT PREVIEWThe full report is available through the PitchBook Platform.CONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 2ContentsQ2 2025 Enterprise Fintech VC TrendsInstitutional Research GroupAnalysisRudy Yang Senior Research Analyst, Enterprise Fintech and Retail Fintech rudy.yang@pitchbook.comDataMatthew Nacionales Senior Data Analystpbinstitutionalresearch@pitchbook.comPublishingReport designed by Megan Woodard and Drew SandersPublished on July 31, 2025Enterprise fintech landscape 3Enterprise fintech VC ecosystem market map 4VC activity 5Enterprise fintech VC deal summary 26Deal-sourcing insights 27Appendix 29For previous updates as well as our complete fintech research, please see the designated analyst workspace on the PitchBook Platform.CONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 3Q2 2025 Enterprise Fintech VC TrendsEnterprise fintech landscapeRegtechWealthtechPaymentsAlternative lendingCapital marketsCFO stackCommercial financeFinancial services infrastructureCONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 4Q2 2025 Enterprise Fintech VC TrendsEnterprise fintech VC ecosystem market mapCONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 5Q2 2025 Enterprise Fintech VC TrendsVC activityQ2 2025 marked a rebound in enterprise fintech VC deal value from the prior quarter. VC deal value was $6.1 billion, up 18.6% from the prior year period and up 5.9% sequentially. VC deal volume, however, declined 13.1% QoQ to 351 transactions. This dynamic reveals that bigger checks are being written, with AI partly driving the premium.The AI effect is fundamentally reshaping economics in fintech. AI-enabled fintech companies are securing 45.5% higher deal values than non-AI fintech companies at the early stage, with pre-money valuations running 242% higher. This premium helped drive early-stage median deal sizes to $10.2 million, doubling last year’s levels. VC dollars are following the AI trail, with the CFO stack segment as the clear beneficiary, capturing $1.8 billion across 90 deals. The main reason for this is that investors are betting big on AI’s promise to streamline the manual finance and back-office tasks that have long resisted automation. Exit activity remains modest, though public listings were the big story of fintech this quarter. Circle’s $6.4 billion IPO dominated enterprise fintech VC exits, driving total disclosed VC exit value to $8.4 billion. However, stripping out this debut leaves a more subdued picture, with just $2 billion in VC exit value. Consumer fintech listings in Q2 from eToro and Chime, alongside new filings from Navan and Wealthfront, signal that a bigger breeze may arrive in exits as the IPO window expands. Companies in the IPO pipeline will be watching post-listing performance closely, as Circle was the only fintech to finish Q2 in positive territory among its newly public peers.Source: PitchBook • Geography: Global • As of June 30, 202