Venture capital backing for fintech firms hits record in 2016

Fintech companies are getting more venture capital backing than ever even as overall funding for the sector declines. A report by KPMG on funding in the global fintech sector found venture capital funding rose to $13.6 billion (€12.9bn) in 2016, up from $12.7 billion (€12.07bn) in 2015, with a total of 840 deals done.