FinTech is on the rise and these two graphics by CB Insights help visualise the boom within the sector.
As reported by Business Insider, FinTech startups enabling services like peer to peer money transfer and lending services are on the rise.
The first shows the amount of funding FinTech startups have received over the past 5 years. Investments in Q2 2010 made up less than $1 billion, in Q1 2015 they've risen to nearly $3 billion:
Even more fascinating is the increase in the number of investors in FinTech over the past 5 years. There are four times as many FinTech investors now than in 2010. That's some serious traction:
The uplift is a perfect illustration of the movement towards customer centric, transparent and fairer finance.
A movement TransferWise is proud to be a part of.
What is TransferWise?
TransferWise is the clever new way to convert money to send abroad. The idea is very simple.
Banks charge you huge fees when you send your money abroad. Then they hide more fees in unfair exchange rates. TransferWise has found a simple way to bypass the banks and make international money transfers transparent and fair. Like they should be.
The pricing is transparent. The exchange rate is the real one. The small fee is easy to spot.
Try out TransferWise's new BIC/SWIFT Toolkit here.