Fintech VC Trends, Q4 2025 (PitchBook / NVCA)

Summary

• Fintech VC deal value surged in Q4 2025 to $17.3 billion, a 114.3% YoY increase, bringing the full-year total to $42.8 billion, the highest annual funding level since 2022.p.4
• Q4 deal count was 508, down 1.2% QoQ but up 5.2% YoY, and 2025 saw 2,126 deals.p.5
• The overall median deal size was $6 million in 2025, up 25.4% from $4.8 million in 2024.p.5
• Enterprise fintech companies captured 58.3% of total fintech VC deal value and 71.4% of deal count in 2025.p.5
• Top segments by 2025 VC deal value were credit & banking ($8.5 billion), wealthtech ($8.3 billion), payments ($6.5 billion), and CFO stack ($6.1 billion).p.6
• Fintech public listings generated $55.6 billion in VC exit value for the full year.p.7

Key insights

1. Revolut raised a $3 billion late-stage round at a $72 billion pre-money valuation, the largest Q4 deal.p.6
2. Top Q4 M&A included Xero's $2.5 billion acquisition of Melio and Ripple's $1.3 billion acquisition of Hidden Road.p.6
3. The 2025 median early-stage pre-money valuation grew 62.9% to $50.5 million, up from $31 million in 2024.p.7
4. Seven listings in Q4 generated $16.2 billion in VC exit value.p.7
5. Prediction market weekly volumes have surpassed $5 billion, and Kalshi and Polymarket drew $3.7 billion in VC deal value across six deals in 2025.p.9
6. Institutional commitment to stablecoins and tokenization deepened, with prediction markets emerging as a new asset class.p.4