The fintech market globally made a strong rebound in Q2 2017, with total investment more than doubling on a quarter over quarter basis to more than $8.4 billion across 293 deals.
The data, collated for KPMG's quarterly Pule of Fintech
report, showed that large increases in PE and M&A funding propelled the increase, while the amount of VC investment held relatively steady.
Business-to-business related fintech investments showed an upward swing, reflecting an insitutional push to slash back office costs using AI-based tools, Regtech solutions and advanced data and analytics.
Blockchain also remained a strong area for investment, expanding its reach well beyond banking and into potential applications for insurance, health and government.
The Americas dominated fintech investment during Q2, primarily due to the blockbuster $3.6 billion buy out of Canada's DH Corp. Excluding this, both Europe and the US experienced strong growth, with both regions seeing $2 billion in investment.