Investors likely increased funding to capitalize on wealthtechs' success amid the coronavirus pandemic
Business Insider Intelligence
Despite funding volumes more than doubling, deal activity barely moved, with only four more deals than last quarter at 32. In line with the overall sector, large funding rounds therefore concentrated on a small number of wealthtechs: Trading app Robinhood and AI-powered institutional asset manager Pagaya achieved megarounds, raising $280 million and $102 million, respectively.
Investors likely increased funding to capitalize on wealthtechs' success amid the coronavirus pandemic. Many wealthtechs have enjoyed user and revenue growth over recent months. The pandemic has accelerated the
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