Fintech funding snapshot

March was a strange month for fintech: 94 companies split about $1.56 billion, but the biggest checks did not go to broad “finance app for everyone” pitches. They went to businesses tied to digital banking, health insurance, and financial plumbing. (economictimes.indiatimes.com) The biggest round went to Ualá, an Argentina-based neobank, at about $193 million. A neobank is a bank built around a phone app instead of a branch network, and Ualá says it serves more than 11 million retail and business customers across Latin America. (economictimes.indiatimes.com) (fintechfutures.com) Ualá’s new financing valued the company at about $3.2 billion post-money, and Allianz X led the round after already backing Ualá’s 2024 Series E. In early 2026, Allianz and Ualá also launched digital life and personal accident insurance products inside the Ualá app. (fintechfutures.com) The second-biggest March deal went to Alan, which raised about $173 million. Alan sells health insurance and preventive care through software, so the company sits at the point where medical bills, insurance claims, and payments all collide. (economictimes.indiatimes.com) Another health-focused company, Nitra, raised about $113.5 million for financial software used by healthcare providers, and the same March funding list also included another Nitra round of $50 million. Adonis added about $40 million for revenue cycle management, which is the software hospitals use to turn treatment into paid claims. (economictimes.indiatimes.com) That pattern says investors were paying for software that touches money after a bill already exists, not just apps trying to win consumer attention. In healthcare, the pain point is usually collections, reimbursement, and underwriting, so the product can be tied to a measurable cash flow. (economictimes.indiatimes.com) (pitchbook.com) Crypto and digital asset infrastructure also showed up, but again in the boring back-office layers rather than speculative consumer products. Upvest raised $100 million for its investment application programming interface platform, KAST raised $80 million for stablecoin-based financial services, Cryptio raised $45 million for crypto accounting, and Crossover Markets raised $31 million for exchange infrastructure. (economictimes.indiatimes.com) (fintechfutures.com) Payments infrastructure kept attracting money too. Silverflow raised $40 million for payment processing infrastructure, Tazapay raised $38 million for cross-border payments, and ARQ raised $70 million for digital accounts, currency conversion, and investing services. (economictimes.indiatimes.com) (fintechfutures.com) This fits the wider 2026 mood in fintech. PitchBook said in January that the deal environment had reopened, but conviction was “increasingly selective,” with investors rewarding companies that show durable economics instead of pure growth stories. (pitchbook.com) KPMG’s February report said global fintech investment rose from $95.5 billion in 2024 to $116 billion in 2025, but deal volume still fell to an eight-year low of 4,719. More money with fewer deals usually means the market is writing larger checks to a narrower group of companies. (assets.kpmg.com) So March’s snapshot was less about a fintech comeback in general and more about where investors think software still has leverage. If a startup can own a bank relationship, an insurance workflow, a healthcare payment bottleneck, or a settlement rail, capital is still there; if it is just another consumer finance front end, the bar looks much higher. (economictimes.indiatimes.com) (pitchbook.com)