The recent McKinsey Report “Fintechs A New Paradigm of Growth" is well researched and well worth reading. The report is global in scope including my favorite fintech market, Africa. Some key takeaways from McKinsey:

• After decades of hyper growth fintechs have entered a new era of value creation where the focus is on sustainable, profitable growth.
• The 2022 market correction ended an era of fast and furious growth, deal making and unicorn creation. Funding and deal activity have declined and there are fewer IPOs and SPAC (Special Purpose Acquisition Company) listings.
• The last era was about firms being experimental, taking risks and pursuing growth at all costs. In the new era a challenging funding environment means fintechs can no longer afford to sprint, they must run at a slower and steadier pace.
• Even with those changes African Fintechs remain a vital and attractive industry. 2022 revenues estimated at $3 to $4 billion are expected to reach $15 to 20 billion my 2028.