While the public market correction has been widespread, tech and fintech stocks have seen the largest declines, according to a recent report.
Specifically, the Fintech Index — which tracks the performance of emerging, publicly traded financial technology companies — was down a staggering 72% in 2022, according to F-Prime Capital’s State of Fintech 2022 report. After hitting a peak of $1.3 trillion in late 2021, the F-Prime Fintech Index slid to $397 billion by the end of 2022.
Currently, the Fintech Index comprises 55 companies across B2B SAAS, payments, banking, wealth and asset management, lending, insurance and proptech.
“The biggest shift in 2022 was that public investors for the first time got to weigh in on fintech stocks,” said David Jegen, managing partner of F-Prime Capital. “That was probably not super great timing considering the broad macroeconomi …
