Investor Activity Slows After 2022, Yet Deals Continue in Indian Payments

While 2021 marked the peak of funding activity, the subsequent years 2022 through 2024 experienced a noticeable slowdown as global capital markets entered a broader financing drought. Despite the deceleration, the sector still saw eight initial public offerings and 25 acquisitions since January 2021. Some well‑funded firms are now consolidating, indicating an emerging phase of maturation where capital is being redeployed rather than continuously raised.