New Delhi, Oct. 23 -- Valuations of fintech companies have come under pressure across several segments as investors reassess businesses, while global fintech deal activity is showing signs of renewed momentum entering the fourth quarter of 2026, according to a report by D.A. Davidson.

The report said activity in mergers and acquisitions (M&A) and capital raising had moderated during the summer months but was beginning to recover, supported by continued interest from strategic buyers and financial sponsors in high-quality businesses.

However, valuation trends remain uneven across sectors. Data from the report show that revenue multiples have declined in several fintech segments since September 2025, reflecting a reassessment of how inves...