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Startups still receiving investments despite COVID crisis

Though the coronavirus outbreak is at its peak, startups worldwide are still receiving investments from undertaking entrepreneurs. In the third quarter, startups all around the globe accumulated about 73 billion dollars under the owner’s equity, 3 billion higher than the earlier quarter. In the Netherlands, startups gathered a total of 591.2 million dollars in the third quarter, more than twice the 252.4 million dollars elevated in the previous quarter, in accordance with research provided by KPMG and supplementary statistics the accountancy firms publicized.

In the earlier few quarters, capitalists mostly pushed cash into firms that successfully adapted to the COVID crisis and maintained good communications with their customers, changing their operations accordingly like work-from-home and remote learning. With the second surge of the outbreak striking more and more countries, this will probably continue in the coming days, KPMG predicts.

“With more states fronting the second upsurge of taint, venture financiers will continue to emphasis on answers that meet digital requirements of businesses and their customers,” Mark Zuidema of KPMG stated, “at current times, health tech and fintech are predicted to remain significant investment zones.”

The accountancy firm stated that while the total sum of investments augmented in the half-year passed, the number of people investing declined. Especially new startups raised much lesser capital investments during the coronavirus crisis, though this tendency begins to show itself before the outbreak. KPMG partly features this to prolonged buying series and the trouble of closing transactions remotely.

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KPMG predicts the current situations to continue for the next year. “The weakening of monetary inoculations in startup firms will exist, leaving many of these businesses without enough equity,” said Zuidema “this will probably bring some alliances in the market, particularly in the segments most affected by the epidemic.”

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