It's been a rough stretch for stocks overall, particularly in the tech sector. The Nasdaq fell about 4% in February, and the S&P 500 declined 1.4%.
Investors have been rattled in recent days by President Donald Trump's promise of tariffs and economic reports flashing warning signs. Notably, initial filings for unemployment benefits hit their highest level of the year last week in another potential sign of weakness in the labor market.
Fintechs can be more sensitive to economic conditions than the broader tech sector because they're more directly effected by interest rates, employment data and consumer confidence.