December 2019
With major IPOs in 2019 struggling and high-flying Unicorns (WeWork, AirBnB) delaying plans to go public, 2020 could bring a turn in the private FinTech cycle. After 10 years of a private market boom, valuations are stretched and macro risks are building up. Could 2020 herald a slowdown in private FinTech: lower valuations, tougher conditions for raising capital, down rounds, pressure on startups to reduce burn rate, and investors pushing portfolio companies to fast track profitability. Rosenblatt Securities surveyed top investors (VCs, PEs, CVCs) to capture their thoughts how they would navigate a turn in the private market cycle.