As of mid-August, the S&P is down 12% YTD and tech-heavy Nasdaq is down 19%, but the FinTech index of 54 public firms is down a whopping 74%. This major reset in public FinTech stocks is also now making its way through the private FinTech market, with even the largest unicorns (e.g., Klarna, Stripe) experiencing steep valuation cuts. Private FinTech multiples have contracted dramatically from 40-50x top line revenue to 5-6x. Private investors are very skittish in deploying new cash to this sector, even as founders remain keen to raise funds to extend their runway in a weakening economy. This is a dramatic reversal of fortune for the FinTech sector from the heady last few years. Bain Ventures’ Matt Harris described the sentiment succinctly, “FinTech is now reaping the harvest of its exuberance over 2019-2021."
Join the Rosenblatt investment banking team for a webinar with four world-class private market investors - who have a combined 100+ years of investment experience – to go behind the scenes and answer crucial questions such as:
1. What is the FinTech investor’s mindset going into Q4 2022 and next year?
2. How will this affect funding levels, valuations, and multiples?
3. How will the current downturn affect the structure of private FinTech investing?
4. What is the state of particular FinTech sectors: Lending, BNPL, Neobanks, InsurTech, etc.?
5. Where does this leave Crypto, Blockchain, and DeFi?
Teaser Video Introducing the Webinar