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Fintech Monthly Market Update | February 2021

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Fintech Monthly Market Update | February 2021 Fintech Monthly Market Update FEBRUARY 2021 EDITION Leading Independent Advisory Firm Houlihan Lokey is the trusted advisor to more top decision-makers than any other independent global investment bank. Corporate Finance Financial Restructuring Financial and Valuation Advisory 2020 M&A Advisory Rankings 2020 Global Distressed Debt & Bankruptcy 2001 to 2020 Global M&A Fairness All U.S. Transactions Restructuring Rankings Advisory Rankings Advisor Deals Advisor Deals Advisor Deals 1,500+ 1 Houlihan Lokey 210 1 Houlihan Lokey 106 1 Houlihan Lokey 956 2 JP Morgan 876 Employees 2 Goldman Sachs & Co 172 2 PJT Partners Inc 63 3 JP Morgan 132 3 Lazard 50 3 Duff & Phelps 802 4 Evercore Partners 126 4 Rothschild & Co 46 4 Morgan Stanley 599 23 5 Morgan Stanley 123 5 Moelis & Co 39 5 BofA Securities Inc 542 Refinitiv (formerly known as Thomson Reuters). Announced Locations Source: Refinitiv (formerly known as Thomson Reuters) Source: Refinitiv (formerly known as Thomson Reuters) or completed transactions. No. 1 U.S. M&A Advisor No. 1 Global Restructuring Advisor No. 1 Global M&A Fairness Opinion Advisor Over the Past 20 Years ~45% Top 5 Global M&A Advisor 1,000+ Transactions Completed Valued Employee-Owned at More Than $2.5 Trillion Collectively 1,000+ Annual Valuation Engagements Leading Capital Markets Advisor ~$4.5 billion Market Cap North America Europe and Middle East Asia-Pacific Atlanta Miami Amsterdam Madrid Beijing Sydney >$1 billion Boston Minneapolis Dubai Milan Hong Kong Tokyo Annual Revenue Chicago New York Frankfurt Paris Singapore Dallas San Francisco London No Houston Washington, D.C. Debt Los Angeles 2 Global, Market-Leading Fintech Practice There is significant momentum in fintech following a dedicated team build-out across our industry-leading FIG, TMT, 75+ Global 50+ and Data & Analytics dedicated fintech/FIG single specialized completed or announced franchises, supported further bankers based in London, fintech practice fintech M&A and private New York, Los Angeles, across the world placement transactions by the extensive resources Miami, and San Francisco since the start of 2019 and relationships of Houlihan Lokey’s broader global platform. Financial Institutions Technology, Media, and Telecom 2020 M&A Advisory Rankings U.S. Technology, Media, Entertainment & Telecom Transactions Under $5 Billion Advisor Deals 1 Houlihan Lokey 43 Product Capabilities 1 Goldman Sachs & Co 43 3 JP Morgan 36 Sellside and Private Equity Financial Board and Fairness Opinions Morgan Stanley 36 3 Buyside M&A and Debt Capital Restructuring and Special Committee and Valuation 5 Raymond James Financial Inc 34 Source: Refinitiv (formerly known as Thomson Reuters) Advisory Markets Special Situations Advisory Services 3 Integrated Team Built to Advise Modern Fintech Platforms Fintech Leadership Team Mark Fisher Tim Shortland Rob Freiman Kegan Greene Chris Pedone Managing Director Managing Director Director Director Director [email protected] [email protected] [email protected] [email protected] [email protected] Additional Senior Industry Bankers and Team Members Jeffrey Levine Andrew Adams Rob Louv Tara Carter Christian Kent Craig Muir Gagan Sawhney Eric Weber Global Head, Head, Global Co-Head, Managing Director, Managing Director, Managing Director, Managing Director, Managing Director, Financial Institutions Data & Analytics TMT / Software Data & Analytics Financial Institutions Data & Analytics Financial Institutions Financial Institutions Brent Ferrin James Rekas Evan Schutz Vik Sood Paul Tracey Rob Hallot Rob Losquadro Matt Capozzi Director, Director, Director, Director, Director, Senior Vice President, Senior Vice President, Vice President Financial Institutions Business Services Data & Analytics TMT / Software Financial Institutions Data & Analytics Financial Institutions Anna Cotterell Alex Fauron Antoine Marie Aaron Solomon Joe Watson Dakota Frank Andrew Larrabee Jack Denzer Vice President Vice President Vice President Vice President Vice President Associate Associate Financial Analyst 4 How We Look at the Fintech Opportunity Subsector Asset/ Banking/ Capital Corporate/ Data and Insurance Payments Real Estate/ Wealth Lending Markets Diversified Analytics Mortgage has been acquired by a portfolio company of has been acquired by has completed a recapitalization has been acquired by with has been acquired by has agreed to merge with PropTech Transaction Pending Minneapolis Grain Exchange Transaction Pending Acquisition Corporation via SPAC combination has been acquired by has been acquired by a portfolio company of a portfolio company of a portfolio company of has acquired and including has acquired a majority interest in has been acquired by has acquired an investment in has been acquired by has been acquired by has agreed to be acquired by Sellside Advisor Fairness Opinion Financial Advisor Sellside Advisor Sellside Advisor Sellsidea portfolioAdvisor company of Sellside Advisor Advisor to Special Committee has agreed to be acquired by Select Select Credentials Financial Advisor Sellside Advisor Sellside Advisor Sellside Advisor Sellside Advisor Buyside Advisor Buyside Advisor Sellside Advisor Illustrative Illustrative Companies BUSINESS MODELS CONVERGING Alternative Financial Services • BPO • Data and Analytics • Software/SaaS • Tech-Enabled Services • Transaction Processing Note: Logos shown for each category are illustrative. 5 Recent Houlihan Lokey Transaction Spotlight has received a minority investment has been acquired by from has received a $260m structured investment from Transaction Macquarie Transaction Pending Transaction Pending including Financial Advisor and Placement Agenthas agreed to be acquired by Sellside Advisor Financial Advisor has agreed to be acquired by February Sellside Advisor February December Sellside Advisor December December Deal Date 2021 2021 2020 2020 2020 Not Disclosed C$155 million £508 million Not Disclosed A$260 million Deal Value Enterprise data Tech-enabled Global network Cryptocurrency trading Consumer credit management and buy now, pay later of online price platform and liquidity registry operator compliance solutions (BNPL) financing comparison portals provider for institutional and analytics solutions for capital markets, solutions for for financial market participants across Australia and Target accounting, and consumers and services products New Zealand Description insurance industries merchants Geography Financial Advisor and Sellside Advisor Sellside Advisor Sellside Advisor Financial Advisor Placement Agent Houlihan Lokey Role Lokey 6 Proven Fintech Track Record With Exceptional Momentum Transaction Pending has entered into an agreement to sell its minority stake in has invested in has been recapitalized by to has received a minority investment has been acquired by from has received a $260m structured Buyside Advisor and Financing Advisor Sellside Advisor investmentSellside Advisorfrom Feb. 2021 Feb. 2021 Dec. 2020 Dec. 2020 Dec. 2020 Dec. 2020 Dec. 2020 Dec. 2020 Nov. 2020 Nov. 2020 has been acquired by has completed a recapitalization Data and Analytics Banking/Lendingwith Data and Analytics Capital Markets Data and Analytics Corporate/Diversified Asset/Wealth Corporate/Diversified InsuranceMacquarie has agreed to mergeCapital with PropTech Markets Transaction Pending Transaction Pending Acquisition Corporation via SPAC combination a portfolio company of including Unit4 Wholesale B.V. Protectionhas been acquired America by Inc. has been acquired by Financial Advisor and Placement Agenthas agreed to be acquired by a subsidiary of Sellside Advisor Financial Advisor Fairness Opinion Sellside Advisor Advisor to Special Committee has acquired has been acquired by has participated in the has agreed to be acquired by has been acquired by has received an investment by Minneapolis Grain Exchange a portfolio company of has acquired an investment in has been acquired by Sellside Advisor Sellside Advisor Sellside Advisor Sellside Advisor a portfolio company of a portfolio company of a portfolio company of has been acquired by Series B financing round Sellside Advisor Buyside Advisor Placement Agent Sellside Advisor Financial Advisor Sellside Advisor Sellside Advisor Financial Advisor Nov. 2020 Oct. 2020 Oct. 2020 Oct. 2020 Oct. 2020 Aug. 2020 July 2020 June 2020 May 2020 Mar. 2020 Insurance Data and Analytics Insurance Insurance Corporate/Diversified Capital Markets Corporate/Diversified Asset/Wealth Real Estate/Mortgage Asset/Wealth Transaction Pending Unit4 VerzuimSignaal B.V. a subsidiary of and its wholly-owned subsidiary has acquired European Servicing the venture capital arm of a portfolio company of has acquired a majority stake in Series A has invested in Senior Secured Notes has agreed to be acquired by Growth Capital have been acquired by a leading U.K. pension and Growth Equity has been acquired by investment advisory business Portag3 Ventures II LP $400,000,000 $50,000,000 $40,000,000 Preferred Equity Financial Advisor Financing Advisor Exclusive Financial Advisor & Placement Agent Financial Advisor Exclusive Placement Agent Sellside Advisor Placement Agent* Sellside Advisor Sellside Advisor* Mar. 2020 Mar. 2020 Mar. 2020 Feb. 2020 Feb. 2020 Jan. 2020 Dec. 2019 Nov. 2019 Nov. 2019 Sept. 2019 Banking/Lending Asset/Wealth Banking/Lending Asset/Wealth Banking/Lending Banking/Lending Fintech Fund Corporate/Diversified Asset/Wealth Banking/Lending Funds managed by have entered into an agreement to a portfolio company of combine a portfolio company of a portfolio company of has been acquired by
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