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Fintech Monthly Market Update | May 2021

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Fintech Monthly Market Update | May 2021 Fintech Monthly Market Update MAY 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 1,400+ Transactions Completed Valued Employee-Owned at More Than $3.0 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, and Data & Analytics groups, 75+ Global 50+ supported further by the dedicated fintech/FIG single specialized completed or announced extensive resources and bankers based in London, fintech practice fintech M&A and private New York, Los Angeles, across the world placement transactions relationships of Houlihan Miami, and San Francisco since the start of 2019 Lokey’s broader global platform. Financial Institutions Technology, Media, and Telecom 2018 to 2020 M&A Advisory Rankings U.S. Technology, Media, Entertainment & Telecom Transactions Under $5 Billion Advisor Deals 1 Houlihan Lokey 133 Product Capabilities 2 Goldman Sachs & Co 123 3 Raymond James Financial Inc 110 3 Morgan Stanley 110 Sellside and Private Equity Financial Board and Fairness Opinions 5 JP Morgan 108 Buyside M&A and Debt Capital Restructuring and Special Committee and Valuation 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 Brent Ferrin Christian Kent Craig Muir Gagan Sawhney Global Head Head Global Co-Head Managing Director Managing Director Managing Director Managing Director Managing Director Financial Institutions Data and Analytics TMT/Software Data and Analytics Financial Institutions Financial Institutions Data and Analytics Financial Institutions Vik Sood Paul Tracey Eric Weber Rob Losquadro James Rekas Evan Schutz Anna Cotterell Rob Hallot Managing Director Managing Director Managing Director Director Director Director Senior Vice President Senior Vice President TMT/Software Financial Institutions Financial Institutions Financial Institutions Business Services Data and Analytics Data and Analytics Data and Analytics Aaron Solomon Joe Watson Matt Capozzi Alex Fauron Antoine Marie Dakota Frank Andrew Larrabee Jack Denzer Senior Vice President Senior Vice President Vice President Vice President Vice President Associate Associate Financial Analyst Financial Institutions Data and Analytics Financial Institutions Data and Analytics Data and Analytics Data and Analytics Financial Institutions Financial Institutions 4 How We Look at the Fintech Opportunity Asset/ Banking/ Capital Corporate/ Data and Insurance Payments Real Estate/ Wealth Lending Markets Diversified Analytics Mortgage 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 Transaction Pending Transaction Pending Transaction Pending & a division of has agreed to acquire has agreed to be acquired by has been acquired by have partnered to combine has been acquired by a portfolio company of a portfolio company of & has agreed to be acquired by Transaction Nordic Capital to form a new financial data intelligence business Sellside Advisor Sellside Advisor Buyside & Financing Advisor Buyside Advisor Sellside Advisor Sellside Advisor May May May March March February Deal Date 2021 2021 2021 2021 2021 2021 €2.1 billion C$155 million Not disclosed Not disclosed >$500 million $500 million Deal Value ($2.5 billion) ($121 million) SaaS-based Transaction cost Financial data Multi-asset class Technology-driven Tech-enabled digital mortgage analysis (TCA) and competitive trading systems title, escrow, and buy now, pay later origination and and systematic intelligence for and connectivity closing solutions (BNPL) financing customer engagement trading technology the retail and technology for the across origination, solutions for Target platform for lenders for global asset commercial global capital home equity, and consumers and Description and brokers. managers. banking market. markets industry. default products. merchants. Geography Buyside and Sellside Advisor Sellside Advisor Buyside Advisor Sellside Advisor Sellside Advisor Financing Advisor Houlihan Lokey Role Lokey 6 Proven Fintech Track Record With Exceptional Momentum Transaction Pending Transaction Pending Transaction Pending including & has received a minority investment a division of from has agreed to acquire has agreed to be acquired by has been acquired by has been acquired by have partnered to combine has been acquired by a portfolio company of a portfolio company of & Financial Advisor and Placement Agent Sellside Advisor has agreed to be acquired by May 2021 May 2021 May 2021 Mar. 2021 NordicMar. 2021 Capital Feb. 2021 Feb. 2021 Dec. 2020 to form a new financial data intelligence business Sellside Advisor Sellside Advisor Buyside & Financing Advisor Buyside Advisor Sellside Advisor Sellside Advisor has been acquired by has acquired has sold its minority stake in has received an investment by has been acquired by has been acquired by has been recapitalized by has received a $260m structured investment from a portfolio company of a portfolio company of to Macquarie Sellside Advisor Financial Advisor Sellside Advisor Sellside Advisor Sellside Advisor Sellside Advisor Buyside Advisor Sellside Advisor Dec. 2020 Dec. 2020 Dec. 2020 Nov. 2020 Nov. 2020 Nov. 2020 Oct. 2020 Oct. 2020 Protection America Inc. has been acquired by has participated in the Minneapolis Grain Exchange has agreed to merge with PropTech Acquisition Corporation via SPAC has acquired an investment in Series A has acquired a majority stake in combination Senior Secured Notes has been acquired by a portfolio company of Growth Capital Series B financing round Growth Equity $50,000,000 $40,000,000 Preferred Equity Placement Agent Financial Advisor Sellside Advisor Advisor to Special Committee Financial Advisor Exclusive Financial Advisor & Placement Agent Financial Advisor Exclusive Placement Agent Oct. 2020 Aug. 2020 June 2020 May 2020 Mar. 2020 Mar. 2020 Mar. 2020 Feb. 2020 Unit4 VerzuimSignaal B.V. Funds managed by a subsidiary of have entered into an agreement to combine has been acquired by has completed a recapitalization has been acquired by the venture capital arm of a portfolio company of with has acquired has been acquired by and the parent company of has been acquired by Portag3 Ventures II LP $400,000,000 Sellside Advisor Placement Agent* Sellside Advisor Sellside Advisor* Fairness Opinion Buyside Advisor Fairness Opinions Sellside Advisor Dec. 2019 Nov. 2019 Sept. 2019 Sept. 2019 Sept. 2019 Sept. 2019 June 2019 May 2019 Note: List of transactions shown is illustrative, not exhaustive. *Denotes transaction executed by firms acquired by Houlihan Lokey. 7 Proven Fintech Track Record With Exceptional Momentum (cont.) LenderLive Network a portfolio company of a portfolio company of a portfolio company of a portfolio company of has sold a division of Lowell has sold its payments has been acquired by business unit in the Nordics to has been acquired by has been acquired by has received a minority investment from has been acquired by has been acquired by to Undisclosed Investor Group Sellside Advisor Sellside Advisor Sellside Advisor Sellside Advisor Sellside Advisor* Sellside Advisor Sellside Advisor Sellside Advisor Apr. 2019 Mar. 2019 Mar. 2019 Mar. 2019 Feb. 2019 Jan. 2019 Jan. 2019 Dec. 2018 has received an investment from a portfolio company of has acquired has acquired a majority interest in has been acquired by has been acquired by has been acquired by has been acquired by has been acquired by and ELLIOTT Buyside Advisor Financial Advisor Sellside Advisor* Sellside Advisor Sellside
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