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THE FINTECH for BANKS Fintech Infrastructure Helps Startups and Banks

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THE FINTECH for BANKS Fintech Infrastructure Helps Startups and Banks 1 WITHIN 24 HOURS Webinar recording will be distributed The presentation will also be sent to you. Feel free to share with colleagues. The resolution of some slides may be suboptimal due to the webinar software. Those slides will look fine in the presentation that we send you. http://support.citrixonline.com/en_US/Webinar 2 JOIN THE CONVERSATION ON TWITTER @cbinsights @mlcwong #futurefintech 3 W H O W E A R E The technology market intelligence platform. CB Insights software lets you predict, discuss, and communicate emerging technology trends using data in ways that are beyond human cognition. We are a leader in the Expert Automation & Augmentation Software (EAAS) space. 4 TRUSTED BY THE WORLD’S LEADING COMPANIES “We use CB Insights to find emerging trends and interesting companies that might signal a shift in technology or require us to reallocate resources.” Beti Cung, Corporate Strategy, Microsoft 5 JUNE 19 – 21, 2018 I NYC, NY The Future of Fintech is an exclusive gathering of the world's largest financial institutions, top fintech startups, and most active venture investors. 6 ABOUT THE ANALYST Matthew Wong Lead Intelligence Analyst, CB Insights @mlcwong | [email protected] Matthew Wong is a lead intelligence analyst at CB Insights, where he manages a team of research analysts covering startup and venture capital trends in financial services and real estate. He currently manages CB Insights Insurance Tech newsletter, which reaches 22K+ insurance executives, investors and professionals. Matt's published industry research and analysis have been featured in The New York Times, The Wall Street Journal, Bloomberg, CNBC and The Financial Times and he has appeared on Bloomberg TV and Business News Network. Matthew is a magna cum laude graduate of Northwestern University. 7 Contents 10 2017 Year-in-review 27 2018 Trends to Watch: Annual Deals & Dollars What to watch for in 2018 Regional Trends Where investors are placing bets in fintech Fintech unicorns Which markets will see fintech emergence 2017 Top VC-Backed Fintech Deals How incumbents will act 2017 Most Active Fintech Investors Fintech Exits: IPO & M&A 8 WHAT FINTECH COVERS Payments processing, card developers, Alternative underwriting, claims, & subscription billing software tools distribution, and/or brokerage platforms Tools to manage bills and track Sales & trading, analysis, and infrastructure personal and/or credit accounts tools for financial institutions PAYMENTS/ INSURANCE BILLING PERSONAL CAPITAL FINANCE MARKETS Audit, risk, and regulatory Investment and wealth management compliance software platforms and analytics tools WEALTH REGTECH MANAGEMENT Companies leveraging blockchain MONEY International money transfer technologies for financial services BLOCKCHAIN/ TRANSFER/ and tracking software CRYPTO REMITTANCES MORTGAGE/ LENDING REAL ESTATE Peer-to-peer lending & alternative Mortgage lending, digitization, and financing platforms underwriting platforms 2018 FINTECH TRENDS REPORT 9 First, a look at what happened in 2017… 1. Global fintech financing hit a new record 2. Europe saw the biggest fintech funding jump 3. US early-stage fintech deals fell as investors made more concentrated bets 10 FINTECH DEALS AND FUNDING HIT NEW HIGHS 2017 was a record year for VC-backed fintech Annual global fintech deals and financing, 2013 – 2017 ($B) 1128 1023 951 788 594 $3.8 $8.0 $14.3 $13.8 $16.6 2013 2014 2015 2016 2017 11 Q4’17 SAW A FOUR - QUARTER LOW FOR GLOBAL VC- BACKED FINTECH DEALS Despite the annual rise, global VC-backed fintech deals fell for second straight quarter in Q4’17 294 289 277 288 254 258 260 270 225 241 233 224 214 204 187 166 169 173 134 136 123 103 12 Europe fintech funding grew over 120% in 2017… Global VC-backed fintech funding share by continent 2013 – 2017 ($M) +121% YoY $2,676 $1,765 $1,210 -10% YoY $4,127 $5,794 $1,262 $6,438 $1,065 $801 $377 $2,583 $5,570 $8,281 $5,891 $7,837 2013 2014 2015 2016 2017 North America Asia Europe Africa Australia South America 13 …while Asia funding fell for the first time in 4 years Annual funding to VC-backed fintech companies, 2013 – 2017 ($M) $8,281 North $7,837 America $6,438 $5,570 $5,794 Asia $5,891 $4,127 -10% YoY $2,583 $2,676 Europe $1,765 $1,262 $1,210 $801 $1,065 $377 2013 2014 2015 2016 2017 14 Early-stage fintech deal share drops to 5-year low Annual deal share by stage to global VC-backed fintech companies, 2013 – 2017 9% 8% 10% 11% 13% Other 8% 8% 8% 7% 9% Late-Stage 16% 19% 21% 20% Mid-Stage 20% Early-Stage 67% 65% 61% 61% 58% 2013 2014 2015 2016 2017 15 EARLY - STAGE FINTECH ACTIVITY STILL STRONG IN ASIA & EUROPE US early-stage fintech deals hit a 5-year low Annual Seed and Series A deals to VC-backed fintech startups, 2013 – 2017 - 23% YoY 314 302 310 256 North 243 America 190 Europe 142 171 Asia 127 137 95 121 69 93 55 2013 2014 2015 2016 2017 16 2017: 35 FINTECH MEGA - ROUNDS TOTAL $7.76B Investors made more concentrated fintech bets Global number of fintech mega-rounds ($100M+), 2013 – 2017 20 17 11 9 8 8 5 4 3 3 2 1 1 0 0 2013 2014 2015 2016 2017 North America Asia Europe 17 Top 10 global fintech deals in 2017 SoftBank led or participated in three of the top 10 deals to VC-backed fintech companies in 2017 Deal Date // Total Disclosed Company Amount Funding (M) Select Investors Description May’17 // $1.4B $2.7B SoftBank Group Mobile payments and commerce platform ($7B Valuation) Feb’17 // $500M $2.2B SoftBank Group, GPI Online lending platform ($4.49B Valuation) Capital, Silver Lake Partners Jun’17 // $300M $574M MasterCard Worldwide, Billing, expense management, and accounting software ($1.24B Valuation) Temasek Holdings provider May’17 // $292M $347M China Minsheng Peer-to-peer (P2P) lending platform ($1.46B Valuation) Investment, Yisheng Innovation Nov’17 // $280M $396M Andreessen Horowitz, Index Digital P2P money transfer platform ($1.6B Valuation) Ventures, Valar Ventures 18 Top 10 global fintech deals in 2017 (continued) Alternative lending companies made up 7 of the top 10 deals in 2017 Deal Date // Total Disclosed Company Amount Funding (M) Select Investors Description Aug’17 // $250M $2.45B SoftBank Group, BlueRun Digital small and medium sized business (SMB) lender Ventures, Thomvest Ventures Aug’17 // $220M $439M China Minsheng Peer-to-peer (P2P) loan and financial services platform Investment, Simone for small and medium enterprises in China Investment Managers Nov’17 // $220M $425M Alibaba Entrepreneurs Mobile lending platform serving customers in Asia with Fund, International Finance a focus on China and Singapore Corporation, China Construction Bank, Dec’17 // $200M $725M Founders Fund, Khosla Alternative lending platform for point-of-sale financing Ventures, Lightspeed Venture Partners, Ribbit Capital, Spark Capital Dec’17 // $200M $610M QED Investors, Roark Consumer finance marketplace, specializing in the ($1.78B Valuation) Capital Group, TPG Capital home improvement, retail, and healthcare industries 19 25 fintech unicorns valued at $75.9B Global VC-backed fintech companies with a private market valuation of $1B+ EUROPE UNITED KINGDOM SWEDEN NETHERLANDS NORTH AMERICA UNITED STATES $1.1B Valuation $1B $2.5B $2.3B $1.79B Valuation $1.3B ASIA CHINA $1.56B $1B $1.4B $1.46B $1.2B $1B $2.7B $9.2B $1B Valuation $1B $4.5B $18.5B $1B $2B (as of Q2’15) INDIA $7B $3.5B $3.6B $2.4B (as of Q4’14) $1.9B 20 2017 Sees 8 Fintech Unicorn Births Global VC-backed fintech companies that notched a private market valuation of $1B+ in 2017 EUROPE UNITED KINGDOM SWEDEN NETHERLANDS NORTH AMERICA UNITED STATES $1.1B Valuation $1B $2.5B $2.3B $1.79B Valuation $1.3B ASIA CHINA $1.56B $1B $1.4B $1.46B $1.2B $1B $2.7B $9.2B $1B Valuation $1B $4.5B $18.5B $1B $2B (as of Q2’15) INDIA $7B $3.5B $3.6B $2.4B (as of Q4’14) $1.9B 21 Chinese firms drive fintech IPOs in 2017 Largest investor-backed fintech IPOs in 2017 Total Disclosed Funding (M) Company Exit Type Deal Date // Valuation Valuation Pre-Exit Select Investors IPO Q3’17 // $11B $931M Alibaba Group, Tencent, Ping An Insurance, CDH (6060.HK) ($8B Valuation) Investments, Morgan Stanley, CICC, Keywise Capital, SAIF Partners IPO Q3’17 // $7.9B $954.7M Ant Financial Services Group, Beijing Phoenix (NYSE: QD) ($1.22B Valuation) Wealth Holding Group, Hangzhou Liaison Interactive and Kunlun Worldwide IPO Q4’17 // $3.9B $101.3M Sequoia Capital China, Alibaba Group, Lightspeed (NYSE: PPDF) China Partners, Legend Capital, SIG Asia Investments IPO Q4’17 // $1.95B $345M Matrix Partners China, JD.com, DST Global, China (NASDAQ: LX) Renaissance Capital, K2 Ventures, Huasheng Capital, Bertelsmann Asia Investments IPO Q4’17 // $1.3B $186M KPCB China, Zero2IPO Capital, Lightspeed China (NYSE: JT) ($808M Valuation) Partners, Sequoia Capital China, Temasek Holdings, Sailing Capital, Yunfeng Capital 22 No billion-dollar fintech M&A in 2017 Notable investor-backed fintech acquisitions in 2017 Total Disclosed Company Deal Date // Valuation Funding (M) Acquirer Description Q3’17 // $850M $174.8M Cloud financial management software Q4’17 // $220M - 400M $74.2M Integrated payments provider for SaaS and crowdfunding platforms Q4’17 // $275M $40M Cyber risk modelling and analytics Q1’17 // $100M N/A Offline-to-online payments Q1’17 // $100M N/A Mobile banking services 23 The most active fintech VCs in 2017 By unique fintech company investments (new or follow-on) Rank Investor Select 2017 Fintech Investments 1 2 3 3 3 24 The most active fintech VCs in 2017 (continued) By unique fintech company investments (new or follow-on) Rank Investor Select 2017 Fintech Investments 7 7 7 10
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