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Fintech Monthly Market Update

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Fintech Monthly Market Update JANUARY 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 in partnership with the industry’s leading FIG franchise, further supported by the extensive resources and relationships of Houlihan Lokey’s broader global platform. 2015–2019 M&A Advisor Rankings 75+ Global 51 (1) dedicated fintech/FIG single specialized completed or announced North America & Europe FIG M&A bankers based in London, practice across fintech M&A and private Disclosed Deal Value Up to $1 Billion New York, Los Angeles, the world placement transactions Miami, and San Francisco since 2019 Rank Advisor Deals 1 Houlihan Lokey, Inc. 59 2 Barclays Capital Inc. 48 3 Piper Sandler Companies 47 Source: SNL Financial. (1) Rankings exclude depository transactions. Product Capabilities M&A Advisory (Sellside and Buyside) Private Capital Markets (Debt and Equity) Financial Restructuring Board and Special Committee Advisory Fairness Opinions and Valuation 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 Tara Carter Christian Kent Craig Muir Gagan Sawhney Eric Weber Brent Ferrin Global Head, Head, Managing Director, Managing Director, Managing Director, Managing Director, Managing Director, Director, Financial Institutions Data & Analytics Data & Analytics Financial Institutions Data & Analytics Financial Institutions Financial Institutions Financial Institutions Vik Pandit 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 TMT / Software 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, not exhaustive. Tombstones included herein represent transactions closed from 2018 forward. 5 Recent Houlihan Lokey Transaction Spotlight Transaction Pending has entered into an agreement to sell its minority stake in has invested in has been acquired by to Transaction Transaction Pending Transaction Pending Buyside Advisor and Financing Advisor Sellside Advisor Sellside Advisor including has been acquired by has agreed to be acquired by February December December December has agreed to be acquired by December December December Deal Date 2021 2020 2020 2020 2020 2020 2020 Sellside Advisor Sellside Advisor Sellside Advisor C$155 million A$260 million Not Disclosed £508 million Not Disclosed Not Disclosed Not Disclosed Deal Value Tech-enabled Consumer credit Cloud-based human Global network Cryptocurrency Pension and Specialist disputes buy now, pay later registry operator and resources, payroll, of online price trading platform and investment and expert advisory (BNPL) financing analytics solutions recruitment, and comparison portals liquidity provider for consulting services firm of construction, solutions for across Australia and learning software for for financial institutional market and related technology, consumers and New Zealand businesses and services products participants technology/analytics accounting, and Target merchants their employees financial services Description professionals Geography Buyside Advisor and Sellside Advisor Financial Advisor Sellside Advisor Sellside Advisor Sellside Advisor Sellside Advisor Financing Advisor Houlihan Lokey Role Lokey 6 Proven Fintech Track Record With Exceptional Momentum Transaction Pending has received an investment by has entered into an agreement to sell its minority stake in has invested in has been acquired by Sellside Advisor to Feb. 2021 Dec. 2020 Dec. 2020 Dec. 2020 Dec. 2020 Dec. 2020 Dec. 2020 Nov. 2020 Nov. 2020 Oct. 2020 has been acquired by has completed a recapitalization Banking/Lending Data and Analyticswith Corporate/Diversified Data and Analytics Capital Markets Asset/Wealth Corporate/Diversified Capital Markets Insurance has agreedData to merge with andPropTech Analytics Transaction Pending Transaction Pending Acquisition Corporation via SPAC combination Buyside Advisor and Financing Advisor Sellside Advisor Sellside Advisor a portfolio company of including Unit4 Wholesale B.V. Protection America Inc. has been acquired by has been acquired by has agreed to be acquired by a subsidiary of 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 Minneapolis Grain Exchange a portfolio company of has acquired has acquired an investment in has acquired a majority stake 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 a leading U.K. pension and investment advisory business Buyside Advisor Placement Agent Sellside Advisor Financial Advisor Sellside Advisor Sellside Advisor Financial Advisor Financial Advisor Financing Advisor Oct. 2020 Oct. 2020 Oct. 2020 Aug. 2020 July 2020 June 2020 May 2020 Mar. 2020 Mar. 2020 Mar. 2020 Insurance Insurance Corporate/Diversified Capital Markets Corporate/Diversified Asset/Wealth Real Estate/Mortgage Asset/Wealth Banking/Lending Asset/Wealth Transaction Pending Unit4 VerzuimSignaal B.V. a subsidiary of and its wholly-owned subsidiary has been acquired by European Servicing the venture capital arm of a portfolio company of has been acquired by Series A has invested in Senior Secured Notes has agreed to be acquired by Growth Capital have been acquired by the parent company of Growth Equity has been acquired by Portag3 Ventures II LP $400,000,000 $50,000,000 $40,000,000 Preferred Equity Exclusive Financial Advisor & Placement Agent Financial Advisor Exclusive Placement Agent Sellside Advisor Placement Agent* Sellside Advisor Sellside Advisor* Sellside Advisor* Sellside Advisor Mar. 2020 Feb. 2020 Feb. 2020 Jan. 2020 Dec. 2019 Nov. 2019 Nov. 2019 Sept. 2019 Sept. 2019 Sept. 2019 Banking/Lending Asset/Wealth Banking/Lending Banking/Lending Fintech Fund Corporate/Diversified
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