FinTech CHECK

Q3 2022

Aperture’s quarterly FinTech Check highlights, and analyzes, movements in the Public and Private FinTech markets.

We segment FinTech into 10 verticals and track price performance, valuation multiples, private funding, and private transactions for an in-depth view of the FinTech market.

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Report features

Compares public FinTech and Embedded Finance companies’ price performance and valuation multiples to NASDAQ 100 and S&P 500.

Breakdown and track relative performance and market capitalization by FinTech vertical.

Explores Embedded Finance and how it compares to the rest of the FinTech market.

Tracks historical private funding into FinTech and quarterly funding per FinTech vertical.

Highlights quarterly fund raises, mergers and acquisitions, SPACs and IPO’s.

Key highlights
+5bps
Fintech has marginally outperformed S&P over the last quarter
$9.3B
Private Fintech funding in Q3’22
17x
More private funding into FinTech over 10 years
$107bn
Embedded payments’ market cap

+5bps Fintech has marginally outperformed S&P500 over the last quarter, suggesting (relative) rout may be over.

-57% Global Fintech down more than twice as much as Nasdaq year-on-year, owing to massive contraction is multiples (EV/Revenue) from 19.84 in Sep’21 to 7.45 Sep’22.

$9.3Bn Private Fintech funding in Q3’22 – in line with pre-Covid funding levels.

-74% SuperApps worst-performing subsegment of Fintech YoY, led by steep drops in Block Inc (down 77%), MoneyLion Inc (down 87%) and Paypal Holdings Inc (down 67%).

17x more private funding into FinTech over 10 years, comparing Q3’12 to Q3’22.

$304Bn Private Fintech funding over 10 years. $129B invested since Q1 2021 alone. Data seems to suggest that the macroeconomic environment is causing a reversion to the trend line, after a very frothy 15-month period (Q1’21 to Q1’22), rather than a total collapse in private funding.

$185Bn Market Cap of Financial management companies, the biggest subsegment in FinTech, and the best 3-month price performance (+13.62%). We are bullish on this subsegment because we see specialist vertical SaaS platforms as big global opportunities in themselves, but also as excellent distribution platforms for embedded finance.

$107Bn Embedded payments’ market cap,the largest embedded finance subsegment, which is reflective of its early role in the embedded finance shift.

The 10 FinTech verticals covered include:
  • Capital Markets
  • Crypto
  • Digital Banking
  • Embedded Finance
  • Financial Management Solutions
  • Insurance
  • Lending and Credit
  • Payments
  • SuperApps
  • Wealth and Trading
From the authors of

The Market Map for Embedded Insurance 2022

The Market Map for Best WealthTech Providers 2021

The Market Map for Best BaaS Providers 2021

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