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FTPartners
|January
2024Featuring:CEOInterviewCEO
MONTHLYMARKETUPDATE&ANALYSISPayments
&Transaction
ProcessingDigital
/Online/Mobile
Payments
●
Processing
&Gateways
●Money
Transfer
●
Point-of-Sale
Technology
●
Fraud/Security●
eCommerce&Loyalty
SolutionsTheOnlyGlobal
Investment
BankFocusedExclusively
onFinTechSteve
McLaughlin|Founder,CEO,
ManagingPartnerContact:steve.mclaughlin@
|415-385-9318©2024Payments
&Transaction
Processing
Market
Update
&AnalysisContentsFTPartners
–FocusedExclusivelyonFinTechFTPartners
isThrilled
to
Sponsor
Fintech
Meetup
2024March
3
–6,2024The
Venetian,
LasVegasFintech
Meetup
hasrevolutionized
howthe
FinTech
sectorconnects,collaborates
anddoes
business
together.
Theconferencebrings
together
5,000+
attendees
andfacilitates45,000+
meetings
through
proprietary
event
technology,
inwhatis
thelargest-ever
FinTech
meetings
program.Join
FTPartners
next
Marchandstaytuned
forexclusiveupdates
onthe
conference
and
co-hosted
events.Details
&RegistrationFTPartners
–FocusedExclusivelyonFinTechTimeline
ofSelected
FTPartners
Payments
TransactionsFTPartners
–FocusedExclusivelyonFinTechGround-Breaking
Payments
Transactions
Pioneered
byFTPartnersFTPartners
–FocusedExclusivelyonFinTechSignificant
Experience
Advising
LargeFinancing
RoundsCompanyAmount
RaisedCompanyAmount
RaisedSelectedProminent
Investors
inFTPartners
LedRoundsFTPartners
–FocusedExclusivelyonFinTechSelected
FTPartners’
International
/
Cross-Border
ExperienceTargetBuyer
/
InvestorInternational
AspectTargetBuyer
/
InvestorInternational
AspectFTPartners
–FocusedExclusivelyonFinTechFTPartners
Advises
Pave
Bank
on
its
Seed
FinancingOverview
of
Transaction•••Significance
of
Transaction••FTPartners’
Role••FTPartners
–FocusedExclusivelyonFinTechFTPartners
Advises
Payzer
on
its
$250million
Sale
to
WEXOverview
of
Transaction••••Significance
of
Transaction••FTPartners’
Role•••••FTPartners
–FocusedExclusivelyonFinTechFTPartners
Advises
SpotOn
onthe
Sale
ofits
Sports
&
Entertainment
Business
to
Shift4Overview
of
Transaction••Sports
&EntertainmentBusinessSignificance
of
Transaction•FTPartners’
Role•••FTPartners
–FocusedExclusivelyonFinTechFTPartners
Advises
C
on
its
Series
C
FinancingOverview
of
Transaction••••Significance
of
Transaction••FTPartners’
Role••FTPartners
–FocusedExclusivelyonFinTechFTPartners
Advises
Judo
on
its
Sale
to
FabrickOverview
of
Transaction••••Significance
of
Transaction••FTPartners’
Role••FTPartners
–FocusedExclusivelyonFinTechFTPartners
Advises
Payspan
onits
Sale
to
ZelisOverview
of
Transaction•••Significance
of
Transaction••FTPartners’
Role••FTPartners
–FocusedExclusivelyonFinTechFTPartners
Advises
Kantox
onits
Sale
to
BNP
ParibasOverview
of
Transaction••••Significance
of
Transaction•FTPartners’
Role••FTPartners
–FocusedExclusivelyonFinTechFTPartners
Advises
Onafriq
(formerly
MFS
Africa)
on
its
$100million
FinancingOverview
of
Transaction••••Significance
of
Transaction•FTPartners’
Role•••FTPartners
–FocusedExclusivelyonFinTechFTPartners
Advises
TabaPay
on
its
Investment
FromSoftBankOverview
of
Transaction••Significance
of
Transaction••FTPartners’
Role••FTPartners
–FocusedExclusivelyonFinTechFTPartners
Advises
Payrix
onits
Sale
to
FISOverview
of
Transaction••̶•Significance
of
Transaction••FTPartners’
Role••FTPartners
–FocusedExclusivelyonFinTechFTPartners
Advises
CloudWalk
onits
$150
million
Series
CFinancingOverview
of
Transaction••••Significance
of
Transaction•FTPartners’
Role••FTPartners
–FocusedExclusivelyonFinTechFTPartners
Advises
Mollie
onits
FinancingOverview
of
Transaction••••••Significance
of
Transaction••FTPartners’
Role••I.
Exclusive
CEOInterviewPayments
&Transaction
Processing
Market
Update
&AnalysisModern
Treasury
Company
OverviewSelectedProducts•−••−•SelectedCustomersPayments
&Transaction
Processing
Market
Update
&AnalysisModern
Treasury
CEOInterviewDimitri
DadiomovCo-Founder
&CEOPayments
&Transaction
Processing
Market
Update
&AnalysisModern
Treasury
CEOInterview
(cont.)Payments
&Transaction
Processing
Market
Update
&AnalysisModern
Treasury
CEOInterview
(cont.)Payments
&Transaction
Processing
Market
Update
&AnalysisModern
Treasury
CEOInterview
(cont.)II.
PublicPaymentsSector
UniversePayments
&Transaction
Processing
Market
Update
&AnalysisPublic
Comparable
Universe
Median
Price
/Earnings
Multiples
by
FTSector2023E
Price
/Earnings
Multiples2024E
Price
/Earnings
MultiplesPayments
&Transaction
Processing
Market
Update
&AnalysisCommonStock
Comparison
–Summary
AnalysisPayments
&Transaction
Processing
Market
Update
&Analysis2023Eand
2024EPrice/
Earnings
MultiplesPayments
&Transaction
Processing
Market
Update
&AnalysisCommonStock
ComparisonPayments
&Transaction
Processing
Market
Update
&AnalysisCommonStock
Comparison(cont.)Payments
&Transaction
Processing
Market
Update
&AnalysisCommonStock
Comparison(cont.)Payments
&Transaction
Processing
Market
Update
&AnalysisCommonStock
Comparison(cont.)Payments
&Transaction
Processing
Market
Update
&AnalysisCommonStock
Comparison(cont.)Payments
&Transaction
Processing
Market
Update
&AnalysisCommonStock
Comparison(cont.)Payments
&Transaction
Processing
Market
Update
&AnalysisCommonStock
Comparison(cont.)Payments
&Transaction
Processing
Market
Update
&AnalysisCommonStock
Comparison(cont.)Payments
&Transaction
Processing
Market
Update
&AnalysisCommonStock
Comparison(cont.)III.
U.S.PaymentsIPO
TrackerPayments
&Transaction
Processing
Market
Update
&AnalysisU.S.
Payments
IPO
TrackerAmountRaised($
inmm)CurrentMarketCap($
inmm)IPOPriceCurrentPriceTotalReturnResearchProfileFiling
DateIPODateCompanyVIEWVIEWVIEWVIEWVIEWVIEWVIEWVIEWVIEWVIEWVIEWVIEWVIEWVIEWVIEWVIEWIV.
Monthly
DealActivity
InsightsFTPartners’
MonthlyDealActivityInsightsPayments
Financing
StatisticsMonthly
Financing
Volume
andDeal
CountAverage
DealCountPer
Month:29($inbillions)Dollar
VolumeDeal
CountStripeRaises$6.9
billion$8.0$7.53853$7.0$6.04740393837$5.0$4.0$3.0$2.0$1.0$0.0333231302927272728252522212118161514$2.1$0.6$0.6$0.6$1.9$0.4$0.5$0.3$0.4$0.2$0.4$1.5$1.5$0.3$0.1$0.3$0.1$0.1$1.3$1.2$1.1AnnualFinancing
Volume
andDeal
CountSelectedLargestFinancings
in
2023($inbillions)Dollar
VolumeDeal
CountCompanyAmount
($inmm)DescriptionCountryUSAUSAIndiaUK467$25402Merchant
Acquiring
/PaymentProcessing$6,8691,050850$20298Check-Out
FreePaymentsforParking$15$10$5246244253MobilePayments$12.1307SMBPaymentsSystemPaymentsforPropertyTransactions$0174UKFTPartners’
MonthlyDealActivityInsightsPayments
M&A
StatisticsMonthly
M&A
Volume
andDeal
CountAverage
DealCountPer
Month:16($inbillions)Dollar
VolumeDeal
Count$20$18$16$14GTCRacquiresWorldpayatavaluation
of$18.829$18.5
billion262221201919$121818171817151515$10$8$6$4$2$0131212121111111086$7.5$5.7$1.5$1.1$1.1$0.8$0.8$0.7$0.7$0.9$3.7$0.3$0.1$0.4$0.1$0.4$0.0$0.0$0.0$0.0$0.0AnnualM&A
Volume
andDeal
CountSelectedM&A
Deals
in2023($inbillions)Dollar
VolumeDeal
CountAmount($
inmm)TargetBuyerTargetCountry$135$120243$18,5002,7601,300610USAUAE222$105$90194186158$75$60$45$30$15$0153USANetherlandsUK$27.6542V.
M&ATransactionsPayments
&Transaction
Processing
Market
Update
&AnalysisSelected
Large
/Significant
M&A
TransactionsMERGERS
&ACQUISMI
TEIROGNESRS
&ACQUISITIONSAmount($mm)Announced
DateTransaction
OverviewCompanySelectedBuyers/InvestorsResearchProfileVIEWVIEWVIEWVIEWVIEWVIEWVIEWVIEWPayments
&Transaction
Processing
Market
Update
&AnalysisHighlighted
Recent
M&A
TransactionsMERGERS
&ACQUISITIONSDateAcquirer
/TargetValue
($
mm)Comments••••••••VIEW
RESEARCHPROFILE•••VIEW
RESEARCHPROFILE•••••VIEW
RESEARCHPROFILEPayments
&Transaction
Processing
Market
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&AnalysisHighlighted
Recent
M&A
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(cont.)MERGERS
&ACQUISITIONSDateAcquirer
/TargetValue
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&Transaction
Processing
Market
Update
&AnalysisSelected
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&ACQUISITIONSAmount($mm)Announced
DateTransaction
OverviewCompanySelectedBuyers/InvestorsPayments
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Processing
Market
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&AnalysisSelected
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M&A
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(cont.)MERGERS
&ACQUISITIONSAmount($mm)Announced
DateTransaction
OverviewCompanySelectedBuyers/InvestorsPayments
&Transaction
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Market
Update
&AnalysisFinTech
SPAC
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Tracker#ofFinTechSPAC
MergersGlobal
BlockchainAcquisition
Corp.VahannaTechEdgeAcquisition
ICorp.VIEWFinTech
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Acquisitions
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HoldingsVIEWPayments
&Transaction
Processing
Market
Update
&AnalysisFinTech
SPAC
Merger
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FinancingTransactionsPayments
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&AnalysisSelected
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&ACQUISITIONSAmount($mm)Announced
DateTransaction
OverviewCompanySelectedBuyers/InvestorsResearchProfileVIEWVIEWVIEWVIEWVIEWVIEWVIEWVIEWPayments
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Processing
Market
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&AnalysisHighlighted
Transactions
During
the
MonthPAYMENTSDateTarget
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mm)Comments••••••••••••VIEW
RESEARCHPROFILE••••Payments
&Transaction
Processing
Market
Update
&AnalysisHighlighted
Transactions
During
the
Month
(cont.)PAYMENTSDateTarget
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($
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RESEARCHPROFILE••••••VIEW
RESEARCHPROFILE••Payments
&Transaction
Processing
Market
Update
&AnalysisSelected
Recent
Financing
TransactionsPAYMENTSAmount($mm)Announced
DateTransaction
OverviewCompanySelectedBuyers/InvestorsPayments
&Transaction
Processing
Market
Update
&AnalysisSelected
Recent
Financing
Transactions
(cont.)PAYMENTSAmount($mm)Announced
DateTransaction
OverviewCompanySelectedBuyers/InvestorsİİVII.
KeyUpcomingIndustryConferencesPayments
&Transaction
Processing
Market
Update
&AnalysisKey
Industry
Conferences
&
EventsDateConferenceLocationWebsiteFINTECH
INDIAEXPO2024E-COMMERCE
BERLINEXPO2024FINTECH
MEETUPMerchantPayments
Ecosystem(MPE)Payments
&Transaction
Processing
Market
Update
&AnalysisUpcoming
Industry
Conferences
&EventsDateConferenceLocationWebsiteJanuaryFebruaryMarchVIII.Overview
ofFTPartnersFTPartners
–FocusedExclusivelyonFinTechSelected
FTPartners’
VIPVideo
ConferencesFinTech
in
IndiaB2B
FinTechStateofFinTech
2023Women
inFinTech
2023DemystifyingFundraising
forWomen
inFinTechFinTech
in
Africa
2023Women
inFinTech
2022TheState
of
FinTech
Investingin2022Stablecoins:The
Fabric
ofaNew
Global
PaymentsInfrastructureHealthcare
Payments:Consumerization
&Digitization
CreateaMassiveFinTech
OpportunityWomen
inFinTech
–Redefining
theChallenger
Banks
—TheFuture
ofFinTechStateofPlayFTPartners
–FocusedExclusivelyonFinTechFTPartners
Research
–FinTech
inIndiaFinTech
inIndia:
ADigital
GoldRush•••••Clickpictures
to
view
reportFTPartners
–FocusedExclusivelyonFinTechFTPartners
Research
–Q3
2023
FinTech
InsightsQ32023FinTech
Insights:Global
Financing
and
M&AStatisticsHighlightsof
thereportinclude:•••••Click
picturesto
view
reportFTPartners
–FocusedExclusivelyonFinTechFTPartners
Research
–Innovations
in
Payroll
and
Human
Capital
ManagementInnovations
in
Payroll
andHuman
Capital
Management•••••Click
picturesto
view
reportFTPartners
–FocusedExclusivelyonFinTechFTPartners
Research
–Women
inFinTech:
Rising
StarsWomen
in
FinTech:
Rising
StarsClickpictures
to
view
reportFTPartners
–FocusedExclusivelyonFinTechFTPartners
Research
–2022
FinTech
Almanac2022FinTech
Insights:Highlightsof
thereportinclude:Global
Financing
and
M&AStatistics••••••Click
picturesto
view
reportFTPartners
–FocusedExclusivelyonFinTechFTPartners
Research
–FinTech
inAfricaFinTech
inAfrica:
MomentumisBuildingand
theWorldisTaking
Notice••••Clickpictures
to
view
reportFTPartners
–FocusedExclusivelyonFinTechFTPartners
Research
–Blockchain
Accounting
&
TaxSolutionsBlockchain
Accounting
&Tax
Solutions:Automation
for
theDigital
AssetsEcosystem••••Clickpictures
to
view
reportFTPartners
–FocusedExclusivelyonFinTechFTPartners
Research
–B2B
PaymentsB2BPayments:The
LastMajorBastion
of
Paper-basedPayments
and
Processes••••Click
picturesto
view
reportFTPartners
–FocusedExclusivelyonFinTechFTPartners
Research
–The
Blockchain
EconomyThe
Blockchain
Economy:HowCryptocurrenciesandBlockchain
Technology
AreRedefining
Existing
Markets
andCreating
NewOnes•••Click
picturesto
view
report•FTPartners
–FocusedExclusivelyonFinTechFTPartners
Research
–Women
inFinTech
2022Women
in
FinTech
2022:Redefining
theFuture
of
FinTech•••••Click
picturesto
view
reportFTPartners
–FocusedExclusivelyonFinTechFTPartners
Research
–The
Race
to
the
Super
AppThe
Race
tothe
Super
App•••Click
picturesto
view
reportFTPartners
–FocusedExclusivelyonFinTechFTPartners
Research
–Buy
Now
Pay
LaterBuyNowPay
Later:RevolutionizingTraditional
CreditWithConvenience,
Data
&
eCommerce••••Click
picturesto
view
report•FTPartners
–FocusedExclusivelyonFinTechFTPartners
Research
–A
Flurry
ofActivity
inRestaurant
TechAFlurryofActivityinRestaurant
Tech•••••Click
picturesto
view
reportFTPartners
–FocusedExclusivelyonFinTechFTPartners
Research
–Open
BankingOpenBanking:Rearchitecting
theFinancial
Landscape••••Click
picturesto
view
report•FTPartners
–FocusedExclusivelyonFinTechFTPartners
Research
–Healthcare
PaymentsHealthcare
Payments:Consumerization
and
Digitization
Create
aMassive
FinTechOpportunity•••••Click
picturesto
view
report•FTPartners
–FocusedExclusivelyonFinTechFTPartners’
Client
TestimonialsFTPartners
–FocusedExclusivelyonFinTechFTPartners’
Client
Testimonials
(cont.)FTPartners
–FocusedExclusivelyonFinTechAward-Winning
Investment
Bank
Focused
on
Client
ResultsQEDInvestorsAvidXchangeTruebill“From
the
time
we
began
having
externalconversations
rightup
tothe
moment
wesigned
adefinitive
deal,
FTPartners
wereinvaluable
partners.
They
brought
notonlystrategic
advicebutalso
workedtirelesslyhelping
executeallthewaytoclosing.
Ican’timagine
trying
tonavigate
thisprocesswithout
them.”“We
hired
FTPartners
backin2009,and
our
Boardfeels
thathiring
FTPartners
wasoneofthemoststrategic
decisions
wecould
have
madealong
thisjourney.They
have
been
tremendous
partners
for
us,and
we
are
delighted
withthem
on
every
level.”“Wherever
aboard
or
amanagement
teamhassteered
awayfrom
hiring
FTPartners
italways
seems
toend
up
in
tears.
Here’stoyouandeverything
youdo.”Michael
Praeger,
CEO,
AvidXchangeHaroon
Mokhtarzada,
Co-Founder
and
CEONigelMorris,Managing
PartnerConsistentRecognition
Throughthe
YearsBloombergM&A
Advisor
AwardsSiliconValley’sMostLendItFinTechIndustryTheFinTechFinance
40TheM&A
AtlasAwardsPopularDealmakersAwardsFTPartners’SteveMcLaughlinwas
featured
onBloombergOver
10
awards
includingTechDeal
oftheYear(2019)
andInvestment
Banking
FirmoftheYear
(2016)SteveMcLaughlin
ranked
#1
in2017
and20182020
LargeSPAC
Deal
oftheYearRanked
#2Tech
InvestmentBanker
in2016Top
Investment
BankinFinTechin
2018View
thefull
article
and
watchthelive
TVinterview2020
Corporate
M&ADeal
oftheYearFTPartners
–FocusedExclusivelyonFinTechFTPartners’
DisclaimerDisclaimer:
Thesematerialsmay
notbe
relied
upon
byany
personor
entity
forany
purposeexcept
asexpresslypermitted
byFinancial
TechnologyPartnersLP
anditssubsidiaries
(including
but
notlimited
toFTPSecurities
LLC
andFinTechPartnersLtd,collectively
“FT
Partners”)inawrittenagreement
with
FTPartners.
Thesematerialsare
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on
be
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