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1、Page/1 Source:Dealroom.co Sign upLive eventOr rewatch etc if we send it out after eventEmbedded Finance 101by Lorenzo ChiavariniFintech Q3 2022 REPORTOctober 2022Page/2 Leading fintech corporate venture fund.ABN AMRO Ventures is the corporate venture fund of ABN AMRO Bank,a leading bank in the Nethe
2、rlands.The 150m balance sheet fund invests in the most relevant up-and-coming technology companies to boost and accelerate innovation for the bank and its clients.The collaboration between the fund and the portfolio companies goes far beyond capital:ABN AMRO Ventures actively provides knowledge and
3、expertise,access to the bank and its systems,support from relevant specialists inside and outside ABN AMRO,as well as an extensive external network.Global startup&venture capital intelligence platform.Dealroom.co is the foremost data provider on startup,early-stage and growth company ecosystems in E
4、urope and around the globe.Founded in Amsterdam in 2013,we now work with many of the worlds most prominent investors,entrepreneurs and government organizations to provide transparency,analysis and insights on venture capital activity.In October 2015,the corporate venture fund was launched under the
5、name ABN AMRO Digital Impact Fund with an initial size of 10 millionExamples of portfolio companiesPage/3 Check out our previous reports.The Rise of Embedded FinanceFintech 2021 report Fintech-enabled marketplaces 2021Coinbase:the king of crypto goes publicThe State of European Insurtech 2022Page/4
6、The public market is frozen for fintech,M&A still show strong activityThe public market has nearly frozen for fintech startups,and we have seen PE groups taking public fintech back to private.M&A has slowed down in respect to the peak in 2021 and early 2022,but still higher than 2020 levels.In Octob
7、er 2015,the corporate venture fund was launched under the name ABN AMRO Digital Impact Fund with an initial size of 10 millionFintech hit by market downturn.Fintech startups raised just$13.3B globally in Q3 2022,down 64%from all-time-high in Q4 2021,back to pre-pandemic levels.Fintech has been surpa
8、ssed by health as the most invested industry worldwide in Q3.Much of this is due to megarounds down 79%YoY.Also the median ticket size has collapsed at late stage,while Seed and Series A show more resilience.What happened in fintech in Q3 2022.Global fintech VC fundingNumber of fintech acquisitionsF
9、intech funding by sector Q3 2022Crypto and DeFiPaymentsInsurtechMortgages&LendingWealth managementFinancial management solutionsBankingRegtech-43%$4.6B$4.0B$3.2B$2.2B$2.1B$1.7B$0.5B4Q32021Q32022$13.3B$23BQ12022$35B$37B$35BTo update134InsurtechRegtech$1.7B$0.5B-53%-54%Q32021Q3 2022Q12022Pa
10、yments are still king,insurtech rebounce.All fintech segments are down from last quarter,except for insurance which held on par thanks to Wefox and Pie Insurance megarounds,making 2 of the 4 largest rounds in Q3.Payments are still the top sector for fintech VC funding,followed by Crypto and DeFi.-7%
11、-10%-54%-8%-51%-23%-53%-54%-40%+0%-18%-50%-66%-44%-61%To be done at the endFintech hit bad,especially in Q3(till Q2 was holding on,lag etc).Unicorn slowed massively,public listings frozen,but lot of interesting M&AMostly hit consumer and cash-heavy business models(BNPL,trading apps,neobanks etc),B2B
12、 and especially SaaS performing better.$13.3B$23B$35B$37B$35B$3.4B$2.8B$2.1B$1.8B$1.7B$1.4B$1.4B$0.2BFintech VC funding in Q3 20221Table of contents23Fintech trends in Q3 2022Regional insights 1Fintech VC funding in Q3 2022Page/7 LEGEND TEXT TOP ALIGNMENT SUBTITLE TEXT BOTTOM ALIGNMENT TITLE BOX BOT
13、TOM ALIGNMENT YEAR TEXT BOTTOM LINE CONTENT(GRAPH)BOTTOM LINE TITLE BOX LEFT LIMIT TITLE BOX RIGHT LIMIT Fintech startups raised$13.3B globally in Q3 2022,down 64%from all-time-high in Q4 2021,back to pre-pandemic levels.Source:Dealroom.co Wealth management platform$1.4BTrading market maker$1.2B Pay
14、ments platform$1.0BBaaS$620MInstitutional crypto platform$550MSME finance486MEthereum app and infrastructure builder$450MEthereum scaling and infrastructure$450MCrypto exchange$400MDone$10B$40B$250m+$100250m$40100m(series C)$1540m(series B)$415m(series A)$14m(seed)$01m(pre-seed)GrowthBreakoutEarlyGl
15、obal venture capital investment in fintech startups view online2017Q4Q32018Q4Q3Q2Q12019Q4Q3Q2Q12020Q4Q3Q2Q12021Q4Q3Q2Q12022Q3Q2Q1$30B$20B$13.3B$23B$35B$12.7B$37B$35BFintech startups who raised the most in Q3 2022https:/app.dealroom.co/transactions.rounds/f/growth_stages/not_mature/rounds/not_GRANT_S
16、PAC%20PRIVATE%20PLACEMENT/tags/not_outside%20tech/growth_stages/not_mature/rounds/not_GRANT_SPAC%20PRIVATE%20PLACEMENT/slug_locations/anyof_france/tags/not_outside%20tech/years/anyof_2022?showStats=YEAR&sort=-amount view onlinePage/9 Health is ahead of fintech as the most funded industry for the fir
17、st time since the beginning of 2021.Fintech funding has fallen 62%YoY,1.4x more than the average for VC funding.Source:Dealroom.co$4BHealthGlobal VC funding by industry,Q3 2022VC funding growth by Industry,Q3 2022 vs Q3 2021FintechEnergyTransportationMarketingFoodSecurityReal EstateSemiconductor$16.
18、7B$13.4B$10.4B$6.3B$4.9B$4.4B$3.2B$2.7B$2.6BTotal VC Funding+28%+1%-35%-46%-52%-58%-62%-65%-66%-46%SemiconductorEnergyHealthMarketingReal EstateSecurityFintechTransportationFoodTotal VC Funding-32%-38%+105%-54%-17%-23%-40%+48%+13%-21%FintechHealthEnergyTransportationSecurityMarketingFoodGamingReal e
19、state3.1x2.0 x1.8x1.3x1.3x1.3x1.2x1.1x1.1x1.0 x-1.0 x-0.9x-0.7xDonePage/10 LEGEND TEXT TOP ALIGNMENT SUBTITLE TEXT BOTTOM ALIGNMENT TITLE BOX BOTTOM ALIGNMENT YEAR TEXT BOTTOM LINE CONTENT(GRAPH)BOTTOM LINE TITLE BOX LEFT LIMIT TITLE BOX RIGHT LIMIT Megarounds dropped down to just$5B invested,down 7
20、9%YoY.Source:Dealroom.co The biggest rounds of Q3 2022 view onlineWealth management platform$1.4BTrading market maker$1.2B Payments platform$1.0BBaaS$620MInstitutional crypto platform$550MSME finance486MEthereum app and infrastructure builder$450MEthereum scaling and infrastructure$450MCrypto exchan
21、ge$400MDone$5$10B$15B$25B$20BGlobal VC investment in fintech startups,rounds$100M view online$100-250M$250M+Q32017Q32021Q32022Q12022$5.0B$23.5B 79%Page/11 LEGEND TEXT TOP ALIGNMENT SUBTITLE TEXT BOTTOM ALIGNMENT TITLE BOX BOTTOM ALIGNMENT YEAR TEXT BOTTOM LINE CONTENT(GRAPH)BOTTOM LINE TITLE BOX LEF
22、T LIMIT TITLE BOX RIGHT LIMIT Coinbase Ventures,500 Global,Sequoia and a16z were the most active fintech investors in Q3 2022.Source:Dealroom.co DoneWealth management platform$1.4BTrading market maker$1.2B Payments platform$1.0BBaaS$620MInstitutional crypto platform$550MSME finance486MEthereum app a
23、nd infrastructure builder$450MEthereum scaling and infrastructure$450MCrypto exchange$400MGlobal venture capital investment in fintech startups view online Q22017Q22021Q22022$10B$20B$30B$40B$0-1M(pre-seed)$1-4M(seed)$4-15M(Series A)$15-40M(Series B)$40-100M(Series C)$100-250M$250M+$21.5B$25.1BThe bi
24、ggest rounds of Q2 2022 view online$35.3BQ42021$31.6BDatastudioList done,design to be reviewedHQRounds in Q3 2022Select deals from Q3 2022San Francisco18Mysten Labs,Hidden Road,MessariMountain View16Merkle Science,StoreHub,HeadquartersMenlo Park11Klarna,Onecard,FPL TechnologiesMenlo Park10Aptos Labs
25、,Sardine,Creator DAOMenlo Park9Mysten Labs,Alloy Online,StoriPalo Alto9Toss,Stori,GroMoNew York9Opto Investments,Gnosis,FazzBerlin9Portofino Technologies,X1 Card,HyperfaceMost active fintech investors in Q3 2022Page/12 Top fintech investors slowed down their investment pace in Q3 with the top 4 cont
26、racting the most,all down by 80%.Source:Dealroom.co 2021 2020200000051020405030Today2 Latin America0 AfricaNumber of fintech investments 2021 Q3 2022 Q3AcceleratedSlowed downTiger GlobalSequoiaLightspeed VenturesGlobal Foun
27、dersGoodwaterCoinbase Ventures500 GlobalAndreessen Horowitz257510050Design to be reviewed-90%-23%Page/13 The median ticket size has decreased strongly at late stage since last year.Series A is still holding on,while Seed shows no sign of fall.Median fintech round size by stageSource:Dealroom.co$1.5M
28、$1.0M$2.0M$0.5M$20M$10M$25M$5M$15MQ32021Q32022$20M$40M$60MSeedSeries ASeries B$2.4M$3.2M$10.9M$10.2M$37M$20MQ32021Q32022Q32021Q32022DatastudioSeries C+$91M$35MQ32021Q32022VC investors in Europe became more bearish,writing smaller tickets(especially at early stage).US-based investors wrote larger che
29、cks in spite of market volatility.Page/14 LEGEND TEXT TOP ALIGNMENT SUBTITLE TEXT BOTTOM ALIGNMENT TITLE BOX BOTTOM ALIGNMENT YEAR TEXT BOTTOM LINE CONTENT(GRAPH)BOTTOM LINE TITLE BOX LEFT LIMIT TITLE BOX RIGHT LIMIT The public market is nearly frozen for fintech startups and PE groups are taking ad
30、vantage of market crunch to take public fintech back to private.Source:Dealroom.co Wealth management platform$1.4BTrading market maker$1.2B Payments platform$1.0BBaaS$620MInstitutional crypto platform$550MSME finance486MEthereum app and infrastructure builder$450MEthereum scaling and infrastructure$
31、450MCrypto exchange$400MDoneNotable PE acquisition of public fintech firms in Q3 202210204030Number of fintech IPO&SPACsQ32017Q32021Q32022Q12022228Q3202015$8.4B buyoutPE fundFintech targettax compliance solutions$1.7B buyoutB2B payments and AR softwarePage/15 LEGEND TEXT TOP ALIGNMENT SUBTITLE TEXT
32、BOTTOM ALIGNMENT TITLE BOX BOTTOM ALIGNMENT YEAR TEXT BOTTOM LINE CONTENT(GRAPH)BOTTOM LINE TITLE BOX LEFT LIMIT TITLE BOX RIGHT LIMIT M&A has slowed down in respect to the peak in 2021 and early 2022,but still higher than 2020 levels.Source:Dealroom.co The biggest M&A of Q3 2022 view onlineWealth m
33、anagement platform$1.4BTrading market maker$1.2B Payments platform$1.0BBaaS$620MInstitutional crypto platform$550MSME finance486MEthereum app and infrastructure builder$450MEthereum scaling and infrastructure$450MCrypto exchange$400MDone500Number of fintech acquisitionsQ32017Q32021Q32022Q
34、204Q32020105Page/16 LEGEND TEXT TOP ALIGNMENT SUBTITLE TEXT BOTTOM ALIGNMENT TITLE BOX BOTTOM ALIGNMENT YEAR TEXT BOTTOM LINE CONTENT(GRAPH)BOTTOM LINE TITLE BOX LEFT LIMIT TITLE BOX RIGHT LIMIT Just 7 fintech unicorns have been created in Q3 2022,an 87%drop from 53 in Q3 2021.Source:Deal
35、room.co OxyzoAptos LabTrust MachinesNEAR ProtocolLayerZeroiTrustCapitalPalmpayCointrackerFTX.USNumber of new fintech unicorns globally view online 403020Q2 2017Q3 2017Q4 2017Q1 2018Q2 2018Q3 2018Q4 2018Q1 2019Q2 2019Q3 2019Q4 2019Q1 2020Q2 2020Q3 2020Q4 2020Q1 2021Q2 2021Q3 2021Q4 2021Q2 2022Q3 2022
36、50602843DoneOld from Q2,to update:linkSatispay,Mystenlabs,Zebec protocol,Story,5ire,FPL technologies,xxQ1 2022537102Fintech trends in Q3 2022Page/18 LEGEND TEXT TOP ALIGNMENT SUBTITLE TEXT BOTTOM ALIGNMENT TITLE BOX BOTTOM ALIGNMENT YEAR TEXT BOTTOM LINE CONTENT(GRAPH)BOTTOM LINE TITLE BOX LEFT LIMI
37、T TITLE BOX RIGHT LIMIT All fintech segments are down from last quarter,except for Insurtech which has been on par.Payments are still the top sector for fintech VC funding.Source:Dealroom.co VC investment Q3 2022(%growth vs Q2 2022)view online+0%-18%-50%-40%Crypto and DeFiPaymentsInsurtech Mortgages
38、&LendingWealth ManagementFinancial Management SolutionsBankingRegtech-43%$3.4B$2.8B$2.1B$1.8B$1.7B$1.4B$1.4B$0.2B-61%-44%-66%Top 3 most funded startups in Q3 2022All fintech segments are down in respect to 2021.Banking,Lending,Insurtech and Regtech have have been hit the hardest.Payment is still the
39、 top segment.DonePage/19 LEGEND TEXT TOP ALIGNMENT SUBTITLE TEXT BOTTOM ALIGNMENT TITLE BOX BOTTOM ALIGNMENT YEAR TEXT BOTTOM LINE CONTENT(GRAPH)BOTTOM LINE TITLE BOX LEFT LIMIT TITLE BOX RIGHT LIMIT CFO tech startups are fighting the fintech downturn and projected to raise$2.5B this year,almost on
40、par with 2021 all-time-high.Source:Dealroom.coWealth management platform$1.4BTrading market maker$1.2B Payments platform$1.0BBaaS$620MInstitutional crypto platform$550MSME finance486MEthereum app and infrastructure builder$450MEthereum scaling and infrastructure$450MCrypto exchange$400MDoneMore insi
41、ghts coming soon in the fintech newsletter$2BVC investment in CFO tech startups view online$1B$3B$2.0B$2.8B$0.7B$2.5B*200022YTDPage/20 LEGEND TEXT TOP ALIGNMENT SUBTITLE TEXT BOTTOM ALIGNMENT TITLE BOX BOTTOM ALIGNMENT YEAR TEXT BOTTOM LINE CONTENT(GRAPH)BOTTOM LINE TITLE BOX L
42、EFT LIMIT TITLE BOX RIGHT LIMIT Debt collection startups are on track for their best year,with already$410M raised on the heels of rising interest rates driven by inflation and economic slowdown.Source:Dealroom.coWealth management platform$1.4BTrading market maker$1.2B Payments platform$1.0BBaaS$620
43、MInstitutional crypto platform$550MSME finance486MEthereum app and infrastructure builder$450MEthereum scaling and infrastructure$450MCrypto exchange$400MDoneRising interest rates driven by inflation and economic slowdown are putting pressure on debt financing and bringing attention back to debt col
44、lection processes.Debt collection startups help on one hand lenders recover debt from personal borrowers and SMEs,and on the other hand help borrowers deal with repayment process.Inspired by Mouro Capital analysis:https:/ investment in debt collection startups view online$100M$500M$410M$430M$89M$512
45、M*200022YTD$200M$300MExplore 60+debt collection startups Top 100 B2B SaaS fintech Top 100 banking Top 100 payments Embedded insuranceOpen banking BNPL More.NFTs Stock trading platforms Open banking Global challenger banks To be doneWeve ranked the top 100 fintech startups to wa
46、tch based on Dealroom Signal:a powerful algorithm helping VCs,Corporates and Governments find the most promising up and coming startups.Top 100 fintech startups to watch Top 100 Fintech Startups to watch Top 100 Web3 startups Top 100 insurtech startupsHave also a look at the newly added:Student loan
47、s startups More.Fintech democratizing venture capital Alternative payments Embedded insuranceExplore the key themes in Fintech and Crypto.Open banking BNPL More.NFTs Stock trading platforms Open banking Global challenger banks Expense managementDone ClimateTech softwareGet the latest weekly insights
48、,with the Fintechnewsletter.Done Sign up3Regional insightsPage/25 LEGEND TEXT TOP ALIGNMENT SUBTITLE TEXT BOTTOM ALIGNMENT TITLE BOX BOTTOM ALIGNMENT YEAR TEXT BOTTOM LINE CONTENT(GRAPH)BOTTOM LINE TITLE BOX LEFT LIMIT TITLE BOX RIGHT LIMIT Fintech funding in the US and Europe is down 69%and 62%resp
49、ectively from all-time-high.Source:Dealroom.co Europe view online US view online$5.2B 69%Q3 2022Q32020$5B$15B$20BQ32021Q1 2022$10B$16.5BQ32022Q32020Q32021Q1 2022VC investment in fintech startup by HQ$3.7B$7.0B 62%Done$9.7B$17.0BPage/26 LEGEND TEXT TOP ALIGNMENT SUBTITLE TEXT BOTTOM ALIGNMENT TITLE B
50、OX BOTTOM ALIGNMENT YEAR TEXT BOTTOM LINE CONTENT(GRAPH)BOTTOM LINE TITLE BOX LEFT LIMIT TITLE BOX RIGHT LIMIT The US keeps being the top country for fintech in Q3 2022,Sweden and Italy have seen the strongest growth coming up 2nd and 6th.UK slips out of the top 3.Source:Dealroom.co VC investment in
51、 fintech by regionQ12022Q12021$2.8BIndia view onlineQ12020$0.8B$1.4B$1.9B$0.3B$0.8B$0.2B$0.7B$0.7B$1.4B$1.2B$0.2BSouthEast Asia view onlineLatam view onlineAfrica*view onlineQ12022Q12021Q12020Q12022Q12021Q12020Q12022Q12021Q12020Emerging hubs/countries?xxxIn Q1 2022,foodtech VC investment grew fastes
52、t in India among major markets,while the US,Europe and China saw varying levels of contraction.$4.5B$2.1B$3.4B$1.0BTo add also MENA here would be too much for graphic,otherwise we can just do a chart like the one below,with both amount and growth$819M$3.9B$15.7B$21.7B$2.3B$926Mxx$1.2BxxNumbers updat
53、ed,design to be reviewedTop countries by fintech investment in Q3 2022 view onlineUnited StatesIndiaUnited KingdomGermanyItalyFranceBrazilChinaSweden$5.3B$1.1B$343M$316M$237M$839M$443M$566M$722M+376%+137%+6.5%-40%-52%-61%-68%-76%-81%SwedenItalyGermanyFranceBrazilIndiaUnited StatesChinaUnited Kingdom
54、Growth in Fintech investment Q3 2021 to Q3 2022 Page/27 LEGEND TEXT TOP ALIGNMENT SUBTITLE TEXT BOTTOM ALIGNMENT TITLE BOX BOTTOM ALIGNMENT YEAR TEXT BOTTOM LINE CONTENT(GRAPH)BOTTOM LINE TITLE BOX LEFT LIMIT TITLE BOX RIGHT LIMIT The Bay Area and New York come back to be the top hubs surpassing Lon
55、don.Still almost all hubs show a strong slowdown.Source:Dealroom.co VC investment in fintech by regionQ12022Q12021$2.8BIndia view onlineQ12020$0.8B$1.4B$1.9B$0.3B$0.8B$0.2B$0.7B$0.7B$1.4B$1.2B$0.2BSouthEast Asia view onlineLatam view onlineAfrica*view onlineQ12022Q12021Q12020Q12022Q12021Q12020Q12022
56、Q12021Q12020Emerging hubs/countries?xxxIn Q1 2022,foodtech VC investment grew fastest in India among major markets,while the US,Europe and China saw varying levels of contraction.$4.5B$2.1B$3.4B$1.0BTo add also MENA here would be too much for graphic,otherwise we can just do a chart like the one bel
57、ow,with both amount and growth$819M$3.9B$15.7B$21.7B$2.3B$926Mxx$1.2BxxDoneTop global hubs for fintech investment in Q3 2022 view onlineBay AreaNew York CityStockholmLondonBerlinParisSo PauloSingaporeGreater Boston Region$1.6B$1.2B$316M$238$176M$159M$501M$534M$834MNumbers updated,design to be review
58、ed+445%+24%-44%-61%-69%-72%-81%-83%-89%StockholmBerlinParisSo PauloBay AreaNew York CitySingaporeLondonGreater Boston RegionGrowth in Fintech investment Q3 2021 to Q3 2022 Top global hubs by fintech funding in Q3 2022(Bay Area and New York get before London)Explore fintech funding by regions,countri
59、es and cities.Despite the strong pullback,fintech is still the 2nd biggest segment for venture funding.It also remains by far the sector which has seen the largest exits.Regions like the US,Europe and China have already seen global leaders emerge in the field and now India,South East Asia,Latin Amer
60、ica and Africa are coming to the scene.Investment by countries Investment by regions Investment by citiesDoneDoneExplore the ecosystemfintech.dealroom.coAccess over 47,000 fintech startups,42,000 funding rounds,and our latest insights on the world of fintech.Visit the platformPage/30 LEGEND TEXT TOP
61、 ALIGNMENT SUBTITLE TEXT BOTTOM ALIGNMENT TITLE BOX BOTTOM ALIGNMENT YEAR TEXT BOTTOM LINE CONTENT(GRAPH)BOTTOM LINE TITLE BOX LEFT LIMIT TITLE BOX RIGHT LIMIT Fintech startups are not just customer acquisition and nice UX,over 3k fintech startups hold patents,some with impressive portfolios.Source:
62、Dealroom.coWealth management platform$1.4BTrading market maker$1.2B Payments platform$1.0BBaaS$620MInstitutional crypto platform$550MSME finance486MEthereum app and infrastructure builder$450MEthereum scaling and infrastructure$450MCrypto exchange$400MDoneCoinbase has a strong IP portfolio of 63 pat
63、ents from smart contract analytics,to storage and transaction orchestration.Discover over 3k+fintech startups holding patentsPage/31 Source:Dealroom.co$1.5B$1.5B$1.2B$784M$652M$441M$784MGreater LondonBay AreaNew YorkParisSingaporeBengaluruGreater Boston RegionSo PauloLos AngelesJakartaVenture capita
64、l methodology and definitions.Venture capital investmentInvestment numbers refer to rounds such as Seed,Series A,B,C,.late stage,and growth equity rounds.Venture capital investment figures exclude debt or other non-equity funding,lending capital,grants and ICOs.Buyouts,M&A,secondary rounds,and IPOs
65、are treated as exits:excluded from funding data.Investment rounds are sourced from public disclosures including press releases,news,filings and verified user-submitted information.ValuationThe combined valuation of the tech ecosystem is based on their market cap or latest transaction value.Transacti
66、on value is realized from exit or implied unrealised valuation from the latest VC round,which is either announced or estimated by Dealroom based on benchmarks.Startups,scaleups,grownups and techCompanies designed to grow fast.Generally,such companies are VC-investable businesses.Sometimes they can become very big(e.g.$1B+valuation).When startups are successful,they develop into scaleups(50 people),grownups(500 people)and result in big companies,like Klarna or Coinbase.Only companies founded since 1990 are included in this report.Done