Bloomberg Markets - 10.2019

Startups in almost every sector have

benefited from a surge in venture capital

investment. Fintech is no exception.

North America holds the top spot in

terms of dollars spent. Some VC firms

are making multiple bets on fintech.

San Francisco-based 500 Startups

staked 43 such companies in

the 12 months ended June 30.

Some manage funds that specialize

in particular areas, such as Andreessen

Horowitz’s crypto-focused a16z.

North America, with the most
venture capital, is also home to many of
the hottest fintechs. Payments startup
Stripe Inc.’s $35 billion valuation exceeds
that of more than half of the S&P 500’s
members. Cryptocurrency platform
Coinbase, free trading app Robinhood
Financial, digital bank Social Finance, and
credit score platform Credit Karma are
each valued at $4 billion or more.
In the second quarter, India—home
of mobile payments startup Paytm—
surpassed China in the number of deals.
But China still boasts the most valuable
fintech. Lu.com, the wealth management
platform backed by Ping An Insurance
(Group) Co., was most recently valued
at $39 billion.
In Europe and Latin America, 2018
and the first half of 2019 have been good
to the digital banks raising new capital.
OakNorth, Monzo, and Revolut in the
U.K., N26 in Germany, and Nubank
in Brazil are among the most valuable
fintechs in those regions.

Who’s Funding the

Revolution?

Where the Biggest

Fintechs Live

U.S. Venture Firms Stay Dominant Prime Players

Sizing Up the Unicorns

Venture capital-backed fintech funding Most active venture capital firms

by number of fintech investments

made from Q2 ’18 to Q2 ’19

Venture capital-backed fintech companies with a private market valuation

of at least $1 billion, as of Aug. 8

Q2 ’18* Q2 ’19

$5.3b North America

$3.5b

$1.1b Asia

$2.1b

$1.6b Europe

$0.9b

$0.1b $0.4b^ Other

500 Startups

43

a16z (Andreessen Horowitz)

31

Ribbit Capital

28

Accel

26

Salesforce Ventures

24

North America Asia Europe South America Australia

Stripe†

$35b

Coinbase

$8b

Circle

$3b

Oscar

$3.2b

Gusto

$3.8b

Affirm

$2.9b

Brex

$2.6b

Marqeta

$2b

Carta

$1.7b

Avant

$1.9b

Root $1b

Hippo† $1b

Zenefits*

$2.1b

Lu.com

$39.4b

Paytm

$10b

To s s

$2.2b

Plaid

$2.7b

To a s t

$2.7b

Robinhood

$7.6b

SoFi

$4.8b

Credit

Karma

$4.0b Klarna

$5.5b

TransferWise

$3.5b

Greensill

$3.5b

N26

$3.5b

OakNorth

$2.8b

Revolut

$1.7b

Ivalua $1.1b

Nubank

$10b

Judo

Bank†

$1.4b

Monzo

$2.6b

56 BLOOMBERG MARKETS