Cash-rich fintechs poised to dominate 2022's M&A frenzy, VCs say
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Fintech
Bain Capital Ventures
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Oak HC
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FIS
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Nigel Morris
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Summary
Deals won't just be defined by big banks, payments giants, and established fintechs scooping up smaller players in an effort to compete.The market will also see consolidation between mid-sized fintechs — those that have been around for five to 10 years and have recently raised big rounds — according to top investors from Bain Capital Ventures, Financial Technology Partners, Oak HC/FT, and QED Investors.The investors, who all spoke on a panel hosted by FT Partners on January 6, detailed several reasons mid-sized fintechs are expected to start gobbling up each other this year instead of getting bought out by bigger players. It could keep falling," said Matt Harris, partner at Bain Capital Ventures."There's widespread carnage across the board," Morris added, and that's serving as a cautionary tale for fintechs considering going public. While there are only a few banks that are active in fintech M&A today, the "vast sea" of firms that haven't been engaged will start to be this year, QED's Morris said.
As said here by Bianca Chan