INTELLI™ Weekly Insights
Wednesday October 19, 2022 | Volume 1 Series 16 | Quarter 3 statistics that will blow you away regarding recent fundings, deals, transactions, & more.
🌘 Good afternoon - it’s another sunny day here in Boca Raton, FL! We’ve got a statistic-heavy INTELLI™ for you today, but one that we know you’ll find very interesting. Whether some of you are grabbing that extra espresso to knock out a few more hours of work, or settling in with a nice glass of red as you wind down from the day, the team at INTELLI™ is ready to share a fresh round of updates for you as you navigate through this week. But first, a few announcements & reminders:
📅 PreIPO’s 2nd Panel Event: The Web2 to Web3 Transition is on October 28th, 2022 at 11 AM EST (Register / RSVP here).
💻 INTELLI™ will launch in a public beta format to all of you readers, so please reply if you’re interested in accessing the platform for a sneak peak! Here’s a recap of the platform:
🔎 Quarter 3 brought a lot to the table in terms of eye-popping funding statistics. Here are some of the highlights we thought to share with you:
💵 Top 5 Equity Deals in Q3'22 Worldwide
Klarna (Sweden) | $800M- Private Equity | Sequoia Capital, BESTSELLER, Commonwealth Bank of Australia, Silver Lake, CPP Investments
DANA (Indonesia) | $555M- Series A | Lazada, Sinar Mas Indonesia
wefox (Germany) | $400M- Series D | Mubadala, Horizons Ventures, OMERS Ventures
Toss (South Korea) | $371M- Series G | Altos Ventures, DAOL Investment, Goodwater Capital, Greyhound Capital, Korea Development Bank
Pie Insurance (United States) | $315M- Series D | Allianz X, Centerbridge Partners, Acrew Capital, Gallatin Point Capital, Greycroft
🦄 Global Unicorn Births in Q3'22
21.co (United States) | $2.0B
OneCard (India) | $1.4B
stori (Mexico) | $1.2B
DANA (Indonesia) | $1.1B
Paystand (United States) | $1.0B
Zebec (United States)| $1.0B
💰 Sales Intelligence and Closing More Deals!
Sales intelligence is the collection of prospect data and insights from a variety of sources (often aided by sales software), that enables sales teams to better understand their prospects and track critical buying signals.
Sales intelligence technology can help sales teams automate research and customize outreach to book more meetings with qualified prospects.
Sales intelligence collects and consolidates prospect data in a single platform, helping salespeople easily find better-fitting prospects and customize their outreach to close more deals.
📈 Valuations in Q3 Still High Despite VC’s Taking It Slow
Q3 overall was lucklaster. Entrepreneurs appear to be willing to hold off on raising new rounds if they can afford to. VCs themselves aren't in any hurry to invest if they feel like they would be overpaying.
Surprisingly, start-up valuations remain relatively high. The median pre-money valuation for an early-stage deal hit a record high of $55M as of September 30.
📊 Your Rundown on Fintech in Q3'22
Mega-rounds continued to decline in Q3’22, dropping to only 19 deals totaling $4.4B. Average deal size was down 38% from fiscal year (FY) 2021.
In Q3’22, Europe drew 32% of late-stage deals, while the US brought in 24%. This is the first time Europe has overtaken the US since Q4’18.
Fintech M&A exits declined 14% QoQ to 155 deals, an 8- quarter low. M&A activity still led among exit types, but the number of SPACs (4) surpassed IPOs (2) for the first time ever.
Coinbase Ventures was the most active fintech investor and 1 of only 2 CVCs to make the top investors list.
Banking funding dropped 37% QoQ to $1.2B. That level represents a whopping 86% decline from a record-high $8.3B in Q2’21. However, deal count saw a slight increase QoQ, growing to 76.
Insurtech funding saw the smallest QoQ decline of any fintech sector, ticking down 4% from $2.4B to $2.3B. Deal count fell slightly to 140. While down significantly from 2021’s highs, unlike other sectors, insurtech has remained relatively flat throughout 2022.
US fintech funding plunged 43% QoQ to $5.1B, reaching its lowest point since Q1’20. However, the US continues to lead global funding share by a large margin.
Australia was the only region to see a QoQ increase in fintech funding — growing 40% to $144M — as well as a QoQ increase in deal count, which jumped 42% to a total of 17 deals.
💸 INTELLI™ Featured Fundings
Resonance, a new $150 million fund based in Paris, backed 100% by Otium Capital.
French startup Homa has raised a $100 million Series B funding round led by Quadrille Capital and Headline.
London-based start-up Ribbon is having a busy Tuesday with the announcement of £2.63 million in seed stage funding led by Octopus Ventures.
Katana, an enterprise resource planning platform for small- and medium-sized manufacturers, has raised €35 million in a Series B round of funding.
HR management platform Factorial has raised a $120 million Series C round at a $1 billion valuation led by new investors Atomico.
Berlin-based B2B buy now pay later payments startup Mondu has brought in an additional €20 million in a debt financing round provided by German bank Vereinigte Volksbank Raiffeisenbank.
💵 Debt Financing
Investor Channel Capital Advisors launched a $300 million fintech lending strategy.
A digital banking service geared toward teens and young adults called Step raised $300 million in debt to expand its crypto offering.
🚀 Product Launches
Scotiabank celebrated the launch of its next generation algorithmic trading platform in Canada by ringing the Opening Bell at the Toronto Stock Exchange.
Insuritas launches a virtual insurance assistant.
Google is now directly providing data about Ethereum addresses when they are searched for.