Sequoia and Andreessen Horowitz invested more in fintech than any other sector in 2022

News Summary

  • Deals it participated in included Citadel Securities’ $1.2 billion round; Capitolis’ $110 million Series D; Watershed’s $70 million Series B; and Ledgy’s $22 million Series B.More than a quarter (28%) of a16z’s fintech investments in 2022 went to the payments category.
  • He told me that based on secondary market activity, Klarna appears to be currently valued at around $7.5 billion, which is actually higher than the $6.7 billion it was valued at last July, but also still significantly lower than the $45 billion it was valued at in 2021.
  • Sixty percent of these fintech investments closed in the first half of 2022, with the remainder closing in the second half of the year.Sequoia backed 25 companies in the financial services space last year.
  • Opendoor (ticker: OPEN) said it lost 63 cents per share on revenue of about $2.9 billion in the quarter, beating consensus estimates…In full-year 2022, Opendoor lost $2.16 per share on revenue of about $15.6 billion.
  • According to CB Insights, of the 206 deals that a16z participated in last year, almost a quarter went to fintech companies — more than any other industry.
  • In Q4 2022, Bunq’s net fee income grew by 37 per cent compared to Q4 2021, and user deposits grew by 64 per cent compared to €1.8B at the end of 2022.” More on Bunq here.Mastercard has tapped five startups to participate in its Start Path Emerging Fintech program.
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