For fintechs in 2022, the bigger the exit, the larger the decline in value
- “That was probably not super great timing considering the broad macroeconomic impact on tech.”The fact that so many fintech companies even went public was a big deal in and of itself, Jegen said.
- The cumulative market cap decline for the top 10 recent exits totaled over $220 billion; Coinbase, NuBank, Robinhood, SoFi, Affirm and Wise all saw their valuations tumble.
- “We had 10 years of exciting fintech disruption, all of it led by private investors,” he said.
While the public market correction has been widespread, tech and fintech stocks have seen the largest declines, according to a recent report.Specifically, the Fintech Index which tracks the perform [+1467 chars]