2021-08-10-KPMG_Global-Pulse_of_Fintech_H1_2021_–_Americas_72页_3mb

报告摘要

Summary of Pulse of Fintech H121

Core Content

The Pulse of Fintech H121 report highlights the strong rebound and growth of the global fintech market in the first half of 2021. The year started with a significant increase in investment across venture capital (VC), private equity (PE), and mergers and acquisitions (M&A), with the total investment reaching $98 billion from $87 billion in H2'20. This growth was driven by diversified subsectors, increased deal sizes, growing interest in SPAC mergers, and cryptocurrency and blockchain.

Main Trends and Key Points

1. Global Fintech Investment Growth

Total investment in fintech reached $98 billion in H1'21, with 2,456 deals.
The market showed a V-shaped recovery from 2020 levels.
VC investment reached $52 billion, close to the 2018 annual record.
PE investment in fintech hit $5 billion, surpassing the 2018 annual high.
Cross-border M&A more than doubled from 2020, reaching $27.7 billion in H1'21.

2. Key Subsectors and Deal Highlights

Payments remained the top subsector, with major deals like SoFi's $2.4 billion SPAC merger and Nubank's $1.1 billion VC funding.
Insurtech investment also surged, with notable deals such as Clover Health's $828 million SPAC merger and WeFox's $650 million raise.
Regtech investment hit a record high, with $10.5 billion in H1'21, driven by the rise of cryptocurrency-focused regtechs and AML/KYC solutions.
Cybersecurity saw a record pace of investment, led by Nasdaq's $2.7 billion acquisition of Verafin and Transmit Security's $543 million Series A.
Wealthtech investment reached $12.5 billion, with Wealthsimple's $600 million raise and JP Morgan's pending acquisition of Nutmeg.

3. Emerging Models and Collaborations

Platform and 'super app' models gained traction, especially in Southeast Asia, with companies like Gojek and Grab leading the way.
Big techs continued to partner with banks and fintechs to enhance customer experience and reduce friction, such as Google's partnerships with Citi, BBVA, and others.
Corporate VC (CVC) investment reached $21 billion, with a growing number of strategic acquisitions and investments in high-demand skills.

4. Fintech and Financial Institutions' Future Outlook

The digital behavior shift caused by the pandemic is expected to persist.
M&A activity is expected to increase in H2'21, especially in mature fintech areas, with a potential return of mega deals.
SPAC mergers could dominate H2'21, with Grab's $40 billion SPAC merger as a notable example.
Cybersecurity and regulatory compliance will remain key focus areas, especially as digital transactions grow and ransomware threats rise.
B2B services, embedded finance, and banking-as-a-service (BaaS) are expected to gain more traction in H2'21.

Key Insights from Industry Leaders

Ian Pollari (KPMG Australia) emphasizes the need for fintechs and traditional financial institutions to leverage momentum and adapt to the new digital landscape.
Anton Ruddenklau (KPMG Singapore) highlights the increasing interest in crypto and blockchain, noting that investors are looking for diverse opportunities in the crypto ecosystem.
Chris Hadorn (KPMG US) notes that embedded finance is becoming a key driver in the payments sector, supported by open banking and APIs.
Pat Kneeland (KPMG US) discusses the maturity of regtech and the growing regulatory focus, especially in Asia.
Fabiano Gobbo (KPMG Italy) underscores the importance of RegTech in managing digital risks and fraud.
Charles Jacco (KPMG US) highlights the growth of cybersecurity investment, especially in cloud-based security platforms.

Regional Highlights

The US accounted for $42.1 billion in fintech investment, with SPAC mergers and VC activity driving much of the growth.
EMEA also saw strong investment, particularly in open banking and embedded finance.
Asia-Pacific (APAC) investment increased from $4.5 billion in H2'20 to $7.5 billion in H1'21, though still below previous highs.

Future Outlook for H2'21

Consolidation is expected to continue, especially in mature fintech subsectors.
Crypto and blockchain will remain a hot topic, with increased regulatory scrutiny.
Cybersecurity will see more M&A activity and investment in AI and automation.
B2B fintech services, such as digitized AR/AP, are gaining attention.
SPAC mergers and traditional IPOs will likely remain strong exit channels for fintechs.

Conclusion

The fintech market is showing strong momentum in H1'21, with increased investment, diversified subsectors, and growing interest in emerging technologies. The platform model, embedded finance, and SPAC activity are key drivers of this growth. As the market continues to evolve, regulatory compliance, cybersecurity, and cryptocurrency are expected to remain critical areas of focus for investors and fintechs alike.