2016年-数据局_毕马威：金融科技行业脉动-2016年第一季度_EN_85页_3mb

Fintech Pulse Report - Q1 2016 Summary

Core Content

The Q1 2016 Pulse of Fintech Report by KPMG International and CB Insights highlights a resurgence in global fintech venture funding after a decline in Q4 2015. The report outlines key trends across different regions and sectors, including the role of corporate partnerships, the evolution of InsuranceTech, and the dominance of certain areas like China and the US in funding.

Key Findings

Global Fintech Funding

• Total VC-backed fintech funding in Q1 2016 reached $4.9 billion across 218 deals.
• Overall fintech investment (including non-VC sources) totaled $5.7 billion across 468 deals.
• The top 3 mega-rounds accounted for $50%+ of all VC-backed fintech funding, indicating a concentration of investment in large deals.
• Global fintech deal activity rebounded by 22% compared to Q4 2015, reaching a new record high.

Regional Breakdown

North America

• $1.8 billion in VC-backed fintech funding across 128 deals.
• Corporate participation rose to 26%, a 5-quarter high.
• Seed-stage deal share dropped to 28%, a 5-quarter low, while Series A activity increased.
• Late-stage deal size fell to a 5-quarter low of $19.5 million, down 68% from Q3 2015.

Europe

• $348 million in VC-backed fintech funding across 47 deals.
• Corporate participation increased to 21%, up from 8% in Q4 2015.
• Seed deal share dropped to 30%, after rising for 3 quarters.
• Series A activity rose to 20% of all deals, taking over 1/5th of European fintech deals.
• UK fintech funding fell by 41% on a quarterly basis due to the collapse of Powa, but still outpaced Germany.

Asia

• $2.6 billion in VC-backed fintech funding across 36 deals.
• China dominated with $1.5 billion in funding, led by JD Finance and Lu.com.
• Seed deal share increased to 39%, while Series A activity fell to less than 1/5th of all deals.
• Corporate participation in Asia dropped to 31%, a 5-quarter low, but remained higher than Europe and North America.

Sector Trends

• Payments saw a decline in interest in North America, likely due to market saturation and the dominance of Square and Stripe.
• InsuranceTech is gaining momentum globally, with insurance companies seeking efficient business models and improved customer service.
• Robo advisory is a growing area, with Betterment raising $100 million in Q1 2016. It is still in early stages in Europe and Asia.
• Blockchain and Bitcoin continue to be areas of significant interest, with Digital Asset Holdings and Blockstream leading in funding.
• Lending tech saw large deals in China and the US, with Lu.com raising $1.2 billion and Betterment raising $100 million.
• Institutional/Capital Markets Tech and Equity Crowdfunding also saw notable activity.

Investment Trends

• VC-backed deals accounted for 86% of overall fintech funding.
• Early-stage deal size reached a 5-quarter high of $2.7 million.
• Late-stage deal size dropped to a 5-quarter low of $19.5 million.
• Corporate VC (CVC) participation increased globally, with 20%+ of all deals involving corporate investors.
• KPMG and CB Insights highlight the resilience of fintech despite global economic uncertainty.

Main Points

• Global fintech investment rebounded significantly in Q1 2016, driven by mega-rounds in Asia and North America.
• Asia led in funding with $2.6 billion, largely due to Chinese companies like JD Finance and Lu.com.
• North America saw a 22% increase in deals, but late-stage deal sizes declined.
• Europe had a 27% increase in deal activity, but funding amounts remained low.
• InsuranceTech and Robo advisory are emerging as key growth areas.
• Corporate collaboration is increasing, with banks and financial institutions partnering with fintech firms to enhance innovation and efficiency.

Key Investors

• Top 3 most active VC investors in fintech over the last 5 quarters: QED Investors, 500 Startups, and Khosla Ventures.
• Corporate VC participation reached 20%+ in Q1 2016, indicating a growing interest in fintech from traditional financial institutions.

Conclusion

The report emphasizes the resilience and growth of the fintech sector despite broader economic challenges. It highlights the diversification of fintech interest beyond payments and lending into areas like InsuranceTech, RegTech, and Robo advisory, and notes the increasing collaboration between fintech and corporate players. The concentration of investment in mega-rounds and the shift in deal sizes suggest a maturing market with both opportunities and risks.