毕马威-2018上半年全球金融科技行业投资趋势报告（英文版）-2018.07-58页_2mb

Fintech 2018 Summary

Global Overview

In the first half of 2018 (H1'18), global investment in fintech reached $57.9 billion across 875 deals, surpassing the previous year's annual total and on track to exceed 2015's peak. The growth was driven by significant deals such as the $14 billion investment in Ant Financial and the $12.9 billion acquisition of WorldPay by Vantiv.

• VC Deal Volume: Remained steady, with continued strength at all stages.
• Late Stage Deal Size: Increased from $14 million in 2017 to $25 million in 2018 (YTD).
• Regtech Investment: Reached $1.37 billion in H1'18, already surpassing 2017 annual totals.

Americas Overview

Fintech investment in the Americas totaled $14.8 billion across 504 deals in H1'18, with 96% of the deal value coming from the US.

• US Investment: Reached $14.2 billion across 427 deals, including over $5 billion in venture capital.
• Top Deals: Spread across the US, with California and Massachusetts leading.
• Canada: Saw $263 million in fintech investment, with Wealthsimple raising $65 million. AI was a major focus, and several large financial institutions are investing in blockchain and AI-based fintech solutions.

Europe Overview

European fintech investment hit $26 billion across 198 deals in H1'18, with notable acquisitions like WorldPay and iZettle.

• UK Dominance: Accounted for over $16 billion in total fintech investment.
• Median Deal Sizes:
  • VC Angel/Seed Stage: Increased from $1.2 million to $1.5 million.
  • M&A: Increased from $23.7 million to $60.4 million.

Asia Overview

Asian fintech investment reached $16.8 billion across 162 deals in H1'18, dominated by China and India.

• China: Led with six of the top 10 deals, including Ant Financial's $14 billion round.
• India: Had four of the top 10 deals, with a notable rise in VC deal volume.
• Japan: Made an entry into the top fintech deals with a $63 million Series A raise by Folio.

Key Trends

• Consolidation: Increased in key fintech sub-segments, especially in the Americas and Europe.
• Regtech Momentum: Continued to grow, with $1.37 billion in H1'18, and expected to accelerate due to new regulations like GDPR and PSD2.
• Blockchain: Gained traction, with significant investments in R3, Circle Internet Finance, and Ledger. The US was particularly active in this space.
• Insurtech: Grew significantly, with $100 million+ megarounds to Oscar and Lemonade. Cross-sector alliances are becoming more common.
• B2B Fintech: Gained interest, with Tradeshift raising $250 million and banks acquiring AI-based fintech firms.

Regional Highlights

• Brazil: Dominated Latin American fintech investment, with Nubank raising $150 million in Series E, highlighting its role as a fintech innovation hub.
• Canada: Experienced a surge in AI and blockchain investments, with TD Bank Group acquiring Layer for $65 million and Plaid expanding into the Canadian market.
• UK: Led in fintech investment and was a key player in open banking and regtech.

Outlook

• Global Fintech Market: Expected to remain strong, with continued growth in payments, lending, and innovative technologies like AI, RPA, and blockchain.
• Regtech: Projected to grow rapidly over the next 12–24 months, especially in AI, KYC, and KYD.
• Open Banking: Expected to expand globally, including in Asia with the Hong Kong (SAR) Monetary Authority introducing an open API framework.
• B2B Fintech: Likely to see increased activity as traditional corporates seek to expand into financial services.

Top 10 Global Fintech Deals in H1'18

1. Ant Financial — $14B, Hangzhou, China (VC, Series C)
2. WorldPay — $12.9B, London, UK (M&A)
3. Nets — $5.5B, Ballerup, Denmark (Buyout)
4. Blackhawk Network Holdings — $3.5B, Pleasanton, CA (Buyout)
5. iZettle — $2.2B, Stockholm, Sweden (M&A)
6. IRIS Software Group — $1.8B, Datchet, UK (Buyout)
7. PowerPlan — $1.1B, Atlanta, GA (M&A)
8. Cayan — $1.05B, Boston, MA (M&A)
9. OpenLink Financial — $1B, Uniondale, NY (Buyout)
10. Nordax Group — $788M, Stockholm, Sweden (Buyout)

Conclusion

The fintech sector in 2018 showed strong growth and diversification, with increasing interest in regtech, insurtech, and blockchain. The US and UK led in investment, while Brazil, India, and Japan emerged as key players in less traditional markets. The global fintech market is expected to continue its upward trajectory, driven by regulatory changes, technological innovation, and consolidation.