FinTech M&A Activity
FinTech M&A by Year (In Billions of USD)
Total Deal Size in ($B) # of Deals
Following a stellar 2021, fintech M&A volume experienced a correction, declining by 13% and 32% in 2022 and 2023 respectively. However, the industry is showing strong signs of recovery in 2024. The total value of deals in Q1 2024 has already surpassed the entirety of 2023, and current trends in Q2 indicate a continuation of this positive momentum.
Annualized
352
136.7
214
192
161
117
Key trends:
64
77.2
117.9
102.4
69.2
74.8
• Large Deals Drive Growth: The resurgence of large transactions exceeding $1 billion is a significant factor in the overall increase in M&A volume. Examples include Capital One's proposed $35 billion acquisition of Discover (the largest fintech deal of 2024) and the take-private of Nuvei by Advent for c.$6.3 billion. • Increased Activity in PaymentTech: PaymentTech witnessed a surge in deal activity, driven by the growing demand for embedded payments and real-time payment features. Notably, FIS's sale of a 55% stake in its Merchant Solutions business (WorldPay) to GTCR for a c.$12.5 billion LBO exemplifies this trend.
2020
2021
2022
2023
YTD 2024
M&A Volume by Quarter (In Billions of USD)
Total Deal Size in ($B) # of Deals
90
84 88 88
64
55
47
46
77
43 38 42 38 43
37 38
33
25
7.6 4.7 16.3 48.6 32.5 39.8 26.1 18.0 68.3 10.4 6.4 17.0 22.0 7.6 23.9 15.7 58.2 16.0
Overall, the fintech M&A landscape is experiencing a significant turnaround in 2024.
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2020 2021 2022 2023 2024
Source: Pitchbook as of June 2024. Data consists of transactions where deal value was disclosed.
20
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