“Is 2024 the Year for Fintech IPOs? Insights from F-Prime Capital’s State of Fintech 2024 Report”
F-Prime Capital, a venture capital firm with over $4.5 billion in assets under management, suggests that 2024 might witness a surge in fintech initial public offerings (IPOs), according to its State of Fintech 2024 report. F-Prime, which tracks the performance of emerging financial technology companies, expresses optimism about the fintech sector’s potential, highlighting that despite capturing less than 10% of financial services revenue, several scaled private fintech companies are generating over $1 billion in revenue and are still growing rapidly.
The report notes that numerous sizable fintech companies are either filing for or contemplating going public. Although F-Prime encompasses both financial technology and crypto/blockchain startups in its analysis, the focus here is on non-crypto-focused companies that could potentially go public in 2024.
The list includes:
- Apex: The stock trade clearance firm, valued at $4.7 billion post-money, is considering a direct SEC filing after a previous attempt via SPAC merger.
- Stripe: Although Stripe set a 12-month deadline for a potential IPO, the fintech giant, valued at $50 billion after a $6.5 billion Series I funding round, has not made any official announcements yet.
- Klarna: The Swedish fintech company, which reported positive Q3 results and revenue of around $550 million, has confirmed steps toward an eventual IPO, including legal entity restructuring to ease the listing process.
While the actual IPOs are yet to be confirmed, the anticipation for fintech companies going public in 2024 is growing, and industry observers are eager to gain insights into their financial performance and market value.
