A key topic in fintech today is valuations and funding. The public markets for technology stocks have been in freefall. The Nasdaq Composite index is down 30% this year. Many publicly traded fintech companies have fared much worse. Square, Paypal and Coinbase are down 50, 60 and 75% respectively (as at May 24).
This is against the backdrop of record venture capital raises and startup funding last year. 2021 saw $621b in venture capital funding, more than double 2020. A record 959 new unicorns were minted – a 61% increase relative to 2020.
The problem is that the current venture modus operandi has been
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