1、London|Frankfurt|Stockholm|San Francisco1|13 Fintech M&A Overview 2H 2022Fintech M&A continues solid two-year climbFintechM&AdefiesbroaderM&A slowdownWhile global M&A has suffered in 2022,the Fintechsector saw M&A activity rise sharply this year,with591 deals recorded in the first half of 2022.Thisr

2、epresents a 46%increase on 1H2021 numbers,and awhopping 70%increase on pre-pandemic(1H2019)figures.Meanwhile,valuations have remained steady:1H2022saw the trailing 30-month median revenue multiplereach 3.1x broadly in line with the levels seen in thepast two years.The trailing 30-month median EBITDA

3、multiple came in at 14.2x,firmly within the 13x to 15xrange monitored since 2015.In this report,we review the Fintech M&A market byanalysing,in detail,each of the subsectors below:Financial Management SolutionsPaymentsBanking/Lending TechnologyCrypto&BlockchainWealth&Capital Markets TechnologyThe ab

4、ove graph covers the period between January 2015 and June 2022.Throughout this Fintech M&A report,median“trailing 30-month”multiples plotted in the graphs refer to the 30-monthperiod prior to and including the half year.Total number of deals&valuation multiples in Fintech per half-year,2015-2022346

5、375 390 309 347 293 377 334 348 376 352 456 406 510 591 3.2x3.0 x2.4x2.4x2.3x2.3x2.6x2.9x3.2x3.7x3.7x3.2x3.3x3.2x3.1x17.8x13.5x13.5x13.4x13.3x13.4x14.7x14.4x14.3x14.7x14.0 x13.3x13.0 x14.2x14.2x-100 200 300 400 500 6001H 20152H 20151H 20162H 20161H 20172H 20171H 20182H 20181H 20192H 20191H 20202H 20

6、201H 20212H 20211H 2022Non-techM&AactivitydipsThe global M&A market saw a sizeable spike in2021 across all industries,leading many analyststo question whether such highs would be short-lived.Their skepticism proved correct:early into2022,broader market confidence deteriorated asseveral geopolitical