FT Partners Banking-首席执行官每月市场更新与分析：数字银行银行科技

Featuring:

FTPartners|January2024

CEOInterview

CEOMONTHLY

MARKETUPDATE

&ANALYSIS

DigitalBanking/BankTech

EnterpriseBankingTech●CoreProcessors●Online/Mobile

Banking●LendingTech●CreditScoring/Data●Mortgage/

RealEstateTech●PersonalFinancialManagementPlatforms

TheOnlyGlobalInvestmentBankFocusedExclusivelyonFinTech

SteveMcLaughlin|Founder,CEO,Manag

ingPartner

Contact:

steve.mclaughlin@

|415-385-9318

©2024

DigitalBanking/BankTechMarketUpdate&Analysis

Contents

ExclusiveInterviewwithDimitrDadiomov,CEO&coFounderofModernTreasury….….…22

publicBanking/LendingTechsectoruniverse.………………2

i.price/EarningsMultiples

ii.commonstockcomparison

U.s.Banking/LendingTechIPOTracker………44

i.Detailedprofiles

ii.TransactionList

ii.GlobalspACMergerTracker

VI.FinancngTransactions……………………56

i.Detailedprofiles

ii.TransactionList

VII.keyupcomingndustryconferences……………63

2

FTPartners-FocusedExclusivelyonFinTech

FTPartnersisThrilledtoSponsorFintechMeetup2024

FINTECHMeetup

March3-6,2024

TheVenetian,LasVegas

Details&Registration

FintechMeetuphasrevolutionizedhowtheFinTechsector

connects,collaboratesanddoesbusinesstogether.The

conferencebringstogether5,000+attendeesandfacilitates45,000+meetingsthroughproprietaryeventtechnology,in

whatisthelargest-everFinTechmeetingsprogram.

JoinFTPartnersnextMarchandstaytunedforexclusive

updatesontheconferenceandco-hostedevents.

FTPartners-FocusedExclusivelyonFinTech

ProvenTrackRecordofSuccessAcrosstheBankTechSector

4

FTPartners-FocusedExclusivelyonFinTech

SignificantExperienceAdvisingLargeFinancingRounds

FTpartnershasahistoryofadvisingonsomeofthelargestfinancingtransactionsintheFinTechspace

CompanyAmountRaisedCompanyAmountRaisedSelectedProminentInvestorsinFTPartnersLedRounds

＊

avidxchange$1,616,000,000

＊

1,560,000,000

1,545,000,000＊

Revolut

1,250,000,000

mollie

800,000,000

ospom

＊

725,000,000

620,000,000

varo

510,000,000

》MARQETA

＊

505,000,000

OMAMBU

483,000,000

＊

＊

445,000,000

)upgrade

*Totalincludesmultiplefinancingrounds

$420,000,000

400,000,000

374,000,000＊

370,000,000

＊

340,000,000

＊

NT

333,000,000

＊

300,000,000

270,000,000

267,500,000＊

Alphasense

263,000,000

＊

250,000,000

AccelTEMASEKVISAPIMCO

TiGERGLOBAL

ICONiQPremjiInvest二softBank

khoslaventures

LONEPINECAPITAL

BlackROCK

BBVA

THIEL

ppaypal

Redpoint

unichRE

payu

KKR

edb

COATUE

APOLLO

8VC

FTPartners-FocusedExclusivelyonFinTech

SelectedFTPartners’International/Cross-BorderExperience

FTpartners'globalpresenceoferscapabilitiesreachingfarbeyondNorthAmerica,asdemonstratedbyour

numerousinternationalclientsandsuccessfultransactionswithinternationalfirms&investors

TargetBuyer/InvestorInternationalAspect

Bhappay

onafriq

NNIUM

Revolut

二softBankTIGERGLOBAL

mollie

COATUE

TargetBuyer/InvestorInternationalAspect

TCVARENA

TIGERGLOBAL

payletter.

acHS

opayworksVISA

iyzicopayu

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesPaveBankonitsSeedFinancing

OverviewofTransaction

•onDecember17,2023,paveBankemergedoutofstealthandannouncedthatitraised~$5.2million

inseedfnancingledby468capitalwithparticipationfromQuonacapital,DaedalusAngels,BR

capital,andothers

•FoundedinMarch2023andbasedinsingapore,paveBankisbuildingtheworld'sfirstprogrammable

bank,oferingcustomersmult-assetbusinessbankingproducts

-pavewillenablecustomerstoexpandbeyondconventionalbankingproducts,enablingfast

paymentsandinstantsettlement,andallowingthemtotransactinstablecoins,centralBank

Digitalcurrencies(CBDCS),andtokenizedRealworldAssets(RWAS)

•Inadditiontothecapitalraise,paveannouncedithasreceiveditsfirstdigitalcommercialbanking

licenseinthecountryofGeorgia,withplanstocontinueexpandingglobally

SignificanceofTransaction

•pavewillusethenewinvestmenttooperationalizethebank,expanditssalesandtechteams,and

accelerateproductdevelopment

•Thetransactionwillalsoprovideafoundationforpavetoexpanditslicensestonewmarketsin2024

FTPartners’Role

•FTpartnersservedasthestrategicandfinancialadvisortopaveBank

•ThistransactionhighlightsFTpartners'deepdomainexpertiseinthebankingtechanddigitalassets

spaces,aswellasitssuccessfultrackrecordgeneratinghighlyfavorableoutcomesforinnovative

FinTechclientsglobally

7

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesPayzeronits$250millionSaletoWEX

OverviewofTransaction

•onoctober26,2023,WEX(NYSE:WEX)announcedthatitsignedadefinitiveagreementtoacquirepayzerfortotal

considerationofapproximately$250million

-Thedealincludesadditionalcontingentconsiderationof$11millionbasedondefnedperformancemetrics

•payzerisaful-featured,cloudbasedfeldservicemanagementplatformattheconvergenceofsaasandpayments,

helpingitscustomerssimplifyoperations,streamlinetheirsalesprocesses,andimprovecollections

-payzerhashistoricallydelivereditssolutionstosMBsintheHVAC,plumbing,androofingverticals

•WExisaglobalcommerceplatformthatsimplifesbusinesspayments,employeebenefits,fuelcards,andleet

management

•withinitsFleetsolutionssegment,WExservesover600,000customersandapproximately19millionvehicles

onitsMobilityplatforms

SignificanceofTransaction

•TheacquisitionexpandswEX'stotaladdressablemarketandadvancesthecompany'sgrowthstrategythrough

complementarysolutions,enhancedcrosssellingopportunitiesandstrongerindustryrelationships

•Additionally,theacquisitionprovidesanew,scalablesaassolutionforwEX'sapproximately150,000SMBcustomers

whooperatefeldservicecompanies

FTPartners’Role

•FTpartnersservedasthestrategicandfnancialadvisortopayzer

•FTpartnerspreviouslyadvisedpayzeronitsinJune2021

•ThistransactionhighlightsFTpartners'deepdomainexpertiseinverticalsaasandpayments

•Notably,thisisthefourthclientthatFTpartnershassoldtowEX,aswepreviouslyadvisedoptalonits$578million

combinedsalewitheNettin2020,Benaissanceonits$80millionsalein2015,andFleetoneonits$369millionsalein

2012

•ThistransactionalsohighlightsFTpartners'successfultrackrecordgeneratinghighlyfavorableoutcomesand

supportingthegrowthofitsclientsovermultipleyears,multipletransactions,andmultiplestagesofaclientlifecycle,

includingforgrowthcapitalandM&A

FinancialTechnologypartnersLP

FTPSecuritiesLLC

ispleasedtoannounceitsroleas

exclusivestrategicandfinancialadvisorto

onitssaleto

uex

fortotalconsiderationof

$250,000,000

TheonlynvestmentBank

FocusedExclusivelyonFinancialTechnology

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesNymbusonits$70millionSeriesDFinancing

OverviewofTransaction

•onMay25,2023,Nymbusannouncedthecompletionofits$70millionseriesDfinancingroundfrom

newandrepeatinvestors

-ThisroundwasledbyglobalsoftwareinvestorInsightpartnersandbolsteredbyadditional

investmentsfromNymbusclientsconnectoneBankandpeoplesBank,alongsideotherFinTech

investors,TheBancFundscompanyandMendonventurepartners

•Theannouncementfollowsapreviousannouncementofstrategicinvestmentsfromcurqlcollective,a

creditunionserviceorganization(cuso)drivingFinTechinnovationforcreditunions,viaitsagship

curqlFundandResedaGroup,awhollyownedcusoofMSUFederalcreditunion(MSUFCU)a

Nymbusclient

•Nymbushasdisruptedthefnancialservicesmarketasanalternativetolegacybusinessmodels

-withNymbus,anysizefinancialinstitutioncanquicklylaunchafull-servicedigitalbankor

migratetoitsaward-winningcore

-Nymbusbuysbackdecadesoflosttimetoengageandsupporttheentiredigitalcustomer

journey

SignificanceofTransaction

•ThecapitalinfusionwillempowerNymbustoexpeditetheexpansionandadvancementofitsmodern

coresystemanddiverseproductportfolio

•Theproceedsofthisfinancingroundwillbeputtowardinvestinginscalingvariousproductsand

services,particularlyitscoretransactionprocessingengineandplatformforcommercialbanking

FTPartners’Role

•FTpartnersservedasexclusivefinancialandstrategicadvisortoNymbus·

•ThistransactionhighlightsFTpartners'deepdomainexpertiseintheBankingTechsector,andits

successfultrackrecordgeneratinghighlyfavorableoutcomesforhigh-growthFinTechcompanies

globally

source:companywebsite,

FinancialTechnologypartnersLP

FTPSecuritiesLLC

ispleasedtoannounceitsroleas

exclusivestrategicandfinancialadvisorto

MNYMBUS

onitsseriesDfinancingledby

withparticipationffom

connectoneBank

foratotalamountof

$70,000,000

TheonlyInvestmentBank

FocusedExclusivelyonFinancialTechnology

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesJudoonitsSaletoFabrick

OverviewofTransaction

•onMay17,2023,JudoannouncedthatithadagreedtobeacquiredbyFabrickinapartcashpartstocktransaction

•Judo'smanagementwillcontinuetobehighlyinvolvedintheconsolidatedentity(alongwithFabrick'sexistingopen

paymentsplatform,Axerve)

•Foundedin2012,Judoisapaymentservicesprovider("psp")oferingmobileanddigitalcheckouts,fraudprevention

andadditionalservicestoimproveendto-endcustomerexperience;itservesmainlyuksMEswithgatewayonly,aswell

asgatewayandacquiringsolutions

•Fabrick,partoftheltalianprivatelyheldbankinggroupBancasella,offersanopenFinanceecosystem,whichis

comprisedofpaymentorchestration,openbanking,consultingandchallengerbankingsolutions

SignificanceofTransaction

•TheacquisitionofJudowillallowFabricktoexpanditsopenFinanceecosystem,furtheringitsmissiontofostertheco

creationofinnovativeservicesandproductsinthepaymentspace

•JudowillworkalongsideAxerve,Fabrick'sopenpaymentssubsidiary,anditwillallowtheGroupto:

-continueitspathofsuccessfulmodulargrowth,byonboardingJudo'smerchantsonitsplatformandgivingthem

accesstoabroadersuiteofservices

-FurtheritsgeographicexpansionplansconsolidateitsleadershippositioninItaly,andentertheukmarket

throughanestablishedplayer

FTPartners’Role

•FTpartnersservedasexclusivefinancialandstrategicadvisortoJudoonitssaletoFabrick,aswellasonpriorcapital

raises

•ThistransactionhighlightsFTpartners'deepexpertiseinthepaymentspace,aswellasoursuccessfultrackrecord

generatingfavorableoutcomesforleadingcompaniesinthespace

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesAcornsonitsAcquisitionofGoHenry

OverviewofTransaction

•onApril3,2023,Acorns,asavingandinvestingappforeverydaypeople,announcedthatithad

acquiredGOHenryanditsEuropeanarmpixpay

•Foundedin2012intheuk,GOHenryisafnancialeducationappandprepaiddebitcardwithin-

app,gamifedmoneylessonsdesignedtoteachkidsandteenshowtobesmartwithmoneyfroma

youngage

-Today,GOHenryoperatesintheukandusandmorerecentlyFrance,spainandltalywith

itsacquisitionofFrenchFinTechpixpay

•Together,AcornsandGOHenrywillserveclosetosixmillionsubscribers

•Intheus,GOHenrywilloperateasGOHenrybyAcornswhileGOHenry&pixpaywillcontinueto

operateundertheirownbrandsintheuk&Europe

SignificanceofTransaction

•TheacquisitionmarksanaccelerationofAcorns'roadmapbyputtingtheresponsibletoolsofmoney

managementandeducationinthehandsofkids,teensandadults,globally

FTPartners’Role

•FTpartnersservedastheexclusivestrategicandfnancialadvisortoAcorns

•ThistransactionhighlightsFTpartners'deepdomainexpertiseintheconsumerFinTechspace,as

wellasitscontinuedsuccessinprovidingbuy-sideadvisorytoleadingFinTechcompanies

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesAvantonits$250millionFinancingfromAresManagement

OverviewofTransaction

•onDecember7,2022,Avantannounceditsecured$250millionofcorporatedebtandredeemable

preferredequityfromAresManagementAlternativecreditfunds

•Headquarteredinchicago,Avantisacredit-firstFinTechcompanythatprovidesaccesstoinnovative

fnancialsolutions,includingpersonalloansandcreditcards,tounderservednon-primeconsumers

-since2012,Avanthasconnectedalmost3millioncustomerstodateto$8billioninloansand

over1millioncreditcards

SignificanceofTransaction

•Thisfundingcommitment,alongsideAvant'soctobersecuritizationwhichbroughtthetotalamount

ofassetbackeddebtfnancingcommitmentssecuredin2022to$1.1billion,illustratesthe

company'sabilitytosuccessfullynavigateeconomiccyclesandincreasetheresiliencyofits

fundingprofile

•Avantwillusetheproceedstofurtherfuelitscreditportfolioandnext-generationplatformenabling

astrongercompetitiveadvantage

FTPartners’Role

•FTpartnersservedastheexclusivefnancialandstrategicadvisortoAvant

•ThistransactionhighlightsFTpartners'deepdomainexpertiseintheconsumerFinTechandLending

space,aswellasitssuccessfultrackrecordgeneratinghighlyfavorableoutcomesforitsclients

source:companywebsite,

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesCapitalonTaponitsFundingfromAtalaya

OverviewofTransaction

•onoctober18,2022,capitalonTapannouncedthatithasraisedf100million(~$110million)ofnewfunding

fromAtalayacapitalManagement

•capitalonTapisanall-in-onecreditcardandspendmanagementplatformactiveintheukandus,focused

specifcallyonsmallbusinesses

-Thecompany'snimbleandhighlyautomatedonboardingprocesstakesbusinessownersthrougha5-

minutecustomerjourneyfromapplicationtocreditcardaccess

-Inadditiontothecreditcard,theplatformallowsownerstoeasilymanagetheirspendaswellasthespend

oftheiremployees,integratethecardswithexistingaccountingsolutionsandearnrewardsonspend

volume

-capitalonTap'splatformhasatrackrecordofhavingservedmorethan200,000smallbusinessesand

disbursingmorethan$5billioninfunding

SignificanceofTransaction

•capitalonTaphasdemonstratedatrackrecordofrapidgrowth;thetransactionwillenablethecompanyto

profitablyaccelerategrowthandcontinuetoinvestintechnologyandnewproducts

•Atalayaisaprivatelyheldalternativeinvestmentfrm,andtheinvestmentrepresentsacontinuedcommitmentof

supportforcapitalonTap

FTPartners’Role

•FTpartnersservedastheexclusivestrategicandfinancialadvisortocapitalonTaponthistransaction

•ThetransactionhighlightsFTpartners'industry-leadingexpertiseandsuccessfultrackrecordwithinthesMB-

FinTechsolutionsspace

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesKantoxonitsSaletoBNPParibas

OverviewofTransaction

•onoctober11,2022,kantoxshareholdersagreedtothesaleofkantoxtoBNpparibas("BNPP")inanall-

cashtransaction,leadingtoBNppowning100%ofkantox

•completionofthetransactionissubjecttoregulatoryapprovalsandisexpectedinthecomingmonths

•kantoxisaleadingFinTechproviderfortheautomationofcurrencyriskmanagement;itssoftwaresolution

hasmanagedtosuccessfullyre-bundlethecorporateFxworkfow,offeringaone-stop,APIdriven,plug-

and-playsolutionwhichhasemergedasauniquetechnologywithintheB2Bcrossborderpaymentssector

•ltsuniqueproposition,revenuemodelhighlydiversifedcustomerbase,footprintandstrongbank

partnershipshavedrivenrapidgrowthandpavedthewayforaclearpathtosustainableandrecurring

profitability

SignificanceofTransaction

•Byleveragingitsintegratedbusinessmodel,BNppwillbewellpositionedtoaccelerateandextendkantox's

oferingtolargecorporatesaswellassMEsandMid-capbusinesses,capitalizingonmarketknowledgeand

globalpresenceandunlockingsignifcantsynergypotential

FTPartners’Role

•FTPartnersservedasexclusivefnancialandstrategicadvisortokantoxonthistransaction,andpreviously

advisedkantoxonasuccessfulcapitalraisein2019

•ThistransactionunderscoresFTpartners'deeppaymentsdomainexpertiseandsuccessfultrackrecordof

generatingfavorableoutcomesforleadingcompaniesinthespace

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesMoniepointonitsFinancingRound

OverviewofTransaction

•onAugust10,2022,Moniepoint(formerlyTeamApt)announcedafinancingroundandbroughtonboard

oneoftheworld'slargestFinTechspecialists,QEDInvestorsjoinedbyexistingbackersfromLightrock,BII

andNovastar

•TeamAptoperatesNigeria'slargestbusinesspaymentsandbankingplatform,withmorethan400,000

businessesonboardedandprocessing$100billionannualizedrun-ratetransactionvalue

•Thecompany'sall-in-onebusinessplatformaimstodigitizeAfrica'seconomybyprovidingsMBswith

businessbankingsolutionsincludingdigitalpaymentsacceptancechannels,accesstoinsurance,working

capitalandbusinessexpansionloans,andbusinessmanagementtoolssuchasexpensemanagement

(businesspaymentscards),accounting,book-keepingsolutionstomanagetheiroperations

•Moniepointhasgrownbymorethan300%annuallysincelaunchingafewyearsagoandhasambitiousplans

togrowitsbusinessinNigeriaandbeyond

SignificanceofTransaction

•TheinvestmentwillhelpMoniepointfurthergrowitscustomerbaseandexpanditsproductportfolioin

particularwithvariouscreditofferings;QED'sglobalexpertiseinbuildinginhousecreditsolutionswillboost

Moniepointsrobustcreditfunction

•ThistransactionrepresentsthefrstAfricaninvestmentbyQED,atoptierFinTechfocusedinvestorand

showcasestheattractivenessoftheAfricanFinTechmarketanditsfundamentalgrowthtrends

FTPartners’Role

•FTpartnersservedasexclusivefinancialandstrategicadvisortoMoniepointonthisfinancinground

•ThetransactionhighlightsFTpartners'trackrecordinthepaymentsspaceacrossemergingmarkets

includingAfrica

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesLendableonits$275millionGrowthEquityFinancing

OverviewofTransaction

•Lendablehasraisedf210million(~$275million)ofnewcapitalledbyontarioTeachers'pensionplaninitslatest

growthequityfinancinground

•Co-foundedin2014byMartinkissingerandvictoriavanLennep,LendableisanAl-ledconsumerfinanceplatform,

headquarteredintheuk,offeringaseamlessandtransparentmulti-productexperience

-Thecompany'stechnologyplatformconnectsglobalinstitutionalinvestorswithborrowersacrossloans,

creditcardsandcarfinance

-Thecompanyappliesmachinelearningandautomationtodatasetsleadingtobetterrates,transparency

underwritingandultimatelycustomerservice

-LendablealsoplanstowidenitsofferingtoincludenewproductssuchasBNPLaswellasexpandinthe

US

•Theaddressableconsumercreditmarketacrosstheukandtheusisestimatedat~$3trillion

•Lendablehasbeenprofitablesince2017

SignificanceofTransaction

•Lendablehasanunparalleledprofilethroughitsuniquecombinationofgrowth,scaleandprofitability;the

transactionwillfurtheraccelerateLendable'sgrowth,expanditsproductofering,andsupportitsupcominglaunch

intheus

•ontarioTeachers'pensionplanisoneoftheworld'slargestinstitutionalinvestors,andtheinvestment,via

Teachers'Innovationplatform,representsitscontinuedcommitmenttosupportingcutting-edgeprivatetech

companiesledbymission-drivenentrepreneurstohelpfulfltheirvisionandshapebetterfutures

FTPartners’Role

•FTpartnersservesasexclusivefinancialadvisortoLendable

•ThetransactionhighlightsFTpartners'industry-leadingexpertiseandsuccessfultrackrecordwithinlendingand

thebroaderconsumerfinancesector

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesCrossRiveronits$620millionFinancing

OverviewofTransaction

•onMarch30,2022crossRiverannouncedits$620millionseriesDfinancingroundledbyEldridgeand

AndreessenHorowitz

-crossRiverprovidesessentialinfrastructureenablingstrategicpartnerstoofferleading

embeddedpayments,cards,lendingandcryptosolutionstocustomers

-T.Roweprice,whaleROCK,Hanacoandotherinvestorsalsoparticipatedintheround

•crossRiverisaleadingtechnologyinfrastructureproviderenablingthedeliveryofinnovativefinancial

solutionstomillionsofconsumersandbusiness

-Builtonitsproprietaryrea-timebankingcore,crossRiverprovidesessentialservicestothe

fastestgrowingfintechplatforms

-crossRiveristhetechnologysupportingmanyofthelargestfintechcompaniesintheworld

suchasAfirm,coinbase,RocketLoans,stripe,upgradeandupstat

SignificanceofTransaction

•ThecapitalinfusionwillacceleratecrossRiver'stech-focusedgrowthstrategybybuildingout

embeddedfnancialsolutions,bolsteringstrategicpartnershipsandcontinuingplansforinternational

expansion

FTPartners’Role

•FTpartnersservedasexclusivestrategicandfinancialadvisortocrossRiver

•ThistransactionhighlightsFTpartners'industry-leadingexpertiseacrosstheBankingTechspaceandits

successfultrackrecordgeneratinghighlyfavorableoutcomesforFinTechcompaniesglobally

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesNeononits$300millionSeriesDFinancing

OverviewofTransaction

•onFebruary14,2022,Neonpagamentos,s.A.(Neon)announcedthatithasraisedus$300million(R$1.6

billion)ofnewcapitalfromBBVA(NYSE:BBVA)initsseriesDfinancinground

•NeonisBrazil'sfirstneobankdedicatedtoservingtheunderbankedBrazilianworkingclass,offeringno-fee

digitalaccounts,creditcards,payroll/personalloans,investmentservices,andmicroentrepreneurfinancial

services

-Neonprovidesitscustomerswithabroadmenuofdigitalbankingproducts,democratizingaccessto

creditforindividualworkersandsupportingBrazil'sthrivingecosystemofmicroentrepreneurs(MEls)

-Thecompany's"Democredit"platform,aproprietaryunderwritingmodel,leveragesover20adaptiveAl

modelstoinstantlyofercredittounderbankedBrazilianworkers

•Today,NeonhandlesmorethanR$5.8billioninmonthlytransactionsandservesmorethan15million

customersthroughoutBrazi

SignificanceofTransaction

•Neonhasademonstratedtrackrecordofrapidgrowth;thetransactionwillenableNeontoinvestin

technology,marketing,newproductsandcapitaltoaccelerateNeon'sgoalofbeingthebestpartnerforthe

Brazilianworker

•BBVA'sisoneofthelargestfinancialservicesinstitutionsinLatinAmerica,andtheinvestmentrepresentsa

continuedcommitmenttofostertoptierfintechinnovationinoneofthemostpromisingemergingmarkets

FTPartners’Role

•FTpartnersservedasexclusivestrategicandfnancialadvisortoNeon

•ThetransactionhighlightsFTpartners'industry-leadingexpertiseandsuccessfultrackrecordwithinconsumer

FinTechandemergingmarkets

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesTruebillonits$1.275billionSaletoRocket

OverviewofTransaction

•onDecember20,2021,Rocketcompanies(NYSE:RKT,theDetroit-basedplatformcompanyconsistingof

tech-drivenrealestate,mortgageandfnancialservicesbusinesses,announcedithasenteredintoan

agreementtoacquireTruebill,theleadingpersonalfinanceappthathelpsconsumersmanageeveryaspectof

theirfinanciallives

-RocketwillacquireTruebillforapproximately$1.275billionincash

•Foundedin2015,Truebillcurrentlyhas2.5millionmembers,andhasdoubleditsuserbaseinjustthelastyear

-Thecompanycurrentlyanalyzes$50billioninmonthlytransactionvolumeandhassavedconsumers

$100million+sinceitsfounding

•Truebill'sabilitytoleveragetechnologytoimproveitsclients'financialhealthaddstoRocket'send-to-endreal

estateandhomefnancingexperienceexpandingrealestateplatform,andquicklygrowingautomotivesales

marketplace

SignificanceofTransaction

•TheacquisitionofTruebillacceleratesRocketcompanies'visiontohelpclientsincomplexmomentsTruebill

willdeepenengagementwithclientsandhelpmillionsofconsumersimprovetheirfinanciallives

•TheacquisitionbringsmillionsofclientstotheRocketplatformandaddsmorethan$100millioninannual

recurringrevenueandsupportsaneworganicgrowthopportunityandasignifcantchanneltonurtureclients-

keepingthemengagedinRocket'SFinTechecosystembyprovidingvaluebetweenthelargefinancial

transactionsthatRocketcompaniesisknownfor

FTPartners’Role

•FTpartnersservedasexclusivefinancialandstrategicadvisortoTruebill

•ThistransactionhighlightsFTpartners'deepdomainexpertiseintheconsumerFinTechsector,andits

successfultrackrecordgeneratinghighlyfavorableoutcomesforhigh-growthFinTechcompaniesglobally

FTPartners–FocusedExclusivelyonFinTech

FTPartnersAdvisesUpgradeonitsSeriesFFinancing

OverviewofTransaction

.onNovember16,2021,upgradeannounceditraised$280millioninseriesFfinancingledbycoatue

ManagementandDSTGlobalwithparticipationfromDragoneerInvestmentGroupandexisting

investors

−Theroundvaluesthecompanyatmorethan$6billion,whichrepresentsa~2xincreaseover

theprior2021round

.upgradeisaneobankthatoffersaffordableandresponsiblecredittomainstreamconsumersthrough

cardsandpersonalloans,alongwitharewardscheckingaccountthatoffers2%cashbackrewardsto

consumersoncommoneverydayexpensesandmonthlysubscriptions

.upgradehasdeliveredover$10billioninafordablecredittomainstreamconsumersthroughcardsand

loanssinceinceptionin2017,andisontracktodeliver$8billionin2021alone

.upgradewasrecognizedasthefastestgrowingcompanyintheAmericasbytheFinancialTimesearlier

thisyear,andupgradecardwasrecentlyrecognizedbyNilsonReportasthefastestgrowingcreditcard

intheus,markingthefirsttimeaFinTechcompanyislistedamongthetop50uscreditcardissuers

SignificanceofTransaction

.Theinvestmentwillfueltherapidgrowthofupgradecard,aninnovativecreditcardthatbringsthelow

costofresponsiblecreditofinstallmentlendingtomillionsofretaillocationsintheu.s.

FTPartners’Role

.FTpartnersservedasexclusivefnancialandstrategicadvisortoupgrade

.FTpartnerspreviouslyadvisedupgradeonitsseriesDfinancingledbysantanderInnoventuresin2020

andseriesEfinancingledbykDTinAugust2021-overthistimeperiodupgrade'svaluationhas

grownover~6x

.ThistransactionhighlightsFTpartners'