Category Archives: Venture funding Best Practices

Facing disaster, corporate venture capital to undergo key stress test

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Pitchbook | Alexander Davis | March 24, 2020

Sanfrancisco - Facing disaster, corporate venture capital to undergo key stress testAfter driving much of the venture capital market's hyper-growth in recent years, corporations are poised for a decisive stress test of their zeal for funding startups.

Heading into 2020, it wasn't unreasonable to forecast another record year for VC financing involving corporate venture capital arms, such as those of titans Intel, Salesforce and Google.

But that was before the coronavirus brought the world economy to a standstill.

Turmoil spurred by the global health emergency has given rise to a new mantra for business decision-makers: Hit pause.

Inside boardrooms of every stripe, countless investment decisions are either being postponed or subjected to fresh scrutiny. Companies are suddenly on guard as they struggle to take the measure of an unfolding economic disaster, in a challenge of their commitment to venture funding.

"In that hunker-down scenario, all spending goes through a rigorous review, obviously," said Pradeep Tagare, head of the $250 million corporate venture fund at UK-based energy company National Grid. "One of the first things that gets hit is the venture capital part of it because that's an easy thing to step back on."

Corporate VC departments make strategic bets on markets, innovations, partnerships and entrepreneurial talent as a way to propel their parent companies to stretch into bold new directions. In recent years, a wide variety of corporations across all industrial sectors and geographies have jumped into the VC market, including JetBlue, Yamaha Motor and even outdoor gear company Patagonia. Just last week Dating.com said it would start investing out of a $50 million corporate fund for early-stage deals.

See:  Bank On It Podcast: Turning a Funding Failure Into a Win

Because corporations, notably SoftBank, played such a pivotal role in private fundraising recently, their willingness to stick to their VC strategies in this new downturn could go a long way toward shaping the pool of capital that will be available in the months and perhaps years to come.

Last year, startups raised roughly $136 billion in VC funding and about $141 billion in 2018. For their part, corporate venture firms participated in 1,849 US funding rounds totaling $57 billion—second only to the 1,871 deals worth $71 billion in 2018, according to PitchBook data.

Already there are signs of the coronavirus epidemic's chilling effects. Tagare said that two separate funding rounds that National Grid is backing have seen a pair of would-be CVC partners back out in recent days.

"A freeze in all activity is definitely starting to happen," Tagare said, adding that the remaining firms in the deals expect to find partners to fill the gaps left by the ones that got cold feet.

In SoftBank's case, the outlook is so dire that the company, which operates the $100 billion Vision Fund, said publicly this week that it will shed about $41 billion worth of assets as it struggles to regain investor confidence following a series of stumbles even before the global pandemic wiped out 40% of its market capitalization. SoftBank invests off its own balance sheet in addition to the Vision Fund, which raised outside capital from sovereign wealth funds and other institutions.

Under more predictable market conditions of the past several years, VC firms grew accustomed to writing checks in funding rounds that were left open without all the target capital spoken for. Tagare said that will no longer happen in this environment, adding,

"Investors are making sure that capital coming in will give the company 18 to 24 months of runway."

See:  Corporate venture capital deals hit new record as banks invest in fintech competitors

As of Friday, there have been 304 deals worth $14.2 billion with CVC participation in Q1. That's about 100 deals behind the quarterly pace seen in the past years, according to a PitchBook analysis.

One corporate VC based in Silicon Valley said that the COVID-19 crisis has caused "quite a bit of disruption" for the firm's portfolio companies in the midst of fundraising. "We're also seeing cash runways getting squeezed as revenue targets get lowered."

The damage done to the VC investing landscape may not be known until midyear, said Kyle Stanford, a venture analyst at PitchBook.

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NCFA Jan 2018 resize - Facing disaster, corporate venture capital to undergo key stress test The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Canadian small businesses are facing extinction amid lockdowns

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The Globe and Mail OpEd | Cato Pastoll | March 24, 2020

small business empty covid19 - Facing disaster, corporate venture capital to undergo key stress testNo one planned for this. COVID-19 has brought the global economy to a standstill. With many provinces closing non-essential businesses, and consumption and consumer confidence decreasing, many Canadian small businesses are looking at extinction.

Businesses surveyed by Lending Loop, on average, have less than 30 days of cash on hand to weather this storm. This is not a new finding. In 2016, a JP Morgan study showed that the average restaurant, retailer and manufacturer had 16, 19 and 30 days of cash on hand, respectively. As revenue declines continue in the coming weeks and months, their futures look incredibly bleak.

By all accounts, the federal government knows small and medium-sized businesses constitute the backbone of our economy because they support at least 70 per cent of all jobs in Canada. Yet, the majority of our governments’ efforts are dedicated to supporting individuals and not businesses. While the enhanced Employment Insurance programs are helpful measures, the disappearance of our businesses would mean there would be no jobs to return to once the pandemic is over.

See:  Lending Loop Surpasses $50 million Milestone and helps thousands of Canadian Businesses and Investors

The importance of small and medium-sized businesses in Canada cannot be overstated. Canadian small businesses make up 41.7 per cent of our GDP. Businesses with fewer than 10 employees make up 73.5 per cent of the private-sector employers in Canada. From 2013 to 2018, 56.8 per cent of all new jobs were created by small businesses. To put these numbers into perspective, small businesses in Canada collectively employ six times more Canadians than large Canadian businesses. In Canada, they are the giants of our prosperity.

At Lending Loop, we have supported Canada’s small-business community with financing for five years. Over the past week, our team has collected data every day from Canada’s small-business community, and the picture these data paint is more concerning than anyone could have imagined: While the magnitude of the effects of COVID-19 do depend on the industry and size of business, almost every single small-business owner is staring at the possibility of closing their doors for good.

We know the federal government will step in for the banks, airlines and oil companies, but Canadians need our municipal, provincial and federal governments to step in and support the real engine of our economy: small businesses. Every small business in Canada is on a countdown clock to extinction. We would not recognize our country without them.

Small businesses in the food service, travel and tourism, retail and education industries are looking at March revenue declines of 70 per cent or more. Revenue declines of this magnitude will initially result in layoffs, delaying payment to vendors and suppliers (other small businesses), and eventual closure. As layoffs continue to grow, consumer demand will decline significantly, further compounding the economic challenges for our economy.

Governments around the world have understood the role of small and medium-sized businesses in the health of their national economies, and have begun to take swift action. Britain has announced that 80 per cent of payrolls for private companies will be paid by the government, in addition to offering an emergency loan program for businesses, which is expected to include a guarantee program utilizing fintech lenders that can deploy capital quickly. In Denmark, the government is covering 75 per cent of wages to avoid mass layoffs. The U.S. government is currently voting on a stimulus package that includes significant payroll support for small businesses.

See:  Survey finds Canadian small businesses seeing 50 percent revenue decline amid COVID-19

While Business Development Canada has been given more funds to lend, most Canadian small businesses are not eligible to access their loan programs and one Crown corporation cannot possibly deal with the magnitude of this issue alone. Solutions such as the 10-per-cent wage subsidy, and deferred tax and hydro bills barely scrape the surface of the problem. No current measure in Canada goes far enough to keep small businesses - your local restaurant, coffee shop, retailer, bookstore, hair stylist or wellness provider - alive or with any viable prospect of future return.

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NCFA Jan 2018 resize - Facing disaster, corporate venture capital to undergo key stress test The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Raising Capital in a Pandemic World

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Medium | Victoria Bennett | March 18, 2020

fundraising in a pandemic - Facing disaster, corporate venture capital to undergo key stress test

This week has seen considerable changes in the world, from markets falling, oil prices falling, schools closed, borders closed. We’re moving into a new world order, and this isn’t for a week or two. How can your business stay healthy and grow?

Your company needs to prepare for this new world order. Firstly, look at spending and consider how you can reduce your burn rate? Look at your revenues. What will this ever-changing world do to your revenues? If some taps are turned off, how can you reposition your company to access new revenue streams? Government stimulus funding may help you to access the new revenue streams or pivot.

It’s not all doom and gloom. The 2008–2009 recession founded Uber, AirBnB and Slack, disruptive businesses that took the opportunities in the market. Other companies grew through acquisition and benefited from cheaper assets.

How can you raise the capital to grow and grab the opportunities that the changes with coronavirus bring?

Most outside money, such as Angel Investors or VCs, requires kissing many frogs. You have to meet a large number of people, typically face to face, to build understanding, trust and secure funding.

Last week our company was due to host three investor events. The first one on Tuesday, had over fifty people in Vancouver, the second on Wednesday twenty in Calgary. Then the third back in Vancouver had to be cancelled as the venue went on COVID-19 lockdown. With Social Distancing measures, traditional fundraising needs to be turned on its head.

See:  Funding in the Time of Coronavirus

Crowdfunding may be the solution to raise capital from a large number of investors across the whole country without meeting them face to face. The whole process takes place online, from reviewing the offering documents, signing and paying. It can all take place without any face to face interaction. That provides social distance for the investor, the company’s employees and lawyers.

Crowdfunding works best where you can tell a story because people like to back what they believe in, and that is certainly the case for retail investors. For larger investors, they are often looking for deal flow. A crowdfunding platform can provide both. The video gives you a chance to see the team, and to understand their why? The “why” is vital because that motivates companies through the bad times as well as the good.

It is important to tell your story and make it relevant to the current reality, but you need to be authentic too. Next week we are launching an equity crowdfunding campaign for a pain-free needle. The device is pre-dosed and has an enclosed sharp; therefore, it doesn’t require sharps disposal. In the not too distant future, there will be a need to vaccinate a large global population quickly, without fear of pain, or mis-dosing or sharps disposal in developing countries, and at a similar price to a syringe and vial of the drug. PKA SoftTouch, who developed the device, has a story that is natural and resonates in the current landscape.

Breaking through the noise

It is noisy out there; social media feeds are full of COVID-19 advice and emails acknowledging that every company you have ever dealt with has a COVID-19 policy. This too will pass. Advertising spend is already decreasing. With potential drops in revenue, this does make sense, but the companies that responded best after 2008 were the companies that remained in the market and continued to tell their stories. If you are crowdfunding, it will be easier to get your story out, as you will be competing with fewer companies and lower overall marketing spend.

See:  Getting In Early: SEC Sees Growth In Equity Crowdfunding

We are social creatures; working from home, we may look to other ways to stay connected. Business channels such as Slack, LinkedIn and Zoom and social channels such as Instagram and Facebook will be our source of connection. These are the main outreach channels for crowdfunding. The increase in working from home means potential investors could have more time without the daily commute and be online more, as well.

A webinar will replace the events cancelled on Thursday and this Tuesday. Potential investors have the opportunity to ask questions and gain trust and understanding so that they can move forward to invest. A face to face launch event scheduled the following week will be live-streamed. This will allow a small group from the company to be present and the larger group of interested investors to meet the team and hear the key information.

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NCFA Jan 2018 resize - Facing disaster, corporate venture capital to undergo key stress test The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Crowdfunding: Fundamental Cases, Facts, and Insights

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Elsevier | Douglas Cumming and Sofia Johan | March 15, 2020

Crowdfunding cases facts and insights - Facing disaster, corporate venture capital to undergo key stress testCrowdfunding: Fundamental Cases, Facts, and Insights presents fundamental knowledge about a maturing economic field. Assembling and arranging datasets, case analyses, and other foundational materials on subjects associated with crowdfunding, it systematically, comprehensively, and authoritatively provides access to a consistent body of crowdfunding research. With the crowdfunding industry now consolidated, this core reference can serve as the basis for research projects and applied work.

"This book provides insightful cases and statistics from around the world on how rewards and equity crowdfunding markets work. It also includes useful information on marketplace lending. It is a great resource for entrepreneurs and investors, as well as for policymakers, academics, and students."
– Craig Asano, Founder and CEO, National Crowdfunding and Fintech Association

See:  Crowdfunding campaign raises $3 million to protect Princess Louisa Inlet property

"Crowdfunding offers detailed analyses of rewards and equity crowdfunding markets using statistical methods and case studies. I recommend it for academics, practitioners, and policymakers who seek a rigorous look at crowdfunding markets around the world."
– Jay Ritter, Joseph B. Cordell Eminent Scholar Chair, Warrington College of Business, University of Florida

Key Features

  • Presents a complete scope of crowdfunding areas in the international landscape
  • Combines economics with international business, management, law and finance
  • Enables practitioners and researchers to compare regulatory frameworks, best practices and market opportunities
  • Includes a freely available website of supplementary pedagogical material

Readership

Graduate students and professionals working in the economics of crowdfunding and, more generally, entrepreneurship

Table of Contents

Part 1: Introduction to Crowdfunding
1. Introduction
2. Overview of agency and signaling theory in crowdfunding
3. Overview of institutional contexts and empirical methods

Part 2: Rewards Crowdfunding
4. An overview of rewards-based crowdfunding
5. Crowdfunding models: Keep-it-all versus all-or-nothing
6. Crowdfunding cleantech
7. Crowdfunding to internationalize

Part 3: Crowdinvesting
8. Equity crowdfunding, valuation, and cases
9. Equity crowdfunding and governance
10. Signaling in equity crowdfunding
11. Are equity crowdfunders sensitive to distance?
12. Cash-clow and control rights in equity crowdfunding
13. Does equity crowdfunding democratize access to entrepreneurial finance?
14. Marketplace lending

Part 4: Crowdfunding Regulation and Policy
15. Introduction to crowdfunding regulation and policy
16. Demand-driven crowdfunding regulation
17. Public policy toward entrepreneurial finance: Spillovers and scale-up
18. Regulation and investment in fintech ventures
19. Crypto regulation

Part 5: Conclusion
20. Summary, conclusion, and looking forward

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NCFA Jan 2018 resize - Facing disaster, corporate venture capital to undergo key stress test The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Another record breaking year for Canadian VC as AI, FinTech, cybersecurity reach new heights

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Betakit | | Feb 10, 2020

funding by region 2019 - Facing disaster, corporate venture capital to undergo key stress testPwC Canada and CB Insights have released the MoneyTree report on Canadian investment trends for the second half and full year of 2019 (all figures in USD).

“Increased competition for funding from global investors has created a healthy funding environment for Canadian startups.”

Last year saw Canadian venture capital (VC) funding rise to a record-setting $4.1 billion. Although Canadian funding experienced an 11 percent decline in deal count last year, the report tracked a 16 percent increase in year-over-year funding. Some massive rounds from last year were not included in this year’s report, including Verafin’s round, as the company did not disclose the debt and equity break out, and Sonder’s $210 million raise as the company is now headquartered in the United States.

A strong year for AI, FinTech, cybersecurity

Artificial intelligence companies saw increased investor attention in 2019, investment in Canadian AI companies more than doubled in the second half of 2019.

Last year’s funding to Canadian AI companies saw a 49 percent year-over-year increase in 2019 to $658 million with deal count reaching a new record at 57 deals.

See:  The paradox of 2020 VC is that the largest funds are doing the smallest rounds

This doubling of investment in the sector represented a 176 percent half-over-half increase compared to the same period in 2018. Although there was a jump in dollars invested, there was a slight decline in deal count, which the report said reflects the rise of larger deals in the sector. Element AI’s $200 million CAD Series B was among the top five largest VC rounds of the year.

“Deal share by stage to Canadian AI startups suggests the ecosystem is maturing, as a number of companies have progressed from seed- to early- to expansion-stage over the past few years,” the report noted.

FinTech companies also saw a striking rise in funding, as well as deal activity, raising $776 million in 2019, a 104 percent boost from 2018. Deal count in the FinTech sector rose to 59, up 11 percent year over year.

“There’s a strong link between well-funded FinTech companies and strategic channels [and] partnerships with the larger banks,” said Eugene Bomba, partner at the national technology sector at PwC Canada.

The cybersecurity sector also had a strong year, with $398 million deployed across 19 deals.

“Consistent with global trends, 2019 was a record year for cybersecurity funding in Canada alongside rising deal activity,” said Sajith Nair, partner at cybersecurity and privacy at PwC Canada. “From the protection of personal identity to critical company assets, funding to cybersecurity continues to rise as organizations and executives grasp the importance of preventative and detective measures in order to avoid a major crisis and build digital trust.

See:  Corporate venture capital deals hit new record as banks invest in fintech competitors

Investment activity in the Canadian digital health space declined marginally in 2019. Digital health companies, in particular, saw a reduction in both financing and deal count last year, with invested capital falling 26 percent year-over-year and deal count dropping 14 percent.

“The complexity of payer models and procurement cycles in digital health continues to be a challenge to growth and adoption in Canada,” said Cameron Burke, managing director of the technology sector at PwC Canada. “The fact that health and wellness made up over 50 percent of H2 2019 deals reflects that complexity and capital is going towards a simpler growth strategy.”

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NCFA Jan 2018 resize - Facing disaster, corporate venture capital to undergo key stress test The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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The paradox of 2020 VC is that the largest funds are doing the smallest rounds

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TechCrunch | Danny Crichton | Jan 17, 2020

VC funding rounds 1 - Facing disaster, corporate venture capital to undergo key stress testI talked yesterday about how VCs are just tired these days. Too many deals, too little time per deal, and constant hyper-competition with other VCs for the same equity.

One founder friend of mine noted to me last night that he has already received inbound requests from more than 90 investors over the past year about his next round — and he’s not even (presumably) fundraising. “I may have missed a few,” he deadpans — and really, how could one not?

All that frenetic activity, though, leads us to the paradox at the heart of 2020 venture capital: It’s the largest funds that are writing the earliest, smallest checks.

That’s a paradox because big funds need big rounds to invest in. A billion-dollar fund can’t write 800 $1 million seed checks with dollars left over for management fees (well, they could, but that would be obnoxious and impossible to track). Instead, the usual pattern is that as a firm’s fund size grows, its managing partners increasingly move to later-stage rounds to be able to efficiently deploy that capital. So the $200 million fund that used to write $8 million Series As transforms into a $1 billion fund writing $40 million Series Bs and Cs.

See:  Corporate venture capital deals hit new record as banks invest in fintech competitors

That’s logical. Yet, the real logic is a bit more complicated. Namely, that everyone is raising huge funds.

As this week’s big VC report from the National Venture Capital Association made clear, 2019 was in many ways the year of the big fund (and SoftBank didn’t even raise!). Twenty-one “mega-funds” launched last year (defined as raising more than $500 million), and that was actually below the numbers in 2018.

All that late-stage capital is scouring for late-stage deals, but there just aren’t that many deals to do. Sure, there are great companies and potentially great returns lying around, but there are also dozens of funds plotting to get access to that cap table, and valuation is one of the only levers these investors have to stand out from the fray.

This is the story of Plaid in many ways. The fintech data API layer, which Visa announced it is intending to acquire for $5.3 billion, raised a $250 million Series C in late 2018 from Index and Kleiner, all according to Crunchbase. Multiple VC sources have told me that “everyone” looked at the deal (everyone being the tired VCs if you will).

But as one VC who said “no” on the C round defended to me this week, the valuation last year was incredibly rich. The company had revenues in 2018 in the upper tens of millions, or so I have been told, which coupled with its publicly reported $2.65 billion Series C valuation implies a revenue multiple somewhere in the 30-50x range — extremely pricey given the company’s ongoing fight with banks to ensure it can maintain data access to its users’ accounts.

Jeff Kauflin at Forbes reported that the company’s revenues in 2019 are now in the lower three digits of millions, which means that Visa likely paid a similarly expensive multiple to acquire the company. Kleiner and Index doubled their money in a year or so, and no one should complain about that kind of IRR (particularly in growth investing), but if it weren’t for Visa and the beneficial alchemy of exit timing, all might have turned out very differently.

See:  The disruption of Canada’s private capital markets

Worse than just expensive valuations, these later-stage rounds can become very proprietary and exclusive. From the sounds of it, Plaid ran a fairly open process for its Series C round, which allowed a lot of firms to look at the deal, helping to drive the valuation up while limiting dilution for earlier investors and the founder. But that’s not the only way to handle it.

Increasingly, firms that invested early are also trying to invest later. That Series A investor who put in $5 million also wants to put in the $50 million Series B and the $250 million Series C. After all, they have the capital, already know the company, have a relationship with the CEO and can avoid a time-consuming fundraise in the process.

So for many deals today, those later-stage cap tables are essentially locking out new investors, because there is already so much capital sitting around the cap table just salivating to double down.

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NCFA Jan 2018 resize - Facing disaster, corporate venture capital to undergo key stress test The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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FT Partners Report (Jan 2020): The Rise of Challenger Banks: Are the Apps Taking Over?

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FT Partners | Jan 2020

FTP rise of challenger banks research - Facing disaster, corporate venture capital to undergo key stress testExecutive Summary:

The banking sector is experiencing a major shift globally, as Challenger Banks are becoming increasingly formidable competitors to traditional banks and have begun to capture significant market share. Furthermore, the lines between banks and other consumer financial services providers are blurring, with several alternative lenders and robo-advisors beginning to offer banking products to their customers. E-commerce / internet giants are also jumping into the fray with Google and Amazon, among others, beginning to offer banking products. In response to the emergence of Challenger Banks, a number of incumbent banks have launched their own FinTech brands, and traditional financial institutions will likely turn to FinTech solution providers in order to defend their turfs.

 

Download this Jan 2020 FT Partners Fintech research (216 page PDF) -> Now

 


NCFA Jan 2018 resize - Facing disaster, corporate venture capital to undergo key stress test The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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