Mapping fintech's top players, imitators

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The Daily Pitch: VC

November 24, 2021

Like our newsletter? The data comes from the PitchBook Platform — our data software for VC, PE and M&A

In today's Daily Pitch, you'll find:

We mapped the leading fintech specialists in five categories and the most prominent companies seeking to emulate their success.

Our Emerging Tech Indicator report examines how newer segments like decentralized finance and gaming are hauling in VC funding.

Impossible Foods has raised a $500 million funding round as alternative protein makers race to grab market share.

Today's Top Stories

Web3 & DeFi deals highlight shift in VC funding trends

The Emerging Tech Indicator provides a quarterly overview of startups receiving seed- and early-stage investments from a limited subset of VC funds. In the third quarter of 2021, our analysts tracked 189 early-stage and seed deals that involved the top 15 VC firms—totaling $6 billion in capital investment.

The Q3 2021 Emerging Tech Indicator takes a look at five emerging market segments, including Web3 & DeFi, enterprise SaaS and gaming, and offers unique perspectives on the products and technologies driving innovation and growth opportunities.

read the report

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Mapping the fintech world's top players and their most successful imitators

(elenabs/Getty Images)

Many fintech companies have steered clear, for now, from significant international expansion—in large part due to regulatory differences between regions.

This has allowed a plethora of startups to replicate the most successful fintech models and adapt them to their local markets.

We mapped fintech's leaders in five categories and the most prominent companies seeking to emulate their success in different parts of the world.

Recommended Reads

Pension funds and other big investors that have made the leap into crypto are outperforming their peers—at least for now. [Institutional Investor]

Scientists have created a 3D-printable bacterial ink that's ability to grow and heal itself could make it a crucial renewable building material. [The New York Times]

Has Amazon's growing mass of customer data become so large that the company can no longer protect it? [Wired]

Since yesterday, the PitchBook Platform added:

25

VC valuations

3494

People

468

Companies

28

Funds

See what our data software can do

Quick Takes


	The Daily Benchmark
	2018 Vintage Global Funds-of-Funds
	VC Deals
	Niantic secures $300M at $9B valuation
	Speech recognition startup Verbit lands $250M
	Vercel picks up $150M Series D
	Luma Health raises $130M
	Peek.com books $80M Series C
	Bitrise collects $60M
	Exits & IPOs
	Manscaped to go public via SPAC
	Fundraising
	Seaya Ventures, Cathay Innovation hold first close of $125M Latin American fund

The Daily Benchmark

2018 Vintage Global Funds-of-Funds

Median IRR

23.97%

Top Quartile IRR

32.77%

1.30x

Median TVPI

Select top performers

Industry Ventures Partnership Holdings V

Top Tier Venture Velocity Fund 2

Fort Washington Private Equity Investors X

*IRR: net of fees

37 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

Niantic secures $300M at $9B valuation

Pokémon Go creator Niantic has raised $300 million from Coatue at a $9 billion valuation. The company is the developer of an augmented reality platform. The funding will be used in part to expand the San Francisco-based company's new AR developer kit.

View round

View 25 competitors »

Speech recognition startup Verbit lands $250M

Verbit has raised a $250 million Series E led by Third Point Ventures. Founded in 2017, the company provides AI-powered speech recognition technology for use in transcription and captioning. The funding values Verbit at $2 billion, double the valuation it garnered after a $157 million Series D in May.

Additional Investors:

40 North Ventures, Disruptive AI, More Capital, Samsung Next, Sapphire Ventures, TCP, Vertex Growth

View round

View 13 competitors »

Vercel picks up $150M Series D

Vercel has raised $150 million at a $2.5 billion valuation in a round led by GGV Capital. The company is the creator of a front-end web development platform. In May, Vercel raised $102 million at a $1.1 billion valuation, according to PitchBook data.

Select Additional Investors:

Accel, Bedrock Capital, Flex Capital, GV, Salesforce Ventures, Tiger Global

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View 4 competitors »

Luma Health raises $130M

Luma Health has raised a $130 million Series C led by FTV Capital. Based in the San Francisco area, the company is the developer of a patient engagement platform for healthcare providers.

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View 30 competitors »

Peek.com books $80M Series C

Peek.com has raised $80 million in a round led by WesCap, with support from Goldman Sachs Asset Management and Laurence Tosi. The company offers a travel booking platform to help hotels and restaurants manage reservations.

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View 22 competitors »

Bitrise collects $60M

Bitrise has raised a $60 million Series C led by Insight Partners, with support from Partech, Open Ocean, Zobito, Fiedler Capital, Y Combinator and H14. Based in Budapest, Hungary, the company is the developer of a DevOps platform intended to help companies such as Tonal and Compass manage mobile engineering stacks.

View round

View 20 competitors »

Exits & IPOs

Manscaped to go public via SPAC

Venture-backed men's grooming company Manscaped plans to complete a reverse merger to go public through a SPAC, Bright Lights Acquisition Corp. San Diego-based Manscaped is expected to receive about $305 million in proceeds from the deal and achieve a valuation of around $1 billion. The company has received past funding from investors including Social Leverage, Rx3 Growth Partners, Kaktus Capital.

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Fundraising

Seaya Ventures, Cathay Innovation hold first close of $125M Latin American fund

Venture firms Seaya Ventures and Cathay Innovation have completed the first close of a $125 million multi-sector fund for startups across Latin America. Based out of Mexico City, the Seaya Cathay Latam Fund will help startups in fintech, proptech, healthtech and other industries achieve sustainable growth through Series A and B investments.

View details

View investment »