The COVID-19 Diaries – Day 8 – When the Fintech community came together to fight
If you ask a person who grew up in the ‘80s or ‘90s watching the Jordan led Bulls raking up Championships on top of Championships, who is the best ball player of all time, the answer will be evident. Jordan retired in 2003, the same year LeBron James was drafted to the NBA as a high-school teenager. After 17 seasons, 4 MVPs and 3 Championships, today there is a debate who is a better or a more complete player. Some may forget that Jordan and James played in different systems, team structures and positions. If they had ever played on the same team, most probably their skills and style of play had complemented each other.
Core question is how will fintech valuations be impacted by the economic turmoil prompted by the virus?
• Funding wise, fintechs — and the VCs driving them — may have to radically adjust their expectations for raising fresh funds and for expansion
• Regarding the exit strategy, weaker exit prospects are an additional factor for significantly lower valuations, which can even materialize given an expected longer term for economic recovery
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The views, information, or opinions expressed in this blog series are solely those of the individuals involved and do not necessarily represent those of PwC Austria and its employees. PwC Austria does not give any representation or warranty of any kind (whether expressed or implied) as to the accuracy or completeness of the information contained in this blog series. It has been prepared solely for general informational purposes. Nothing in this document should be construed as advice to proceed or not to proceed with transactions or any other type of decisions.