Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>Over the last several years, there has been an explosion of retail, travel, SaaS, and other companies expanding into financial services.</li><li>Walmart, IKEA, ServiceTitan and Toast are just 4 of the companies that have launched products like underwriting, interest-free credit, payments and bank accounts in an effort to provide a better experience to their customers and get closer to their wallets.</li><li>As banking platforms around the world have opened up their APIs and banking itself has gone looking for new distribution channels, a new generation of “BaaS” companies has risen to take the premise of Marqeta one step further—offering not just cards but lending, crypto, deposits, and other banking products as a service.</li></ul>

Over the last several years, there has been an explosion of retail, travel, SaaS, and other companies expanding into financial services.Walmart, IKEA, ServiceTitan and Toast are just 4 of the companies that have launched products like underwriting, interest-free credit, payments and bank accounts in an effort to provide a better experience to their customers and get closer to their wallets.As banking platforms around the world have opened up their APIs and banking itself has gone looking for new distribution channels, a new generation of “BaaS” companies has risen to take the premise of Marqeta one step further—offering not just cards but lending, crypto, deposits, and other banking products as a service.

Banking-as-a-Service: The $1T Market To Build The Twilio Of Embedded Finance

<ul><li>Our view of the space is it's pretty nascent.</li><li>And that does give us the optionality later on if we want to enact option two, which is scale across multiple banks, or option three, which is architect the full stack and reverse out to a charter.</li><li>So when you talk about time to market, you also have to think about how progressive or conservative your program looks to a bank.</li></ul>

Our view of the space is it's pretty nascent.And that does give us the optionality later on if we want to enact option two, which is scale across multiple banks, or option three, which is architect the full stack and reverse out to a charter.So when you talk about time to market, you also have to think about how progressive or conservative your program looks to a bank.

Aaron Huang, Head Of Commercial At Productfy, On Choosing The Right Fintech Customers

<ul><li>BaaS players have the next 12 – 24 months to build a default platform for anyone who wants to issue cards.</li><li>The gap in the market currently is that no issuer processor or BaaS platform is fast to market, easy on pricing and scalable.</li><li>It’s likely BaaS sector would sustain high double-digit growth for at least the next 5 years, driven by a mix shift from cash to card, market share gain and TAM expansion from embedded finance.</li></ul>

BaaS players have the next 12 – 24 months to build a default platform for anyone who wants to issue cards.The gap in the market currently is that no issuer processor or BaaS platform is fast to market, easy on pricing and scalable.It’s likely BaaS sector would sustain high double-digit growth for at least the next 5 years, driven by a mix shift from cash to card, market share gain and TAM expansion from embedded finance.

Banking-as-a-Service: Monetization, Competition, And Growth In The Fintech Fastlane

<ul><li>From a speed-to-market perspective, it's definitely the case with i2c, and I know with Galileo, if they just focus on getting a program up and running, they can move very quickly.</li><li>Guest: It depends on how the FinTech wants to approach it. The FinTech can go to a full-on BaaS provider where they provide everything.</li><li>Guest: It's got a lot of potential for scalability, especially because they can aggregate banks, right?</li></ul>

From a speed-to-market perspective, it's definitely the case with i2c, and I know with Galileo, if they just focus on getting a program up and running, they can move very quickly.Guest: It depends on how the FinTech wants to approach it. The FinTech can go to a full-on BaaS provider where they provide everything.Guest: It's got a lot of potential for scalability, especially because they can aggregate banks, right?

Former Galileo Executive On Differentiation And Scalability In The BaaS Market

<ul><li>Ramp is one of the fastest-growing fintech companies built on BaaS, with virtual cards powering their corporate card GTM on the front-end and their automatic expense categorization on the back-end.</li><li>Fast forward to today, a lot of what I would call modern issuers, like Marqeta, Stripe and Galileo, have made that process a lot easier.</li><li>In the case of Ramp, because we&#39;re servicing businesses, we don&#39;t think there&#39;s a lot of change on the horizon with interchange.</li></ul>

Ramp is one of the fastest-growing fintech companies built on BaaS, with virtual cards powering their corporate card GTM on the front-end and their automatic expense categorization on the back-end.Fast forward to today, a lot of what I would call modern issuers, like Marqeta, Stripe and Galileo, have made that process a lot easier.In the case of Ramp, because we&#39;re servicing businesses, we don&#39;t think there&#39;s a lot of change on the horizon with interchange.

Karim Atiyeh, co-founder And CTO Of Ramp, On The Future Of The Card Issuing Market

United States

Galileo Financial Technologies, Inc. operates as a payments technology company. The Company offers an APIs and payments platform to create sophisticated card-based and digital financial solutions. Galileo Financial Technologies serves customers worldwide.

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Galileo (1760304D US)

Banking-as-a-Service: The $1T Market To Build The Twilio Of Embedded Finance

The $1T market for banking-as-a-service is a bet on the rise of embedded finance, the technology-driven movement of financial products and services...

Sacra

Aaron Huang, Head Of Commercial At Productfy, On Choosing The Right Fintech Customers

Our expert interview with Productfy Head of Commercial Aaron Huang on the complex balancing act between BaaS companies and their fintech customers.

Sacra

Banking-as-a-Service: Monetization, Competition, And Growth In The Fintech Fastlane

We distill 100+ pages of expert interviews on banking-as-a-service into top takeaways and key questions.

Sacra

Former Galileo Executive On Differentiation And Scalability In The BaaS Market

Our expert interivew with a former executive at Galileo on the card issuing and BaaS markets and their potential for differentiation and scale.

Sacra

Karim Atiyeh, co-founder And CTO Of Ramp, On The Future Of The Card Issuing Market

Our expert interview with co-founder and CTO of Ramp, Karim Atiyeh, on how Ramp thinks about choosing card issuing partners for the future.

Sacra

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