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

Chime Financial / Private Capital Markets

<ul><li>As the revenues grew so much, I think you got these crazy valuations.</li><li>In the Chime world, there would be times where we would basically have to prioritize which thing to put in front of the bank first because there just weren’t enough resources to get them all done in time.</li><li>Chime is probably in a better position than most companies to handle a recession because they have a lot of cash flow and a lot of investor money and they haven&#39;t blown it all.</li></ul>

As the revenues grew so much, I think you got these crazy valuations.In the Chime world, there would be times where we would basically have to prioritize which thing to put in front of the bank first because there just weren’t enough resources to get them all done in time.Chime is probably in a better position than most companies to handle a recession because they have a lot of cash flow and a lot of investor money and they haven&#39;t blown it all.

Ex-Chime Employee On Chime's multi-product Future

<ul><li>We recently announced our Integration Partner Program at Lithic, where we work with the best fintech infrastructure providers out there to build joint solutions for our customers.</li><li>It’s still the first innings for embedded financial services. It&#39;s going to be a multi-trillion dollar opportunity over the next few decades, and if each player gets even a little bit of share, that&#39;s more than enough room to build giant businesses.</li><li>Having grown out of Privacy.com and actually dogfooding our own card issuing infrastructure, Lithic has benefited immensely.</li></ul>

We recently announced our Integration Partner Program at Lithic, where we work with the best fintech infrastructure providers out there to build joint solutions for our customers.It’s still the first innings for embedded financial services. It&#39;s going to be a multi-trillion dollar opportunity over the next few decades, and if each player gets even a little bit of share, that&#39;s more than enough room to build giant businesses.Having grown out of Privacy.com and actually dogfooding our own card issuing infrastructure, Lithic has benefited immensely.

Nikil Konduru, GTM Strategy At Lithic, On The Future Of Card Issuing

<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>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>Today, BaaS companies are growing extremely fast.</li><li>Transaction volumes across fintech, and by extension BaaS revenues, are still in their early growth stages, with card adoption today representing just 2% of global business payments.</li><li>As transaction volume goes up, the fintechs at the top of the finance stack see their portion of interchange expand, while banks at the bottom are compressed.</li></ul>

Today, BaaS companies are growing extremely fast.Transaction volumes across fintech, and by extension BaaS revenues, are still in their early growth stages, with card adoption today representing just 2% of global business payments.As transaction volume goes up, the fintechs at the top of the finance stack see their portion of interchange expand, while banks at the bottom are compressed.

Fintech Fastlane: The Unit Economics Of The Banking-as-a-Service Toll Road

United States

Klarna is a Swedish fintech company that provides online financial services. The company provides payment processing services for the e-commerce industry.

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Klarna Group (KLAR US)

Ex-Chime Employee On Chime's multi-product Future

Sacra interview with an ex-Chime employee.

Sacra

Nikil Konduru, GTM Strategy At Lithic, On The Future Of Card Issuing

Sacra's interview with Lithic's GTM Strategy Nikil Konduru on modern issuer processors, banking-as-a-service, and embedded finance.

Sacra

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

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

Fintech Fastlane: The Unit Economics Of The Banking-as-a-Service Toll Road

We analyze the two business models in BaaS, the all-in-one platform and the point solution, to break down how they make money and where they have...

Sacra

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