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>We looked for emerging market leaders that sold not just to the growing fintechs, but those that could sell to both and could crack the up-and-comers and the legacy incumbents.</li><li>Some of these waves are ongoing, while the B2B payments software wave and a few new ones are percolating, but that&#39;s how I would summarize them quickly.</li><li>Fraud, in financial services, is a big industry and it&#39;s only going to grow.</li></ul>

We looked for emerging market leaders that sold not just to the growing fintechs, but those that could sell to both and could crack the up-and-comers and the legacy incumbents.Some of these waves are ongoing, while the B2B payments software wave and a few new ones are percolating, but that&#39;s how I would summarize them quickly.Fraud, in financial services, is a big industry and it&#39;s only going to grow.

Charles Birnbaum, Partner At Bessemer Venture Partners, On The Five Waves Of Fintech

<ul><li>Historically, startup founders have struggled opening bank accounts and getting credit cards—particularly without giving a personal guarantee.</li><li>In 2018, Brex launched a credit card for startups and hit 1,000 customers in 5 months underwriting cash in the bank, not historical financials, with 10x the credit limit of American Express and no personal guarantee.</li><li>Today, Sacra estimates that Brex is at $400M revenue, growing 67% year-over-year and doing $17.5B in annualized transaction volume, last valued at $12.3B or a 31x multiple to current revenue with 50,000+ customers (~40% of U.S. startups).</li></ul>

Historically, startup founders have struggled opening bank accounts and getting credit cards—particularly without giving a personal guarantee.In 2018, Brex launched a credit card for startups and hit 1,000 customers in 5 months underwriting cash in the bank, not historical financials, with 10x the credit limit of American Express and no personal guarantee.Today, Sacra estimates that Brex is at $400M revenue, growing 67% year-over-year and doing $17.5B in annualized transaction volume, last valued at $12.3B or a 31x multiple to current revenue with 50,000+ customers (~40% of U.S. startups).

<ul><li>We ultimately pivoted the business from being a B2C builder ourselves to becoming an API-based B2B platform that serves other fintech builders around these core infrastructure elements.</li><li>Bad infrastructure can kill a lot of businesses.</li><li>At Rize, we focus on a world where, again, our job is to be the horizontal connective tissue so that your process of getting to market as a neobank is not a 18 to 36 month process, but something that you can do in as little as 6 to 10 weeks.</li></ul>

We ultimately pivoted the business from being a B2C builder ourselves to becoming an API-based B2B platform that serves other fintech builders around these core infrastructure elements.Bad infrastructure can kill a lot of businesses.At Rize, we focus on a world where, again, our job is to be the horizontal connective tissue so that your process of getting to market as a neobank is not a 18 to 36 month process, but something that you can do in as little as 6 to 10 weeks.

Justin Howell, co-founder And CEO Of Rize, On The Horizontal Infrastructure Missing From Fintech Today

<ul><li>We are proposing and have started to see a bunch of banks thinking about having a fintech division or group.</li><li>We&#39;ve already signed seven in the six months we&#39;ve been in the market.</li><li>By getting seven banks up and running, hopefully by March/April timeframe, we&#39;ll be able to do seven to ten -- maybe fifteen -- fintechs a month at launch.</li></ul>

We are proposing and have started to see a bunch of banks thinking about having a fintech division or group.We&#39;ve already signed seven in the six months we&#39;ve been in the market.By getting seven banks up and running, hopefully by March/April timeframe, we&#39;ll be able to do seven to ten -- maybe fifteen -- fintechs a month at launch.

Peter Hazlehurst, co-founder And CEO Of Synctera, On Matchmaking Fintechs And Sponsor Banks

<ul><li>Shamir Karkal is the CEO and co-founder of payments infrastructure as a service business Sila.</li><li>The BBVA Open Platform never really got traction because it never solved the compliance problems for customers.</li><li>If I'm being honest, I expect to see another ten consolidated platforms, at least, launch in the next 18 plus months.</li></ul>

Shamir Karkal is the CEO and co-founder of payments infrastructure as a service business Sila.The BBVA Open Platform never really got traction because it never solved the compliance problems for customers.If I'm being honest, I expect to see another ten consolidated platforms, at least, launch in the next 18 plus months.

Shamir Karkal, co-founder And CEO Of Sila, On The Modern Payments Stack

United States

API-based banking software for fintechs and brands to issue cards and manage accounts

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Unit (UNIT US)

Charles Birnbaum, Partner At Bessemer Venture Partners, On The Five Waves Of Fintech

Sacra interview with Charles Birnbaum, partner at Bessemer Venture Partners.

Sacra

Brex: The $400M/year anti-Amex

Brex and Ramp are the PayPal and X.com of corporate spend—competitive with each other, but more importantly chasing the bigger prize of disrupting...

Sacra

Justin Howell, co-founder And CEO Of Rize, On The Horizontal Infrastructure Missing From Fintech Today

Sacra's interview with Justin Howell, co-founder and CEO of banking-as-a-service platform Rize.

Sacra

Peter Hazlehurst, co-founder And CEO Of Synctera, On Matchmaking Fintechs And Sponsor Banks

Sacra's interview with Peter Hazlehurst, co-founder and CEO of banking-as-a-service platform Synctera.

Sacra

Shamir Karkal, co-founder And CEO Of Sila, On The Modern Payments Stack

Sacra's interview with Shamir Karkal, CEO and co-founder of Sila Money, about the history of payments infrastructure as a service and the trade...

Sacra

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)