Everyone knows that fintech is growing, and growing fast.
Investors are responding to the millennial generation as tech savvy 20 something’s look for innovative solutions to manage their money.
The Millennial Disruption Index, a website designed to predict which industries will be transformed by the Millennial generation, predicts that banking is at the highest risk of disruption out of the considered industries which include: personal computing, mobile and household goods.
A withering 71% of their surveyed consumers saying that they’d rather go to the dentist than listen to what the banks are saying, so the environment is ripe for change.
With that in mind, here’s the 5 top fintech exits of Q1 in 2015, which features a number of potentially disruptive banking models.
CB Insights has said that more than $1 billion has been sunk into tech-driven personal finance companies over the last 3 years, and that number is only set to increase with companies such as LearnVest being acquired for $250 million to place it as one of the top fintech exits.
LearnVest was launched in 2009 as a financial planning service for women, and it has since raised $75 million in venture capital as a platform that now links both men and women to tailored financial advisors through a series of customizable steps.
These types of innovative solutions are perfect for a generation of people who inherently distrust bankers.
The other fintech firm to break into the $100 million exit club is Realex Payments, which was acquired for 126m by Global Payments. Global Payments is looking to expand its international ecommerce options.
Realex Payments, based in Dublin, was founded in 2000 by Colm Lyon, and provides international payment services as well as ecommerce assistance. Global Payments has acquired one of Europe’s fastest growing online payment gateways for their rather hefty investment.
Rounding off the list of the top fintech exits are Premier Commercial bank that was acquired by NewBridge Bancorp, 3V transaction services that provides online vouchers for visa users, and ActivateClients that build tech apps to improve financial services within companies.