KPMG's head of fintech sees 'green shoots' on the horizon for deals after drought
The latest numbers don't look great, but according to KPMG M&A partner Daniel Teper there's still life in fintech yet.
Daniel Teper is Partner, Mergers & Acquisitions and Head of FinTech (Australia) for KPMG Australia and a co-author of KPMG’s Pulse of Fintech report.
KPMG’s Global Pulse for fintechs was just released but overall, what does the landscape look like for fintech in Australia?
What we saw at the back end of FY22, from about March, April in 2022, even today, is there's been a shift in appetite for, not just fintech, all kinds of high growth, venture style assets. That's a combination of factors.
Firstly, risk profiles have changed. We've obviously seen interest rates go up, inflation’s up. Equity markets have moved around a little bit. So a lot of people are probably saying the outlook isn't necessarily bad or good, but it's probably a bit more uncertain. And I can put my cash in a bank account at 4% or 5%. Suddenly the opportunity cost of putting money into these types of assets has increased, plus you're operating in tough economic conditions. So there’s a shift into safer assets.
