Company Financials

Fintech: Why Capital One Chose Brex in a $5B Deal

Behind the largest fintech-bank deal in history

Feb 10 • Michiel Milanovic

Report: Is Fintech or DeFi a better financial system?

Does crypto or fintech win? We compare Revenue, Volume, Users, and Take Rates of Fintech and Onchain Protocols

Jan 30 • Lex Sokolin, Mario Stefanidis, and Jon Ma

Analysis: Schwab buys private shares broker Forge for $660MM, down from $2B SPAC price

SPVs Multiply as Pre-IPO Valuations Race Beyond $100B

Nov 27, 2025 • Lex Sokolin

Fintech: Figure's $8B IPO rewiring HELOCs and prime brokerage

From HELOCs to the $2T consumer lending market

Sep 16, 2025 • Michiel Milanovic

Analysis: The Economics of a Digital Asset Treasury

Is there a difference between DATs, ETFs, SPACs, and the underlying assets?

Sep 11, 2025 • Lex Sokolin

Analysis: Hyperliquid prints $550MM revenue and $40B valuation with no VCs

With $300B in monthly volume, this small team may have created the next Binance onchain.

Jun 20, 2025 • Lex Sokolin

Fintech: Chime IPO Primer - Can it hit $15B?

Winning the primary bank customer is not enough

May 27, 2025 • Michiel Milanovic

Fintech: Can Revolut beat Robinhood in the US and Nubank in LATAM?

The trade-off between product expansion and overseas growth

Apr 29, 2025 • Michiel Milanovic

Analysis: Our eToro IPO Primer, a global neobroker with $300MM in profit

With $300M in EBITDA, eToro’s IPO may rival Webull, Robinhood, and Coinbase.

Apr 17, 2025 • Lex Sokolin

Analysis: Our Circle IPO Primer, $1.6B revenue reaching for $10B valuation

Interest rates all the way down

Apr 3, 2025 • Lex Sokolin

Fintech: Klarna IPO Primer; will it reach $30B?

Benchmarking the category-defining Swedish BNPL against Affirm

Apr 1, 2025 • Michiel Milanovic

AI: Is CoreWeave’s $35B IPO an AI Hyperscaler or a GPU Debt Trap?

CoreWeave is set to be the most anticipated tech IPO of the last few years as investors prepare for the first pure play AI IPO opportunity available to…

Mar 18, 2025 • Luke Spill

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