FinTech Valuation Multiples
Explore private market FinTech valuation multiples with benchmarks structured by stage and region. Updated quarterly.
FinTech
Financial Technology companies build software and infrastructure that digitises financial services — spanning payments, lending, personal finance, insurance, and capital markets. Private market FinTech valuations reflect revenue growth, payment volume, regulatory moat, and the ability to embed financial products into non-financial workflows at scale.
The category spans neobanks, payment processors, lending platforms, wealthtech, and embedded finance infrastructure. DealMatrix tracks valuation dynamics across 7 funding stages and all major global regions, updated every quarter.
Sector
FinTech
Finance & FinTech
Sector tracked since
2000
25+ years of data
EV/SALES & EV/EBITDA ACROSS
6 Regions, 7 Stages
Modelled independently via proprietary econometric approach
UPDATE FREQUENCY
Quarterly
Data updates & model improvement
FinTech Valuation Multiples by Stage
As of 30 September 2025, calculated as on the DealMatrix platform
EV/EBITDA is shown from Series C onwards.
How we derive these multiples
DealMatrix multiples are derived from institutional-grade public-market index data covering ~150 GICS sub-industries across 6 regions, with quarterly history back to 2000, and adjusted for region and funding stage in a six-step model that follows the IPEV Guidelines 2025. Published benchmarks are one year old and illustrative; because IPEV 2025 prohibits static multiples for reporting periods from 1 April 2026, current quarterly data for valuation work is available on the platform.
Your region, your industry blend, the current quarter
These figures are as of 30 September 2025, one year behind the platform. On the platform you combine up to four industries and get the current quarter.
The Venionaire DealMatrix Multiples Model
DealMatrix multiples are proprietary private-market benchmarks, derived through a six-step model that translates public capital-market index comparables into private-market segments and funding stages, adjusted for macroeconomic conditions.
The model produces three components: The reported public multiple, the model-predicted multiple, and the lower bound predicted multiple averaged into the DealMatrix Composite, then adjusted for region and funding stage. The methodology follows the IPEV Guidelines 2025.
ID Finance arranges €545m in debt and equity for credit platform Plazo
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Valuation
Region
Stage
Spiko Series B: Spiko Raises $90M Series B Led by NEA to Make Yield Universal
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Valuation
Primer Series C: Primer raises $100m Series C to scale AI payments platform
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Valuation
9fin Series C: 9fin raises $170M at $1.3B valuation to scale AI platform for debt markets
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Valuation
German startup Upvest secures $125M for strategic expansion in Europe
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Valuation
Financial services platform Zilch raises US$176.7m in funding
raised
Valuation
Region
Stage
Similar industries to explore
Valuation benchmarks differ across industries as business models, growth rates and margins vary. Explore the sectors most related to FinTech to see how their EV/Sales and EV/EBITDA multiples compare.
FinTech Valuation Multiples — FAQ
What is the average valuation multiple for FinTech companies?
As of 30 September 2025, across all regions, venture-backed FinTech companies were valued at about 4.3× to 16.3× EV/Sales, depending on the funding stage: 16.3× at Series A, 7.6× at Series C and 4.3× at Series E. EV/EBITDA was about 28.7× at Series C and 16.3× at Series E. Region-specific and current-quarter figures are available in DealMatrix.
How does the funding stage change FinTech multiples?
Multiples rise from Pre-Seed to a peak at Series A (16.3× EV/Sales for FinTech): growth is still very high while the risk investors price in has fallen. From Series B on, growth slows faster than risk falls, and multiples come down towards the level of listed companies by Series D and E. EV/EBITDA is shown from Series C onwards.
What is the difference between EV/Sales and EV/EBITDA for FinTech?
EV/Sales (enterprise value ÷ revenue) is used for high-growth FinTech companies that are not yet profitable, while EV/EBITDA (enterprise value ÷ operating profit) applies to mature, profitable ones. Early-stage companies are usually benchmarked on EV/Sales.
How are FinTech valuation multiples calculated?
Each FinTech multiple is a weighted blend of public-market index comparables, cleaned for outliers and gaps, then adjusted for macroeconomic conditions, region, and funding stage through a six-step model that follows the IPEV Guidelines 2025.
Do FinTech valuation multiples vary by region?
Yes. North America serves as the reference market and typically carries the highest multiples, while emerging markets trade at a structural discount. Region-specific figures are available in the DealMatrix platform.
How current is this FinTech data and how often is it updated?
The benchmark shown is an illustrative annual figure as of 30 September 2025. The underlying model is updated every quarter. Because the IPEV Guidelines 2025 prohibit static multiples for reporting periods from 1 April 2026, current quarterly data for valuations is available in the DealMatrix platform.