BUYER POOL ANALYSIS
Selling a Fintech to Strategic / Industry buyers
Industry operators, larger competitors, and corporate buyers acquiring for synergies, geographic expansion, or capability fill. Typically pays a premium for clear strategic fit but discounts for integration cost and overlap.
Quick answers
- What multiple does this buyer pool pay?
- Median EV/EBITDA 8.78x across 5 disclosed deals (P25: 7.22x, P75: 20.45x). Median EV/Revenue 2.11x across 9 deals. Median deal value: $174.19M.
- How many disclosed transactions?
- 10 deals total (10 from 2018+), filtered to Strategic / Industry acquirers of fintech businesses.
- Most active buyers
- The Brink's Company (1) · iQSTEL Inc. (1) · Fidelity National Information Services, Inc. (1) · First Carolina Bank (1) · Shift4 Payments, Inc. (1) · CSG Systems International, Inc. (1)
Recent disclosed deals
Strategic / Industry acquisitions of fintech businesses with named target, named acquirer, and disclosed financials.
| Year | Target | Acquirer | EV | EV/EBITDA | EV/Rev |
|---|---|---|---|---|---|
| 2026 | NCR Atleos Corporation | The Brink's Company | $6552.8M | 7.2x | 1.52x |
| 2025 | GlobeTopper LLC | iQSTEL Inc. | $0.6M | 7.2x | 0.03x |
| 2025 | Total System Services LLC | Fidelity National Information Services, Inc. | $13500.0M | 12.3x | 5.40x |
| 2024 | BM Technologies, Inc. | First Carolina Bank | $58.8M | — | 0.99x |
| 2024 | Givex Corp. | Shift4 Payments, Inc. | $133.9M | 28.6x | 2.11x |
| 2024 | iCG Pay | CSG Systems International, Inc. | $32.6M | — | 3.43x |
What this buyer pool prices for
Strategic buyers — operators in adjacent geographies, larger competitors, or corporate consolidators — price for synergies and capability fill. They tend to discount integration cost and overlap risk but pay above market when there's clear strategic fit (key customer relationship, license, geography, technician/professional team). Multiples are competitive with PE for fee-viable deals; below PE for sub-scale acquisitions.
Methodology note
Multiples shown are computed from disclosed M&A transactions in the ExitValue.ai database, filtered to fintech businesses acquired by strategic / industry buyers. EV/EBITDA outliers outside the [0.5x, 60x] band and EV/Revenue outliers outside [0.05x, 25x] are excluded from medians. Where available, post-2018 transactions are weighted; otherwise the all-time sample is used. Deal counts shown reflect deals with disclosed financials only — total transaction count for this buyer pool is typically 2-3x larger. Full methodology
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