Intuit Ventures

Sometimes, a set of panelists just “click”. So you can imagine my excitement that we made the magic happen this year at Money2020 by bringing together Leonard Speiser, Prajit Nanu, and Shveta Mujumdar to talk about one of my favorite topics– the exit landscape in fintech. The past few years have been challenging, to say the least. I recently heard a stat from Axios that IPOs broadly are down 70% from just a few years ago. M&A levels in fintech are largely back to pre-pandemic levels, but driven in large part by legacy acquisitions. The M&A market for VC-backed deals remains depressed – despite some of the large announcements last week. The reasons according to our panelists? A continued divergence in the bid-ask spreads between buyers and sellers, still a holdover from the inflated valuations from a few years ago. The need for an alignment of values between acquirers and founders. And, on the IPO front, continued issues with the performance of public companies (especially fintech companies) has made the bar to go public much higher, and continued private capital can delay the decision. What are founders doing? Staying focused on building great companies, and in some cases attempting to grow into their valuations. Keeping options open. In many cases building long term relationships with acquirers as founders and prospective acquirers explore that value alignment. When a company does get acquired, it pays to be open about what all sides want- that is what Leonard did with Clover, and it led to a non-standard but successful integration that took place over a number of years. It’s also important to make sure that the larger organization doesn’t “smother” the smaller one. And it will be important for founders to be aware of these things– according to Shveta there is going to be a lot more M&A activity before the IPO market opens again. Happy building, buying, and selling!

?? Thank you so much Intuit Ventures - we are grateful for your support and excited to have you in our corner, especially Selina Troesch Munster and Tanvi Lal!

I'm thrilled to announce Finch's partnership with PensionPro, a leading retirement plan administration platform. Together, we're transforming the administrator-sponsor relationship by simplifying data access and streamlining plan administration for over 200,000 plans. TPAs and recordkeepers face significant challenges accessing timely and accurate sponsor data. Manual processes and outdated technologies like SFTP are inefficient and prone to errors. Our partnership with PensionPro changes that. By leveraging Finch's Unified Employment API, TPAs can now: ?Seamlessly access payroll and census data through Finch Connect. ?Eliminate manual data entry and ensure data accuracy. ?Streamline plan administration and reduce administrative burden. With simplified onboarding and automated data sharing, sponsors can focus on their core business while enjoying a more efficient and streamlined retirement plan administration process. Read more about this partnership here? https://lnkd.in/gqxr4MmF

I'm excited to announce Intuit Ventures investment in Wildfire Systems, Inc's Series B! We co-led with Mucker Capital and join an amazing syndicate supporting the company. Wildfire creates value for its partners, customers, and merchants. Partners are able to provide a value-add loyalty program for their customers while creating a revenue stream and staying top of mind even when customers are not directly engaging with their product. Customers are able to get cashback amidst a period of high prices and inflation in the flow of their everyday shopping experience. Merchants are able to reach more consumers and further incentivize purchases of their products. I am very much looking forward to working with Jordan Glazier and team as they power innovative loyalty and rewards programs! ?? Anton Hanebrink Shveta Mujumdar Tanvi Lal Michael Vuong

??Today, we are announcing Intuit Ventures’ investment in?Wildfire Systems, Inc, a financial technology platform that powers loyalty and reward programs, shopping companions, and content monetization. We’re excited to co-lead the company’s?Series B round?with Mucker Capital alongside Samsung Next, TTV Capital, QED Investors, B Capital and others. We're thrilled to be working with Jordan Glazier and the whole team as they provide meaningful benefits to consumers as they shop online while simultaneously empowering brands to deliver delightful experiences to their customers. ?? Learn more in our blog: https://lnkd.in/g3J2F_gq Check out the full press release here: https://lnkd.in/dmuxGcq3

We're excited to announce the close of?Infinity Ventures $184M Fund II to continue our pursuit of investing in early stage fintech infrastructure and commerce enablement companies. We wanted to thank all our LPs, portfolio companies, ecosystem partners, and friends of the firm for helping us achieve this milestone.?We're excited to continue executing on our 'operators-first, investors-second’ approach with the best founders and companies in fintech and commerce. Cc: Jeremy Jonker Jay Ganatra Mario Ruiz Samantha Klingelhofer Levi King Robert May Leah Adair https://lnkd.in/gyWbXeP6

?? Excited to co-host the 2nd annual Women in Tech M&A and Investing event on October 23rd! ?? Collaboration is key in tech investing, and women's networks are invaluable for shaping the future of the field. Join us for an evening of in-person connection, insights, and partnership-building. ?? Interested in joining but didn't receive an invite? DM me! RSVPs close October 10th. #WomenInTech #Investing

Intuit Ventures is excited to co-host a fintech meetup during #LATechWeek alongside our friends at Clocktower Ventures! Come on by to grab a coffee, smoothie, and pastries as we discuss the future of fintech with founders, investors, and operators alike. Our team is excited to meet you all there ?? ?? Thursday, October 17th ?? 9:30 - 11:30 AM PT ?? Santa Monica ?? RSVP here: https://lu.ma/0ihyc3vw

I'm proud to announce that ZayZoon has teamed up with Scotiabank to revolutionize payroll in Canada with Earned Wage Access (EWA)! This is a significant milestone not just for ZayZoon, but for Canadian businesses and employees everywhere. Our mission? To save 1 million Canadians 1 billion dollars—and this partnership is a giant leap toward that goal. Financial stress impacts 42% of Canadian workers every single day, and we're doing something about it. With EWA, Scotiabank business clients can offer their teams more control over their pay, reducing turnover, stress, and absenteeism. It's a win for everyone: employees, employers, and the bottom line. This partnership is proof that the future of payroll is now, and I couldn't be more thrilled to see how it will positively impact lives across Canada.

Big news, folks! ZayZoon is at Finovate with something HUGE: we're on track to help 10 million employees save $10 billion ?? Our Embedded EWA platform is transforming payroll, giving employees instant access to their earnings right inside the systems they already use. No hassle, just ?? magic ??. ?? Businesses offering Embedded EWA are seeing: ?? 25% drop in absenteeism ?? 30% reduction in turnover ?? 81% boost in talent confidence And payroll providers? They're unlocking new revenue streams with ZERO extra work. Cha-ching! ?? Wanna see it in action? Tomorrow at #Finovate Darcy Tuer and Tate Hackert will show off our platform in a 7-minute demo! You won't want to miss it ?? The future of payroll is here, and it's looking pretty epic. ?? https://lnkd.in/gSDTSaPQ #FinovateFall2024 #EarnedWageAccess #HRTech #FinancialWellness