Report

FinLab - Adding value to the fintech portfolio

Following the high transaction activity in H218, FinLab has since focused on value creation within its existing fintech portfolio companies. In H119, a positive impact from revaluations offset the c 25% decline in Heliad Equity Partner’s share price in the period and NAV per share remained broadly stable at €20.21 vs €20.44 at end 2018. Significant developments at its largest holdings in H219 include Deposit Solutions becoming a fintech unicorn following the funding round with Deutsche Bank and Kapilendo transitioning to a digital banking partner for medium-sized businesses in September 2019. Notably, Heliad’s share price has increased 30% since end-June 2019, presumably driven by stock catalysts at its largest portfolio holding, flatex.
Underlying
FinLab AG

Finlab AG, formerly Altira AG, is a Germany-based investment company engaged in the building of companies in the financial services technologies (fintech) sector. It focuses on developing German fintech start-ups, as well as provides venture capital in a form of long-term participation and ongoing support of the investment. Additionally, the Company is engaged in venture deals, such as seed- and follow-on rounds for fintech companies in Germany and abroad. It also invests in venture founding rounds, primarily in companies located in the United States and Asia. Its portfolio includes nextmarkets GmbH, a company operating e-learning platform for global investors.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Pedro Fonseca

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