Fintech – Year’s Favourites 2022

How we chose our Year’s Favorites

For 2021, we favored both challengers and technology enablers, expecting the change in money-related behavior induced by Covid-19 to remain a hot topic for personal finance and alternative payment methods with a form of credit.

  • We decided to favor a leading buy now pay later company, a one-stop-shop of personal finance, and an accounting software developer helping SMBs digitize.
  • Our three year’s favorites were thus Afterpay, SoFi, and Xero.

What did not work

Despite strong fundamentals and good results, our picks suffered from the derating of those stocks that benefited from the Covid-19 tailwinds. Moreover, the risks we highlighted concerning SaaS solutions and valuations materialized.

  • Contribution to the Year’s Favorites performance: SoFi -1.76%, Afterpay -1.20%.

What worked

Buy now pay later (BNPL) kept gaining market share over other payment methods. As BNPL’s perception is evolving from unconventional to standard payment feature, M&A activity and partnerships in the sector increased. Block acquired Afterpay, in an all-stock deal. Still, the stock suffered the meltdown of the payment industry.

  • Contribution to the Year’s Favorites performance: Xero +0.77%.

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