How $12 Billion in Fintech SPAC capital is teaching us about the economics of target unicorns

Look at the Targets, not the Money

It is sort of interesting to list out the SPAC vehicles raising money — Figure Acquisition I, EJF Acquisition, FinTech Evolution Acquisition, Evo Acquisition, and so on, at $200 million or so each. We give a hat tip to Nik Milanovic’s This Week in Fintech newsletter for tracking the fund raises with diligence and detail.

Not All That Glitters

All this takes us to MoneyLion.

Key Takeaway

The point of Fintech was supposed to be to break the bad habits of the financial industry. No overdraft fees. No exorbitant credit. No excessive commissions. No payday lending.



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Lex Sokolin

Lex Sokolin


Entrepreneur building next-gen financial services @Consensys @Autonofintech @Advisorengine, JD/MBA @columbia_biz, editor and artist @inkbrick