Angel, seed and founders influence on fintech funding: an emerging market context
This study examines the difference between FinTechs that received private equity and venture capital finance with those that did not receive. We test this with a sample of 2,524 companies across 76 countries over 2008-2018. We find that country-specific determinants of start-up funding are also rele...
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| Format: | masterThesis |
| Language: | eng |
| Published: |
2019
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| Online Access: | http://hdl.handle.net/10362/70654 |
| Country: | Portugal |
| Oai: | oai:run.unl.pt:10362/70654 |
| Summary: | This study examines the difference between FinTechs that received private equity and venture capital finance with those that did not receive. We test this with a sample of 2,524 companies across 76 countries over 2008-2018. We find that country-specific determinants of start-up funding are also relevant to FinTechs. Furthermore, companies in financing and payments categories are more likely to receive funding. We show a positive relationship between having received an angel and a seed round with follow-on finance, and a negative relationship with having a single founder. The impact of the seed finance and the single founder is weaker in an emerging market. |
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