In the first half of 2021, 21 fintech SPAC mergers were announced—in just six months surpassing the record-breaking number of SPAC announcements made during the entirety of 2020,Business Insider reports.
This trend shows no sign of slowing down: Over 400 SPACs still need to execute a deal, with fintechs likely to remain a popular target for such mergers—suggesting that the next few years on the fintech SPAC front will stay very, very busy. In fact, SPACs could drive almost $1 trillion in deals in the next two years, Goldman Sachs forecast in April.
What does this mean for the industry? Although SPACs remain an attractive way for fintechs to go public, competition could make investors more cautious. Read more.