TY - JOUR
T1 - Angel investors, seed-stage investors and founders influence on FinTech funding
T2 - an emerging market context
AU - Herck Giaquinto, Luísa
AU - Bortoluzzo, Adriana Bruscato
PY - 2020/9
Y1 - 2020/9
N2 - This study examines the difference between the FinTechs that received private equity and venture capital funds and those that did not. We test this with a sample of 2,524 companies across 76 countries over 2008–2018. We show a positive relationship between having received an angel and a seed round with follow-on financing, and a negative relationship with having a single founder. The impact of the seed financing and the single founder is weaker in an emerging market. Furthermore, companies in financing and payments categories are more likely to receive funding.
AB - This study examines the difference between the FinTechs that received private equity and venture capital funds and those that did not. We test this with a sample of 2,524 companies across 76 countries over 2008–2018. We show a positive relationship between having received an angel and a seed round with follow-on financing, and a negative relationship with having a single founder. The impact of the seed financing and the single founder is weaker in an emerging market. Furthermore, companies in financing and payments categories are more likely to receive funding.
KW - CrunchBase
KW - early-stage finance
KW - FinTech
KW - start-up funding
UR - http://www.scopus.com/inward/record.url?scp=85081715663&partnerID=8YFLogxK
U2 - 10.1080/17520843.2020.1737169
DO - 10.1080/17520843.2020.1737169
M3 - Article
AN - SCOPUS:85081715663
SN - 1752-0843
VL - 13
SP - 276
EP - 294
JO - Macroeconomics and Finance in Emerging Market Economies
JF - Macroeconomics and Finance in Emerging Market Economies
IS - 3
ER -