FT Partners Research is pleased to announce the release of their new in-depth industry research report, “Innovations in Payroll and Human Capital Management.”
As noted in the update shared by FT Partners with CI, the global payroll industry is currently in the process of “undergoing a seismic shift, driven by the rise of distributed work, an increasing number of self-employed and freelance workers, and technological innovations that have made domestic and global payroll more efficient, flexible, and compliant.”
In recent years, FinTech companies have “launched new payroll and adjacent innovations including cloud-based, multi-country payroll systems, global employer of record solutions, earned wage access, payroll data platforms, payroll lending services, and more.”
FinTech innovators are clearly “waking up to the strategic value of payroll processing, as the path to providing many workforce solutions leads through payroll.”
This latest update from FT Partners offers an overview of “the payroll processing space, the complexities that arise in processing payroll, and key innovations in the domestic and global payroll markets.” It also provides a detailed landscape of FinTech providers “focused on the industry.” And a proprietary list of financing and M&A transactions.
To view the complete report, check here.
As reported in April 2023, FT Partners Research publishes their Q1 2023 FinTech Insights report, providing a comprehensive review of global Fintech deal activity “with analysis across private company financings, IPOs, and M&A transactions.”
While still feeling the prolonged impact from high inflation and rising interest rates, turbulence in the banking industry “added another wrinkle to the FinTech deal activity environment in Q1 2023.”
As noted in the report by FT Partners, the social-media-fed bank runs and subsequent collapse of Silicon Valley Bank and Signature Bank “caused volatility throughout the banking industry in March and undoubtedly disrupted the tech and startup ecosystems that these banks served.”
While the overall banking environment appeared to stabilize relatively quickly, “the longer-term impact of the demise of these two banks is less clear.”
Despite the turmoil and ongoing challenges in the market, Q1 2023 private FinTech company financing volume “rose 53% sequentially to $17.7 billion, up from $11.6 billion in Q4 2022, and broke a string of three consecutive quarters of declines.”
To be fair, Stripe‘s $6.5 billion Series I round – the second largest FinTech funding round ever – “accounted for more than one third of the total financing volume in the quarter.”
As mentioned in the update shared by FT Partners, “very few US-based consumer FinTech brands raised money in Q1, with the majority of capital going to B2B and FinTech infrastructure or back-office-focused businesses across a variety of FinTech sectors, while outside of North America, some large direct-to-consumer companies announced significant capital raises.”