Financials & FinTech research, Galliano’s Financials Research

Victor Galliano

Financials & FinTech research

Financials & FinTech, EM & Developed Markets

Galliano’s Financials Research

Galliano's Financials Research provides fundamental research in Emerging Markets financials, including FinTech, as well as financials in select Developed Markets.

The investment style applied is generally value oriented, although Growth At Reasonable Price (GARP) strategies can also be used where appropriate. 

Our investment research approach aim is often contrarian, looking to capitalise on overly sceptical or optimistic consensus views. In terms of valuation techniques, the focus is on PBV ratio to ROE, PE multiples and dividend yield, as well as the application of PEG ratios and, where appropriate, Sum of the Parts (SOTP) valuations.

Private Capital Markets

Revolut Limited / Private Capital Markets

Revolut Limited designs and develops application software. The Company offers money transfers, vaults, budgeting, cryptocurrency, mobile phone, and medical insurance. Revolut serves customers in the United Kingdom.

<ul>
<li>Management is targeting a USD40bn IPO valuation for Revolut; the last funding round in 2021 valued it at USD33bn, but current year investor valuations have ranged from USD19.9bn to USD25.7bn</li>
<li>We provide key fintech and bank ratios for the UK digital banks; Revolut is more an FX paytech with a small loan book; Starling is a more “balanced” digital bank</li>
<li>Relative to its UK unlisted peers and select listed digital peers, Revolut’s target IPO valuation does appear to be rich; it is also still seeking a UK bank licence</li>
</ul>


Management is targeting a USD40bn IPO valuation for Revolut; the last funding round in 2021 valued it at USD33bn, but current year investor valuations have ranged from USD19.9bn to USD25.7bn
We provide key fintech and bank ratios for the UK digital banks; Revolut is more an FX paytech with a small loan book; Starling is a more “balanced” digital bank
Relative to its UK unlisted peers and select listed digital peers, Revolut’s target IPO valuation does appear to be rich; it is also still seeking a UK bank licence


Revolut IPO Prospects – Rich Target Valuation Relative to Digital Bank Peers

Podcast by CEO, Norges Bank Investment Management, In Good Company with Nicolai Tangen

In Good Company with Nicolai Tangen

Podcast by CEO, Norges Bank Investment Management

The CEO of the largest single investor in the world, Norges Bank Investment Management, interviews leaders of some of the largest companies in the world. You will get to know the leader, their strategy, leadership principles, and much more. Hosted on Acast. See https://www.acast.com/privacy-policy for more information.

Anthropic, PBC operates as an AI safety and research company. The Company builds reliable, interpretable, and steerable AI systems. Anthropic serves customers in the United States.

<ul>
<li>Anthropic is releasing a new, highly intelligent and powerful model in the near future</li>
<li>Developments in interpretability of AI models are progressing, allowing for greater understanding of decision-making processes</li>
<li>Progress in understanding AI models is happening rapidly, but keeping pace with the complexity of new models remains a challenge</li>
</ul>
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.


Anthropic is releasing a new, highly intelligent and powerful model in the near future
Developments in interpretability of AI models are progressing, allowing for greater understanding of decision-making processes
Progress in understanding AI models is happening rapidly, but keeping pace with the complexity of new models remains a challenge

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Dario Amodei CEO of Anthropic: Claude, New Models, AI Safety and Economic Impact

Research from e27, e27

Research from e27

e27 is Asia's largest Tech media platform. We cover the latest news on emerging and disruptive businesses across the region.

Zeta Markets provides financial technology solutions. The Company develops a decentralized platform built on blockchain tool that facilitates users with pricing updates, liquidations, and under-collateralized derivatives trading. Zeta Markets serves clients in the United States.

<ul><li>Zeta Markets, a Solana-based decentralised exchange for on-chain perpetuals, has closed a US$5 million strategic funding round led by Electric Capital, with participation from DACM, Selini Capital, and Airtree Ventures.</li><li>Prominent angel investors also joined, including Anatoly Yakovenko of Solana, Mert Mumtaz of Helius, Richard Wu of Tensor, Marius Ciubotariu of Kamino, Stepan Simkin of Squads, Alex Smirnov of Debridge, Genia Mikhalchenko of Pyth, Nom of Bonk, and JMR Luna of Wintermute.</li><li>This deal brings Zeta Markets’s total funding raised to date to US$13.5 million.</li></ul>

Zeta Markets, a Solana-based decentralised exchange for on-chain perpetuals, has closed a US$5 million strategic funding round led by Electric Capital, with participation from DACM, Selini Capital, and Airtree Ventures.Prominent angel investors also joined, including Anatoly Yakovenko of Solana, Mert Mumtaz of Helius, Richard Wu of Tensor, Marius Ciubotariu of Kamino, Stepan Simkin of Squads, Alex Smirnov of Debridge, Genia Mikhalchenko of Pyth, Nom of Bonk, and JMR Luna of Wintermute.This deal brings Zeta Markets’s total funding raised to date to US$13.5 million.

Solana-based decentralised exchange Zeta Markets scores US$5M funding | e27

Thrixen Diagnostics / Private Capital Markets

Thrixen was founded by international scientists from multidisciplinary areas from Singapore and USA in 2021. T

<ul><li>Singapore-based startup Thrixen, which develops a diagnostics platform for infectious diseases, has secured funding, its co-founder and CEO Shavit Clein announced in a LinkedIn<a href="https://www.linkedin.com/feed/update/urn:li:activity:7190624185373622272/" target="_blank" data-ct="28d267dcb24ef7f811746e60d0786819" rel="noopener">post</a>.</li><li>The investors are 22Health Ventures, an early-stage healthtech investment firm and biotech company Aldevron’s co-founder John Ballantyne.</li><li>The development was first <a href="https://www.businesstimes.com.sg/startups-tech/startups/health-tech-startup-thrixen-bags-us-7-million-22health-ventures-aldevron-co-founder" target="_blank" data-ct="97187674be2ef339a210336513ba0ffd" rel="noopener">reported</a> by The Business Times, which pegged the funding amount at US$7 million. The capital will be used to advance the development of its diagnostic technology platform.</li></ul>

Singapore-based startup Thrixen, which develops a diagnostics platform for infectious diseases, has secured funding, its co-founder and CEO Shavit Clein announced in a LinkedInpost.The investors are 22Health Ventures, an early-stage healthtech investment firm and biotech company Aldevron’s co-founder John Ballantyne.The development was first reported by The Business Times, which pegged the funding amount at US$7 million. The capital will be used to advance the development of its diagnostic technology platform.

Thrixen bags US$7M in funding to advance its diagnostics platform | e27

Brainfish Pty Ltd is an Al powered customer support platform. The Company provides Al help center and agent assistant solutions. Brainfish servers clients in Australia.

<ul><li>Brainfish, an AI-powered self-service customer support platform for businesses, has raised US$2.5 million in seed funding.</li><li>The latest round was led by Peak XV’s Surge, with participation from Macdoch Ventures, Black Sheep Capital, existing angel Justus Hammer (CEO MadPaws), and new angels.</li><li>This brings its total capital to US$3.3 million.</li></ul>

Brainfish, an AI-powered self-service customer support platform for businesses, has raised US$2.5 million in seed funding.The latest round was led by Peak XV’s Surge, with participation from Macdoch Ventures, Black Sheep Capital, existing angel Justus Hammer (CEO MadPaws), and new angels.This brings its total capital to US$3.3 million.

Surge leads self-service customer support platform Brainfish’s US$2.5M seed round | e27