FinLab - Adding value to the fintech portfolio

Following the high transaction activity in H218, FinLab has since focused on value creation within its existing fintech portfolio companies. In H119, a positive impact from revaluations offset the c 25% decline in Heliad Equity Partner’s share price in the period and NAV per share remained broadly stable at €20.21 vs €20.44 at end 2018. Significant developments at its largest holdings in H219 include Deposit Solutions becoming a fintech unicorn following the funding round with Deutsche Bank and Kapilendo transitioning to a digital banking partner for medium-sized businesses in September 2019. Notably, Heliad’s share price has increased 30% since end-June 2019, presumably driven by stock catalysts at its largest portfolio holding, flatex.