FT Partners Research
Advisory Approach
FT Partners is the only global investment banking firm focused exclusively on the financial technology sector. Founded in 2002 by Steve McLaughlin after 20+ years as a senior banker at Goldman Sachs covering fintech and financial services, FT Partners has pioneered a boutique, sector-specialized approach to advising fintech companies on capital raises, M&A transactions, IPOs, and strategic partnerships. The firm's thesis is that boutique expertise in a rapidly evolving sector like fintech delivers superior outcomes compared to bulge bracket banks that treat fintech as just another industry vertical. FT Partners maintains an intimate understanding of fintech market dynamics, valuation trends, and strategic buyer/investor ecosystems that generalist banks cannot match.
Sector Focus & Deal Track Record
FT Partners has advised on over 400 transactions across the entire fintech ecosystem. Their practice spans six major fintech verticals:
Payments & B2B Commerce: AvidXchange ($2.2B sale to TPG & Corpay, 2025), Payzer ($250M sale to WEX, 2023), Intermex ($500M sale to Western Union, 2025), Bilt ($250M funding, 2025). The firm has a track record of representing fintech payments platforms through multiple capital raises and eventual strategic acquisitions or IPOs.
Digital Assets & Crypto: Deribit ($4.3B sale to Coinbase, 2025—the largest strategic M&A deal ever in the digital assets space), Hidden Road ($1.25B sale to Ripple, 2025), and other blockchain/crypto infrastructure companies. FT Partners has become the leading advisor to institutional crypto platforms seeking strategic exits.
Financial Management Solutions: AvidXchange's long-term advisory relationship since 2009 through 16+ transactions including its IPO and eventual $2.2B exit demonstrates FT Partners' depth in fintech's financial automation vertical.
Alternative & Consumer Lending: Brigit ($460M sale to Upbound), various lending platform refinancings and exits.
Wealth & Capital Markets Technology: Multiple advisory engagements with wealth management platforms, including Revolut (multi-billion dollar private raises), and capital markets infrastructure companies.
Financial Services Infrastructure: Model ML ($75M Series A led by FT Partners, 2025), Docupace (sale to Genstar Capital), and other B2B fintech enabling companies.
FT Partners' founder Steve McLaughlin is widely recognized as the #1 most influential investment banker in fintech, having been named to Institutional Investor's "FinTech Finance 40" ranking for consecutive years and featured as #1 dealmaker. The firm is described as the largest fintech-focused investment bank globally and has won numerous "Investment Banking Firm of the Year" and "Dealmaker of the Year" awards from The M&A Advisor and other prestigious organizations.
Process & Advisory Model
FT Partners employs a deeply hands-on, sector-expertise-driven advisory model that differs significantly from transaction-oriented banking:
- Long-term relationships: The firm builds multi-year, multi-transaction relationships with clients (e.g., 16 transactions with AvidXchange since 2009), advising founders from seed stage through IPO or strategic exit
- Deep industry knowledge: 30+ person dedicated research team publishing comprehensive quarterly and annual fintech market insights, deal statistics, and trend analysis
- Institutional process rigor: While boutique, FT Partners maintains investment banking discipline: comprehensive buyer/investor outreach, management presentation preparation, process management, and negotiation support
- Founder-centric approach: McLaughlin emphasizes understanding founder objectives and building compelling "fundraising narratives" that unlock large valuations—recent examples include Revolut's $33B+ valuation and Worldcoin's $100M+ raises
- Global reach: Offices in San Francisco, New York, Miami, and London enable cross-border transactions and access to both US and European fintech buyers/investors
Fee Structure & Engagement Model
FT Partners does not publicly disclose fee structures, but based on industry practice for boutique investment banks of comparable stature:
- Success fees on M&A transactions (likely 1-3% of total enterprise value)
- Advisory retainers for capital raise engagements (estimated $50K-$250K+ for major fundraises)
- Equity participation: FT Partners founder Steve McLaughlin maintained equity in AvidXchange from his personal seed investment ($20M equity value) through its 2025 $2.2B exit, illustrating the firm's willingness to take founder-like stakes in early clients
Buyer Network & Strategic Relationships
FT Partners maintains extensive relationships across the fintech ecosystem:
Strategic Acquirers: Coinbase, Ripple, Western Union, TPG, Corpay, and other major fintech platforms that actively acquire bolt-on capabilities
Private Equity Firms: Genstar Capital, Third Point, and other PE firms increasingly targeting fintech businesses for recapitalization and growth capital
Institutional Investors: Y Combinator, QED Investors, Accel, and other top-tier VCs that finance FT Partners' clients
Alternative Capital Sources: Family offices, strategic investors (e.g., Tether, Ant International), and secondary market investors
Competitive Positioning
FT Partners differentiates from bulge bracket investment banks and other boutiques through:
- Sector Purity: The only major investment bank focused exclusively on fintech—no conflicts or divided attention across industries
- Founder Credibility: Steve McLaughlin's 40+ year track record in fintech starting at Goldman Sachs, combined with his operational investments in clients, gives the firm founder-level credibility
- Research & Insights: The firm publishes the FinTech Almanac (annual comprehensive deal statistics), quarterly insights reports, and equity research—making them a definitive data source for the industry
- Historical Success Rate: A 400+ transaction track record with many multi-transaction relationships (longest: 16+ transactions with one client) demonstrates consistent ability to generate favorable outcomes
- Timing & Market Positioning: Founded in 2002 before fintech was mainstream, FT Partners has been at the absolute center of fintech's growth from fringe to mainstream, giving them unmatched institutional knowledge
Not a Fit If
- Non-fintech companies (FT Partners exclusively focuses on financial technology sector)
- Small early-stage startups without meaningful traction or revenue (sweet spot is growth-stage and beyond)
- Companies seeking commodity/price-driven advisory (FT Partners operates at premium positioning)
- Businesses needing bulge bracket brand name on the letterhead (they're a boutique)
Team
Steve McLaughlin — Founder, CEO, and Managing Partner. 40+ years in fintech starting as senior banker at Goldman Sachs (20+ years covering fintech and financial services). Named #1 most influential investment banker in fintech by Institutional Investor multiple years consecutively. Personally invested in FT Partners clients including AvidXchange (held from $20M to $2.2B exit). Frequently featured on major podcasts and media discussing fintech trends, M&A strategy, and founder fundraising narratives.
Geographic Coverage & Offices
FT Partners operates globally with established offices in:
- San Francisco, CA (headquarters)
- New York, NY
- Miami, FL
- London, UK
The firm serves fintech companies across North America, Europe, and increasingly Asia-Pacific.
Notable Statistics
- Founded: 2002 (24 years of fintech advisory experience)
- Team Size: Approximately 250 professionals as of 2025
- Total Transactions: 400+ completed transactions across financing, M&A, and IPO advisory
- Recent Deal Activity: 2025 saw record activity including $4.3B Deribit-Coinbase deal, $2.2B AvidXchange-TPG deal, $1.25B Hidden Road-Ripple deal, and numerous large capital raises
- FINRA Registration: Yes (CRD# 129356, FTP Securities LLC is member of FINRA and SIPC)
- International Regulation: FinTech Partners Ltd (FRN: 787501) is authorized by UK FCA
Why Fintech Companies Choose FT Partners
Fintech founders and CEOs select FT Partners because:
- No conflicts of interest (fintech-only focus means their equity research, transaction advisory, and strategic insights are aligned)
- Deep founder credibility (Steve McLaughlin has lived through fintech's entire evolution)
- Successful multi-stage relationships (same banker advises from Series A through IPO/exit rather than handing off to different teams)
- Market-making ability (their central position in fintech ecosystem means they can credibly represent companies to buyers/investors)
- Research-backed insights (they publish the definitive fintech deal database)
- Founder-friendly terms (willingness to take equity stakes and long-term relationships over transactional fees)