Public Comps and Valuation Multiples for Neobanking

Benchmark revenue and EBITDA valuation multiples for public comps like
Nubank, SoFi, Jio Financial Services, Wise and PayPay.

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Viewing 25 of 40 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
Nubank	$65B	$63B	$19B	3.3x	-
SoFi	$23B	$25B	$4B	6.0x	18.8x
Jio Financial Services	$16B	$18B	$341M	54.0x	-
Wise	$12B	($5B)	$3B	(2.1x)	(8.2x)
PayPay	$10B	$11B	-	-	-
Chime	$8B	$7B	$2B	2.8x	25.2x
Paytm	$8B	$6B	$917M	6.5x	75.6x
Klarna	$8B	$5B	$4B	1.3x	29.7x
KakaoBank	$6B	$7B	$1B	6.5x	-
Rakuten Bank	$6B	$23B	$2B	15.1x	-
Dave	$5B	$5B	$634M	7.6x	18.0x
NOBA Bank	$4B	$7B	$1B	5.4x	-
Kakao Pay	$4B	$349M	$723M	0.5x	3.8x
Banco Inter	$2B	$5B	$2B	2.7x	-
Banco Invex	$2B	($2B)	$28M	(58.5x)	-
Kbank	$1B	($1B)	$390M	(2.8x)	-
PicPay	$1B	$1B	$2B	0.6x	4.7x
Wealthfront	$1B	$916M	$371M	2.5x	5.5x
Agibank	$1B	$1B	-	-	-
Superbank Indonesia	$1B	$985M	-	-	-
Green Dot	$766M	($315M)	$2B	(0.1x)	(1.7x)
Wema Bank	$756M	$838M	-	-	-
Bank Jago	$746M	$843M	$192M	4.4x	-
Rhino Bitcoin	$742M	$742M	-	-	-
Judo Bank	$725M	$3B	$362M	8.1x	-
NewtekOne	$428M		$304M
Lesaka Technologies	$426M		$2B
Morrow Bank	$318M		$176M
First Internet Bank	$243M		$169M
Amar Bank	$195M		-
Instabank	$187M		$73M
MNC Financial Services	$119M		-
Stakk	$64M		-
Change Financial	$36M		$18M
Mogo	$27M		$49M
Fiinu	$27M		-
Tandem Group	$13M		$36M
Novatti Group	$6M		-
Zoompass Holdings	$522K		-
QIWI	-		-