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Matt Harris, Partner at Bain Capital Ventures – Lessons From Three Decades of Fintech Investing, What Defines Great Founders, & Embedded Finance’s Massive Potential

Fintech Leaders

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Do You Want to Build a Bank?

Matt Harris: I had no edge in assessing Brazil when Newbank was founded, but I had incredible regard for Nigel Morris who nailed it and spent a huge amount of time with David. And so this is another question is like, do you want to build a bank? Banks, zero exception, trade at book value multiples as they should. So between the dilution and the ultimate valuation multiple, you still have to ask yourself whether you want to be a bank investor or if that suits the venture capital model.

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