JC Bahr-de Stefano(@jbahrdestefano):Also we now have a good amt of data from biz banking platform funding rounds this yr re: how they are valued! A few obs: > don't forget @tryramp is actually an AI lab (hence the val premium) > @mercury seems like best value on the board at 8x given 4 yrs of profitability, most customers, + furthest ahead in the charter race (expect bank to be live next yr) > based on rev per customer, seems like @slashapp + @FlexSuperApp having success going after high-spend customers > @meow just raised a $31.6M series B led by @Stifel but couldn’t find any data points on the scale of the biz other than the fact that it’s been profitable since ‘24 exit math check: @CapitalOne paid ~7.5x for @brexHQ ($5.15B on ~$700M rev growing 40% YoY)

2026.10.19 21:00

Also we now have a good amt of data from biz banking platform funding rounds this yr re: how they are valued! A few obs: > don't forget @tryramp is actually an AI lab (hence the val premium) > @mercury seems like best value on the board at 8x given 4 yrs of profitability, most customers, + furthest ahead in the charter race (expect bank to be live next yr) > based on rev per customer, seems like @slashapp + @FlexSuperApp having success going after high-spend customers > @meow just raised a $31.6M series B led by @Stifel but couldn’t find any data points on the scale of the biz other than the fact that it’s been profitable since ‘24 exit math check: @CapitalOne paid ~7.5x for @brexHQ ($5.15B on ~$700M rev growing 40% YoY)