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There are many signs that fintech is in a bubble, billionaire investor Flowers says
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cnbc.comBillionaire investor J. Christopher Flowers is worried there's a bubble emerging in the financial technology market.
«I think there are a lot of indicators that there is a bubble» in fintech, Flowers, CEO of investment firm J.C. Flowers & Co, told CNBC's Annette Weisbach in an interview.
Fintech companies have seen their market values soar in both the public and private markets over the past year, with some firms trading at higher valuations than major banks.
PayPal, for example, has a market cap of $242 billion, higher than that of Wells Fargo or Citigroup. Square, the fintech venture of Twitter CEO Jack Dorsey, is worth nearly $107 billion, more than U.S. Bancorp.
Among privately-held companies, Stripe was last valued at an eye-watering
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