top of page
Logos DealMaker 2023_Logo Branco.png

GLOBAL EXIT ACTIVITY (2019-2025)

  • Writer: Fernanda Bezerril
    Fernanda Bezerril
  • Dec 2, 2025
  • 1 min read

IPOs are resurfacing in the U.S., albeit with greater selectivity.


After nearly two years of a closed window, the global exit market is showing signs of life again — with the financial sector at the epicenter.


While in 2021 reaching an IPO was largely driven by promises, today the focus is on consistently delivering results. Fintechs such as Circle, Chime, and eToro successfully went public in 2025, reigniting optimism among investors and founders.


Vertical bar chart titled “GLOBAL EXIT ACTIVITY (2019-2025),” with a dark background simulating a starry sky. The chart shows the annual growth in investment exit activity, comparing three categories: Acquisition, Buyout, and Public listing. The horizontal axis shows the years: 2019, 2021, 2022, 2023, 2024, and 2025 (the latter marked with an asterisk, indicating a projection or partial data). The vertical axis indicates the quantity, ranging from 0 to 50,000. The bars show a trend of continuous growth over the years: In 2019, the volume is slightly above 1,000. In 2021, it rises to approximately 1,500. In 2022, it reaches the 2,000 mark. In 2023, it jumps to almost 3,000. In 2024, it exceeds 3,000. In 2025, it reaches the peak of the graph, approaching 3,500. The footer contains the information “As of June 2025” (Data from June 2025), the source “Source: KPMG.” Translated with DeepL.com (free version)

This shift marks a new cycle: sustainable business models, predictable revenue, and a solid customer base have replaced “growth at any cost” as the new benchmark for value.


• 2022–2024: only 3 IPOs — a historic drought

• 2025 (Q1–Q2): 14 fintech IPOs globally

• 2025 (Q3–Q4 – projection): 8 to 12 fintechs in the pipeline


The window is open — but likely only for the next 12 to 18 months. Beyond that, the market may enter another slowdown cycle, potentially between 2027 and 2028, amid growing risks of a global recession.


At DealMaker, we closely monitor the reopening of exit markets and support companies in preparing for the next wave of liquidity, with a focus on strategy, timing, and positioning.



GLOBAL EXIT ACTIVITY (2019-2025)


By DealMaker Insights | DealMaker

bottom of page