In this episode, the first of a multi-part miniseries on FinTech, I have an illuminating discussion with two of the leading FinTech thought leaders, practitioners & connectors in the US today. Joining us are David Jegen, Managing Partner of F-Prime Capital and Sarah Biller, Managing Partner of VantageVentures. David is an active early stage investor in Fintech. Sarah, formerly Chief Innovation officer at State Street, is a serial FinTech entrepreneur. Both David and Sarah are also co-founders and board members of the FinTech Sandbox. The Sandbox grew from an idea to a robust & engaged community of 4500+ FinTech professionals under their leadership.   Venture Capitalists continue to invest heavily in FinTech startups. Cumulatively, they invested $24B USD in the first three quarters of 2019. Globally, there were 60 FinTech funding rounds above $100M. As David and Sarah are quick to point out, they take a far more expansive view of how FinTech is defined and believe the numbers grossly underestimate how big this market really is. Listen to the podcast to get their fascinating perspective.     Working with more a traditional definition of Fintech, Revolut, the rapidly growing British financial payments upstarts, announced 24 February, raised $500M at a $5.5B USD valuation. They provide app -based currency accounts, currency exchange services and money transfers and have ambitions to build a global bank. Over the past year, they’ve doubled their number of customers to 10M. They will soon launch in the US.   In China, AntFinancial has achieved 50% of the  market valuation of Citgroup in just 5 short years. Apps like WeChat and Alipay have totally disrupted Chinese mobile commerce, making the country  an almost entirely cash free society.   The FinTech Revolution is already having a huge impact on our daily personal and professional lives in the US. Some examples:   Apps like Venmo, Square’s Cash App, Zelle, and Transferwise are enabling far easier cash transfers with no fees.   Affirm, led by Paypal Co-Founder Max Levchin, provides millions of shoppers alternatives to credit cards at the point of sale, enabling simple monthly payments.   Trading apps like Robinhood are being used by countless millennials to trade stocks in ways not previously imaginable.   The Brex card has transformed startups financial, expense  & credit management.   Not to be left out, major financial service industry players are very much in the game, Plaid offers the ability to consolidate banking data, making it far easier for Fintech and Banking Industry application developers to delivers a digitally enabled financial system. Plaid was recently acquired by Visa for $5.3B Marcus, from Goldman Sachs, offers fixed rate no fee personal loans   Next week- we’ll do a deep dive on the FinTech Sandbox.

Disruptive Innovation Podcast (D.I.P.)

Nakiso Maodza & Mike Grandinetti

Episode 21: We Ask Some FinTech Thought Leaders, What’s Happening in FinTech Today? - Part 1 of 2

MAR 6, 202035 MIN
Disruptive Innovation Podcast (D.I.P.)

Episode 21: We Ask Some FinTech Thought Leaders, What’s Happening in FinTech Today? - Part 1 of 2

MAR 6, 202035 MIN

Description

In this episode, the first of a multi-part miniseries on FinTech, I have an illuminating discussion with two of the leading FinTech thought leaders, practitioners & connectors in the US today. Joining us are David Jegen, Managing Partner of F-Prime Capital and Sarah Biller, Managing Partner of VantageVentures. David is an active early stage investor in Fintech. Sarah, formerly Chief Innovation officer at State Street, is a serial FinTech entrepreneur. Both David and Sarah are also co-founders and board members of the FinTech Sandbox. The Sandbox grew from an idea to a robust & engaged community of 4500+ FinTech professionals under their leadership.   Venture Capitalists continue to invest heavily in FinTech startups. Cumulatively, they invested $24B USD in the first three quarters of 2019. Globally, there were 60 FinTech funding rounds above $100M. As David and Sarah are quick to point out, they take a far more expansive view of how FinTech is defined and believe the numbers grossly underestimate how big this market really is. Listen to the podcast to get their fascinating perspective.     Working with more a traditional definition of Fintech, Revolut, the rapidly growing British financial payments upstarts, announced 24 February, raised $500M at a $5.5B USD valuation. They provide app -based currency accounts, currency exchange services and money transfers and have ambitions to build a global bank. Over the past year, they’ve doubled their number of customers to 10M. They will soon launch in the US.   In China, AntFinancial has achieved 50% of the  market valuation of Citgroup in just 5 short years. Apps like WeChat and Alipay have totally disrupted Chinese mobile commerce, making the country  an almost entirely cash free society.   The FinTech Revolution is already having a huge impact on our daily personal and professional lives in the US. Some examples:   Apps like Venmo, Square’s Cash App, Zelle, and Transferwise are enabling far easier cash transfers with no fees.   Affirm, led by Paypal Co-Founder Max Levchin, provides millions of shoppers alternatives to credit cards at the point of sale, enabling simple monthly payments.   Trading apps like Robinhood are being used by countless millennials to trade stocks in ways not previously imaginable.   The Brex card has transformed startups financial, expense  & credit management.   Not to be left out, major financial service industry players are very much in the game, Plaid offers the ability to consolidate banking data, making it far easier for Fintech and Banking Industry application developers to delivers a digitally enabled financial system. Plaid was recently acquired by Visa for $5.3B Marcus, from Goldman Sachs, offers fixed rate no fee personal loans   Next week- we’ll do a deep dive on the FinTech Sandbox.