Fintech has been in a downward spiral lately, with companies like Brex having to downsize in an effort to cut costs. However, despite the negative outlook, there are still plenty of positive developments in the world of financial technology. Bilt Rewards recently raised a hefty sum in funding, pushing its valuation to unicorn status. Additionally, Klarna, a major player in the Buy Now, Pay Later space, has been making strategic moves to increase profitability and growth.
The Exchange, a TechCrunch newsletter, explores the latest startups, markets, and money news in the fintech industry. Although there hasn’t been much activity in terms of fintech IPOs, venture capital is still flowing into the sector, showing cautious optimism from investors.
So, which fintech startups are making a splash and capturing the attention of investors? GGV US has compiled a list of the top 50 fintech startups that are generating buzz. We had the opportunity to speak with GGV managing partner Hans Tung about their thoughts on the current state of the industry.
When it comes down to it, the most notable areas within fintech to keep an eye on are lending, treasury management, and the CFO stack.
But before we dive into the positive news, let’s address the underlying narratives that have attributed to fintech’s slow progress this year. One factor contributing to this is the oversized fundraising rounds that some successful startups underwent, leading to an excess of employees and inflated valuations that don’t align with the current market standards.