TECHNOLOGY
LEARNING FROM FINTECH COMPANIES WITH SUCCESSFUL FUNDING EXPERIENCE
Happy Money Since being founded in 2009 , Happy Money has raised a total of more than $ 140m USD . The company is established around helping people manage their finances properly through various means of new technologies .
" I ' ve learned that investors are not afraid to let you know what they think , and that is of huge value . Take the feedback , test , iterate , and learn ," said Jeff Winner , CEO of Happy Money . " Also , as an engineer , I like to keep the discussion open , tell them what I am going to accomplish , and then come back and prove it ."
Jeeves Founded in 2019 , Jeeves is a New Yorkbased fintech company providing financial alternatives to organisations all around the world . So far , it has raised a total of $ 188m USD in venture capital funding .
" As a founder , raising venture capital means giving up control and economics in your company in exchange for money ," explained Sherwin Gandhi , Co-Founder and President of Jeeves . " What I ' ve learned is that the check size or investor logo does not determine how helpful the investor can be . The investor ' s network , their investormarket fit , and general willingness to help with recruiting and fundraising cannot be measured by the amount of money invested in a startup , yet those are some of the most important relationship features !" these investors are willing to take risks , but they also want to see positive changes taking place .
" When you ' re looking to raise capital , you must be able to address two questions : how big is your problem and how good is your solution at solving this problem ," said Antoine Argouges , Founder and CEO of Tulipshare . " What has become clear from the past two years is that our system is broken , and shouting about it has brought no meaningful change . What is needed now is action ."
“ I ' VE LEARNED THAT INVESTORS ARE NOT AFRAID TO LET YOU KNOW WHAT THEY THINK , AND THAT IS OF HUGE VALUE ”
JEFF WINNER CEO OF HAPPY MONEY
Potential Third , venture capitalists are looking for potential . They often want to see ideas with the ability to scale and be adopted by a large number of people .
" In my opinion , what attracts VCs to fintech is their potential and the opportunities for the next unicorn ," stated Laurent Lamothe , Founder of R-Ventures and Former Prime Minister of Haiti . " There ' s so much demand for easier , quicker , less costly payment systems and still room for more disruption in the financial sector ."
Other points to consider In addition to being credible , solving problems , and having potential , venture capitalists are also looking for the following in fintech startups :
• Team
• Business Model
• Competitive Landscape
118 February 2022