Jun 13, 2018 14:59 UTC
Jun 13, 2018 at 14:59 UTC
Up-close & Personal: ‘Fintech Capital of the Future’ at MoneyConf 2018
The ambit of Fintech Capital for a sufficiently long time, has been dashed by Blockchain technology and cryptocurrency. A session on this topic was conducted at the MoneyConf 2018. The session was guested by Rob Frohwein, Co-Founder and CEO of Kabbage Inc., and Alexander Grabner-Mueller, Founder and Deputy CEO of Kreditech. The session was hosted by Sarah Kocianski, who herself is a Principal Research Analyst at 11:FS. She began the session by addressing how the two Fintech stalwarts have accomplished the influence that they command and what it took for them to reach here.
Introducing Kreditech to the attendants, Mueller explained that his company is headquartered in Germany, and is a consumer lending company whose key USP is the wrecking technology that targets markets with low or no info of bureau. He also talked about how his company been in this domain “even before Fintech was a term.” Further, he stressed on the need for identifying Tech talent and Financial Services talent so that the community can do better work and provide better services.
Similarly, Rob talked about the growth of Kabbage and how it has proliferated over the years. He introduced the company to the less informed as an organisation that provides working capital under its brand in the US, and with several banking partnerships abroad. Boasting rightfully about his company’s expanse he mentioned how the company has infused $5 billion to 145,000 customers in US. The company is based out of Atlanta, Georgia and has approximately 70 people for data and analytics in Bangalore, India.
Speaking on the clarity among investors with respect to Fintech, Rob said “Investors are starting to get out of their backyard and take fintech investments more seriously. Over the last couple of years more investors in the US have opened up to investment deals.” Comparing the situations in the US and UK, Alex reiterated how there is less friction in attracting investors in Europe and things have only gotten better.
On the question of tapping investors in Asia, Rob said that- “The key is that there’s money everywhere and as an entrepreneur its your job to go find ‘it’. So if you’re thinking that you will generate money sitting in your home town then you are doing your company great de-service. It was noted that a lot of things come into play like
- Planning etc
Concluding the session, the two also harped on the role that culture plays in the blooming of a company and how culture is shaped by the way you manage and raise the company.