Resources:
Watchlist of startups in this space:
- Braid_app
- Public
- YottaSavings
- Zash
- Cash App
- Doji
- Finimize https://www.finimize.com
- Trade Republic
- Scalable Capital
- Commonstock
- N26
- Revolut
- SoFi
- Otis
- Ralley Rd.
- Mythic Markets
- Digit
- Tomorrow
- Flooz.link
- Ellevest
- MainStreet
Older companies:
- Prosper
- Wealthfront
- Credit Karma
- Venmo
- Wikifolio
- Acorns
Cases:
- Help buy first home
- Reduce debt
- See others portfolios, benefit portfolio manager
- Invest in stocks
- Invest in culture/art
- Invest with friends
- Finances for couples / groups
- Invest university egree
Interesting concepts:
- HENRY - High earning, not rich yet (analogue to affluents)
- ROSCA - Rotating savings and credit association. Community of 10, everybody pays 100€ a month and one person in the community receives 1000 a month. A bug sum…
- functional vs. emotional challenge: good example are budgeting apps. Functionally making sense but people don’t like/use them (underachieving makes you feel bad > you stop reporting/using) and it becomes easier to delete app than to stick to goals
Main thesis:
- Every company is eventually becoming a FinTech company
- Things like stickiness, cross-sell, acquisition are hard problems for FinTechs that become much easier with a social layer