Don’t worry or concern yourself about the next billion dollar deal (WHAT?), its more about the next few billion people. What that means is that there are billions of people who lack basic banking, access to credit and all the things we are used to and are slowly gaining access to the “connected world”. (Note; just went to an event where it was mentioned that some countries now have more access to the internet than have running water). South Asia and Africa are massive growth areas for new technology and those billions of people are going to need BILLIONS of dollars of infrastructure. Forget the first billion dollars, go for the MANY billions. Great read.
(Bill Taylor/CEO)
With more than 1,440 global deals and an estimated $14.7 Billion investment, 2016 was a booming year for FinTech. 2017 looks to be more of the same.
With so many dollars flowing and deals happening in the FinTech world, there’s lots to talk about.
Most often, the buzz seems to be around:
- Cool technology
- Huge investments
- Disruption and reinvention of financial services
- Lucrative exits or flameouts of high-profile startups
Stories of scrappy startups taking on megabanks make compelling reading, especially if those startups somehow reach Unicorn status.
What’s next?
The buzz around current billion-dollar deals often drowns out news from the other end of the economic spectrum. the so-called “Next Billion” in the developing world and now coming online to join the world’s approximately 3.5 billion internet users.
Some of today’s most interesting FinTech news isn’t coming from cutting-edge organizations in Silicon Valley, New York and London.
The Next Billion are often people who lack access to even basic financial services. There are a number of FinTech companies focused on bringing secure banking, payment systems, credit and investment to millions of people who have never had them before....
In mature markets may be related to process and convenience. Instead of spending days wrestling with paperwork, you can apply for a mortgage from your tablet in minutes. Impressive, but not life-changing.
In emerging markets may mean an entrepreneur in Africa or Central America has access to credit and business resources for the first time. The opportunity for millions of people with no financial history to establish a a business reputation and creditworthiness Fintecan change the world..."