The entire fintech industry is not in distress

The entire fintech industry is not in distress

The entire fintech industry is not in distress

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“The buzz and momentum of these companies is unlike anything I’ve seen before”

With so many With fintechs laying off staff, it can be easy to assume the whole industry is in distress.


But this is not the case. In fact, some companies are finding opportunities in the masses of layoffs.

Rex Salisbury, founding partner of Cambrian Ventures and former member of the fintech investment team at Andreessen Horowitz (a16z), believes that early-stage fintech founders, particularly in the pre-seed and seed stages , “are the big winners in today’s job market. and are attracting top talent that would have been unreachable 6 months ago. The buzz and momentum of these companies is unlike anything I’ve seen before, it’s incredible.

And Lee Hower, co-founder and partner of NextView Ventures who was part of the founding team of LinkedIn, believes that despite the downturn, there are still “thriving” fintechs.

“I was an early employee of PayPal and we grew during the dotcom meltdown and we were a rare IPO in 2002,” he told TechCrunch. “The brightest stars in fintech today are similarly succeeding despite the macro backdrop, as they solve real problems that consumers, businesses and financial institutions face every day.”

Here are some fintech companies that are hiring. Note that this is obviously not an exhaustive list and we will follow more in future editions of our fintech newsletter, The Interchange. (Note, it comes out every Sunday and it’s FREE).

  • Insurance infrastructure start-up Lulawhich has raised $18 million in funding from companies including NextView Ventures, Founders Fund and Khosla Ventures, is hiring 10 in engineering, product and sales.
  • Another infrastructure startup, Unit, is also hiring – with nearly a dozen open positions in the US and Israel. Last year, the company raised $100 million in Series C funding led by Insight Partners at a valuation of $1.2 billion.
  • Deploya New York-based company that provides consumers with financial, identity and privacy tools, recruits 8 engineers for its new product, Hello Privacy. The company raised $67 million from Battery Ventures, NextView Ventures and General Catalyst.
  • Trading app recruits 14 people in engineering, support, operations, marketing, product and design. The company last raised in 2021 – a $220 million Series D funding round at a $1.2 billion valuation.
  • securesavean emergency savings fintech, is recruiting at least five positions over the next few months in sales and operations.
  • Order recruiting 5 positions in sales, finance, operations and engineering. The company recently raised $43 million in fees led by Andreesen Horowitz
  • OatFi, a B2B BNPL which recently raised an 8 million dollar seed of QED and Rex Salisbury of Cambrian, hiring for four roles.

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