‘The buzz and momentum for these companies is unlike anything I’ve seen before’
Mary Ann Azevedo
12 hours
With so many fintechs laying off staff, it can be easy to assume that the entire industry is in distress.
But that’s not the case. In fact, some companies are finding opportunity in the masses of layoffs.
Rex Salisbury, founding partner of Cambrian Ventures and formerly on the fintech investment team at Andreessen Horowitz (a16z), believes that early-stage fintech founders, particularly at the pre-seed and seed stages, “are the big winners in the current job market and are pulling in top talent that would have been inaccessible 6 months ago. The buzz and momentum for these companies is unlike anything I’ve seen before, it’s incredible.”
And Lee Hower, a co-founder and partner at NextView Ventures who was on the founding team of LinkedIn, believes that despite the downturn, there remain fintechs that are “thriving.”
“I was an early employee at PayPal and we grew during the dotcom bust and were a rare IPO in 2002,” he told TechCrunch. “The brightest stars in fintech today are similarly succeeding despite the macro backdrop because they’re solving real problems that consumers, business …
