In 2012 david vélez tried to open a bank account in Brazil. “It was like going to prison,” he says. He was ordered to leave his belongings in a locker before walking through bulletproof doors.
There are certain things that seem to inflame passions in a “if you are not with us, you are against us” way.
Brexit. Herd immunity. Your favourite Bond.
And daring to say that the “new normal” of being away from the office is anything other than blissfully liberating.
In Q3’20, mega-rounds (deals worth $100M+) accounted for 60% of total fintech funding — the highest percentage share since Q2’18. Funding represented by mega-rounds increased 24% quarter-over-quarter (QoQ) to $6.4B, while non-mega-round funding declined 16%.
What’s the best way to understand the impact of fintech on the U.S. financial services industry?
At a macro level, you can look at things like share of market capitalization in financial services.
As Ant Group seizes the world’s attention with its record initial public offering, which was abruptly called off by Beijing, investors and analysts are revisiting the fintech interests of Tencent, Ant’s arch rival in China.
The rise of fintechs promises to spur competition in the financial sector. This could lead to sizeable efficiency gains, more choice for consumers, and enhanced financial inclusion. However, the potentially disruptive growth of firms offering novel products and services poses new challenges for financial stability and consumer protection.