📶 Discussing the future of fintech with Drew Glover (General Partner @ Fiat Growth)

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Guest: Drew Glover (@DrewBailer)

Company: Fiat Growth

Background: Fiat Growth is an emerging VC focused on supporting and growing the next generation of fintech companies.

• Differences in evaluating and investing companies at different stages of the lifecycle

• Overcoming the hurdles of selling into financial services

• Subsectors of fintech that Drew and the team are diving into

Key takeaways (30-second version):

• Fintech is no longer building for the 1%. Fintech companies today are building for the 99% of people worldwide.

• If you want better access into growing companies, offer consulting services. This is how Drew and his team started, and once they established themselves, they started trading their effort for equity.

• Starting a fund from scratch is an absolute grind. Starting a fund requires 1,000 conversations, and that doesn't factor in all of the follow up communication that goes along with that.

• Fintech can help every outdated industry. Healthcare is an example of an industry that uses outdated technology to operate, and new tech can streamline operations and reduce billions of dollars of wasted resources through efficiency savings.

• The more specialized you are, the better insights you can provide on what works. If you're able to see 100 different acquisition funnels, you should have a good idea on what works and what doesn't.

• "The best LPs don't come from one-call closes." Your ideal LP is multiple connections points away, and you'll have to meet lots of interesting people to get connected to the right long-term partners.

• "Have more meetings than you could ever imagine you need." Fundraising is a numbers game, and you have to book more meetings than you anticipate.

• Ideal acquisition partners are unique. You have no edge if you are competing for attention through Meta, Google, Amazon, or any aggregator.

• Smart founders are the savviest around CAC. Blindly spending money to acquire users is a trait of founders NOT worth betting on.

• As more creators pop up and earn income online, more fintech opportunities pop up. One of the biggest areas Drew and his team are looking at is the tax opportunity of having to report income from multiple different sources as a 1099 worker.

Full talk (50-minute version):

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Featured jobs:

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Tweet of the week:

From the archives:

🇺🇸 Lessons on building tribalism (Tyler Denk @ beehiiv)

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- Clay and Tyler