Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Fintech Week London Launches Independent Review to Address the Fintech Industry’s Sustainability
LSE | Amelia Isaacs | Jul 13, 2022
Image source: Raf De Kimpe/Fintech Week London
The London Stock Exchange is backing a new review into the rise and fall in funding and valuations in the fintech industry over the past few years.
The review, launched by Fintech Week London (FTWL), will bring together key industry partners, regulators, investors and fintech companies to ensure the industry “continues to thrive”.
Following record investment leves in 2021, there has been a sharp decline in fintech backing in 2022, with firms struggling to raise funds.
There has been an unfortunate growing trend of falling valuations, staff layouts and recruitment freezes across the industry as a whole.
The “ground-breaking” industry review hopes to address this explosive growth and rapid decline in funding and valuations within the fintech industry.
Fintechs at all stages of growth and development will feel the impact of changing valuations, slower funding rounds and hesitancy from investors.
See: UK Embedded Finance (Fintech Infrastructure) Fidel API Bags $65 million Series B
He explained this will have a knock-on effect on tech development, talent acquisition and retention, and the flow of innovative financial solutions to the end user.
He called on the community to share its thoughts on how best to protect the fintech industry in this independent review.
If anything, it ensures the sector can collectively take a step back and properly evaluate its long-term direction. After all, with Web3 technologies like blockchain on the horizon, we are very much likely to see a new wave of fintech innovation in the coming years.
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