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November 17, 2021   FinTech and Alternative Finance, Fintech Interviews and Podcasts, Fintech Opinions, Fundraising, Investing, Trading, Innovation and Resources, Venture Funding and Building   No comments

Q&A with Fintech Investor David Nault, Co-Founder & General Partner, Luge Capital

Luge Capital | David Nault | Nov 17, 2021

NCFA David Nault Luge Capital - Q&A with Fintech Investor David Nault, Co-Founder & General Partner, Luge Capital

Has your investment thesis changed pre-covid versus now?

Covid has been a digital reality check for financial institutions. The strongest companies that have emerged post Covid are those helping financial institutions accelerate their digital transformation without being a victim of long sales cycles. Our thesis has changed little in that we believe in collaborating with financial institutions and removing friction for users to consume financial services.

What do you see as the long-term impact of COVID-19 on the pace, shape and evolution of the Canadian fintech ecosystem?

Many of the services provided by financial institutions were done face to face or with a wet signature. Due to Covid this is changing and will last longer term.

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The other big change is that a larger portion of talent working in financial institutions will be able to work remotely which will provide a larger more skilled talent pool and savings.

What fintech verticals are you most excited about over the next 5 years and why?

  • We're seeing big growth in digital insurance (B2B and B2C) especially in life and health and employee benefits.
  • The gig economy is driving digital SMB banking and this is a huge market.
  • Security will continue to grow due to new digital financial services that increase possible risk.
  • Online financial services means the need for more data analytics and process automation.
  • As crypto continues its momentum, we beleive there are significant opportunities to further develop user-friendly DeFi applications to address a broader user base.

What advice would you give fintechs who are looking for new ways to tap the global market during this crisis?

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I have some general comments then one specific comment during covid.

  1. Succeed in one big market before going to another. Going into other markets requires resources and teams that understand the nuances of those other markets including, user preferences, regulation, and compliance.
  2. Make sure to architect the solution so that it is multilingual and multicurrency.
  3. Ask yourself can my business scale in other geographies if travel restrictions continue?

Is there anything else you’d like to add?

One last thing. Covid may accelerate certain businesses however it is important to understand demand post covid to map out the longer-term strategy.

NCFA Fintech Confidential Issue 4 250 - Q&A with Fintech Investor David Nault, Co-Founder & General Partner, Luge Capital

This article is featured in NCFA's digital magazine, Fintech Confidential (Issue 4 Oct 2021). Click to read the latest thought leadership, insights and trends about Fintech in Canada:

Checkout NCFA's digital magazine, Fintech Confidential (Issue 4) --> here

 

NCFA Jan 2018 resize - Q&A with Fintech Investor David Nault, Co-Founder & General Partner, Luge Capital The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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