OBSERVATIONS FROM THE FINTECH SNARK TANK
Impact Alpha reported that robo-advisor platform Swell was shutting down at the end of August, noting the company said it was “not able to achieve the scale needed to sustain operations in the current market.”
Coming on the heels of the Finn shutdown, I thought this would be a good time to talk about why fintech startups fail.
The One Reason Why Fintech Startups Fail
A Google search on “why fintech startups fail’ yields roughly 4.3 million results. Articles listing the five, eight, and even 10 reasons why fintech startups fail abound.
Let me save you some time and tell you the one reason why fintech startups fail: They don’t make enough money.
Date: Augast 1, 2019