Money and credit are some of the oldest technologies. They are essential to daily life, but have evolved at a glacial pace for centuries. Financial incumbents slowed progress with opaque, predatory, and often inaccessible products. They built a zero-sum world and prospered at the expense of their customers.
That is finally changing as technology seeps into finance. Paper-based processes, COBOL monoliths, and regulatory barriers are giving way to modern infrastructure. Entrepreneurs now have the building blocks to create entirely new financial products.
We believe that a non-zero sum mindset is the key competitive advantage here. Entrepreneurs who align the interests of their company and customers will create category-defining fintech companies that will dwarf even the largest incumbents. There are massive opportunities across the financial world, from payments and credit, to financial infrastructure and banking, to proptech and insurtech, and beyond. We're excited about the opportunities that transparency and accessibility will bring to those important categories.