Launching a FinTech Startup

Tech startups create products for various business sectors. They have received a powerful impetus in medicine, finance, banking, and education.  The task of such a startup is to build up its value, create a new product and generate demand for it and ensure high company value in the future.

How to launch a FinTech startup

FinTech provides financial services and services created by applying innovations (Big Data, AI, machine learning, blockchain, robotics, biometrics, cloud technology).

The BaaS (Banking as a Service) model can be used to launch startups quickly. The largest current FinTech startups have come to success precisely through cooperation with BaaS partners, offering customers credit products, card issuance, investments, insurance, and payments.

Development is carried out under GDPR regulations, implying mandatory consent to the terms of registration (use) of the product.

The capitalization figure is influenced by the perspective of the business model. The greatest difficulty is implied for non-banks as well as online lending startups. Unsuccessful Fin-Tech niches are those that cannot rise without a constant financial boost from venture capital funds.

What tech startups still exist

• MedTech. Medical technology startups concern the development of medical devices, digital technology, and laboratory diagnostics.
• EdTech. A startup in the educational field has a high success rate due to the expansion of the opportunity to learn in an online format.
• PropTech – digitalization in the areas of real estate, creating their own marketplaces. Innovative technologies automate, digitize the process from search to arrangement of premises.
• InsurTech – technologies in the sphere of insurance, including online. Solutions for BigData, AI, chat-bots, cyber-security, Internet of things, mobile technologies are among the in-demand.
• BioTech. Biotechnology solutions are in demand in agriculture, energy, chemical and food industries. They help solve ecological and economic problems and cope with various diseases.
• HealthTech. Healthcare startups dock with IT, insurance, and patient data security. Investors are primarily interested in the applied value of the idea.

• InsurTech. Tech startups in the insurance field are needed for on-demand insurance services, risk calculation, simplify-projects. Accelerator programs offer support for startups.
• WealthTech. Asset management technologies are part of the FinTech niche. Our company seeks automated platforms for investors to make financial decisions.
• RegTech. Regulatory technologies are in demand for companies engaged in data verification, reporting automation, data protection.
• LegalTech. Automation of jurisprudence makes the law accessible to all. Products in this area are designed for both lawyers and consumers.
• FoodTech. Investing in products of the future transforms the food system. The niche includes developments in food delivery and packaging, agro-technology, alternative protein, etc.

• CleanTech. Waste reduction solutions, and recycling waste into energy.
• RetailTech. Retail solutions covering a multitude of technologies.