Future of Fintech Startups: LiveFlow Product Hunt

    The fintech sector has been growing at a monumental pace every year. Fintech Startups all across the globe have garnered funding of almost a hundred billion dollars which only moves on to suggest the kind of potential these fintech startup ideas possess. These ideas have attracted investors and tech giants alike to spend the big bucks on them, proving their worth every step of the way. As more and more fintech startups begin to crowd the finance sector, it has become important to study the various reasons behind its growth, its future possibilities, and the kind of companies that one could invest in in the future.

    The global fintech market continues to flourish, and it is expected to hit 310 billion through 20222. Massive growth in the digital payment sector is undoubtedly one of the major driving factors behind this, but the question is, what else is in store for this sector and what is the future of fintech?

    The Future of Fintech Startups:

    The fintech startup ideas aim to provide financial services in a much easier way. On any mobile phone, people can nowadays buy any financial products. Secondly, it is much cheaper, especially eliminating establishment costs and the additional costs related to the traditional banking system. Thirdly, fintech companies help to provide liquidity to our economy via equity and debt financing solutions which are equally important. One of the other key areas in which fintech startups have proven essential is that the data is being analyzed much better. So big data is turned into meaningful data for better decision-making. Last but not least, fintech startups are all about helping the whole world by creating an environment where people who were excluded from financial services can be included. So fintech startups have the potential of reducing poverty globally and can bring economies to life.


    How has the Fintech Sector been Affected by the Coronavirus? How is it Going to Move Forward from this?

    The coronavirus pandemic had a huge impact on the fintech sector, but it must not be forgotten that the sector was almost born out of the last financial crisis. So fintech startups are born out of the need to work in a crisis mode. The nice thing now is that fintech startups have been helping other companies to survive the pandemic. One way they have been doing that is by providing loans. Lots of government loans are being distributed via fintech lenders. Post pandemic, the fintech startups have a chance to step up even more when the government support packages stop, and they can fill in the void by providing access to even more liquidity and thereby supporting the entire economy to recover.

    What is LiveFlow? Why has it Become so Popular?

    The fintech startup named Liveflow made a lot of rounds on the news. It raised a seed funding of a whopping 3.5 billion USD to automate financial data flows. This funding was sourced by the company called Moon Fire Ventures, and it also garnered the support of Y Combinator. Additionally, it has also received the backing of WndrCo. And Seedcamp. The functionality of LiveFlow depends on the ability of the user to sync the data from various accounting services, payment platforms, and banks into custom-made data reports.

    This fintech startup is very new and was only founded a year ago by Lassa Kalkar, who serves as the company’s current CEO. Anita Koimar, the COO of the company, and Evan O’ Brian, who is the CTO of the company at present, have played their substantial parts in founding this successful fintech startup. LiveFlow is just one of the many examples of a successful fintech startup that will gain immense prominence in the coming times in the global economy.

    The Challenges and Opportunities Provided by the new Fintech Startups:

    Our social media feeds have been driven by big data analytics, artificial intelligence, and machine learning, and those are also technologies used in finance very heavily. They are used for better decision-making; AI and machine learning are used for better credit scoring in a fintech startup.

    Conclusion:

    The future of fintech will continue to be a booming sector. It will grow, and it will also consolidate. There have been a lot of filter companies being founded over the last few years, and there will be more companies being acquired. Either fintech companies will acquire other fintech startups over banks or insurance companies. There will also be more acquisition activity from the tech giants as they move into this space more heavily. So there will be many more corporate mergers and corporate consolidations.

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