On this episode of the Traction podcast, host Lloyed Lobo of Boast.AI welcomes Matt Harris, Partner at Bain Capital Ventures.

Want the key to unlocking the next unicorn? Today, more and more companies are embedding finance (payments, lending, insurance, etc.) into their products — not only to drive growth and revenue but also to stay competitive.

Starbucks has the second most used payments application in the United States and they’re not a bank. Analysts estimate Shopify’s payments revenue to grow faster than their Subscription & Services revenue stream. Toast, a $2.7B restaurant management platform, launched Toast Capital in 2019 to provide its customer base with access to fast, simple, and flexible funding.

In this session, Matt discusses the key components of the FinTech ecosystem and how to embed FinTech into your products to drive exponential growth.

Specifically, Matt covers:

1:34 - How he initially got into investing

6:07 - What does FinTech mean

10:01 - Why every company will become a FinTech company and examples of embedding FinTech into products

34:36 - The additional value of embedded lending

44:50 - How does the rise of crypto and decentralized finance play into FinTech?

51:41 - How should founders think about fundraising and valuations in this environment?

59:54 - One piece of unconventional advice founders ignore but shouldn't

Learn more at https://tractionconf.io

Connect with Matt Harris: https://www.linkedin.com/in/mattcharris/

Learn more about Bain Capital Ventures at https://www.baincapitalventures.com/

The Fourth Wave Part 1: https://www.forbes.com/sites/matthewharris/2019/11/19/fintech-the-fourth-platform-part-one

The Fourth Platform Part 2: https://www.forbes.com/sites/matthewharris/2019/11/22/fintech-the-fourth-platformpart-two

This episode is brought to you by:

Each year the U.S. and Canadian governments provide more than $20 billion in R&D tax credits and innovation incentives to fund businesses, but the application process is cumbersome, prone to costly audits, and receiving the money can take as long as 16 months. Boast automates this process enabling companies to get more money faster without the paperwork and audit risk. We don’t get paid until you do! Find out if you qualify today at https://Boast.AI.

Launch Academy is one of the top global tech hubs for international entrepreneurs and a designated organization for Canada's Startup Visa. Since 2012, Launch has worked with more than 6000 entrepreneurs from over 100 countries, of which 300 have grown their startups to Seed and Series A stage and raised over $2 Billion in funding. To learn more about Launch's programs or the Canadian Startup Visa visit https://LaunchAcademy.ca

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Embedding Fintech Into Your Products to Drive Growth with Matt Harris, Bain Capital Ventures

Traction Podcast

Embedding Fintech Into Your Products to Drive Growth with Matt Harris, Bain Capital Ventures