Fintech is the buzzword of the moment thanks to the innovative crossover industry’s outsized success and pioneering products. Thanks to a recent succession of billion dollar valuations, it looks like venture capital investments into financial technology start-ups will only increase. Last year they invested $44.4 billion into the fintech sector. Robinhood’s upcoming IPO will definitely add to the frenzy and Thoma Bravo’s $12.3 billion purchase of Proofpoint is the largest private equity cloud deal.

With the financial world being reimagined through a technology lens, it should be no surprise that many executives are searching specifically for fintech jobs. At Lancor, we are placing dozens of executives in Fintech assets and investing in those firms. 

So how do you break into fintech even if you have no direct experience? It turns out one of the things many fintech firms need right now are executives who have successfully taken companies public. Going public is back in vogue, and there are about 40 to 50 companies in the fintech space that are making plans for an IPO or going public with a SPAC (Special Purpose Acquisition Company). Those companies are actively looking for CFOs with that experience. In fact, Chief Financial Officers who have successfully navigated an IPO previously, are being offered impressive packages with quite a bit of equity. CFOs who have previous fintech experience are the most in demand, followed closely by CFOs who have done it with a different subsector of the market. 

Beyond the top level jobs, remember that every fintech business needs employees in finance, sales, human resources and business development. Many corporate roles are 100% transferable to a fintech asset.  These days, almost every company has a fintech angle, even those in consumer or industrial subsectors. As a result, there will be even more crossover than ever into the fintech universe.
Although many of the eye-popping headlines may fall under the fintech umbrella, the talent needs at these firms will often come from non-fintech assets.  If you are looking to find your way into this asset class, remember that these assets will often need the specific skills you have and to be able to highlight how you have been innovative and used technology to drive improvement, margin, efficiency and overall better decision making.  Fintech may be driving the overall market economy at the moment, but the foundation in this market needs a wide variety of talent to maintain stability.