Executive Summary: Betterment is a financial services company that offers investment, retirement, and cash management products to retail investors as well as companies. Betterment makes money via its Digital and Premium plans, receiving compensation from partner banks, fees on debit card transactions, referral fees by promoting insurance packages, as well as through Betterment for Business … Read more
Executive Summary: Venmo is a digital wallet that lets users transfer money between each other. Members can, furthermore, pay at selected merchants, either online (using the Pay With Venmo feature) or via the company’s debit card. Venmo makes money via merchant fees, Instant Transfers fees, interchange and withdrawal fees, spreads and fees on cryptocurrency transactions, … Read more
Executive Summary: Affirm is a FinTech company that issues point-of-sale loans to consumers. It works together with merchants to offer loans ranging from 3 to 12 months. Customers directly transact with Affirm via the company’s website or one of its mobile apps. Affirm makes money on the interest it charges for its consumer loans, interchange … Read more
You may not realize it, but the financial industry is currently undergoing one of its biggest shifts in recent memory. Just a little over a decade ago, over 50 percent of our purchases were still conducted using cash. Today, that number is below 20 percent. This is, in large part, driven by the advancements of … Read more
Executive Summary: Acorns is a mobile-first investment platform that allows users to invest their spare change. Members can also open a savings (both for adults and children) as well as an IRA account while saving money through the company’s cashback program. Acorns makes money via subscriptions, interchange fees, management fees, and interest earned on cash. … Read more
Executive Summary: Chime is an American-based neobank that offers various financial products through its mobile applications. As a digitally enabled platform, Chime does not operate any physical branches. The app comes with a physical Visa debit card. Chime makes money by charging so-called interchange fees for every transaction conducted with the card, interest earned on … Read more
Executive Summary Coinbase is a marketplace for buying and selling cryptocurrencies. Apart from trading, the company offers solutions that allow customers to store assets, use a Coinbase credit card, learn about cryptos, or allow your online store to accept crypto payments. The business model of Coinbase is centered around the fees it charges for trading … Read more
Executive Summary: Brex is a financial technology company that primarily offers a corporate credit card to early-stage companies. Furthermore, business owners can also create a bank account (called Brex Cash) and utilize the company’s various expense management tools for their business. Brex makes money through a monthly account subscription, interchange fees, referral fees from cashback … Read more
Executive Summary: Stripe is a SaaS company developing various products that allow businesses to accept and make payments over the Internet. The company’s full-stack offering ranges from backend cloud infrastructures over a customizable payments platform up to dedicated applications for tasks such as billing or reporting. The business model of Stripe is based on charging … Read more
Executive Summary: Monzo (formerly Mondo) is a neobank offering a multitude of financial products to both consumers and businesses alike. As a digitally enabled bank, Monzo does not operate any physical branches. Instead, all the company’s products are facilitated through its mobile apps, available on either iOS or Android. The business model of Monzo is … Read more