How to Scale Your FinTech Startup? 8 useful tips

Scaling FinTech startups is a huge need of today’s financial market. So let’s talked about some of the biggest challenges that FinTech startups face and how FinTech startups can solve them and scale up to reach the next level of growth.

1. Lock in the best advisors.

  • At least have a board, advisor or mentor with banking experience (e.g. the chairman of a major bank) — they can open doors and provide credibility.

2. If you want to scale, sell to banks or get funding, put together a risk & compliance framework.

  • Get consultancy or accounting firms on board — they’re good (but expensive) in structuring a risk and compliance framework.

3. Scout out the regulatory landscape.

  • Regulators are now more open and progressive.

4. Finance is a highly networked and closed system, so build relationships.

  • Understand how banks work, find out who’s the champion within the bank. Know what they want and how you can help them save money.

5. Memorandum of Understanding, Letter of Intent, Proof of Concept vicious cycle

  • Never agree on a proof of concept that is not paid for. If you’re good, they would value your concept.

6. Get the right investors.

  • In the US and Europe, there are good angels, VCs and funds that understand finance better. Unfortunately, they’re not available in Asia as the skill sets required here to invest in FinTech are very different.

7. Have enough runway.

  • The investment landscape in FinTech will change.

8. Find local partners!

  • US and UK companies have started coming to Asia — they are always looking for local partners.

So be fast and goal-driving — and you will succeed.

JCash co-founder, fintech/blockchain expert. Interested in innovations in digital payments and AI technologies.