Investors Talk Fintech Winners and Losers from the Crisis

Business Insider reached out to Bail Capital Ventures, DRW Venture Capital, Edison Partners, Jump Capital, RBC, and Rosenblatt Securities to discuss potential fintech winners and losers from the crisis; trading related companies have come out as an early winner, as Peter Johnson of Jump Capital says trading has become the new sports; companies who offer a nice to have product will struggle in a big way, only essential offerings will thrive; online lenders will clearly struggle, as will digital banks since customers tend to go to the safety of traditional banks in times of crisis and uncertainty; fraud detection companies will see a big boost as the FBI put out an alert recently that fraud schemes are increasing during the pandemic; Merritt Hummer of Bain Capital Ventures says a company like Affirm should see a big boost with more people buying online but at the same time their buy now, pay later product could be extending credit to risky borrowers who just lost their job. Business Insider

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