Raisin’s CEO and Co-Founder Dr. Tamaz Georgadze talked with AltFi about how the company is performing during the pandemic, U.S. expansion and the way forward for fintech; March was a challenging time for the company as people were just starting to go under lockdown and expanding their savings accounts was not top of mind; after the March bump in the road the company has seen their performance come back to pre crisis levels in part due to the low rates by central banks; their U.S. expansion has also seen some challenges with most of their team being in NY; their U.S. plans are currently focused on savings as a software service for banks, Georgadze tells AltFi, “The first step is clearly B2B and we are putting a lot of effort and doubling down on it, and then the offering will be supplemented further down the road with a B2C part as well.”; companies with a clear path to profitability will be the one’s that survive, “Investors are clearly looking for a clear path towards profitability and monetization, which puts providers under pressure to deliver and to avoid down rounds or to avoid flat rounds, or additional dilution. There is no money for free,” Georgadze toldAltFi. AltFi.
Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.