Here's why the coronavirus could cause a fintech slowdown:
, the stock market slump could be a catalyst for lower valuations and a funding pullback.
Companies whose growth relies on heavy marketing spend are also in a dangerous spot, says Dan Rosenbaum, a partner at consulting firm Oliver Wyman and former executive at the regional Bank of the West. Marketing is often the first budget that gets cut in a recession, so growth for such companies could slow abruptly. Chime spent tens of millions of dollars on marketing last year, according to media research firm Kantar.
Stuart Sopp, who spent 15 years as a Wall Street trader before founding digital bank Current five years ago, agrees that earlier-stage companies could feel a crunch.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
These cleaners kill coronavirus: Lysol, Clorox, Purell products make EPA's disinfectants listKilling coronavirus: U.S. Environmental Protection Agency has released a list of disinfectants and wipes to protect against spread of the coronavirus.
Les mer »
Coronavirus Disease 2019 (COVID-19)Coronavirus disease 2019 (COVID-19) is a virus (more specifically, a coronavirus) identified as the cause of an outbreak of respiratory illness first detected in Wuhan, China.
Les mer »
The Latest: Girl, 12, is Malta's first coronavirus patientBEIJING (AP) — The Latest on the coronavirus outbreak (all times local): 6:45 p.m. Malta has confirmed its first coronavirus case, a 12-year-old girl of Italian origin who lives in the...
Les mer »
The Latest: Girl, 12, is Malta's first coronavirus patientBEIJING (AP) — The Latest on the coronavirus outbreak (all times local): 6:45 p.m. Malta has confirmed its first coronavirus case, a 12-year-old girl of Italian origin who lives in the...
Les mer »
The Latest: Iran: Over 1,000 new cases, 21 more deathsIran says 21 more people have died from the coronavirus, bringing the country's death toll to 145. More than 1,000 infections were also confirmed overnight totaling some 5,823 cases nationwide.
Les mer »