Burbidge: Fintech startups will sell to big tech, not banks
Eileen Burbage · a16z Podcast | Fintech from the World's Financial Capital -- London · Jan 2, 2019 · at 32:37
Eileen Burbage, venture capitalist at Passion Capital, discusses future acquisition opportunities for FinTech startups.
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“Your exit opportunities aside from staying independent and maybe going public or whatever is potentially on the buyout side. You may not be selling to a bank, you might be selling to Facebook, you might be selling to Amazon, you might be selling to Google as they try to expand what they offer”
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More from Eileen Burbage
Burbidge: London hosts more US bank headquarters than New York
“We have more American bank headquarters here in London than in New York.”
Burbidge: Over 90% of European banks rely on FIS or Fiserv
“It's at least here in Europe about something like 90%, more than that, of all of the banks are using one of two back-end suppliers, FIS or Fiserv, which prohibits them from being able to do things faster.”
Burbidge: The term "fintech" is a swipe at legacy banks
“It's almost like a diss, right? It's like the new, newer companies are thinking, oh, we're going to introduce technology into your sector, thereby implying that they never used technology to do it. So it's almost a bit of a swipe.”
Burbidge: London surpassed New York as global financial capital in 2015
“Which it just re-got again from New York this year.”