TLDR:
At the #DavosBrainstorm2024 event, Rishi Khosla, the Co-founder and CEO of OakNorth, UK, spoke about the outlook for fintech in 2024. Despite a funding vacuum, many fintech companies have successfully raised substantial capital from existing investors. Khosla emphasized the importance of profitability, citing OakNorth’s strong and profitable business model as a key factor in securing continued investor funding. Overall, 2024 is expected to be a period of continuity in the ongoing evolution of the fintech industry.
Rishi Khosla, Co-founder and CEO of OakNorth, UK, spoke about the future of the fintech industry at the #DavosBrainstorm2024 event. Despite a funding vacuum, many fintech companies have been able to raise substantial capital, largely from existing investors.
Khosla stressed the significance of profitability in the fintech sector. He pointed to OakNorth’s strong and profitable business model as a key factor in securing continued investor funding. This highlights the importance of sustainable growth and profitability for fintech companies in order to attract investor interest.
Looking ahead to 2024, Khosla believes that the fintech industry will continue to evolve and adapt. He expects the industry to see more innovation, particularly in areas such as artificial intelligence and data analytics. He also predicts increased collaboration between fintech companies and traditional financial institutions.
Despite the challenges faced by the industry, Khosla remains optimistic about the future of fintech. He believes that the sector will continue to grow and play a significant role in shaping the financial landscape of the future.
In conclusion, 2024 is expected to be a period of continuity in the ongoing evolution of the fintech industry. While the sector may face funding challenges, there are still opportunities for fintech companies to raise capital and continue their growth. Profitability and sustainable business models will be crucial factors in attracting investor interest, and collaboration with traditional financial institutions is likely to increase.
