Will software for CFOs create a bright spot in the battered fintech market?

comedown from The venture capital boom of 2021 has jolted much of the startup world, but the scarcity of capital has been on display sharply in one specific place: fintech.

CB Visions data indicate that after peaking in 2021, funding for fintech startups worldwide fell 46% to $75.2 billion from $139.8 billion a year earlier. Early 2023 data is still pouring in, but we haven’t heard from anyone yet that fintech venture funding is going to rebound. Yes, bar $6.5 billion increase It might skew the numbers somewhat, but let’s not forget that it’s also a round down.

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But financial technology is wide ranging, and includes everything from ringing And alpaca to brix. In fact, it’s almost too broad a range to be of much use. You have to dig deeper and be more specific to get a clearer picture of its evolving trends.

This brings us to CFOs, everyone’s favorite person on the company’s executive team: the refuser, demander of receipts, and rotten budgeter of budgets.

Call them what you will, CFOs are an important part of a startup’s development. We don’t pay enough attention to CEOs here at TechCrunch, since we focus more on founders, but in the past year, CFOs have caught our eye: TechCrunch reported on a flurry of CFO volatility In companies that were on the IPO path before the market blocked this path or stopped trading.

That’s the bad news for CFOs: Changing valuations in many categories of startups have taken IPOs off the table, and they’re now tasked with maximizing liquidity in a market where capital has dried up faster than a pool in Death Valley.

But there’s good news, too: plenty of fintech startups are building tools for CFOs and their larger offices, often called the “CFO Stack.”

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