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Great piece from Andreessen on AI & FinTech. Key takeaways: Third Wave of Vertical SaaS (VSaaS): 🔉 The latest evolution of VSaaS combines Cloud + Fintech + AI. 🔉 AI enables VSaaS platforms to automate complex tasks, significantly increasing revenue per customer. AI's Impact on Revenue Growth: 📣 AI integration allows VSaaS companies to replace or augment labour in areas like sales, marketing, customer service, operations, and finance. 📣 This transformation can increase customer revenue by 2-10x. Previous Waves of VSaaS: 🌊 Wave 1: Cloud services brought industries online (e.g., Shopify, ServiceTitan). 🌊 Wave 2: Integration of fintech enabled new revenue streams (e.g., Toast generating 80% of revenue from embedded financial services). Case Study: Mindbody: 🧠 Initially offered online booking and scheduling. 🧠 Expanded to payroll and customer payment processing in Wave 2. 🧠 In Wave 3, AI could automate non-strategic tasks like marketing and finance, further boosting revenue potential. Future Outlook: ⚒ AI could allow VSaaS platforms to entirely replace labour and tooling in business operations. ⚒ The expansion driven by AI will open new markets and make previously inaccessible markets viable for VSaaS. Significant Market Opportunity: 💰 The total U.S. software spend ($313bn) is just 3% of total labour spend ($10.5 trillion), indicating vast growth potential as VSaaS shifts labour to software.

Tonight we co-hosted a brilliant event with Banff on “The Role of the Operating Partner”. It is *the* question we are most frequently asked by Execs and it was great to explore this with our excellent panelists: Kate Migliaro Cory Eaves Marija Periša Kegel Paddy Anderson and moderated by the fantastic Samantha Tortora. In a packed room near Union Square, NYC we debated the nuances of the role 🧍♀️, different Fund approaches 🪢 and how you get paid 💰. A huge thank you to the attendees and look forward to the next session. #privateequity #operatingpartner

Big things in UK Fintech - Pockit has acquired Monese The agreement is just days after HSBC wrote off its $35m investment into the struggling banking app Monese. Monese was a banking app focussing on immigrant populations, but suffered years of heavy losses, including more than £30m in 2022. 🧠 Only the leanest survive. Monese had spent a lot of money on building products and infrastructure but often lacked the revenue to justify that investment. Its platform was so comprehensive that it spun out XYB to serve other non-Monese customers, which have done quite well. 🧠 Pockit stayed lean. Pockit focused on its core card offering and customer segment, gradually increasing its user base and patiently building its business. This positioned it perfectly to acquire Monese's distressed assets, as well as customers, products, and capabilities it likes. 🧠 UK Fintech has taken a beating from 2016 to 2022, but its healing. Monzo is profitable, Revolut got a bank license, and now the stronger Fintechs are acquiring the struggling ones.

Round-Up of High Profile FinTech People moves from September 2024 ⬇ ⭕ This month, we've seen numerous fintech companies appointing new CEOs, often replacing long-tenured Founders: ➡ Joachim Müller is appointed CEO of wefox Holding AG, bringing experience in insurance, digital transformation, and leadership at Allianz. ➡ Sergi Herrero, former Meta executive, becomes CEO of Mangopay, replacing Romain Mazeries, with a focus on scaling the payments infrastructure.. ➡ Gilles Grapinet, CEO of Worldline, steps down after 11 years, with Marc-Henri Desportes named interim CEO during the company’s restructuring. ➡ Paul Noble is announced as CEO of Chetwood Financial, succeeding co-founder Andy Mielczarek, as the digital bank grows its savings proposition. ➡ Anthony Watson, founder of The Bank of London, steps down as CEO, transitioning to senior adviser, with Stephen Bell set to replace him. ➡ Joerg Schille becomes CEO of Zastrpay, leveraging his fintech expertise, including at PayPal, to drive the company's growth in eCash conversion. ⭕ Other exciting appointments: ➡ Paul Marriott-Clarke has joined Worldline to lead Merchant Services, succeeding Marc-Henri Desportes. ➡ Fouzi Husaini has been appointed Chief AI Officer at Marqeta. ➡ David Yates has been appointed Chairman and Stephen Frame is the new Head of Compliance and Risk at Tuum. ➡ Mitesh Popat has been appointed CFO at Flutterwave.

A big THANK YOU to everyone who came to our 1st Birthday, and now the Annual Arch party, last night. Testament to a cracking event, we took zero photos, but it was tremendous fun. #happybirthdaytous #fintech

Round-Up of High Profile FinTech People moves from July 2024 ⬇ ⭕ This month, we've seen a focus on senior hires across finance, risk and compliance (and in payments): ▶ Mobile payment leader Boku has named ex-NatWest exec Rob Whittick as its new CFO. Boku's CEO Stuart Neal says Rob brings "expertise from within a large and complex organisation, invaluable as we progress our own scaling journey”. ▶ PayU GPO has appointed Simona Covaliu as Chief Risk Officer. Covaliu, with 18 years of experience in businesses such as Booking .com, will aim to give greater transparency to the wider business to make informed decisions about product development. ▶ Thunes has hired Sigrid Hulsebosch as their new CFO. Hulsebosch was most recently CFO at Malvern Panalytical, a company in material and life sciences analytics, and also held the CFO position at Worldpay, where she supported the company’s growth and highly successful IPO. ▶ Brex named Sibongile Ngako as its new Chief Compliance Officer. Formerly at Affirm and American Express, Ngako brings strong compliance expertise to the expense management platform. Thunes, PayU, Brex, Boku

We are thrilled to announce that Mark Stroyan has joined the Board of Arch as our Chair. Formerly Spencer Stuart and now Manchester Square Partners, Mark's experience and guidance has already been of immense value. Thank you to everyone who helped us in this process and thank you to Mark for helping us catapult Arch forwards.... ( 🤸♀️ 🤸♀️ 🤸♀️ 🚀 🚀 🚀........) #delighted. Ben Erskine-Hill Paddy Anderson Georgie Pike Jack Parfitt Alice Brooks Jessie Gosnell

July has been a storming month - we have >> 👍 closed multiple Board and ExCo searches, 🏇 started projects with existing and new Clients / Funds 🤩onboarded our next superstar Archie - Jack Parfitt - welcome to the gang Jack, we are so happy to have you on board. Paddy Anderson Georgie Pike Ben Erskine-Hill Jessie Gosnell Alice Brooks #fintech #growth #whatateam

UK 🇬🇧 Fintech Plan for Goverment #fintech #ecosystem #invesment Source: Innovate Finance

Round-Up of High Profile FinTech People moves from June 2024 ⬇ ⭕ This month, we've seen a trend in commercial and strategy hires, with a focus on market expansion and enhancing customer experience: ➡ Mambu has hired Mark Geneste as Chief Revenue Officer. Geneste brings extensive experience from senior roles at Backbase, Wolters Kluwer, FactSet, Kempen Capital Management, Dun & Bradstreet, and Thomson Reuters. ➡ James Hollands has joined SmartStream Technologies as Chief Revenue Officer. Hollands joins SmartStream after serving as Interim CRO at Aryza. ➡ Nuvei has announced Jonathan Rambal as its Global Commercial Leader. With support from Advent International’s recent partnership, Rambal aims to expand Nuvei’s global reach. ➡ Broadridge Financial Solutions has appointed Roz Smith as the new Chief Operating Officer of Broadridge International. Smith will play a crucial role in expanding client relationships and footprint across financial markets. ➡ Lisa Scott has joined TrueLayer as its first Chief Strategy Officer. Scott, who previously served as CEO for Europe at Banked and developed PayPal’s UK credit product, will oversee TrueLayer’s expansion into new markets. Companies mentioned: Mambu, SmartStream Technologies, Nuvei, Broadridge, TrueLayer