Financing in fintech, a woman’s perspective

Every year, International Women’s Day gives us an opportunity to reflect on the great strides women have made in various industries around the world, and to recognize the increasing inclusiveness of modern business, while also providing a moment to analyze areas where improvements still need to be made. can be done . As a female founder working in Fintech, it’s a day close to my heart and an occasion that demands more attention than it gets.

But in recent times, it often feels like the event is only used as an opportunity to chastise the lack of diversity across different sectors, and this sometimes means overlooking the amazing work of women in these fields, who are changing the world we live in. the better. Right now, we need to give these people all the support they can get, especially as they continue to battle difficult economic headwinds.

Difficult for everyone

The truth is that business is currently difficult for almost everyone, regardless of gender. Nowhere is this more evident than in the struggle to secure funding. Over the past year, we have all watched as geopolitical tensions, continued fallout from the pandemic and supply chain disruptions have created uncertainty and instability in the global economy. This has led to many investors becoming less accommodating with their capital.

Now all entrepreneurs are required to go above and beyond to receive the investment they desperately need. Certainly, there are strong arguments that this task is more difficult for women, who are massively underrepresented in the venture capital world, but what is provable beyond any doubt is that it is not easy for anyone right now. Fortunately, I think there are steps we can all take to ease the process.

Adapts to the times

Ever since I moved to the UK in 2006, I knew my dream was to build a business that improved the lives of others. My company, Frost, was born out of this ambition. Together with my co-founder, Pawel Oltuszyk, we have sought to create a company that addresses the long-standing pain points that everyday customers feel when they are looking to find the best prices on the services they need most.

A year ago, that alone would probably have been enough to secure investment, but the world of venture capital is different now. More than ever, startups require strong business models that can be monetized immediately and must ensure that the valuations they seek stand up to investor scrutiny. If you’re like me and working through this moment in your business journey, you’ll know that while challenging, it’s an achievable task.

Finding the right approach

With the right approach, it is still possible to build businesses that attract strong interest from venture capital firms. Put strong business fundamentals at the heart of what you do, while not forgetting the importance of a wider purpose. It’s important to remember that investors will always keep an eye on your bottom line, but having a broader purpose still matters a lot and can help set your business apart from the rest of the pack.

Another key is to surround yourself with like-minded individuals, and to work with a team that is committed to the same goal and willing to be honest about their assessment of your business’s offerings in light of changing market conditions. This atmosphere helps breed businesses that can pass muster with venture capital firms and stand up to the rigors of investors when assessing the feasibility of investments.

Build your own network

I think this last point is incredibly important for women, especially in fields where they are underrepresented. Running a business can be incredibly lonely at the best of times, but when you’re working in a sector that looks very different to you, it becomes even more difficult. Having an amazing team ready to support you and help you when you struggle can make all the difference.

The rise of social media and simpler forms of communication have made it possible for business leaders to create their own networks. For women who have historically been barred from industries dominated by a “boys club”, this is of utmost importance. If you feel there isn’t an audience to pitch your product to, create one for yourself by connecting with as many people as possible, either online or through networking events.

To preserve your passion

With these guiding principles, founders of all genders can achieve great things. Although we are clearly in a downturn, the cream will still rise to the top and attract investment. Specifically, I think there’s a significant appetite right now for new female-led startups, and we’re seeing a lot of companies come to the fore that fit this description. At the end of the day, a good idea is a good idea regardless of who it comes from.

Above all else, it’s important to be passionate about the business you’re building, and to make sure that passion is evident to everyone who interacts with your business, whether it’s investors or your users. That’s what we’ve been able to do with Frost, and it’s made a huge difference as we’ve worked through a very successful funding round. It is this experience that gives me confidence that the future for women in Fintech is still bright.

Edyta Sliwinska is co-founder and CMO at Frost.