The entire fintech industry is not in distress

Image credit: Vicki Been / EyeEm

With so many fintechs laying off employees, it can be easy to assume that the entire industry is in trouble.

But that is not the case. In fact, some companies find opportunities in the masses of layoffs.

Rex Salisbury, founder of Cambrian Ventures and formerly of the fintech investment team at Andreessen Horowitz (a16z), believes that early fintech startups, particularly at the pre-seed and seed stages, “are the big winners in the current job market and are attracting top talent that would have been unattainable 6 months ago. The buzz and momentum for these companies is unlike anything I’ve seen before, it’s incredible.”

And Lee Hower, a co-founder and partner at NextView Ventures who was on the founding team of LinkedIn, believes that despite the downturn, fintechs are still “booming”.

“I was an early employee at PayPal, and we grew during the dotcom bust and were a rare IPO in 2002,” he told TechCrunch. “The brightest stars in fintech today are similarly successful despite the macro backdrop because they are solving real problems that consumers, businesses and financial institutions face every day.”

Here are some fintech companies that are hiring. Note that this is obviously not an exhaustive list and that we will follow more in future editions of our fintech newsletter, The Interchange. (Note, it comes out every Sunday and it’s FREE).

• Start-up of insurance infrastructure Lulawhich has raised $18 million in funding from the likes of NextView Ventures, Founders Fund and Khosla Ventures, employs 10 across engineering, product and sales.
• Another infrastructure startup, Unit, is also hiring — with nearly a dozen open roles across the U.S. and Israel. The company last year raised a $100 million Series C funding round led by Insight Partners at a valuation of $1.2 billion.
• Arraya New York-based utility that provides consumers with financial, identity and privacy tools, is hiring 8 engineers for its new product, Hello Privacy. The company has raised 67 million dollars from Battery Ventures, NextView Ventures and General Catalyst.
• Trading app Public.com employs 14 across engineering, support, operations, marketing, product and design. The company last raised in 2021 – a $220 million Series D funding round at a $1.2 billion valuation.
• Secure storagean emergency savings fintech, is hiring for at least over five roles over the next few months across sales and operations.
• Set point hiring 5 roles within sales, finance, operations and engineering. The company recently raised $43 million led by Andreesen Horowitz
• OatFi, a B2B BNPL which recently raised an $8 million seed from QED and Rex Salisbury from Cambrian, hiring for four roles.

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