Can Fintech and Insuretech Unicorns Become Profitable?
This article is the ninth in my series on startups and technology; previous articles have showed that payments were the most profitable segment for startups. Square, TransferWise[i], Tencent and Ant Financial are reportedly profitable of which China’s WeChat Pay (Tencent) and AliPay (Ant) are the most famous of these services. Although the cases of Wirecard[ii] and Paytm[iii] (and losses for Klarna[iv]) should make us cautious, overall, the impact of digital payments seems positive, particularly in China. For the three months ending December 2019, China’s banks…