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#Fintech Investing with Travis Skelly @FinTechCollective

Posted on February 4th, 2016

Mobil Payments #MobilePayNYC

2/4/2016 @EntrepreneursRoundtableAccelerator, 500 Seventh Ave, NY

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Travis @FintechCollective was interviewed by Derek Webster.

Travis talked enthusiastically about fintech startups, which he grouped into

  1. #Banking – many are underbanked (challenger banks in UK)
  2. #Lending – lendingClub, OnDeck, … what infrastructure do is needed to grow further
  3. #CapitalMarkets – blockChain, cybercurrency,…
  4. #Insurance – area with the least development so far
  5. #WealthManagement – how to empower the investment advisors. (not enthusiastic about roboadvisors)
  6. #Payments

Hi recent investments include

  1. Inbroker – aims to disrupt the insurance industry by providing a place for companies to evaluate offers from different provider of property/casualty insurance.
  2. Mines – use telecom data to underwrite to Nigerians. (90% of Nigerians don’t have access to credit)

Their portfolio includes

Slide – Focused on better monetization of gift cards. There are 130B gift cards issued each year of which 25% are never redeemed. You upload your gift cards to a wallet on the web and can transfer you balance to other cards or your bank account.

American Prison Data Systems – They provide Android tablets to prison inmates with the goal of reducing recidivism rates. Inmates use these tablets to improve their job skills as well as improve the factors that keep people out of prison in the future.

Their VC firm is excited about

  1. Concepts built on older businesses
  2. As consumer – likes smarter interfaces. Smart contracts (such as Uber)

The area he is least enthusiastic about is payment companies: hard to make money. Area is also dominated by entrenched incumbents.

His business is based on finding good people and providing seed and series A funding. They look for

  1. Domain expertise in finance
  2. Previous entrepreneurs
  3. Have relationship with the technical people and a track record of working together

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