Iana Dimitrova: It has been sobering and refreshing. For many fintech companies, this is their first experience of a restrained venture capitalist [VC] environment. Investors are no longer tripping over themselves to write large cheques for unprofitable start-ups. That has quickly piled a lot of pressure on businesses with high burn rates and short cash runways.
While that’s been challenging for many business leaders, it was also necessary. All participants in the ecosystem – from executives to investors, employees and customers – needed to redefine what success looks like.
