Navigating US Market Entry and Venture Expectations: Insights from Drew Glover of Fiat Growth
At Atlantic Fintech, our mission is to empower fintech innovators by connecting them with global networks, resources, and knowledge to accelerate growth and visibility. Recently, we had the privilege of hosting Drew Glover, Founding Partner of Fiat Growth and General Partner of Fiat Ventures, who shared invaluable insights on navigating the US market and venture capital expectations for fintech startups.
Building a Growth Ecosystem for Early-Stage Fintech
Glover co-founded Fiat Growth in 2019 with a vision to help fintech companies scale effectively by providing strategic marketing and growth expertise. The firm has supported over 200 companies, collectively generating billions in revenue. Unique to their model, Fiat Growth secures contractual rights to invest in client companies, effectively serving as a due diligence arm before making venture investments.
This innovative approach led to the launch of Fiat Ventures in 2021, a San Francisco-based venture fund that raised $25 million to invest in high-potential early-stage fintech startups, many of which were former Fiat Growth clients. Currently, Fiat Ventures is investing from its second fund, increasing check sizes to between $750,000 and $1.2 million, primarily targeting pre-seed and seed rounds.
Drew Glover, Founding Partner of Fiat Growth and General Partner of Fiat Ventures
The Power of Content and Community in Market Entry
Glover stressed the critical role of content creation and community building for startups aiming to enter and scale in the US market. Founders should cultivate a strong digital footprint by sharing insights on industry trends, market nuances, and their unique business learnings. This transparency helps investors understand the founder’s vision and thought leadership beyond the product itself. Consistent, thoughtful content can build credibility. Moreover, community and distribution are among the last defensible moats for fintech companies, making it essential to create spaces that attract both customers and talent.
Venture Capital Perspective: Investing in Teams Over Ideas
From a venture capital standpoint, at the pre-seed and seed stages, investors primarily back the founding team rather than the initial product idea. It’s common for startups to pivot one or two times before achieving product-market fit, so adaptability and resilience are key traits investors look for.
Understanding the Current Market Landscape
Glover underscored that the current US fintech market is turbulent. Public markets are volatile, and fintech remains fragmented, with competing trends between all-in-one platforms and specialized apps. There’s a shift back toward integrated platforms: Chime Bank is an example of a company evolving from a simple banking app to a broader financial services platform. Understanding these market dynamics is crucial for startups planning their go-to-market and fundraising strategies.
Final Thoughts
Strategic growth support, community engagement, and investor alignment are the three key pillars to keep in mind for fintech startups targeting the US market. If your fintech venture is considering expansion into the US or seeking to refine your go-to-market approach, connect with Atlantic Fintech so we can help provide you the guidance and resources necessary to scale successfully.
Missed the session with Fiat Growth on US market entry and venture expectations? Watch it here.
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