The verticalization of neobanking continues 📲; FinTech Winter is a brilliant time for banks to increase acquisitions 💸; NFT startups are losing their shine ✨
FinTech is Eating the World, 22 November
Hey Everyone,
And happy Tuesday! Today’s issue is something you cannot miss as we’re looking at the continuous verticalization of neobanking (what others can learn & why it's a solid business model), FinTech Winter, which is a brilliant time for banks to increase acquisitions (banks, you cannot miss this + 3 bonus reads), and NFT startups that are losing their shine (what’s next?). Let’s jump straight into the fascinating stuff:
The verticalization of neobanking continues 📲
The news 🗞 The verticalization of neobanking continues as Daylight, the digital banking app built for America's LGBTQ+ community, has raised $15 million in a Series A funding round led by Anthemis Group. CMFG Ventures, Kapor Capital, Citi Ventures, and Gaingels joined the round for Daylight.
More on this 👉 Daylight plains to use the new capital to build the financial products and services to help queer people live their best lives, starting with a subscription plan called Daylight Grow. When the product officially launches in early 2023, Daylight Grow subscribers will receive:
A personalized family creation plan covering financial, legal, and logistical milestones tailored to their state and needs
Family planning Concierges to provide financial advice and logistical support
A family-building marketplace with vetted family attorney networks, and IVF and surrogacy clinics in their area
Members-only digital community platform and in-person financial and fertility education events
Access to family-building loans
The USP 🥊 Founded in 2020, Daylight is the first and only digital banking platform in the U.S. specifically designed for and by the LGBTQIA+ community. The company was founded by Rob Curtis, Billie Simmons, and Paul Barnes-Hoggett.
Let’s see why vertical neobank is a solid business model, what makes Daylight an interesting proposition + the takeaway 👇🏼