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 👇🏼
