DealMakers Tom Greenwood On Selling His Fintech Company For $200 Million And Now Raising $83.5 Million To Send Money Anywhere In Real Time
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Oct 10, 2023 Tom Greenwood, an entrepreneur from New Zealand and Australia, shares his journey from ANZ Bank to starting his fintech company Volt. He discusses the transformative nature of embedded finance, scaling challenges, and the potential integration of stable coins and CBDs. Tom also reflects on the past and offers advice to his younger self, emphasizing the importance of surrounding oneself with smart people and staying open-minded in the payments industry.
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Early Embedded Finance
- Tom Greenwood recognized the potential of embedded finance before "fintech" was a term.
- Combining payment APIs, FX APIs, and bank accounts created a transformative payments bank.
Inflight Inspiration
- The idea for iFX's transformative product came during a flight from Dubai to London.
- A late-night Skype call sparked the concept of combining payments, FX, and banking.
Product Strategy
- Start with a simple idea and explore its feasibility and potential impact.
- Focus on the problem being solved and the target audience.