Fintech Layer Cake Vertical SaaS & Fintech Opportunities, Founder Lessons, and More with Matt Brown
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Jun 5, 2025 
In a captivating discussion, Matt Brown, an early-stage investor at Matrix Partners and former product leader at Afterpay, explores the potential of vertical SaaS and embedded fintech. He shares his unique insights on the importance of customer feedback and strategic integrity in product development. Matt dives into the dynamics of founder-investor relationships and the future of buy now, pay later services, shedding light on evolving distribution strategies in fintech. His experiences as a founder offer invaluable lessons for anyone navigating this complex landscape.
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Firing a Big Customer Was Key
- Matt Brown shared a story about firing a big customer whose needs were too bespoke.
- This decision helped avoid being trapped in a narrow product path and focused on scalable customer feedback.
Vertical Software Defined
- Vertical software targets very specific business types with customized workflows.
- It bundles multiple products and monetization models into one integrated platform.
Embedded Fintech Still Early
- Embedded fintech in vertical software is still very early despite high transaction volumes.
- Most customers use payroll, banking, and credit, but these are rarely embedded yet in vertical software.