The views portrayed in Changing the Game blog are subject to change at any time based upon market or other conditions and are current as of August 25th, 2020. While all material is deemed to be reliable, accuracy and completeness cannot be guaranteed.
“It's hard to beat a person who never gives up.” Babe Ruth
The impacts of the global pandemic have been far reaching. Across every country and almost every industry, there have been declines in productivity and income, bringing challenges to the economy. The most immediate concern, of course, is managing through the current uncertainty.
As AFZA Capital works to navigate these tough times, it is important for us to remain positive, encourage the entrepreneurial market, and most importantly not give up. With social distancing regulations in place across most of the world, we have struggled not being able to travel. We feel that this pandemic deserves more than a strive to survive response and our team wants to focus on the opportunity at hand. The personal support that we have been committed to giving has simply been delayed.
Looking forward, we are strong believers that Covid-19 will be the catalyst to drive some solutions to a successful market adoption. The pandemic has demonstrated the importance of digital readiness, which allows business and life to continue as usual – as much as possible. Building the necessary infrastructure to support a digitized world and stay current in the latest technology will be essential for any entrepreneur or business. Many fintech’s, like the rest of the financial system, have gone into overdrive. The good news is that business is and will continue to find ways forward. The use of cash has become even more redundant. Personally, I was amazed on how advanced the cashless infrastructure was during my time in Kenya. In a lot of ways, the country is a leader within the space. It is tough for me not to get excited about the future of FinTechand the role it will play in all of our lives. FinTech companies have the opportunity to facilitate transactions with little or no contact and it is no question that this sector is growing significantly.
The reality is that people always find ways forward and achieve ways to succeed. It is just a matter of time!
FinTech on the Upward Trend
Robinhood announced a $200 million-dollar follow-on round. (Series G) 11.2 billion-dollar valuation
Stripe announced it has raised a $600 million-dollar round in May. (Series G)
American Express buys SoftBank-backed lender Kabbage
Stay focused and true to solving your problems.