Tristan Pelloux: 1-0-1 on Scaling FinTechs
On this episode of the Scouting For Growth podcast, Sabine VdL talks to Tristan Pelloux, An expert who is passionate about FinTech and Innovation. After several years in Corporate Strategy and Finance at Virgin Money, Tristan decided to launch Strategwhy, an independent management consultancy. He is also the Chief Pencil Officer at Fintech Review, online media on the Fintech industry.
KEY TAKEAWAYS
- I was producing lots of insights for Virgin Money (where I worked in corporate finance) trying to figure out what was going on in that world, the trends, innovations. I thought it was a shame that the audience was so small within the company, so I set up the media site in 2020 to spread my thoughts about what was going on. Itâs evolved from a personal site where I wrote blogs to more of a platform with other people sharing FinTech insights and interviews with business leaders and entrepreneurs in the field. This is my passion work and I do consulting, which is how I pay the rent, where I work with companies across Europe and help them with their strategy and helping them to scale to reach a new level.
- I am Mr Organisation, I like to make lists, do tests, I like plans. I tell my clients weâre going to meet twice a week, this is the agenda of the meeting, this is what weâre going to do this week, this is what weâre going to do next week. Itâs about maintaining order. This doesnât mean you canât be inventive or innovative, you just need to channel things and do it in a very planned way, otherwise your energy is going in too many directions and youâre losing time. If everybody is aligned, they know whatâs going on, there is a clear plan, and you divide the tasks between people then you achieve much more.
- Things move faster and can evolve faster in a startup than in a corporate business where youâve got access to a lot of experts and resources. Itâs super interesting to see how you can do the same project in two different environments; you need much more adaptability in a startup and the goals are much more about growth, with corporates there are more structures and restraints where everybody needs to be on the page before you can move forward.
- One of the challenges in FinTech is there are too many companies going after the same customers and thereâs not enough money to be made out of retail customers. Itâs not enough to be making money out of interchange. This can be great for the customer to have so much choice, but itâs also confusing because there are so many players and itâs fragmented. Lots of FinTechâs are battling to become the âsuper appâ, and weâll see which will emerge. Still, so many of them donât have good business models and are loss-making, it will be challenging for them with less funding available. But there are opportunities in the B2B space.
BEST MOMENTS
âThe environment is very different now than it was two years ago. It wasnât easy to sell but funding was easier, and it was easier to scale. The challenges are the same for everybody from startups to big businesses.â
âWhatâs important for businesses right now is strategic focus and execution â instead of going in many directions at the same time, do one thing very well. Thatâs how Iâm helping businesses.â
âThe next two years are going to be difficult for FinTechs because rounds will be down, some others will get no funding at all. There may be consolidation, so FinTechs in a good position will be able to scale faster through inorganic growth.â
âSome services that were not economically viable to provide to the mass market now are through the use of technology. So, at which point are you going to provide some sort of personalised service when you can do it cheaply?â
ABOUT THE GUEST
After over five years in corporate strategy and finance at Virgin Money UK in London, Tristan Pelloux launched Strategwhy, an independent management consulting company, to provide independent guidance and advice to business leaders and founders of startup and scaleup companies across the world.
https://fintechreview.net/
ABOUT THE HOST
There are over 140,000 FinTech ventures out there, including FinTechs, InsurTechs, HealthTechs, and WealthTechs. And the number keeps on changing every month. One statistic remains the same: 25% of these ventures have received investment and support from the financing world. 75% of these businesses still seek financing support from institutional and corporate investors alongside value-creating commercial collaboration opportunities with Global Fortune 500.
Through this podcast series, I would like to demystify the world of corporate venturing, including how corporations collaborate with growth ventures, how venture capitalists and corporate venture capitalists make investment and collaboration choices in ventures and give tech founders and entrepreneurs, the strategies, tactics, tools, and techniques to build, grow and scale their business by understanding how those with financing power think. So, listen in, share and comment as you see fit.
Twitter: SabineVdL
LinkedIn: Sabine VanderLinden
Instagram: sabinevdLofficial
Facebook: SabineVdLOfficial
TikTok: sabinevdlofficial
Email: [email protected]
Website: www.sabinevdl.com