Wharton FinTech Podcast

In this episode, Miguel Armaza sits down with Greg Krasnov , Founder & CEO of tonik, a digital bank in the Philippines with a mission to revolutionize the way money works in Southeast Asia. Tonik is backed by major industry investors, including Sequoia Capital, Point72 Ventures, Insignia Ventures, and Credence Partners. Greg is a serial entrepreneur at heart and launched his first business at the age of 18. Prior to starting tonik, he invested in, co-founded and chaired four other successful fintech startups through his Singapore-based fintech venture builder called FORUM. Greg is also a talented musician and, as a bonus for our listeners, we have included some of his work at the end of the interview. Greg Krasnov Greg is the Founder & CEO of tonik (www.tonikbank.com), the first digital neobank in the Philippines, and one of the few neobanks globally that is operating on the basis of its own bank license. tonik is backed by major international Venture Capital investors, including Sequoia Capital, Point72 Ventures, Insignia Ventures, and Credence Partners. Prior to starting tonik, Greg co-founded and chaired four other successful fintech startups in Asia: Credolab (www.credolab.com), FLOW (www.flow-tech.ai), Solarhome (www.solar-home.asia), and AsiaKredit (www.asiakredit.com). Greg invested into and supported these ventures through his Singapore-based fintech venture builder FORUM (www.forum-cap.com), in partnership with some of the leading Venture Capital funds in Southeast Asia. Prior to moving to Asia, Greg was the Founder/CEO of one of the top private equity-backed success stories in Consumer Lending in Eastern Europe, Platinum Bank (Ukraine), which was exited in 2013 generating over $150 million for the investors. Before that, Greg spent 10 years in Private Equity in Europe at Bank of America (London) and Innova Capital (Warsaw). A serial entrepreneur at heart, Greg’s launched his first business at the age of 18, earning his way through college in the USA through coding and PC repair. Global citizen, having lived in 8 countries across 3 continents, and done business in 40+ countries, currently residing in Singapore. Married, with one son. Lifelong hobbies include sailing and music. Considering balance to be key to a successful life, Greg had lived and cruised Southeast Asia aboard a sailboat for 2 years with his family, as well as recorded two albums, one of which is published on Spotify. Greg is a long-standing member of the global Young President’s Organization (www.ypo.org), and the Founder of its Kyiv Chapter. Fluent in English, Polish, and Russian. Graduate of Cambridge University (UK) and Arizona State University (USA).

In this episode, Miguel Armaza sits down with Sean Collins and Bill McNichols, Co-Founders of Goldfinch Partners, a Private Equity firm focused on enterprise technology companies that power digital transformation, with a focus on marketing, Commerce, Payments, FinTech, Supply Chain, and Human Capital. Prior to Goldfinch, Sean was Co-Founder and Chief Investment Officer of BCG Digital Ventures, where he oversaw investments globally into 75+ ventures and Bill was the Senior Vice President of Corporate and Business Development at Starbucks where he led over 40 transactions including more than $11 billion of acquisitions, divestitures and investments. Sean Collins Sean has over 20 years of experience investing, advising, operating, and building companies focused on digital transformation. Prior to Goldfinch, Sean was Co-Founder and Chief Investment Officer of BCG Digital Ventures, where he oversaw investments globally into 75+ ventures. Prior to BCG DV, he was SVP of E-commerce, Marketing, and Strategy at the Sports Authority where he helped engineer a turnaround that leveraged digital marketing and e-commerce to drive revenue growth. Previously, he was an Associate Partner at McKinsey & Company where he advised Retail, TMT, and Private Equity clients. Sean holds a BA from Whitman College in Economics & Music. Bill McNichols Bill has more than 20 years experience as an investor and operator. Prior to co-founding Goldfinch, Bill was SVP of Corporate and Business Development at Starbucks where he led over 40 transactions including more than $11 billion of acquisitions, divestitures and investments along with numerous commercial partnerships. Prior to Starbucks, Bill was a senior investment professional at Vulcan Capital, where his portfolio included DreamWorks, Oxygen Media, and TowerCo. Bill began his career at Gleacher & Co where he focused on advisory and investment work in the CPG, quick service restaurant and TMT sectors. Bill holds an MBA from Harvard Business School and a BA with high honors from Colgate University. Goldfinch Partners Founded in 2018, Goldfinch Partners invests in the enterprise technology companies that power digital transformation. Goldfinch thematically invests in the sectors and spaces they know deeply, including Marketing, Commerce, Payments, FinTech, Supply Chain, and Human Capital.

In this episode, Miguel Armaza sits down with Raj Ganguly, Co-founder and Managing Partner at B Capital Group, a global growth equity firm with $1.5 billion in assets under management, focused on investing in B2B startups across four technology-enabled verticals, including Fintech and Insuretech. In this interview, we talked about the story behind B Capital, their investing approach, his outlook on fintech around the world, the road ahead, and the challenges and opportunities of fundraising and investing over zoom. Raj Ganguly Raj Ganguly is a co-founder and Managing Partner at B Capital Group. He currently serves on the boards of Winmore, Journera, Atomwise, and Evidation Health. In addition, Raj is a Senior Advisor to the Boston Consulting Group. Previously, Raj was a Managing Partner of Velos Partners, a global venture growth firm with offices in Los Angeles, Singapore, and London. Before his career in venture capital, Raj spent six years at Bain Capital, conducting operational due diligence and driving growth and operational improvements in portfolio companies across the United States and Asia. Raj earned an MBA from Harvard Business School, and summa cum laude honors as a BSE and BAS from the University of Pennsylvania’s Wharton School and School of Engineering and Applied Science, where he graduated from the Management & Technology Program as a Benjamin Franklin Scholar and Joseph Wharton Scholar. B Capital Group B Capital Group is a growth equity firm focused on investing in B2B startups across four technology-enabled verticals: Enterprise technology and Consumer enablement, Fintech and Insurtech, Transportation and Industrial and HealthcareTech and Bio IT.

In our latest episode of the Wharton Fintech Podcast, Anchit Gupta (WG’21) is joined by Elliott Limb, Chief Customer Officer of Mambu. Founded in 2011, Mambu is a cloud-native software-as-a-service provider powering banking through open API-enabled architectures. Mambu helps financial institutions of all sizes to rapidly design, launch, service, and scale their banking and lending portfolios. Mambu has been featured in the CBInsights list of 250 world’s most promising fintech companies. Prior to Mambu, Elliott held several senior positions in the banking and Fintech industry. He has been named one of the most influential people in fintech as an entrepreneur, board member, and investor across multiple sectors. At Mambu, Elliott is focused on a customer-centric approach to doing business, growing revenue, and helping banks build flexible and scalable solutions. In this interview, Elliott shares: - His background and journey to Mambu - The history of Mambu and its service offerings - How Mambu helps financial institutions develop an edge over their competitors and launch rapidly in new markets - The shift in mindset and rapid adoption of cloud-based architecture in the banking industry - The challenges of building a common and flexible service for different types of FIs - Elliott’s opinion on the future of large incumbent banks with the rise of digital-first neobanks

In this episode, Miguel Armaza sits down with Erika Lucas, Co-Founder of StitchCrew and VEST. StitchCrew, in partnership with the NBA team, the Oklahoma City Thunder, runs an accelerator program to connect entrepreneurs with the capital, resources and networks they need to launch and scale businesses. VEST is a curated network of highly influential women across business and civic sectors working together to dismantle the barriers precluding more women from reaching positions of power and influence. Prior to launching her own venture, Erika was a Private Equity Partner and led the Global Division at the Oklahoma Department of Commerce. She serves on multiple private and public boards, including the board of directors of ARVEST Bank.

In this podcast, Miguel Armaza is joined by David Green, Chief Product Officer at Earnest, where he oversees Product Management, Product Design, User Research, Data, and Analytics. Earnest is a company tackling the $1.6 trillion student debt balance in the US by helping graduates take control of their financial wellness and empower them with the capital they need to live better lives. Earnest has raised over $120 million from investors including Maveron, Accomplice, New York Life Insurance, and many more. Prior to his current role, David founded Poplar Finance, which sought to eliminate the need for large security deposits in residential rentals. He received his MBA from The Wharton School and a B.A. from George Washington University. David Green David Green is an accomplished operator and Chief Product Officer at Earnest where he oversees Product Management, Product Design, User Research, Data, and Analytics. Known for constantly seeking out new challenges and driving better outcomes by continuously improving his skill set, David loves to build companies and products he believes in. Prior to his role with Earnest today, he founded a fintech startup, Poplar Finance, which sought to eliminate the need for large security deposits in residential rentals. During his first stint at Earnest he helped scale the company from 20 to 200+ employees and as the Vice President of Business Operations at the American Mortgage Consultants, Inc. he managed large operations teams of 300+ remote employees. He received his MBA from The Wharton School and a B.A. from George Washington University. When he’s not founding startups or training teams, David can be found playing outside, either mountaineering, hiking, trail running, or camping. He is an avid fitness fiend, also looking for new songs and albums he can play while he takes in the sights and sounds of Mother Nature. About Earnest Earnest is a fintech company that’s tackling the $1.6 trillion student debt balance in the US. One in five adults is affected by student loan debt – Earnest is on a mission to help graduates take control of their financial wellness and empower them with the capital they need to live better lives. Earnest uses technology, data and design to build better loan products that help customers. The company currently has over 124k clients and has refinanced over $10.2 billion in student loans. In addition to student loan refinancing, Earnest introduced its own private student loan product in 2019.

Miguel Armaza is sits down with Nima Ghamsari, CEO and Co-Founder of Blend, a company transforming the $40+ trillion consumer lending industry, by delivering speed and efficiency to mortgage lenders to navigate a complex industry. Blend is a newly minted unicorn that has raised almost $400 million in equity from some of the top VCs in the industry, including Canapi Ventures. Temasek, General Atlantic, 8VC, Greylock, Peter Thiel, and many more! Prior to Blend, Nima was an early employee at Palantir Technologies, where he co-founded its commercial group focused on major data challenges for the financial sector. Nima is also a former semi-professional Poker player and talked to us about some of the parallels between entrepreneurship and the game of Poker. Nima Ghamsari Nima Ghamsari is the CEO and co-founder of Blend, a Silicon Valley technology company transforming the $40+ trillion consumer lending industry. Blend’s cloud-based technology, for mortgages and consumer banking, delivers speed and efficiency to lenders so they can serve the modern borrower and safely navigate the industry’s changing rules and regulations. Prior to Blend, Nima was an early employee at Palantir Technologies, where he co-founded its commercial group solving major data challenges for the financial sector. After the 2008 financial crisis, Nima worked directly with major banks and agencies to develop and implement software enabling underwater borrowers to avoid foreclosures while saving financial institutions billions of dollars. About Blend Blend helps lenders streamline the customer journey for any banking product from application to close. Its Digital Lending Platform is used by Wells Fargo, U.S. Bank, and over 250 other leading financial institutions to acquire more customers, increase productivity, and deepen customer relationships. The company enables customers to process more than $3.5 billion in mortgages and consumer loans per day, helping millions of consumers get into homes and gain access to the capital they need to lead better lives. To learn more, visit blend.com.

Miguel Armaza interviews Brian Barnes, Founder and CEO of M1 Finance, a money management platform that combines investing, borrowing, and banking into a single app. Brian launched M1 in 2015 after he felt frustrated with the tools available to manage his own money and has since grown the company into a platform that manages more than $2 billion dollars on behalf of 200k users with 75 employees. M1 has also raised over $55 million dollars in equity from backers including Clocktower Technology Ventures, Left Lane Capital, Chicago Ventures, and many more. Brian Barnes Brian Barnes is the Founder and CEO of M1 Finance. He started M1 in mid-2015 after frustrations with the tools available to manage his own money and has grown the company from an idea to a platform that manages more than $2B. Prior to M1, Brian worked as an equity researcher at a hedge fund and as a management consultant. He has a BA in Economics from Stanford University. M1 Finance M1 Finance is a money management platform the combines the best of investing, borrowing, and banking into one easy to use app. With M1, users can automatically invest in a customizable portfolio for free, borrow against your portfolio for rates as low as 2%, and use M1 as your primary bank with an industry leading 1% APY and 1% cash back on debit card purchases. M1 manages more than $2B on behalf of 200,000 users. The company is headquartered in Chicago and has 75 employees.

Tomi Davies. A systems Analyst turned Tech Strategy Advisor, Public Speaker and Angel Investor, Tomi Davies is Collaborator-in-Chief at TechnoVision, co-founder of the Lagos Angel Network and President of the African Business Angel Network. He has been described by Techcrunch as Africa’s Top Angel investor. As a thought leader with increasing knowledge gained from nurturing entrepreneurs in a growing portfolio of tech-enabled early-stage business ventures originating from Africa, Tomi’s personal mission is “to help drive Africa’s development by supporting young entrepreneurs using innovation and technology to create social impact and economic value.”

We hear a lot about ESG investing, Catholicism-based investing, and more in the wealth & asset management world. But what about Earth’s 2 billion Muslims? In a religion that disallows interest and has plenty of restrictions (alcohol, etc.), finding shariah-compliant investments is not easy. Enter Wahed, a halal investment platform for everyday Muslims. We sat down with Kareem Tabbaa, Chief Product Officer of Wahed to learn more about this product and their $25M fundraise from Saudi Aramco. Wahed allows everyday Muslims to build wealth by investing in companies in compliance with their faith. Wahed’s portfolios include a combination of Wahed-made ETFs, Gold, Cash, and Sukuks, which are a shariah-compliant instrument similar to debt that pays revenue share instead of interest. In today’s episode, Kareem discusses: - His background - The unexpected role Apple played in starting Wahed - What their investment portfolios look like - Their first customers and initial growth strategy - The massive, underserved Muslim market - And much more Kareem joined Wahed in 2017 as Chief Growth Officer and moved to Chief Product Officer in 2018. Before Wahed, Kareem worked in London and his home country of Jordan at companies such as HeadStart Advisers, Diversified Retail Trading, and Goldman Sachs. Kareem graduated from London’s Cass Business School with 1st-Class Honors where he wrote his dissertation on the effect of sovereign credit rating changes on the local stock markets in the MENA region. For more insights and analysis from FinTech leaders, follow us below: Medium: https://medium.com/wharton-fintech WFT Twitter: https://twitter.com/whartonfintech Ryan's Twitter: https://twitter.com/RyanZauk LinkedIn: https://www.linkedin.com/company/wharton-fintech-club/