FinTechs have always focused on improving traditional business models formulated by incumbents and creating original, new business models for the financial industry. Once the market approves the business models, FinTech startups look for investments to expand them. Startups that have consistently performed well have received higher investments, leading to higher valuations. Successful FinTechs that have obtained the one-billion-dollar valuation have achieved Unicorn status. Moreover, the industry itself has been expanding through investments, acquisitions, buyouts, and partnerships, further pushing the valuations of startups. |
