This document provides guidance on how to build a successful fintech startup. It outlines several key steps: 1) Consider the relevant laws and regulations governing fintech in target markets and consult legal advisors. 2) Choose an appropriate technology and partner company to help implement it. 3) Identify potential investors and partners who can help accelerate growth but be careful not to lose control. 4) Understand the funding needs at different stages from prototypes to growth and customer acquisition.

1. How to build fintech startup
Andrii Kuranov
Content Manager

2. The fintech area is considered to be one of the most promising for
the launch of new startup companies. But at the same time, it is also
the most demanding and complex.
As The Next journalist Matthew Hughes successfully put it, if you
compare the launch of any other startup with an attempt to score a
three-pointer with your eyes closed, then successfully launch a
fintech startup - it's like to score a three-pointer with your eyes
closed, hands tied behind your back while being intoxicated.
In this presentation we will try to make out the most important
steps in the process of creating a fintech startup.

3. Consider the laws
governing fintech
First of all, it is necessary to decide in which
markets the project will be promoted. Next it is
necessary to obtain legal advice on the
peculiarities of national regulation, and if
possible, involve a legal advisor in the project.
Moreover, technologies are developing rapidly,
and quite often the state does not have time to
introduce regulation in time. It is important to
understand that if there are no rules and laws in
relation to an innovative product, in the future
the state may introduce them.

4. There are many prerequisites for significant
changes in the sector, due to which fintech is
expanding its borders and going beyond
payments and loans. To realize all the
capabilities of fintech, banks and fintech
companies must cooperate, complementing
each other.
To make significant progress and reach a new
level in a relatively short period of time, it is
especially important to determine the
technology and find a company that will
develop it.
Choose a technology
and company that will
help to implement it

5. Identify potential partners and
investors
Large investor enterprises can lead your
startup to success. They will help accelerate
business development, deal with your risks
and operational problems.
However, do not forget that if you take at
least one wrong step, you can lose all control,
and all laurels will go to investors. Therefore, if
you need a stable source of financing and
your business reputation is important, treat
the process of selecting partners with all
responsibility.

6. The basis of competition in the fintech market is
investment money. However, to return these
investments and earn a lot of money, fintech
startups need to spend a lot of money.
To create a prototype of a product or service, a
startup needs initial investments in the amount
of $ 50 thousand to $ 100 thousand. When a
startup has the right idea and a successful
prototype ready to be launched in the market in
order to attract customers, it is necessary to
receive investments for growth in the amount of
$ 250 thousand to $ 2 million.
Distribute funding

7. At the next slide you can see the approximate
volumes and stages of financing fintech
startups in order to better understand how
much money each stage will require.

9. Read the full version of our article, and learn
more about how to build successful fintech
startup.